FinTech products are, by their nature, innovative and ground-breaking. FinTech products’ main selling point is to simplify and streamline finance. Below are some FinTech marketing strategy tips:

Lean Marketing mindset 

Practically all tech startups are intimately familiar with how the lean product design model works. A company identifies and develops its minimum viable product (MVP) and brings it to market as quickly as possible. This accelerates gathering user feedback that guides future versions of the product.

The lean model is built on a test-driven approach at making incremental improvements. The same hypothesis-driven, iterative method can and should be applied to marketing. Lean marketers launch small test campaigns and use the results to tweak individual components. The key idea is to “fail early and fail often” so that you’ll improve your marketing setup with every new trial.

 

Embed the Sharing Economy into Marketing Campaigns

The sharing or “gig” economy, which took root in ride-hailing and room accommodations, will become embedded in every part of the financial system by 2020. For example, borrowers will no longer need traditional banks to secure financing. They’ll instead turn to peer-to-peer platforms that directly match sources and users of loanable funds.

A key reason why the sharing economy has grown (and will continue to grow) to such epic proportions is that it’s built on trust and transparency. That’s why FinTech marketers need to apply these lessons into their strategies. In the gig economy, word-of-mouth drives people’s decisions. This means marketers must rely on peer reviews and recommendations above everything else. 

The sharing economy brings another important benefit to FinTech marketers: it allows better collaboration. Marketers can now count on peer-to-peer platforms to tap into the right marketing expertise for each campaign. These platforms typically run on algorithms that ensure, for instance, that a campaign for a payment gateway targeting hotels and restaurants is matched with freelancers who specialize in exactly that segment.

 

Understand that “too big to fail” doesn’t apply to Fintech marketing

There’s no question that FinTech is upending traditional banking and financial services, especially in the lending and payments space. But FinTech startups aren’t just displacing banks at their core business. They’re also beating established companies at digital marketing.

A poll by the Carlisle & Gallagher Consulting Group shows that 87% of consumers think banks are “annoying, boring, or unhelpful” on social media.

That’s despite the massive marketing resources these institutions have at their disposal. This presents an opportunity for nimble startups who are better able to engage customers online at little or no cost. It’s not the dollars in your marketing budget that counts; it’s how you make each dollar count.

 

Master and deliver CPC 

No, this isn’t cost-per-click. Here, CPC stands for customized, personalized content. Educating potential users is an effective approach to build your reputation as an expert, and doing this through relevant and actionable content is one way to show you’re looking after your customers’ interests.

But providing CPC isn’t only good for branding. It can also translate into higher revenues. So, whether you’re in B2C or B2B (or both), it pays to have a robust content marketing program in place. Be sure that you’ve identified your target audience segments and mapped out your sales funnel. Knowing what content appeals to different segments and what topics resonate with audiences at various points in the buying cycle are the building blocks of a workable content marketing plan. 

 

Play by the rules, don’t be driven solely by compliance

It’s only natural for FinTech companies to make sure their marketing strategy doesn’t break any applicable laws. However, compliance often comes at the cost of compelling marketing messages. FinTech marketers sometimes opt for watered-down versions of their value propositions just to stay on the right side of the Law. But regulation shouldn’t erode the quality of your marketing materials. There’s always a sweet spot between offering value and staying compliant.