Tue, Mar 28, 2023
In the time of digital marketing, start-ups can still opt for effective marketing solutions within a limited budget. Committing to the third-party tools monthly purchase or hiring a specialised social media agency is not a feasible option for an ambitious fintech start-up in its early kick off. The key word here is creativity, beyond big marketing campaigns all is required is to utilise the assets you have and strategize accordingly.
In the early stages of strategy planning for the online presence of your Fintech start-up, Mr. Jawdat Shammas, a Digital Marketing Expert shares his best advice for aspiring entrepreneurs at the AB FinTech Bootcamp , “Fintech start-ups should not be obsessed with showing their advertisement to the largest number of people and should outgrow the old way of marketing.” – he says.
When it comes to developing the perfect message for your product, marketing for start-ups can be challenging. As a FinTech start-up Founder, your job is to determine the best way to present and advertise a cutting-edge service. Your proposed solutions are often new and innovative, it’s a priority to position your product in the market in a way that’s attracting the right -again not wide- range of audience.
There are a few pillars to take into account in order to ensure an efficient marketing approach for your start-up, here is all that you need for a well-rounded start.
Keep it simple
Start with a simple yet a comprehensive plan. Begin by identifying your target audience and creating a detailed buyer persona to help guide your messaging and marketing efforts.
‘What we try to do with digital marketing is to influence our target audience decisions.’ Jawdat shammas declares. In order to do that, you will need to define your persona based on demographics (age, gender, and geographic location) as well as psychographics (lifestyle, interests and values). The latter can provide insights into how your buyer persona thinks and behaves, and will help you to deliver content that resonates with them.
Make it Personalised
People demand personalization and expect it from their favourite brands, personalised campaigns will make the client feel valued and heard. Overlooking this point can cause unfortunate losses. An Accenture report in 2017 stated that 41% of clients left to competitors due to the poor personalization experience and lack of trust. The cost was a staggering $756 Bn for U.S. companies.
Your message should be customised, shared at the right time to the right person in order to secure retaining customers, capture the attention of prospective users and eventually loyal buyers.
Data is the Backbone
Without gathering customer data, personalised marketing is not possible.
By gathering data from a variety of sources, including website analytics and customer surveys, marketers can more accurately track how their campaigns are performing and understand the customer journey. This enables them to analyse customer behaviour, identify weaknesses in their campaigns, and make necessary adjustments to optimise results.
Diversify your Paid Media Channels
It’s true that there are many channels out there, but what's more important than choosing the right one? It’s choosing the right content and thinking of your customer’s journey first and foremost.
Whether it's social media, email campaigns, Google SEO, don’t obsess over showing your messages to as many people as possible, but reaching the right people is way more important. No matter what you think of a channel, remember personalisation is key. Customers today are more conscious about the ads, so the more personalised your message is the better results you’ll get.
Delivering the necessary information through the wrong channel just results in a weak audience base. For each individual target customer, a wide variety of media must be taken into account.
For example, social network utilisation is meant to maximise the use of each platform, by understanding that Facebook targets masses, Twitter features live event updates, first release of news updates and a platform like Instagram features high quality visuals and cater mostly to the local community through micro and macro influencers will help you decide at early stage on your main platforms and media channels of choice.
An essential fintech digital marketing strategy is to educate rather than sell
Wouldn't it be amazing if a market leader offered helpful information in a world where everyone is attempting to sell you something? Your fintech company’s credibility can be increased by using articles, videos, tweets, blogs, webinars, and ebooks. This will help your start-up target the right audience, excelling at educating clients rather than merely pushing products.