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Fintechs Getting to Grips with Digital Marketing

Fintech is one of the fastest growing digital markets of recent times and consequently marketing activity in that sector is getting a lot of attention. A quick look at Google Trends shows that Fintech related search terms have seen significant growth in the past 12 months. On this evidence, many new and established companies have turned to digital marketing to get themselves noticed in a highly competitive arena.

Surprisingly, many Fintech companies have been slow to adopt digital marketing to generate interest and create both brand awareness and sales. It doesn’t necessarily follow that people who are great at designing and building ground-breaking Fintech solutions are going to be experts when it comes to digital marketing.

Begin at the beginning

Many companies starting out in digital marketing for the first time make the big mistake of forgetting what it is they are trying to achieve. It’s essential to ask some basic questions before even thinking about putting content out through the numerous available channels. It’s vital to have an eye on the prize! What is the desired outcome? What is the Goal?

Very often Fintech companies start with a problem that needs solving and progress from that point to the point where the solution has been found. Digital Marketing needs to be looked at slightly differently. It’s important to ask what the end goal is, because this will impact on the appropriate journey you need to make to achieve that goal.  In simple terms if you are trying to achieve greater brand awareness then social media or video might be your starting point, but if it’s sign-ups or sales that you’re interested in then you might want to consider Pay Per Click advertising.

Where is your audience?

Once you’ve agreed on the goal and the aim of your digital marketing, then your next step is to research where your audience is. It is often assumed that any given audience will be accessible through all digital channels and platforms…not true. Research should be carried out to determine where your target audience spend their time online. Are they browsing Fintech sites? Are they watching videos? Are they searching for research material? Answering these questions will help you choose the appropriate channel on which to deliver your digital marketing and set you up with the best chance of success.

Make people sit up and listen

Even after getting all the ground work in place there are several things to consider when creating the content that you are going to put in front of your audience:

What are you helping people to do? Does your product solve a problem? Make a process easier? In today’s 24/7, 100mph world of work and business, people are looking for things that will help them do things easier, better and quicker. If this is part of the solution you have come up with then make sure you communicate it effectively.

What does your audience look like? Who are they? Doing comprehensive research on the makeup of your market and audience will pay off. It’s possible, using many tools that can be found with a few simple searches, to find out where your audience work (industry sectors), what their demographic makeup is, and what their online behaviour looks like. Carrying out this type of research may show you that there are many different audience types you need to create content for.

Where are you taking people? Once you’ve got your audience’s attention are you going to show them what they need to and expect to see? This is often a neglected part of the Fintech digital marketing process, but it’s vital in making the journey from start to finish as successful as possible. Having a checklist for this final part of the journey is often useful:

  • Do your keyword research and apply it to your advertising content. This can be ad copy or web pages. Find out what people search for and build it into the fabric of all your marketing material.
  • Your website should be fit for purpose. User experience is a much used phrase in digital marketing, and there’s a reason for that. If your website is slow, not intuitive, badly laid out or difficult to navigate, people will go somewhere else. Ad this decision is often made after less than 10 seconds on the page they land on.
  • Make your solution your biggest selling point. Highlight how much easier your Fintech solution makes things.

Keep your eye on the data

The final piece in the Fintech digital marketing puzzle is reporting. Unlike traditional media it’s possible to measure almost every aspect of digital marketing, from views to time spent viewing, and from audience demographics to leads and sales. Without this level of reporting your digital marketing is not doing its job so there are a few final tasks to take care of. Make sure your website has analytics in place, Google Analytics is a good place to start and will give you everything you need and more. Link your site to Google Search Console (formerly Webmaster tools), this gives you another level of data from Google search and enables you to compare organic and paid activity.

With the growing market for cutting edge Fintech solutions showing no signs of slowing, it’s obvious that we’re going to see more new names crop up over the coming months and years, and with this being the case it’s the businesses that get their digital marketing right that are going to stand out in an increasingly competitive landscape.