Fintech marketing requires a thorough strategy. Given the nascent nature of the industry, it can be hard to pinpoint the best fintech marketing strategy to ensure your product or service is getting in front of the right eyes at the right time. Add to that the fact that the industry is highly competitive and rapidly evolving, and fintech marketing becomes a bit of a challenge.
Whether you’re a new or early entrant to the scene, there are some considerations that hold true across the board. Most fintechs offer solutions that can help their customers reduce risk, lower costs, or increase profits—or all three. The key is building trust with the right prospects, and delivering messaging that resonates enough to move people closer to a sale.
In our experience, content is at the heart of all great fintech marketing, including inbound, outbound, public relations, and everything else under the marketing umbrella. To hone in the focus a little bit, we’ll focus on a few key marketing tactics to illustrate how a solid content marketing strategy feeds the rest of your fintech marketing success.
Search engine optimization (SEO) helps increase the visibility of your website in a search engine’s organic (unpaid) results. This should be a big portion of your digital strategy, and it’s largely reliant on keyword research. It gets sticky with fintech marketing, as nascent products, services, and technology often have a low search volume—people aren’t searching for what they don’t/can’t know exists yet. So fintechs face two hurdles with SEO and inbound: 1) garnering awareness/educating an audience about bleeding edge products, and 2) ranking for those things.
There are a few different avenues and options fintechs have in gaining traction in this area. First, consider all search terms. In cases where your audience may not know exactly what they’re looking for (but have a general idea), consider forming a list of keywords that may be remotely related to your product. Focus on the pain points and problems your product helps solve, as well as long-tail keywords that may be related. In the beginning, be as broad as possible. Once you have some data to work from, you can begin to hone in on the most valuable search terms and keywords for your company.
These terms will inform your sites title tags, meta descriptions, H1s & H2s, and more. A great way to pinpoint the top keywords you’ll want to use in these critical areas is to produce content around many keywords and see how that content performs.
An example that comes to mind is “conversational commerce.” I’ve seen this term be used interchangeably with ”chat commerce” “app within app”, and “contextual commerce.” Consider creating content around each of those phrases, promoting on similar channels, and distributing to the same audience. Which performs the best? This may offer insights into how people are actually searching for their information and which keywords are best positioned to help you rise in rankings. In some cases, your content—if of high quality—may actually help influence and drive the lexicon within your industry/sector.
Also be cognizant of what your competitors are doing. Which terms are they focusing on? Do they seem to be getting attention (blog comments, social shares, etc.) on certain content pieces with a specific keyword? Take note and see what makes sense for you to pursue.
PPC campaigns and a/b testing are another great way to hone in on the most relevant keywords for your space. Running a PPC campaign that tests against several variations can give you the data you need to declare a “winner” between competing keywords and optimize the rest of your site content accordingly.
Building out the right keywords (and driving new lexicon) requires a great content marketing strategy. Group keywords into themes and build out content campaigns around those themes. Also consider how those keywords and content themes can be applied across the entire customer lifecycle.
Social media is often viewed as flaky, irrelevant, or unnecessary when it comes to B2B marketing. In many industries, that just might be true. When it comes to fintech (both B2C and B2B), however, the data speaks for itself: worldwide social media users total 2.34 billion and that number is expected to grow to some 2.95 billion by 2020. Social is a great way for consumer brands to extend reach of messaging and content. B2B fintechs shouldn’t miss out on the social opportunity either. Considering that 66% of Millennials want to start their own business, fintechs need to consider their audience—and where that audience spends time online.
Going back to the conversational commerce example, it’s clear that Millennials and Gen Z spend a large chunk of time on social, albeit differently. It’s for that reason that conversational commerce has taken off. And if fintechs are going to acknowledge the massive presence of these powerhouse consumer groups on social and create payments platforms to serve them, then why wouldn’t marketing follow suit?
Some quick facts:
- Millennials on Social Media: 95% follow brands through social media
- Gen Z’ers on Social Media: 85% of Gen Zers learn about new products on social platforms, and ~50% say they “can’t live without” YouTube.
- Buying power of Millennials: spend about $600 million annually, a number that will climb to $1.4 trillion annually and represent 30 percent of total retail sales by 2020
- Buying power of Gen Z: spends $44 billion a year on themselves and influence another $600 billion in spending by others
Social media is a highly relevant platform on which fintechs can educate their target audience and begin to build trust and credibility—hallmarks of successful fintech marketing programs. Even if SnapChat and Instagram aren’t high on your priority list, platforms like LinkedIn can be valuable channels on which to promote thought leadership and even generate leads.
Again, the key is to have a solid content marketing strategy that extends to social. Promote blog posts and thought leadership on social channels. Publish content directly on social platforms where appropriate. Also focus on making all content highly shareable—or repurposing longer form content into shareable snippets. The following make for great social tidbits:
- Stats (from a white paper or ebook)
- Videos (explainer or white board)
- Short surveys/quizzes
Regardless of the tactics you employ or the channels you use, high-quality content is essential. Stay tuned for Part II, which will cover the importance of high-quality content to generate successful results in PR and across the entire buyer’s journey.