Trending Demand Generation Strategies to Drive FinTech Growth

PRANITA SANAS | March 11, 2021

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Once referred to as an emerging market, FinTech is a young market with regard to time and investment. It is also an independent market due to its changing trends and regulations. FinTech brands have gained enough capital to grow and expand over the years. The increasing number of smartphone users and affordable internet connections suggest a paradigm shift in the nature of banking with transactions going mobile-first. Raising dependency on mobile banking, online payment, and mobile wallets are cascading from luxury to basic requirements, making it one of the top reasons for both challenges and growth opportunities in the FinTech market.

Besides, the FinTech market also includes businesses that provide AI solutions and work on risk & compliance management that is enabling companies to run smoothly even after the pandemic. Other winning sectors in the FinTech market are companies engaged in loans and insurance which are likely to do well. However, driving Fintech demand remains a key challenge for most companies in a fast-changing and evolving marketplace. By the end of this article, you'll be able to apply FinTech lead generation strategies to drive growth for lead generation for FinTech companies.

Balancing Finance & Technology


Technological advancement is dominating almost every market. Finance technology is emerging as an enabler for various industries helping and supporting finance teams to balance and manage their daily activities, financial close, collaboration, and documentation providing more visibility to transactions.

FinTech brands invest in developing frictionless and seamless e-banking solutions and other financial and money management services. The FinServ market is witnessing a change in simplified access, embedded financial services, and financial inclusion.

Developing a new product range allows FinTech brands to please investors to gain more funding and overcome other traditional investment barriers.

Proven Demand Generation Strategies for FinTech


If you are running a FinTech company, then FinTech marketing is all that's on your mind, particularly when the traditional banking companies are making up with the emergent technologies, best-in-class user experience, and expectations.


Here are the top strategies for FinTech demand generation.

Go mobile with your marketing initiatives


In the 21st century, everything is on mobile. If you aren't considering a marketing initiative around this handheld device, you're missing out on one of the most effective ways to connect with the target audience.

According to a recent study, on average, an individual spends 5hrs a day on a mobile device, and the time spent on mobile apps has skyrocketed a massive 69% from 2016. More than 50% of mobile phone users prefer online searching before buying anything. B2B FinTech companies need to focus on mobile phone users to get the most out of their marketing campaigns and reach their target audience.


Create valuable content


FinTech content must first address what problem it intends to solve, how it will solve, what are the benefits, what is its advantage over legacy processes, how it adds value, saves time and costs, drives growth, or simplifies processes. To create valuable FinTech content, you need to consider the following:
• Analyze your target audience
• Content competitive analyses
• Note down your content goal, whether it's for awareness, engagement, or conversion stage.


Segmented content hub - blog, white papers, case studies, eBooks, press releases, etc.
Create a content hub or digital library that houses all your articles, blogs, case studies, whitepapers, eBooks, press releases, etc. this is an effective way to engage the target audience and generate demand. Ensure that your content plan is organized so that you cater to the requirements of all the platforms and audiences. While you focus on creating content on trending topics, you also need to ensure that you create evergreen content. Create a content calendar for the year. This will help you plan the theme you are going to cover each month for your target customers to drive demand in a phased manner.

Create matchless video content to generate demand
Video content is the most potent form of content marketing. According to a survey, around 87% of marketers use video for FinTech lead generation. Videos are used in different ways to generate demand. Video marketing does not always mean creating a new video, but leveraging or repurposing an existing one, judging your investment, and creating a new video, if required. The key idea of video marketing is to get a slice of the market which is being influenced by the evolving taste of content consumption by consumers. Getting your content out in the most trending format will help you get noticed in the clutter, build brand awareness, and also convey your message to your target audience. Adding a form or a call-to-action at the end of the video gets you qualified leads.

Some of the commonly applied video marketing strategies include:
• Use video in landing pages
• Place video along with a form or other call-to-action button.
• Optimize video to various social media formats.
• Create a call-to-action button at the beginning or in-between the video; this can be a simple subscription invitation.
• Video testimony is an excellent form of video marketing that influences and builds a better relationship with your customers.


Social media trends for FinTech


Social media platforms are no longer considered a place where people connect and communicate in real-time. FinTech can be a challenging market to promote on social media. Social media cannot be a one-size fit for all, but it has amazing advantages over traditional marketing channels.

Be a thought leader
FinTech marketing is social media marketing. By domain experts in banking, finance, and insurance. It is a platform handled by individuals who are market leaders, contributors, or influencers.

Identify the most effective platform for your niche & promote your content on it
Identify your audience and promote your content on the most effective and relevant platform to reach your niche audience. Rather than being all over the place, you can choose to stay on one relevant platform to promote your business.

Get influencers to influence
Getting market influencers to your site can be a great way to increase on-page engagement. Promoting guest articles or interviews by market leaders to share their knowledge and experience in the FinTech or FinServ market.

