Fintech is one of the fastest-growing industries. Its fast evolution is one of the many reasons that fintech marketing departments have to stay one step ahead of both competitors and the market, including regulation, complexity, and changing consumer behavior.
Just as fintech products and services must constantly innovate, marketing teams must also stay at the forefront of best practices in order to meet and connect with their desired target customer. That often means being proactive and anticipating where the market is heading.
We’ll look at the top fintech marketing best practices you can implement in 2022 and beyond.
Fintech Marketing Best Practices for 2022
Fintech marketing best practices are constantly changing, but there are several tried and true methods to connect with your target audience. Here are some of the most effective strategies for the coming year.
Personalization has become table stakes when it comes to marketing just about anything, but this is an especially pertinent trend for fintech. The ability to cut through the noise and present tailor-made information and products to consumers is a must-have. The goal should be to facilitate engagement and build long-lasting relationships through customized interactions that resonate with each member of your target audience.
This requires not only a thorough and accurate understanding of your audience persona but the ability to be authentic and on-point when creating customer-centric messaging. A report by Epsilon showed that 89% of people are more likely to engage with a fintech company that offers personalized experiences.
Partner with Influencers
One of the most overlooked fintech marketing best practices is partnering with influencers to deliver meaningful messaging to your target audience. What makes influencers unique is that they have already built a large fanbase that follows and trusts them, and fintech brands would do well to work with these people and institutions to communicate and build relationships.
Whether it’s working with an influencer on a social media outreach campaign or partnering to create premium content, fintechs have a myriad of ways in which they can leverage influencers and their platforms (and knowledge) to increase exposure to and awareness of their brand.
Mobile devices account for most website traffic. Many consumers want mobile access to the website and prefer companies that offer app-based solutions. Most fintechs have products and services that are mobile-friendly but seem to forget that this applies to communications and marketing as well. Take care to consider the following mobile marketing best practices:
- Make sure your fintech website is mobile-friendly. It may seem basic, but ensuring your site is responsive and geared toward mobile visitors can go a long way in decreasing abandonment and encouraging engagement and interaction.
- Be sure forms on your site are optimized for mobile. Shorter is better and intelligent form fill can provide a significant advantage.
- Consider an app to improve user experience and provide services that are easy and intuitive.
- SEO optimize your site to boost traffic and improve your ranking with Google’s algorithms. Fintech marketing best practices are optimized when you double down on your mobile interface. Check here for more SEO strategies.
Tap Into Referral Marketing
Referral marketing programs have immense potential for Fintech companies. A LinkedIn report states that 84% of B2B clients buy products off referrals. As a fintech company, using monetary or non-monetary referral programs can boost business and brand awareness.
An example is a cash referral program where consumers can refer your service to a friend or family member with a cashback reward. This has proven to be one of fintech marketing’s best practices in recent years.
There are other referral programs you can pursue, such as online reviews, email referrals, and social recommendations through social media platforms.
Go Go Gamify
Gamification can elevate your brand by taking game design elements and game principles into non-gaming areas. As many humans have a competitive nature, gameplay can add an exciting edge to business and marketing campaigns.
Both Millennials and Gen Z have grown up in the online gaming world. Fintech companies can use the connection both generations have with games to boost their marketing and product offerings.
The big challenge is to build marketing strategies that make the product fun and interesting without looking unreliable and gimmicky. Some gamification ideas include:
- Improving financial literacy with interactive challenges
- Setting financial goals with reward tokens
- Building a community through interactive games and chats
Optimize Valuable Content
The old saying that content is king is as relevant as ever. Understanding what your target consumer wants is crucial to fintech marketing best practices. Knowing their concerns provides them with resources to solve problems.
Valuable content gives consumers ideas to figure what they do and don’t need. The right content can generate leads and help consumers reach a call-to-action to satisfy their needs.
A marketing strategy for 2022 needs to be even more consumer-focused and less about the actual product or service. Quality content must be relevant and original while still retaining a clear but unobtrusive call-to-action. See here for solid marketing strategies.
Fintech companies can improve their content offerings by:
- Adding video content that captures the audience’s attention
- Posting interviews with industry leaders and personalities.
- Publishing in-depth articles that embrace storytelling techniques
- Publishing eBooks for deep dives into financial subjects