FinTech is seen as one of the most revolutionary sectors for the coming decade. Investments in this sector have become manifold in the past 3 years and there are almost 20 FinTech unicorn start-ups in the space, with combined valuation of more than $100 billion. In 2018, five of these companies made their debut and over 50% of them grew to exponential figures.
Many companies are expected to follow suit in 2019 and gaining visibility will be an important aspect of being able to survive the intense competition. Here are 5 marketing channels to target in order to capture the attention of investors and consumers alike.
1. Press Releases
Getting your brand covered by a respected tech journalist or financial expert will make serious investors notice your company. Through press releases, company news about exciting product releases or event sponsorships can be distributed worldwide, which will help build brand awareness.
For this, it is essential to get in touch with experienced journalists, who report on this industry on a regular basis. A guest post by members of your firm’s top management team on prominent financial publications is another way to go about this.
FinTech influencers are widely followed for their valuable takes on industry news and trends. Partnering with them will increase your ability to share in-house content and messages through targeted publications.
2. Content Marketing
A solid content marketing strategy, supported by well-crafted, informative and visually appealing content, can enhance organic traffic to your website and improve its search engine rankings.
Publishing regular articles on your company’s blog is the first step in content distribution, and this includes user-generated articles too. These articles can be pushed to financial publications and social media channels.
Actively participating on various online forums could lead to greater exposure of your content. For SEO, proper keyword research is essential. Educational content, like explainer videos of new products, are appreciated by new users. Content that offers valuable information on your niche solution will establish your brand’s credibility and thought-leadership.
3. Social Media Channels
Social media marketing remains a high-ROI, online marketing strategy, with no barriers to entry and low cost. Social media is also where a large percentage of your target audience can be reached. Millennials depend on social media for information and peer recommendations, and traditional financial services have faced challenges due to this. Payment apps and digital wallets have provided personalised services at faster speeds, aimed at millennials.
Apart from advertising, social media also helps in B2B connections. As more and more brands are moving online, social media platforms like Twitter, Facebook and Instagram are becoming increasingly important for forging new relationships and keeping track of the competition.
4. Search Engine Marketing
Targeting search engines is necessary to build an online presence and be accessible to your target audience. Google’s My Business tool is helping brands craft their business profiles efficiently on the search engine, while consumers are increasingly engaging with Google in a local manner.
FinTech start-ups that have small marketing budgets can also benefit from automated advertising by Google. To use this facility to your advantage, you need to know the current trends in the search engine market and its sub-segments. Right now, the key players in this sector are AdWords, WordStream, DoubleClick Digital, Kenshoo Infinity Suite and Marin Software, according to the Global Search Engine Market Report 2018-2025.
5. Direct Media Advertisements
Media buying services require a fair amount of research on consumer demographics, geographical limitations and audience psychology. Buyer specialists have a large number of media outlets, both traditional and digital, accessible to them and they can carve out the best plan according to the allotted budget. This also includes buying impressions for ads on the internet, and airing commercials on TV and radio.
FinTech start-ups need to concentrate on orienting their marketing efforts to an omni-channel approach. Another way to build legitimacy in the sector is through partnerships with established financial institutions that are complementary to your business. That will also pave the way to enter niche events and platforms. Building credibility remains the single biggest challenge for FinTech start-ups and the right marketing mix can help address this.