FinTech. How to increase your Customer base?

FinTech. How to increase your Customer base by

For all fintech startups, companies and their services to fight with the risk of financial crimes such as: money laundering and terrorist financing is significant part of success to win client’s trust.

Customers feel more comfortable with businesses that have security measures (Harward Business Review), so provide your potential clients security concerns to your customers. 

Implement apparent security measures for your fintech startup such as customer identity screening in real-time, secure payment service, biometric authentication at logins, etc. Doing that, you show to your clients that you care for their security and take necessary measures to ensure it.

Implement a face verification enabled login, it is convenient, and delivers better security to the customers. Thus you fight with fraud without long customer due diligence practices.

To beat the competition, practice rigid security measures. Due to that fact, big data is the primary asset of fintech solutions, invest time, effort and money in its security. 

For example make your data protection and customer privacy policies visible enough on your website or app, to gain the attention of customers. Additionally, it points the confidence of a company in its security practices.

For another industries the following tips for increasing of customer base also will be useful.

1. Offer a useful free newsletter

Now offer a free newsletter is not enough, it should be useful and helpful, to incentivise people use it.

Avoid empty words, use advices, analytics and promo actions or discounts. 

Don’t scary to mention your partners’ promo, it gives you a synergy. From one side customers look for something new (better open rate) from another you it’s a content for you, and you may get a profit (commission %, or something in return) from this partnership.

2. Ask your customers for opinions

If you have a lot of customers (or even visitors), before a user leaves your website, request to complete a short business-related survey. 

Usually users eager to express themselves through their opinion about their online and offline experiences. Further use a survey to conduct industry research about customer experience or measure customer satisfaction.

Brightlocal research shows 91% of consumers trust online reviews as much as they trust personal recommendations

3. Customer support and service: provide and maintain excellent one

Remember, a customer who contacts customer support about their first order is super important, if you helped in the best way, you get a new customer, who will return to order again.

If not, you wasted your time and money to acquisite that customer. Microsoft research shows 60% of consumers have stopped conducting business with a brand due to a poor customer service experience. 

Treat each customer with respect, provide appropriate action. A happy customer can bring at least three friends talking about a positive experience and great customer service. Track previous customer communication through tools such as CRM software.

Research shows 93% of customers are likely to make repeat purchases with companies who have great customer service (HubSpot). 

4. Customer Loyalty Program

69% of consumers say that loyalty programs influence their decision when considering a new brand (Oracle). 

Levels encourage customers to continue buying from your business and create a sense of community as they progress through each level of loyalty. Each level should have its own special rewards and the rewards should increase in value as customers move toward the highest level.

5. Offer Freemium features

Offer freemium features to grab the attention of potential customers. The feature or item given away can be a PDF download or something like a free prototype or trial software. Ask your users to leave an email address and create an account, and users don’t have to pay to use these tools.

Take care about customer onboarding.

55% of consumers have returned a product because they didn’t understand how to use it (Wyzowl). 

Identify their specific needs and goals. Prominently display your short screencast or video “how to use feature/product”. 

Don’t forget to show customer support options on your packaging so customers know exactly how to reach you if they have a question. Make your customer service accessible to your customers it is the key to provide reliable, real-time support.

6. Keep your website content fresh

To pull in new visitors and potential customers, keep your content fresh and informative by publishing a blog that reports the latest business news, analytics and hot topics within your industry. Additionally a fresh content helps your website be found in search engines.

7. Social media promotion

For example, Facebook users have an average of 229 friends. 

When you create new content, launch a new product or run a new campaign, use across posting through the social media channels you are active in. That is the easiest way to grow your customer base spreading value and motivating your customers promote your brand for you. 

8. Crowdfunding for fintech startup and others

There is crowdfunding sites like Kickstarter or GoFundMe. They help you to build interest, community spirit, and a customer base and raise funds.