Customer preferences within the financial services industry are growing more sophisticated as people expect convenience and personalization. Fintechs have met consumers at this tricky intersection, disrupting much of the industry with innovative use of technologies. Through low-cost personalized products with customer-centric benefits, fintechs are poised to continue blockbuster growth through 2019.
Just as differentiated and rewarding customer experiences built into fintech products are spurring unprecedented growth, these values should also be considered as part of an entrenched content marketing strategy for fintechs looking to execute effective, omni-channel marketing strategies.
Competition is fierce and fintech strategy should be holistic and customized when it comes to marketing.
Fintech Strategy for Funding
Funding is integral to fintech success. According to Finextra, the FinTech industry received a whopping $27.4 billion in funding in 2017, making the funding in the industry increase by 18%. The value of deals in the USA only rose to $11.3 billion, a 31% increase. In 2018, the funding for the Global FinTech industry hit a new record of $5.4 in funding during the first quarter. This shows that the upward trajectory in the FinTech industry is not about to stop any time soon, and the funding will keep increasing. To take advantage of this, you need to have a keen look at your strategy.
The surge of investor interest is not letting up, but it takes a measure of gumption to attract eyeballs—particularly eyeballs with open pocketbooks. Getting connected with investors that could fund your venture means standing out from the herd—a tall order in a hyper crowded space. Part of standing out is developing a corporate narrative that aligns your products and services, the value they provide, and your mission. Content marketing helps fintech companies achieve this pitch-perfect narrative that can attract the investors needed to secure funding and spur growth.
Fintech Strategy for Lead Generation
Both startups and well-established fintechs rely on lead generation as part of an overall marketing strategy. B2B fintech strategy, in particular, relies on relationship- and trust-building to generate leads and move them through the funnel. Attracting prospective customers is not enough. The B2B fintech sales cycle is often long (3-18 months) and complex, requiring an end-to-end fintech strategy that uses data to determine the best way to capture, educate, and convert leads.
Fintech marketing departments are sometimes limited in resources, making lead generation a tall but necessary order. Content can play an integral—and less expensive—role in generating leads and nurturing them through to conversion.
Effective content marketing as part of an overall fintech strategy demands high-value, educational, and compelling content. Great content helps highlight pain points your target market may not even realize they have—pain points that your product or service helps solve. By providing helpful, educational content, fintech companies can guide prospective buyers through their most expensive issues and help them make critical buying decisions that can save significant money and boost the bottom line.
In addition to helping buyers solve their most expensive, draining problems, quality content also builds trust and relationships as people begin to look to content creators as thought leaders and authoritative entities that understand the industry. This trust is easily converted into business relationships, which lead to sales.
Fintech Strategy for Recruiting
To survive and thrive, fintechs must hire top talent. Innovative technology applied to the world’s most burdensome, expensive problems is what industry success is built upon. Creating effective technology requires the ability to recruit talent. The rapid rise of fintech has lead to unforeseen competition, not only in the B2B and B2C marketplaces, but in attracting top talent. Limited talent means fintechs must be strategic in filling key technical roles.
Content marketing is an important element to strategic fintech recruiting. While its primary purpose may be to establish a fintech company as a thought leader in a particular niche in order to increase sales, a secondary benefit is positioning the company as an attractive employer. The tech talent pool faces a broad arch through which to take the next career step. Using content marketing to position your fintech company as a leader in the space, an innovator, and a company with its finger on the pulse of the latest technological advancements makes you an attractive employer.
Those trying to attract the younger generations will find that those segments are paying close attention to your company’s online presence to get a sense for the ethos and culture. Lacking a definitive presence will turn the best tech talent to your competitors.
Fintech Strategy for Awareness
Marketing for fintechs is always a tricky subject. Startups often face resource limitations and must rely on growth hacks to raise awareness and generate incremental revenue. Content marketing can be an effective, low-cost way to generate awareness regardless of the size of your budget.
While the lion’s share of budget often goes to product development, marketers can do a lot with a little if they orchestrate an effective content marketing strategy. Using a multi-pronged, omni-channel approach, fintechs will find that great content can go a long way. Blog posts that are search-engine optimized can make the company more findable in search results. Social media campaigns across several different networks can be used to promote on-site content and target specific audiences. Content shared through enewsletters or lead nurture campaigns can help educate your personas about your company, your products and services, and your mission.
Fintech strategy is a broad term that applies to a spectrum of departments: product development, technology, and marketing and sales, to name a few. In looking at your fintech strategy across these facets, consider how content marketing can contribute to different initiatives while also bolstering the effectiveness of marketing and helping to drive new revenue.