Marketing is never easy; you need to pitch your brand in a way that appeals to customers and tells them why they should pick you over the competition. And the competition is huge!
So, how do you craft a successful campaign? What marketing errors do you need to look out for when marketing your fintech company?
In this article we are exploring these potential pitfalls in order to help you navigate them!
Not embracing social media
It helps to be present and aware of your brand’s online appearance. Many sectors have fallen foul to ignoring and avoiding social media. According to Incisive Edge, banks were a prime example of this, citing a report from Carlisle and Gallagher Consulting Group that revealed 87% of consumers perceived social media usage by banks as being dull, irritating, or unhelpful.
Your audience is on social media, so you should be there too! Securion Pay noted that an effective marketing campaign needs to consider Millennials, of who 84% have smartphones and 78% are on them for more than two hours every day. Embrace this and establish a strong presence on social media! Just make sure you have an effective plan for each channel — content for Twitter might not work as well on say, LinkedIn.
Keep an eye out for complaints. Even in the event you get negative feedback, the way you deal with it will be seen just as much as the original comment. You can turn a negative into a positive: show ownership of the feedback and resolve it quickly. If you ignore it, the chances are the unhappy consumer will feel stung that you have ignored their attempt to reach out to your directly and give you a chance to respond. They will turn to other websites to tell other people of this experience. As social media and customer services expert, Jay Baers says: “A lack of response is a response. It’s a response that says, ‘We don’t care about you very much’.”
Got something major in the works? Great! But before you rush off to tell the world, take a moment to pause. Would the news be better used slowly? Incisive Edge advises FinTech companies to consider an embargo if you’re heading to a trade show soon.
You can create a press release, but hold off on its release. Place an embargo on it, so that your press sources can’t publish the news until a certain date, such as the trade show or another effective date for your company. This not only stirs up a sense of excitement, but it also lets the journalists and content writers have more time to write an engaging and detailed piece.
Ignoring the offline side
Don’t neglect offline marketing. The world of offline marketing is still going strong, and it’s a great way to build your brand and get it noticed. For example, Delineo reported on some highly effective FinTech marketing campaigns, including offline print marketing. In the report, a robo-advisory firm was shown to have created a brilliant offline campaign that saw printed adverts placed through the underground tube network. People don’t have great signal on their phones at underground stations, so tend to notice and read printed adverts more!
It doesn’t have to be a huge expense either. Are you headed to a trade show or exhibition soon? Seek out a provider of PVC banners and get your brand and goals printed up for your stand! Banners are a great tool at exhibitions, and tend to be more effective than digital ads at these events, with customers recalling the brand from a banner long after the show has ended.
Your word choice heavily impacts the success of your marketing. There’s no use having a well-placed digital advert or a beautifully designed banner if the language used is dull and uninspiring. Often overlooked, the use of language is a complex skill that can make or break your intended message. There’s a reason why so many people study language at high academic levels!
What are your goals? What are you trying to tell the customer? At a basic level, new technology is designed to solve a problem, so tell your audience this. Words like “innovative”, “cutting-edge”, “rapid”, and “simple” can help address technology woes such as slow loading apps or complicated processes. After all, FinTech is a disruptive innovation — tell the world how it’s shaking up the banking and financial sector.
Your brand needs to be advertised, but it needs to be advertised right. FinTech is a fast-growing sector, so it’s vital that you keep ahead of the game. Keep your marketing strategy strong and wide-reaching with these campaign tips.
Author bio: This article was created by Where The Trade Buys — UK specialists supplying selfie frames. This brand has around 150 employees with bases in London and Sunderland.