Other useful ways to get influencers to your page include promoting a product/service, sponsored review, social media mention, running a contest on influencers page, getting influencer quotes on brand, creating a joint event, and promoting influencer content on your page.
  
Interact with your customers/end-users
Ensure that no comments or queries are unanswered or unattended. There are higher chances of them being your potential customers.

Host events (online & offline)


Hosting events both online and offline is a great way to reach your target audience. Events can be of different types – educational, promotional, announcement, launches, etc. Hosting such an event is an excellent idea to interact with your target audience. Ensure that you are listening/reading their comments to give them appropriate feedback. Also, apply their valuable suggestions whenever possible.


Collect data to channelize FinTech demand generation campaigns


In this data-driven world, it's easy to collect information about your customers. Effective FinTech demand generation starts with data. Make utmost use of the data and insights you gain from your research. CRM and analytics platform, carry out a detailed analysis into your users to better understand your audience's needs, build a FinTech lead generation campaign, and optimize your content, landing pages, CTAs, emailers, etc.


High-performing websites and effective FinTech lead generation strategies focus on addressing and solving user needs. These insights will also help you get the most ROI from your PPC campaign and paid activities on social media platforms.


Final Thoughts


Applying these strategies for demand generation will help you attain the desired business growth. These days, the FinTech market has overcome common challenges such as varying regulatory and compliance laws, trust issues, cyberthreats, lack of support from government bodies, industry-related complexities, etc.


Lag in digital banking experience


Uneven digital transformation globally in the banking industry is the key reason for the lag in the e-banking experience.


A new focus on customer experience


During this time of digitalization, focusing on customer experience is the best practice. Gaining customers' trust and loyalty is the most important factor that the FinTech market is looking forward to.


Shift from digital to mobile-first


The ever-increasing number of smartphone and internet users is among the top reasons why many markets shift from digital to mobile-first.


Invest in new technologies


FinTech brands need to develop new technologies and come up with new and innovative ideas to promote their products online and get the target audience to drive demand. Investment in fintech companies


FAQs


Q1. What are demand generation activities for FinTech?
A1. As mentioned in the above blogs applying following demand generation activities for FinTech market:
• Go mobile with your marketing initiatives
• Create valuable content
• Social media trends for FinTech
• Host events (online & offline)
• Collect data to channelize FinTech demand generation campaigns

Q2. How do you create a demand generation plan for FinTech company?
A2. Demand generation can be defined as a general practice to create need or interest in your product or service and converting passive audience into qualified leads.
To begin with, you need to have clarity about your customer base and potential audience to define your potential buyer persona.
Once you have your defined audience; make goals and create your funnel such as create an awareness content plan, lead generating content plan and conversion content plan.
Set up the tools or online platforms where you are planning to promote this content.
Invest in paid promotional activities and lastly measure your success.

Q3. Why is demand generation important in FinTech?
A3. Demand generation is a data-driven marketing strategy that is designed to nurture future goals. The most important factor of applying demand generation strategy is it helps in generating more revenue.

Spotlight

Aduno Group

The Aduno Group is a one-stop shop for all products and services required for cashless payment, from credit card issuing and card acceptance to payment terminals and rent deposit guarantees to personal loans and leasing. With its integrated business model and strong market presence, the Aduno Group can utilise synergies and generate added value.

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Search engine optimization (SEO) Pay-per-click (PPC) advertising Social media marketing Online Reputation management { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the latest trends in digital marketing for banks?", "acceptedAnswer": { "@type": "Answer", "text": "AI, augmented reality, voice search optimization, programmatic advertising, chatbots, personalization, automated email marketing, video marketing, Instagram reels, shoppable content, influencer marketing, and geofencing are just a few of the most recent digital marketing trends in the banking industry to watch out for. These new additions in the banking industry pave the way for a revolution in how financial institutes market their services." } },{ "@type": "Question", "name": "How do banks use digital marketing?", "acceptedAnswer": { "@type": "Answer", "text": "Banks use the following types of digital marketing to gain attention: Explainer videos to make complex financial concepts more understandable. Make your website the primary point of contact for your customers. Set up a YouTube channel to provide information-dense content. Marketing through email Marketing via mobile device" } },{ "@type": "Question", "name": "How valuable is digital marketing?", "acceptedAnswer": { "@type": "Answer", "text": "Digital marketing not only helps in saving money by bringing in customers at a cheaper cost than conventional marketing techniques, but it also assists you in increasing your income. The value of digital marketing can now be evaluated more precisely and the influence it has on your business may have a significant positive impact." } },{ "@type": "Question", "name": "How do you advertise banking services?", "acceptedAnswer": { "@type": "Answer", "text": "Make use of these five tried-and-true bank marketing strategies to raise awareness, attract customers, and do more: Content marketing: Content marketing is a kind of marketing that uses written content to promote a company's products and services. Develop textual, graphic, and interactive components for your website. Search engine optimization (SEO) Pay-per-click (PPC) advertising Social media marketing Online Reputation management" } }] }

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