If you’ve had a good start to the year, that’s great! However, if the pieces are not falling into place, you are likely trying to rapidly readjust for Q2 with these fintech strategies.
In an immensely saturated market, deploying the right fintech marketing tactics is often challenging. Conventional banks are slowly catching up to new technology, best-in-class user interfaces, and customers’ demands and desires.
But don’t lose hope. Here are the five best fintech strategies to start your Q2 strong.
1. Content Will Continue to Rule
Content will remain the core of your fintech strategies. According to a survey by BackBay Communications, 96% of the leading fintech firms produce thought leadership material consistently.
Continue producing unique and engaging content for your prospects. It lets fintech brands establish confidence and prove their reputation well before prospects approach them.
Fintech’s world is full of data that can be difficult to comprehend, so businesses must find ways to make fintech’s content more visually engaging and simple to understand to increase clarity and offer a better user experience.
You can back your content research with firmographic and technographic data to find companies that fit your ideal customer profile (ICP). Use content marketing to ramp up the partnerships and target a larger audience, regardless of team size or budget.
2. Make Use of AI in Paid Ads
As per the Salesforce 2020 State of Marketing Survey, 84% of today’s marketers report using AI compared to just 29% in 2018.
Fintech marketers have started using AI in the form of chatbots, underwriting, and Robo-advisors in their fintech strategies. Embracing AI and machine learning for efficient paid ads and consumer acquisition strategies will help you reduce the cost per lead. AI can help marketers refine their bids, evaluate and copy ads, select high-performance ad placements, and make smarter, quicker data-driven choices.
Deep knowledge of your demographic, firmographic, and technographic data also helps you to be smarter about your budget. Audience knowledge is half the work to be competitive in narrowing down ad targeting.
The other half involves creating ad copy with the best keywords, graphics, and calls for action. This way, you reach out to ideal customers with a customized message.
3. Focus More on Video Content
Last but not least, let’s talk about video control. Video is unrivaled right now when it comes to marketing, and fintech is no different.
Video is one of the few dependable types of content where the viewer’s attention is focused and centered on the media in front of them. Create video content with your product whether it’s to show how it works, customer results, or new updates. All these ideas are great ways to draw attention to your product, culture, and value.
Here’s an example. HubSpot introduced a ‘pillar-cluster’ content model. The concept of the model was quite complex to explain. However, they nailed it in a 1-minute 40-second video, and then they could rely on an article for extra depth.
It’s a common misconception that social media is more suited to creative businesses and doesn’t have anything to offer to the fintech industry. That is not true.
Social media platforms might not be a core focus area for fintech companies. However, you cannot ignore it completely. Its contribution to your branding includes success stories, conveying the benefits of your product, the latest updates on company growth, and announcements.
Given that, you need to put a lot of work into creating a campaign that suits your brand, the chosen medium, and the target audience. Zeroing on who you want to meet will help you pick the social platform(s) you want to concentrate on. Personalize the content for each platform to achieve the best performance. Social media also helps you to increase customer loyalty.
5. Define a Customer Retention Strategy
Fintech businesses commit a large amount of time and money to attract potential clients. However, as customers migrate from the finance sector to insurance and then retail, fintech firms must now engage in customer retention. Usually, the sector’s inventories are restricted to the same types of products and services. Since most financial products are similar and software, it’s difficult to communicate the real value of products as well as to find ways to encourage customers to buy add-ons.
Banks and fintech firms are reinventing ways to interact and improve the consumer experience of fintech and finance as technology progresses. Consumer loyalty is becoming dependent on the content of experiences rather than on the goods or services themselves. You need to take the time to figure out how each customer will be kept not for the first year, but for each year after that.
Another successful method of customer retention is taking a data-driven approach. Data-driven fintech companies are redefining the business and market worlds when it comes to remaining competitive and delivering the ultimate user experience. This is because data-driven systems, software, and utilities have precision, personalization, and ease of use that manual processes do not.
Closing Remarks: Make Optimal Utilization of the Data
Banks and financial institutions often have complex structures and strict norms while buying a solution. Since your product or solution is going to be a crucial part of your clients’ system, sales cycles are often longer than usual. Thus, data becomes crucial for building trust and keep your conversations focused.
Sometimes it seems you’re never going to break through to the right people. If you do, you may fail to persuade them that your solution is the best for their dilemma, even though you think it is.
To optimize your strategy and reach prospects before your competitors, you need the correct person’s contact and business details.
SalesIntel is a one-stop solution for accessing industry-specific, human-verified, contact and company data, as well as firmographic and technographic data.