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Marketing Roadmap For a Fintech Company
Easy Guide on Marketing for a Fintech Firm
This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
If you are a Fintech Entrepreneur or about to start a financial firm, than probably, you might have given thought of “Fintech Marketing”. What is the best way to stand a Fintech business among the Top Fintech companies in the country?
FinTech firms are the examples of Innovation & Advancement of traditional "Financial Institutions" and Marketing agencies or Individuals, who work with FinTech clients and usually face the following challenges:
1. A Key Challenge is the Establishment of Trust and Credibility;
2. Challenge of Educating Audience in a Quick and Effective manner;
3. Establishing FinTech Brand;
4. Generating Sales and Revenue Growth;
After Spending many years of FinTech Marketing, I believe SEO is an underrated Channels for FinTech Companies. However, it is typically the medium type of strategy that requires patience, but if you get it right, It is a "Free" source of traffic which comes with reducing your CPA.
Well, Let's start with Creating a perfect Roadmap of Marketing a Fintech Company.
"Identifying the Target Audience"
The term "FinTech" is not an old concept, so you need to draft whom you are going to pitch, who are your audience, and what they do? Further, studying your audience will keep you on the right track. A good marketing strategy always comes with problem-solving content. While identifying your audience, you might keep the following points:
- The Problems you are solving
- Who has the Problem
- When do they have a problem
- How your Fintech is the Solution they need
- How Does your Fintech Solve the Problem
- Psychological barriers for users to become your Customer
"Setting up Your Marketing Budget"
Ideally, the Marketing budget for your FinTech Firm is good Up to "10-15%" of the revenue of your total FinTech Marketing. But If a FinTech firm is already in operations, It can be a little less than this.
I believe that a new Fintech company must follow the "Start small and Grow unlimited Scale" strategy.
"SEO and Inbound Marketing Setup"
-Easy SEO Setup-
Like every marketing project, Onsite optimization is very important. Focus long-tail keywords instead of highly competitive keywords. Setup blogs and make regular posts, and keep the connection between social media and your website.
-Inbound Marketing-
As per the practical approach, Leads from Inbound marketing is around 60% cheaper on average, and after 6 Months, the average CPA was dropped by 80%. high-value blogs, Social media, and organic search content are some of the most effective strategies while marketing to a Fintech firm.
To build a perfect Inbound Marketing Strategy, These are the followings from where you need to start:
-Finding a List of Keywords (Long Tail)
-Creating Topic Clusters
-Creating High-Quality Piller Landing Pages
-Creating CTAs
-Bound All Channels with a soft Sales funnel
“Alignment with Sales & Marketing”
Well, this is one of the most important strategies that required for market a FinTech firm. The sales & marketing team define a strategy altogether. When sales and marketing align, revenue increases, the sales cycle shortens, and conversion rates improve along with projection accuracy.
Following are the key aspect where alignments are required:
-Lead Scoring
-Lead Generation Metrics
-Service Level Agreement
“Marketing Automation”
As an average, 49% of the companies use automation in their digital marketing operations. Likewise, 95% of the FinTech firms use this to run their operations. While marking a marketing strategy for a FinTech firm, Automation helps in the following:
-Save Time
-Tailor to the size of your business
-Improve accountability of marketing & sales teams
-Less repetition, more creativity
-Perfect A/B Testing
“Execution with Small Milestone”
I've explained the essentials to create a productive marketing strategy for a Fintech company. Most of the marketers just keep "Landing Page" in their minds, but for a Fintech marketer, Blogs are more important. As a marketer, You must be focused on positioning your business as an authority with a blog. Besides, brand awareness and credibility are too important.
Other Important things to keep in mind while marketing your Fintech Client:
-Keep Social Media as your Priority for Brand PR
-Engage with Users
-Connect with Social Media Influencers
-Create Visual Content
-Re-market Everything
-Always give your visitors an Exit option