Did you know that the global financial services market is estimated to be worth $37,484 billion by 2027?
Fintech brands are booming as more users handle their money digitally using innovative apps and platforms. You can expect the financial technology industry to be a complex space to market, but it’s not impossible. Creating strong content marketing strategies that resonate with your target audience and maintain user retention is important.
To effectively implement the most impactful strategy for you, it is crucial to have a clear understanding of what fintech marketing entails.
What Is Fintech Marketing?
Fintech marketing includes strategies optimized for financial tech businesses and firms. Fintech companies use integrated technology to deliver financial services to customers. You’ll find fintech brands like lending, banking, or investing apps in your phone’s app store.
Fintech firms compete against traditional banking and lending institutions. Therefore, fintech marketing has to be innovative but trustworthy to retain long-term customers.
Whether it’s using virtual reality to advertise your product innovatively or creating a rewards system to manage customer retention, there are many strategies you can use to market your fintech brand.
We’ve listed the best fintech marketing strategies to stand out from close competition and support business growth.
- Content Marketing
- Partnership Marketing
- Experiential Marketing
- Collaboration Marketing
- Community Marketing
- Mobile Marketing
- Social Media Marketing
- Bold Branding
- Ad Campaigns
- Benefits and Challenges
- Choosing a Fintech Marketing Agency
1. Content Marketing
Content marketing can help your brand become more of an authority in your industry and establish trust within your customer base.
Examples of fintech content marketing include:
- Blog posts
- Data and case studies
- Mobile marketing
Focus your content on topics that resonate with your audience and your brand. For fintech brands, this would include personal finance, investments, and banking. Use these topics to organize your content — check out NerdWallet’s easy-to-use navigation menu below.
No, we’re not talking about the other acronym — seasoned equity offering — search engine optimization (SEO) in fintech marketing should be one of the highest priorities when developing your strategies.
A strong SEO strategy is incredibly impactful for growing your audience reach and accelerating organic traffic to your website.
- Google SEO: Google’s search algorithm rewards websites that follow SEO best practices, such as being mobile-friendly, crawlable, avoiding keyword stuffing, and being navigable.
- Keywords: When building out new content for your website, focus on keywords that correlate with your services or products. This will help bring in the right visitors to your website and increase the conversion potential.
- SEO strategy: A strong SEO strategy increases customer trust. The more advanced and thorough your website’s content is, the more credible you appear to potential customers.
You can also conduct a KOB analysis, or a Keyword Opposition to Benefit Analysis, to prioritize content topics that will be the most beneficial and rankable. This will improve your rankings on the SERP for keywords related to your product offerings while also increasing authority in your niche industry.
3. Partnership Marketing
Partnership marketing, also known as referral or affiliate marketing, is a marketing strategy that grows brand awareness and reaches new markets.
Partnership marketing involves referees and affiliates that share posts about your products and services on their pages. In return, you offer them an incentive, like a discount.
Some fintech companies lean into influencer marketing to share their products and services. For example, Tori Dunlap, a popular American investor and “finfluencer,” frequently shares financial tools and advice with over 33,500+ followers.
4. Experiential Marketing
Experiential marketing is an engagement strategy used to connect with customers in a physical space. Unlike content marketing or online marketing, experiential marketing aims to build an immersive experience for customers as a part of an advertising campaign.
Experiential marketing includes interactive exhibits, pop-ups, contests, and live events. This strategy helps increase customer engagement, grow your online presence, and launch new products or services.
For example, Venmo created a pop-up experience to launch their debit-card release. They used brightly-colored visuals to target millennials, their largest customer demographic, hoping they would take pictures and share it on their social media.
5. Collaboration Marketing
Collaboration marketing involves multiple brands working together to create a joint advertising campaign to promote products and services to similar target markets while increasing brand reach.
In Fintech, collaboration marketing can consist of:
- Joint social media campaigns and promoting each brand’s products or services online.
- Live events that involve multiple brands interacting with customers and each other.
- App integrations to connect multiple platforms.
- Influencer and celebrity campaigns that use pop culture icons in marketing to increase user engagement (we see you, Cash App investing ad).
Collaboration marketing can also be seen through the successful partnership between Apple, Goldman Sachs, and Mastercard in the introduction of Apple Card. Apple’s loyal customer base and Goldman Sachs and Mastercards’ banking services made it an ideal collaboration. Apple Card has 6.7 million cardholders as of the end of 2022.
6. Community Marketing
Community marketing is a great strategy to build a “community” around your brand and products — especially for fintech companies trying to expand their reach. Community marketing aims to nurture brand loyalty by marketing to an audience with similar values and interests.
This strategy involves online forums, groups, and communities, as well as in-person meetups and events. Brands run many of these to receive customer feedback and support interactions between the brand and the customer base.
Ness, a health-centered credit card startup, strives to create a community around physical wellness. As a credit card company, they reward customers who use their Ness Card on wellness products and services.
7. Mobile Marketing
64% of the global population use a fintech app to complete transactions with financial institutions. That’s why fintech companies must hone in on the mobile user experience.
Most fintech companies have a centralized platform, like a phone app.
