This is ReferralHero, the best-stocked game shop in the marketing world. If you’re looking for a time-tested favorite or something entirely new, there’s a board game, a stack of referrals, and a table waiting for you.
Whether I’m playing a board game, planning a trip, or figuring out my marketing for the coming cycle, I never get far without a strategy. Knowing where you’re hoping to go and how you plan to get there is key to staying on track and in control of the situation.
If the game at hand is Monopoly, I’m going to have a different plan in place than if I was playing poker. The same logic should be applied to marketing strategies.
What works for, say, a manufacturing company or a grocery store is going to be entirely separate from what works for an emerging market like Fintech.
While long-standing strategies have stuck around for a reason, there are tons of new game plans that can help push your Fintech company’s reach to the next level. Let’s take a look at ten of my favorites!
Content Marketing: Educating Future Users
If you’ve ever gotten a phone call from a particularly persistent telemarketer, you likely know that the quickest way to get someone to check out is to make it clear that you’re selling them something.
In the age of meme-focused business accounts and authentic engagement, customers demand to get something in return for their engagement with your brand.
Fintech has grown at a record-breaking pace, and some consumers remain in the dark about how revolutionary it can be. Creating blog posts, video content, and more to educate them is a great way to expand the market and endear customers to your brand.
An added bonus to this strategy is the possibility of becoming a thought leader within your niche. When you are seen as an authority and innovator, you can easily rack up crazy benefits such as
- An Impressive Reputation
- Boosted Public Relations
- Increased Brand Value
- Speedy Company Growth
- Backlink Optimization and SEO
To make these perks a reality, you need to ensure your team takes the time to make quality, well-researched content.
Cause Marketing: Valuable Values
One shift in how you present your company can lead to a 300% increase in trust, loyalty, and the likelihood that people will buy your product. That is being purpose-driven.
People want to believe that your company cares about the same things they do. If you or your team are passionate about social justice, going green, or some other cause, preach that in your marketing.
Don’t forget to practice what you preach, though! If you lead with a cause, be sure to give back in tangible, measurable ways.
This focus on the broader picture will set you apart from the competition, enable you to connect with customers on a deeper level, and make people feel even better about investing in your product.
In-App Marketing: Upgrading Your Customer Base
Even though growth is the ultimate goal of marketing, one thing is for sure. It's easier to keep an old customer than it is to acquire a new one.
If your fintech company has a loyal following already, there are lots of ways you can use that to your advantage. Using in-app marketing allows you to upsell people on new or enhanced services, and provide them with a better user experience.
These ads can also operate as a way to let your customers know about features within your app that they might be underutilizing. When you can continually show existing customers how valuable your service is, they are that much more likely to stick around, and even tell their friends.
Disruptive Marketing: Innovation and Expansion
One of the most powerful forces in the tech market has been disruptive innovation. This is when a company focuses on the segments of the market that are largely ignored by established companies and slowly build their way up.
Fintech is uniquely positioned to utilize this strategy because of the Internet’s global reach and the exclusivity of more traditional banking. Your company has the potential to make financial services available to anyone, including those in developing countries and other underserved markets.
This will boost your customer base and demonstrate your inclusivity while highlighting that your fintech offers are capable of disrupting the status quo.
Customer First Marketing: The Importance Of Customer Service
In 2021 alone, digital wallet complaints doubled. Working with evolving technology can make issues seem more glaring than ever, especially if customers feel that their concerns aren’t being addressed.
When I have a major complaint that isn’t being dealt with, I’m likely to head to social media and make my concerns known. This is true for lots of consumers and can lead to a marketing nightmare.
However, a savvy team can turn this tendency into an opportunity. If your social media presence can focus on pinpointing common issues, funneling people into customer service, and making clear the solutions as they happen, these complaints can turn into clear and public examples of your company’s empathy, care, and attention to detail.
Be sure to have response templates available for your social media manager, but remember that a response that seems too automatic and doesn’t actually engage on a human level will likely do more harm than good.
This strategy only works if you can successfully solve issues as they arise, so make sure your team understands why customer service is an integral part of growth.
Security: Keeping Future Customers Safe
Speaking of customer concerns, one of the biggest pain points for any form of banking is security. Keeping customers' data and finances safe is the number one priority.
There are several ways that you can work your security measures into your marketing, thus creating a sense of trust and attracting new customers who may be worried about a new form of banking.
- Mention Your Certifications and Compliance
- Be Clear and Upfront About Fees and Benefits
- Fully Explain Terms and Security Features
- Keep Information About Privacy Easily Accessible
Your fintech marketing strategies should focus on educating them about your security measures and assuring them that their information is kept safe and secure.
Influencers and Affiliates: Expanding Your Reach
Influencers and affiliates have the power to open up completely new markets for your company. They have carefully cultivated a loyal following, and if you know how to find the right person for the job, that following can be yours as well.
There are so many influencers in the financial sphere, and many of them specialize in incredibly niche areas. From money and mental health to investing to debt relief, whatever your Fintech company focuses on, someone is growing a community around it.
Take the time to find out who your ideal customer base is listening to and where. Chances are, these influencers and affiliate marketers already have a way for brands to contact them. Know how you plan to compensate them, whether that be a flat fee or a commission, and don’t be afraid to offer their viewers a discount or other perk.
Partnerships: Double the Reach
As fintech grows, customers’ options for who to do business with increase. Every new startup is a potential competitor, which is why it’s important to focus on how you can partner with other like-minded companies to help amplify your reach.
Make sure to target businesses that want to support the same cause and share the same values as you. Start the conversation by engaging with companies you admire. Find ways that you could combine your efforts and offer a better product or service to your customers
Alternatively, you can find a fun way to boost awareness together without actually developing a new product or integrating it permanently. Maybe a joint NFT launch, a fun event, or even a friendly competition.
Whatever you do, make sure it’s beneficial to both companies. You’ll be able to tap into an entirely new group of users, and show off how agreeable and fun to work with your team is.
Gamification: The Fun of The Chase
My second favorite marketing technique (we’ll talk about my favorite soon!) and favorite overall life hack is gamification.
We all know that games are fun and that we’re intrinsically motivated to play. That power can easily be utilized to bring in customers if you know how to use it.
Gamification simply means using game design principles to design your marketing campaign. This can look like a lot of different things including
- Contests
- Streak Counters
- Leaderboards
- Virtual Badges
- Trivia
Whatever you choose, gamification will help increase engagement, foster community, and incentivize users to explore your products.
Referral Marketing: The Most Powerful Tool in Your Arsenal
One stellar marketing strategy can combine many of these routes into one ultra-powerful tool. Referral Marketing takes all the goodness of gamification, influencers, customer-first marketing, and more.
It mobilizes your existing customers and grows your company exponentially. You can tap into all their existing networks, boost brand loyalty, and keep marketing costs low all at once.
When you offer rewards to your customers for referrals, they do all the work of finding and convincing new people to use your product for you. There’s a reason word-of-mouth marketing has been around for as long as it has, and will continue to be around long into the future.
The Bottom Line
With a dash of creativity, a sprinkle of innovation, and a pinch of strategic thinking, your Fintech company can rock the industry and reach unparalleled heights.
It's time to level up and see your business thrive in this fast-paced and ever-changing world of finance and technology. So, go out there and conquer! The future of Fintech is waiting for you!
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