A fintech company is a business that is primarily designed to function with the use of technology as its primary asset. Typically, these kinds of businesses are related to finance and specifically deal with digital currency or financial transactions. Those who own a fintech company know how important it is to market their services in order for them to become profitable and continue on as a company. Read further here for some marketing tips to assist you in your efforts.
1) Use Paid Advertising Sparingly
If your business primarily deals with the digital currency space, it is ideal to use paid advertising sparingly – if at all – so as not to confuse potential customers about the true nature of your business. While this tip may seem like it deviates from typical fintech marketing strategies that involve paid advertising, it makes sense if your fintech company’s operations involve digital currency transactions. Digital currency is still a relatively new and unregulated space, so it’s best to keep paid advertising to a minimum where possible since there is no established precedent for how digital currency should be treated in the media and other mediums of communication.
2) Utilize The Press
If you can secure coverage in the press (print or digital), that would likely provide greater results than paid advertising. This makes sense because the press has an established platform where they communicate with large groups of people who are interested in information related to finance and technology — both of which are interests commonly associated with fintech companies. You should also strive for coverage on more traditional news outlets like TV, radio, magazines, etc. this should help ensure that the nature of your company is portrayed in the right way.
Give Them What They Want… Or At Least What They Think They Want
Following up on the tip above, many companies fail to get press coverage because they are not giving journalists or reporters what they want. The best way for you to figure out what kind of news stories/pieces would be valuable enough for you to pursue is by understanding your target audience and/or customer base. Try to imagine yourself as a member of that audience and try to understand the questions that they may have about digital currency or fintech companies, then think about how you can address those questions throughout an article, etc.
3) “Networking” Isn’t Just For Your Life!
As it pertains to fintech companies, networking can be defined as the process of building beneficial relationships with various other organizations. For instance, perhaps you could network with local credit unions who may have an interest in your company’s services because they want to reach out to potential customers. Networking is a fantastic way for you to not only become familiar with other businesses or individuals that are related to digital currency/finance, but it can also provide you opportunities for investment and possibly speaking engagements at conferences where the size of your company has value. As a fintech owner, it is vital to establish relationships with other companies/institutions related to your business operations. In addition to this point, networking can provide an endless stream of opportunities — from speaking engagements to investment opportunities — which can help you to grow your company.
4) Social Media Is King!
You better believe that social media is king when it comes to promoting your fintech company! All things considered, Twitter should be your primary social media platform since so much of the news that journalists cover gets broken on Twitter before any other outlet. With this in mind, you should always try to search for your company name and related hashtags to see what kinds of things people are saying about you. If there is a large enough discrepancy between favorable and unfavorable comments, you should address the problem in a friendly and professional manner in order to maintain your company’s integrity in the eyes of consumers.
5) Have A Mobile Application
I’ve found that having a mobile application can help tremendously when it comes to marketing since it creates an additional “layer” through which users can become familiar with your brand. This is particularly true if you can develop something unique (and useful) such as an app that allows customers to purchase digital currency directly from their smartphones. At the end of the day, a well-designed mobile application is one of many tools that fintech companies can use to establish themselves as thought leaders within the digital currency community.
6) People Love Free Stuff’
Think about the last time that you went shopping for clothes. Chances are, there were at least a few items that caught your eye but their price tags ultimately dissuade you from making the purchase. However, what if your favorite clothing store offered free t-shirts to people who spent $100 or more? It can be safe to say that many, many people would walk right past those pricey items and head straight for the discount section of the store… And this is exactly why giving away free stuff can be an excellent way for fintech companies to promote themselves — particularly during times when Bitcoin / digital currency values are low.
7) Be A Resource For Other Organizations
There are all sorts of companies that you could reach out to, which may help you promote your own fintech company, but it’s important to focus on those businesses/individuals who are either directly or indirectly related to digital currency. One way for you to do this is by offering your services as a consultant or attempting to secure speaking engagements or presentations at conferences. This is one of the easiest ways for you to essentially advertise yourself as a resource person or an authority in fintech since many other corporations may feel inclined to use your services after seeing how knowledgeable and experienced you are.
Another way for you to generate leads is by publishing posts on LinkedIn Pulse to provide prospective audiences with insights into digital currency. In other words, people who are on LinkedIn often read these posts and decide to follow you because they appreciate your opinions on the matter. If you can think of a way to share your knowledge with others in a compelling manner, then utilizing this type of marketing strategy is highly recommended.
8) Understand What Your Customers Want
Marketing your fintech business ideally requires training and expertise in the finance and economics field. Unfortunately, this isn’t always going to be the case with other individuals who own a similar type of business. In order to avoid disappointment/failure, it is highly recommended that all fintech owners conduct thorough research into their target markets in order to determine what people — particularly those who are interested in digital currency — want from their prospective companies.
Fintech is becoming more and more popular, and while Bitcoin values might be low, this offers excellent opportunities to generate leads and promote your company. Just remember that while we might be in a bear market, there’s never any harm in holding onto coins and waiting for the next bull run to do some damage! It can be easy for fintech companies to get caught up in the day-to-day operations of running their business and lose sight of how important it is for them to advertise themselves. By focusing on the tips provided in this article, you will be able to generate a steady stream of leads.