Last Updated on June 23, 2020 by admin
Want to skip the article and go straight to download the NEW Fintech Customer Acquisition Playbook? Do it now.
When we wrote about fintech customer acquisition challenges before, we explained how B2B fintechs, in particular, face several obstacles in acquiring new customers. As B2B organizations, many struggle to establish an emotional connection with buyers — which, as Google points out, is important. Specifically:
- 50% of B2B buyers are more likely to buy if they can connect emotionally with your brand
- Seven out of nine B2B brands had emotional connections with more than 50% of their customers (by comparison, the average B2C brand has an emotional connection with 10%-40% of consumers)
This lack of emotional connection makes it very difficult for B2B fintechs to compete with incumbent banks and other established providers who have already established both a connection and trust with customers. That trust is based on a measure of credibility and some comfort level with the services and solutions provided. These trust, credibility, and education factors are table stakes for fintechs who want to compete and acquire new customers.
So how do you tackle these challenges? It starts by understanding exactly what you’re up against:
- Lack of brand recognition (credibility)
- Buyers are uncertain about adopting an unfamiliar or unpredictable product/solution (trust)
- Innovative solutions require bringing buyers up-to-speed with current industry problems and how your products and solutions solve those problems (education)
Content marketing can help B2B fintechs build trust, establish credibility, educated buyers, and connect with those buyers.
Content marketing is more than just blogging (though blogging is an excellent long-term tactic as part of an overarching customer acquisition strategy — and one that minimizes CAC over time). Brands need to learn how to become storytellers in order to establish a meaningful level of connection with prospects.
There are various roles that content can play throughout the buyer’s journey. Not only does it tick the three boxes above, but it also increases organic traffic to your site and provides more opportunities for you to convert visitors to customers. In fact, content marketing is doing a lot of heavy lifting for sales departments these days:
- 45% of buyers are spending more time researching purchases this year(are spending more time researching purchases compared to last year. )
- 76% of B2B buyers want content that speaks directly to their company.
- More than half of all B2B buyers view at least eight pieces of content during the purchase process, and 82% of buyers viewed at least 5 pieces of content from the vendor prior to purchase. (Forrester)
- 73% of B2B buyers say they want a personalized, B2C-like customer experience. (Accenture, 2017)
Incorporating a winning content marketing program as a foundational piece of your customer acquisition strategy requires more than just good writing. It means taking a look at all the moving pieces involved in attracting, educating, and onboarding new customers. This involves multiple tactics woven together with a sophisticated strategy.
Blogging, audio & video content, search engine marketing, and email marketing are some of the pieces to the customer acquisition puzzle. How you fit them together will depend on your unique offering and customer base. Executing in each of those areas is a start, but you will also need to focus on optimizing each of them in order to convert more customers and minimize customer acquisition cost over time.
Curious about the best path forward for fintech customer acquisition? Good news. We just released our Fintech Customer Acquisition Playbook. You’ll get deep insights into:
- Understanding the challenges of fintech customer acquisition
- Building a Customer Acquisition Strategy
- Using Content Marketing & Corporate Storytelling
- Leveraging Search Engine Marketing
- Engaging with Prospects via Email Marketing
- Minimizing Customer Acquisition Cost (CAC)
- BONUS: 11 pages of Optimization Best Practices
Download the FREE Customer Acquisition Playbook today!