Fintech services startups have heavily influenced the way we manage finances and exchange money. These companies, in addition to the existing banking system, make for a much better experience for the customers. Here are some of the branches in which fintech is rapidly developing:
Blockchain, data, and analytics are two of the financial technology services that have become popular over the last few years. Blockchain goes much beyond bitcoin and other forms of cryptocurrency. Interestingly, banks now comprise 30% of the money flowing into blockchain investments. So, it is no longer a question of tech vs finance in terms of the industry, but a marriage of the two to make lives simpler.
Starting a fintech company can pay dividends in the future. But it is important that you implement the best marketing strategies to ensure the success of your company. Here are the major rules your company must follow to be successful in this new, competitive field:
Global investments in the fintech industry have reached over $100 billion. So, it is almost guaranteed that you’ll have success if you promote your brand effectively. Here are the five tips you should follow:
What’s important is that you don’t interpret the metrics for your product in isolation. The four metrics you need to stay updated on are:
You’ll want to lower the cost per customer acquisition as much as possible. This is the amount of money you spend to gain a new customer. The readings that should be on the higher end are ROI, percentage of active users, virality, and scalability.
The virality of your product is a measure of how much it can be recommended. Elsewhere, the percentage of active users shows how many people are using your product. Remember, what gets measured gets managed. So, you should be working to improve these four major points immediately.
This is something that the top fintech companies have adopted as a core value. Forming a relationship with the customer is the best way to ensure long-term success for your brand. You should work to develop an understanding of your customers on a deep level. This includes their hobbies, interests, and internet searches.
Offering people a product that they appreciate is crucial towards gaining their trust. Try to overdeliver when you can, since it shows your users that your brand is reliable and is hardworking.
Just like the previous point, the top fintech companies are all visible. They have pages on common social media platforms and create engaging content. Facebook, Instagram, Tik Tok, Twitter, LinkedIn, Reddit, and Youtube are some of the most used social media channels. Coming up with innovative ways to spread awareness about your product will determine your success in the future. Try to create personalized content for your users, which will help you gain the ideal customer more regularly.
You don’t just want to sell your product, but also show your customers that you care about their experience. Try your best to make your social media presence engaging. Reply to comments and messages whenever you can, or have someone to handle this aspect.
Using influencers to market your product is the next big thing when it comes to reaching out to your customers. The stars on social media already have the attention of their fanbase, which makes it easier for you to deliver to an engaged audience. This doesn’t mean that you only have to reach out to people who have millions of followers. Micro-influencers with 100- 500k followers can also get you the leads you want.
Choose from any of the names on Youtube, Facebook, Twitter, or Instagram. As a rule, you should pick the influencer that matches the image you’re trying to depict. Appeal to an audience that actually has the need for your product.
On the other hand, you can also use referral programs to your advantage by offering existing customers benefits if they get you a new lead. Developing an engaging rewards system helps you build loyal customers, and rewards them for their help.
Make use of the elaborate online ad campaigns, since this is the future of advertising. Gather metrics such as demographics, interests, keywords, images to appeal to your target audience. You should optimize Google, YouTube, and Facebook Ads in 2021. Don’t resort to physical ads like billboards, newspapers, and TVs. Make use of online SEO tools to build your online presence, and you’ll be surprised at the positive results.
When we mention the phrase ‘new age bank’, we mean that financial technology services are future-proof. These companies offer their customers credit technologies better than the current financial system in place.
They also offer rewards and cash-back offers that normal banks don’t offer, and at no additional cost. They also bypass the hassle of presenting a credit score and give their customers a great experience. Check out some of the best startup credit cards here. You can gain access to ATMs and access to future updates that traditional banking companies are not likely to offer.
So, if you’ve thought about starting a fintech company, there is no time like the present to get started and our experts will help you. With investments in fintech companies skyrocketing, you can be assured that you will have success if you build the right model. Lastly, be sure to use the marketing strategies we’ve laid down for you to help build your brand today!