6 maybe 9 months you develop a product that solves a complex financial problem. Hundreds, maybe even thousands, of people could benefit from your product, if only they knew about it. Spreading the word to your close friends and family, that is not enough to help you scale.
- Clients want a quick solution; they don’t want to search for options. Good marketing and SEO make your product easy to find when it is needed.
- Marketing can create a sleek image for unattractive business model.
Find below 6 Marketing strategies to promote your FinTech Startup.
1. Visual marketing tactics.
Usually images simplify complex topics. Infographics or short videos allow to demonstrate how your product works and attract more attention. Most of clients would much rather watch a 1—2 min video that explains your product’s functionality than read a 12-page white paper with details.
Example: Mexican small-business (SME) loan startup, Konfio uses simple branded images and 30-second videos to explain how to use their app. Сlients learn how the product can help them, it is important to mention all materials are optimized for social media viewing, including captions and mobile responsiveness.
Don’t forget to post videos directly to the platform video on Facebook or Twitter; native video has an 86% higher reach (Hubspot) than YouTube links.
85% of Facebook video is watched with the sound turned off (Digiday).
2. Think about keywords.
If your startup is small, no one knows about you and what you do. Create a large list of keywords based on what your users might be searching in google to help them find you.
Use FAQ: What questions might your target audience ask when they look for your product? This answer depend on whether your clients are individuals or businesses; Remember a sales manager search for products differently than a suburban mom.
Imagine, your client looks for a payments processing solution in Latin America in Spanish. They scroll Google results and compare all products before they make a choice. Here, they would probably land on PayU (Colombian company) that processes online payments and it has a high rank on Google for related to their solution keywords. Imagine your ideal client’s search behaviour before you start writing.
3. Beat the banks on social media
87% of users see banks as annoying, unhelpful on social media or via apps. These channels are more about to connect with a younger audience who adopts tech quicker. Speak the same language of your ideal customers to help them realise why your product is relevant to them.
Revolut (British digital bank but with Russian CEO), is a fintech company with a strong social media presence. Their Twitter is very responsive and interesting with memes, gifs, and etc. Revolut via their social channels provides more direct customer service, answering questions and concerns directly through Twitter.
4. Use a strong message.
Pay attention to regulations – you are FinTech startup – if you don’t wanna get shut down. Facebook, Instagram tend to pull down ads or pages for fintech companies in the cryptocurrency space, so play by their rules. Or find another platform like Medium, Quora, Huckernoon, Reddit.
Ualá (Argentine neobank) has one of the world’s most entrenched banking systems with a completely free, mobile credit card. They have over 400,000 Argentinians in their 1 year of business by providing a fierce value proposition across all their channels. Founder openly declares that Ualá plans to make banks in Argentina outdated by next year.
5. Customer retention.
Meanwhile you engage new clients, your revenue comes from existing customers. It costs from 5 to 25 times more (Harvard Business Review) to acquire a new customer than to retain one.
Continue to educate and serve your customers, who already use your service or product. All your content production should be dedicated to help clients take advantage of all of your services and don’t forget to prioritize their concerns when you create new campaigns.
CryptoMKT (Chilean cryptocurrency exchange platform) for each country where it operates across Latin America, they created separate, educational pages to provide clients updated pricing and trends in market.
Additionally explain how to purchase every cryptocurrency in detail, to help buyers clarify such complicated topic.
6. Let your marketer do this job!
Help your marketing team wholly extricate themselves from the internal operations of your business, they should be focused on creating, sharing and spreading information about your company. Avoid to overburden your marketers, or you get less effective content, and less benefit from the full effect of marketing work.
According to PwC, Banking & Payments ~ 28% of market, Insurance, Asset & Wealth Management ~22% and still grow. Fintech startups around the world lag behind other startups in marketing efforts, that means you may beat out the competition by distributing your content on the right channels, educating your users, and having a strong message.