Financial technology, popularly known as FinTech encompasses everything from digital payments to Crypto currency.
This results in FinTech startups being one of the fastest-growing companies in the world.
As a result, Internet usage has penetrated our daily routines and our traditional bank system has gone for a toss.
FinTech start-ups are booming. And to stand as proof for the statement- these start-ups have got $128 billion in worldwide venture capital.
FinTechs are beneficial when they have a massive customer base. To reach your target customers, marketing is fundamental.
Just as technology has given birth to FinTech start-ups, now word-of-mouth marketing isn't going to suffice.
Social media marketing is the trending word of mouth that kicks off your brand awareness.
With tons of FinTech companies popping in the financial tech sector, being able to stand apart in the crowd is crucial.
This is achievable through marketing themselves right.
Here are some of the hottest marketing tips that will set your FinTech Start-up stand out.
Who are your people?
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Before we get into marketing tricks to set your start-up stand out, the primary objective is to understand who your target audience/ customer is.
If you do not narrow down your target audience, your marketing would be equivalent to just shouting out loud from a cliff-top. Your brand voice is lost in the void.
Carry out surveys and get feedback on your product or services. This will give you a better understanding of how your start-up is perceived by others.
1. Optimizing social media
Gen Z and millennials partake a major chunk of the customer base. To reach them, you have to be present where they are.
Social media is your best bet. The first step is to open social media accounts and optimize them.
A great profile picture and SEO friendly description are a few basics to set an optimized account. Also don’t forget to add links to your website or app, where users can check out more.
2. Play the content game
Marketers who have a strong blogging game going are 13 times more likely to gain rewards for their ROI efforts.
57% of marketers say they gained more customers, thanks to blogging.
You are going to be obsolete in the start-up game, if you haven't stepped up your blogging game.
Presently, it’s the content-driven world and you need to start putting out informative blogs.
You could start by posting educational content on finances or something that could benefit the Gen Zs and millennials.
Along with posting new content, update the old content you have put out. Only a small percentage of people update their content, and by staying up updated with the trend, you are on the climb.
3. Align to your customer's requirements
There’s a difference between putting out relevant content and just gushing out information that has no purpose.
Always cater to your content with an end goal in mind. Why are you putting this out there? Who is going to benefit from this? If your answer to all questions is yes, then you are on the right track.
4. Cross over your marketing channels
Along with posting relevant information, it is equally important to be seen always. You have posted a blog, repurpose the content in bite-sized information in form of a reel or carousel post on LinkedIn.
By repurposing content, you are making sure your content is reaching out to the majority through all your social media outlets.
5. Capitalizing on video-format
Video format tends to grab more eyeballs than a written form of content. The attention span of humans is short and videos are a great way to have more information in a short span.
It is a guaranteed way to reach 18–34 year-old people. You can upload your videos on YouTube.
You can create videos explaining your application, its features, the history of the start-up, behind the scenes, some fun videos about your team, educational videos on up-and-coming topics and the trends of your industry.
You could create shorts or upload a similar format on Instagram reels. In 2021, social media marketing is all about being in front of the audience and interacting with them.
What is better than to go live? Go live on Instagram or YouTube and your success is just a few miles away.
6. Collaboration trumps competition
Collaborations are the secret magic ingredient that can amplify your customer base like a wildfire.
By collaborating with others, you can reach a wider audience and leave a positive impression in people’s minds.
You could conduct events and do giveaways, which is a golden marketing technique. Many finance gurus have a huge following in their social media profiles.
Reach out to these social media influencers and sponsor their video. It’s a win-win situation.
7. Track your progress
Documenting your actions and outcomes from them is fundamental for success. All planning is in vain if you aren’t tracking your progress and checking routinely if you are moving in the right direction.
Use analytics for your benefit. It will tell you which marketing efforts are paying well and which aren’t.
Analyze the traffic, click-throughs, and other data to reveal the gaps in your social media marketing strategy.
On figuring out the pattern from the insights obtained, replan your strategies and carry them out. This way you avoid making repetitive mistakes.
Now, even traditional companies are adopting financial technology in staying relevant and gaining a competitive edge.
To out beat the competition, it is more important than ever to make your presence known and carve out your niche.
As a start-up, it is understandable to not have a huge budget allocated for marketing.
Thanks to social media, you can use the above-mentioned tips and strategies to elevate your marketing on small budgets.
The few social media accounts you can get started with are Instagram and LinkedIn. You can focus your energy on one social media platform and then gradually broaden your channels and reach.
Which is your favorite marketing tip? Let us know in the comments below.
Robb Fahrion is a Co-Founder and Partner of Flying V Group. He is passionate about helping businesses grow using the power of the internet. Robb graduated from Chapman University in Orange, CA and currently resides in Costa Mesa, CA. Robb enjoys writing about digital marketing, helping his clients turn their dreams into reality, and he is a HUGE Mike Trout fan.