The app must have:
- A straightforward interface with easy navigation
- Regular software updates
- No unnecessary pop-ups and widgets
- Fast loading speed
The user will stay on the app longer if they have a good experience, increasing the chances of them purchasing your services or products. If you don’t have an app, ensure your website is mobile-friendly. This means your website should be easily accessible on all devices.
8. Social Media Marketing
Social media is one of the most powerful tools fintech companies can use to share unique content and interact with customers. Social media marketing uses several tactics, such as promoted content, partnership and affiliate marketing, and community engagement.
Fintech companies can use social media to demonstrate products or services, establish their brand, and advertise how their offerings can benefit users.
For example, Cash App is a great example of a fintech company that leans into social media to spread brand awareness and promote celebrity endorsements — take a look at their tailored Instagram content for inspiration.
9. Bold Branding
As the financial tech industry becomes more competitive and oversaturated, fintech companies can struggle to become recognizable and attract customer attention.
Being unique with branding colors and typography will help you stand out:
- Choose a bright, bold color scheme and sleek illustrative design for your branding assets.
- Since you still want your brand to appear professional and trustworthy, avoid too much heavy contrast with colors and fonts.
For extra help, hire a graphic design team to brainstorm design styles and combinations.
Still images and copy aren’t the only content forms you should focus your marketing efforts on. As technology advances, so do the types of advertising you can test out — especially in the fintech space.
Simple interactives like quizzes and questionnaires can guide potential customers through a series of questions to find the best product — check out this Zebra calculator that breaks down how much car you can afford.
11. Ad Campaigns
Advertisement campaigns can help launch new products or services. The goal is to drive revenue for the product and grow brand awareness in the niche market. For fintech companies, ad campaigns are crucial for standing out from the competitive industry and growing a loyal customer base.
Fintech companies can find power in online advertising vs. television and radio. Paid advertising on social media sites like Facebook and Instagram shows incredible results. So much so that $30.7 billion went into digital ad spending in 2023 alone.
Gamification utilizes gaming elements to engage customers with various tasks. Gamification involves features like reward points, challenges, contests, and levels. It’s a great way to promote customer engagement and make brands more exciting to interact with.
For fintech companies, gamification can look like creating an educational tutorial for using a tool, but adding interactivity makes the process more enjoyable for the user. Mint, a financial tracking app, uses gaming elements to make user interaction more engaging.
How do you gamify a fintech app?
- Progress bars to track goals
- Badge systems to celebrate the user’s accomplishments
- Challenges and leaderboards to ensue competition
- High-quality design and animation for approachability and fun
Educating customers on financial topics is crucial for maintaining and growing your consumer base. Investing in education will improve your customer’s financial literacy and use of your products or services. It increases customers’ potential to share information about your products or services with other potential users.
Create readily available tools and resources on your website and app. Informational blog posts, video content, infographics, and guides help make information more digestible for the reader.
Fintech Marketing: Benefits and Challenges
Marketing your products or services is crucial to grow authority in your market and stand out from your competitors. There are many benefits to utilizing the fintech marketing strategies detailed above. However, you may deal with a few obstacles, as not every tactic will successfully grow your brand.
Fintech Marketing Dos
Below are a few of the most important do’s for fintech companies when developing their marketing strategies.
- Find new audiences: Developing a global fintech marketing strategy will help uncover unrealized markets that could benefit from using your products or services.
- Gain customer trust: For any company, but especially in fintech, authentic marketing strategies can build loyal customer relationships. These strategies can also promote trust between customers and technology — especially in fintech, which handles personal funds and information.
- Data collection: Fintech marketing taps into audience data, like buyer needs and pain points. You can use this data to alter your products and services to better fit the needs of your customers.
- Tech and finance education: Successful marketing strategies will improve financial literacy across your target audience. They’ll feel more confident and comfortable dealing with money and will continue to do so while using your financial tools and resources.
Fintech Marketing Don’ts
While marketing your brand with various strategies can help grow brand awareness and increase revenue, there are a few things you should be mindful of.
- AI: Don’t rely on AI to generate your marketing assets and content. Google rewards optimized content that follows E-E-A-T best practices in the YMYL spaces. Connect with a marketing agency if you need extra support developing content for your business.
- Business competition: The fintech industry is heavily saturated, making it difficult for new startups to flourish. It’s important to market features and services that make you unique.
- Cost: The average fintech marketing campaign cost ranges between $2,500-$25,000. Investing in new marketing strategies is always a risk, but investing in your marketing efforts will help you outperform your competition and grow your brand.
- User retention: Since there are so many similar fintech companies out in the market, it’s difficult to maintain customer loyalty. When converting sales, continue investing in your existing customer base. Accounts that feel valued and supported are more likely to stay a loyal user of your products or services.
Step Out Of The Box With a Fintech Marketing Agency
Think you may need some extra help with executing some of the best fintech marketing strategies?
At Siege Media, we can help develop aspects of your marketing strategy, like content marketing, SEO, branding, and interactive content, so you can continue growing your business.
If you’re interested in learning more about what Siege Media can do for you and your marketing strategy, check out our recent fintech case studies. If you want more information on our offerings, check out our services page or contact us with any questions about developing a successful fintech marketing strategy.