Top 12 Digital Marketing Tips for Fintech Startups BusinessesTop 12 Digital Marketing Tips for Fintech Startups Businesses
In the field of financial technology, fintech marketing describes advertising and promoting businesses related to financial technology. Fintechs, in particular, use Fintech marketing agencies often to validate their product ideas, find early adopters, and power growth after establishing product-market fit.
The growth in installs is reflective of how the financial industry is evolving on mobile, whether it's investments, payments, or loans and credit. The market still needs to be educated regardless of how disruptive or game-changing your product or service is. A robust digital marketing plan will help you with everything from finding early adopters to scaling up.
Here are 12 digital marketing tips that you can implement for your Fintech startups.
1. Implement A Mobile-First Approach
You need to make your fintech business mobile-friendly beyond digitization. In fact, many innovators of fintech are going beyond that and adopting a mobile-first strategy.The more responsive your app is, the more users it will attract. Having a mobile responsive app will increase ease of use for customers and make the payment process seamless.
Along with the fintech app, try to educate your customers with it. You can establish your fintech organization as a leading expert in your field by developing informative and relevant content through articles, reels, posts, videos, tweets, blogs, webinars, and even ebooks. This will not only gain you the trust and confidence of your prospective customers, but will also help you increase your sales.
Share useful content to help people manage their finances more effectively.
3. Video Marketing
You can create video content on several platforms and target several audiences. Video content will educate the users about your business and give insights about more content, such as financial advice, the latest trends, etc.
In order to harness the power of video marketing, you need to look beyond YouTube. Consider using Instagram Reels, Facebook Stories, or pop-up video ads.
4. Influencer Collaboration
Influences have a great impact on businesses. With their wide audience, you can get a whole new target market who'll willingly try out your business app because their idol is using it. It will be beneficial for your fintech organization to collaborate with niche influencers.
Collaborating with big stars can enhance your online presence and spread information about your products and services across a wide range of audiences.
5. Utilize Social media
Social media has a noticeable impact on digital marketing that you can never underestimate. It is essential that you have a social media presence to spread the word about your products and services. It is important, however, to invest time and effort in identifying which social media platform is the best for your fintech digital marketing strategy.
There are pros and cons of each platform, so you'll first need to identify your ideal target audience and research which platforms they use of social media or you can also connect with social media marketing agency to create proper plan for your business social media channels. Then you can start creating customized content for your target audience.
6. Customized Notifications
The key to any organization's success is building a strong relationship with its audience. To do so, you can build a strong personalized messaging system that addresses your customers' needs. Relevant messages or notifications have a direct correlation with customer retention.
Your messaging strategy will definitely win brownie points if you place the end user's perspective at the center. Zomato, for instance, has witty and useful notifications. Utilizing memes, trending topics, and regional dialects for the purpose of spreading a message are innovative and timely!
7. Try new things with Existing Customers
As we know, it is essential to get new customers, but retaining the old customers is equally important. Cross-selling or up-selling your products or services to them is easy.
Using referral marketing online can also help you turn your existing customers into brand ambassadors. A successful scheme must be designed with caution, as you need to consider the pros and cons of offering credit bonuses versus smaller immediate rewards.
You can also use affiliate programs to expand your customer base. It's a win-win because you only pay them a commission if they generate sales.
8. Make it Easier
Technology is good, but it takes time to build trust in the eyes of the public. Focus on improving financial systems/processes so that they run faster and more efficiently. If you are using new technology, don't forget to add video tutorials on how the users can use it. It will make things easier, and they'll be encouraged to try out new things.
You can't always have human customer services available for your users. Thus, investing in Chatbot is a good idea. If users have any problems, they'll directly connect with the AI-inspired Chatbots and get their issues resolved there. If any customer hasan issue that can't be resolved with Chatbots, it will redirect them to a human representative. It will save time and energy and provide an excellent user experience.
Chargeback policies can dramatically impact the losses incurred by your company when marketing FinTech brands.
Originally created to protect consumers against fraudulent merchants.
Today, chargebacks occupy a gray area between customers who have legitimately lost money over a fraudulent transaction or product and those who just want their money back following a valid purchase.
Alternatively, if your refund policy is too strict or nonexistent, you may lose potential customers due to the lack of protection for the customer.
It's your job as a digital marketer to resolve transactional errors on your website or app in a clear, authoritative manner.
11. Keep up with the Trends
Nobody wants outdated things. Thus, you need to make sure that your fintech app has all the latest features. Keeping up with the latest trends will have you gaining more users. It will help you reach out to a new audience and eventually increase your revenue.
12. Be Empathetic
When a customer views an article or post about finance from your brand, a substantial amount of trust is built. Let them know the latest trends, issues, and solutions.
Additionally, it helps you to direct customers to new services and products. For example, you can discuss a problem your company has already resolved.