Fintechs have some of the best ideas and technology in the financial space. But getting those ideas in front of other people—and raising interest—is a whole different story. It’s so easy to assume that the right product or technology will sell itself.
But it won’t.
Without a strong launch, any fintech can assume that leads will be hard to come by. They may run out of funding by the time they find their first client. Or, for somewhat established fintechs, those extra few clients represent the difference between “proof of concept” and “sustainable business.”
Fast and Easy Digital Marketing for Fintechs
There are many flavors of digital marketing, and most of them are effective… within reason. But when launching a fintech, combining strategies offers a comprehensive approach. We highly suggest following a few of these steps to get your fintech startup off the ground.
1. Email Marketing
Email marketing is still a strong choice, even if the numbers aren’t impressive. That is, depending on the list you’re using, you might be lucky to see a 1% click-through rate.
However, volume is key. A 1% click-through rate on a list of 10,000 still provides 100 new leads.
Of course, it’s not quite that simple. There’s plenty more to think about. But email marketing is absolutely an important first step.
2. Social Media Marketing
Social media marketing has a slightly higher engagement rate than email marketing. In many ways, that’s a very attractive proposition.
But social media marketing costs a lot more than email marketing. And not all social media engagement is useful.
Nevertheless, putting your fintech or startup in front of relevant audiences can be a game changer. Plus, if you use retargeting, you’ll significantly increase your efficacy with social media. (Hint: LinkedIn for B2B, Instagram for B2C.)
3. Inbound / Content Marketing
There’s so much to say about content marketing, so we won’t even try to cover the basics here. Long story short, creating and featuring a healthy amount of content on your site answers questions that leads and site visitors will have.
Email and social media marketing can drive traffic to your site, but if people aren’t immediately sold on your product, service, or offer, they’ll leave. Content is what keeps them there—and what arouses further interest.
The downside is that content marketing can take a lot of time to be effective. In fact, we usually say that brands need about six months of effort before they see real inbound leads. But if your fintech is in it for the long haul, creating content is a must.
4. Marketing Automation
Marketing automation is what ties every other strategy together. It allows brands to monitor what people do on their site—where people enter, which pages they visit, what they’re interested in, etc. It even allows you to see how people engage with your emails and social media posts.
Marketing automation allows your brand to leverage nurturing sequences. Nurturing sequences introduce leads to the ins and outs of whichever product or service they were looking at by showing them content about it. It also provides easy CTAs for social posts that aren’t paid promotions (e.g. link a blog post or embed a video).
Marketing automation provides many benefits, but there are some drawbacks. First, it can get expensive at hundreds of dollars per month to start. Second, it can get a little complicated, and it requires some maintenance after it’s set up.
Additional Resources for Fintech Launches
The four digital marketing strategies above can help any fintech startup launch smoothly. But really, they’re just the tip of the iceberg. There’s so much more that can be done!
For example, you might want to put together a step-by-step plan about how to use each digital marketing strategy. You will need to identify your target market, pick an outreach strategy (or two or three), and then commit.
We’ll write more about how to launch a fintech or startup soon. In the meantime, check out how we’ve helped other technology companies find their footing using a combination of the methods in this blog!