The changing ways in which businesses are operating these days we've seen the rise of finance and technology infused companies - or Fin-tech as they're more commonly known.
With this growth spurt comes opportunity for a number of industries. One in particular is Marketing. Innovative ways in which Fin-tech companies are operating has meant that their marketing teams have had to have been on the ball. This is no less more difficult when you factor in the rapid changes of the industry and regulations.
Therefore, if you operate in the growing Fin-tech industry then you'll need an idea of how this collaborates with your marketing team. So let's answer a few basic questions first.
What Is Financial Technology – Fin-tech?
In a nutshell, Financial technology (Fin-tech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services.
Broadly, the term "financial technology" can apply to any innovation in how people transact business, from the invention of digital money to double-entry bookkeeping.
'Fin-tech now describes a variety of financial activities, such as money transfers, depositing a check with your smartphone, bypassing a bank branch to apply for credit, raising money for a business startup, or managing your investments, generally without the assistance of a person.
So, the importance of Fin-tech marketing starts to become a bit clearer from here. As a Fin-tech company you need to stay one step ahead of the market you're trying to disrupt - long before the big players start to catch up.
Changing trends in Fin-tech
In 2020, we're continuing to see Fin-tech grow and change, so much so that trends are starting to take shape already and are byproducts of what we've seen in a revolution of finance and tech together.
The top trends that are starting to revolutionise fin-tech and, in turn, change how Fin-tech companies market themselves is listed below
- Digital Only Banking
- AI Bots
- Innovative payments
Companies are quick to latch onto new trends before they become saturated and the pivotal way to do this for Fin-tech is through a coercive marketing strategy.
Fin-tech & Marketing
Through strategies such as Inbound Marketing, Fin-tech companies are growing client bases using knowledge and content to inform and enthuse potential clients.
Unlike interruptive traditional methods, Inbound marketing is about attracting the right type of customer to your business, pulling them towards you, instead of pushing yourself towards them.
For a niche, rapidly growing industry, the knowledge base for Inbound marketing has become pivotal in aiding their growth.
The technique focusses heavily on content marketing, email marketing, search engine optimisation (SEO), website optimisation, lead generation and social media, to increase brand awareness and create high quality sales leads for your business.
Reasons why Fin-tech companies should use Inbound Marketing.
With the majority of fin-tech consumers beginning their buying process online, it’s crucial to have an established online presence.
There are a number of reasons why Fin-tech companies should opt for an inbound marketing strategy:
- Brand Awareness
- Lead gen
- Marketing & Sales alignment
The above lists just some of the positives of Inbound for Fin-tech companies, you can read the extensive list here.
Hubspot offer an efficient and flexible model for Inbound marketing and through a CMS that is optimisable and transparent in driving lead gen/SEO results then you can fully maximise your Fin-tech marketing objectives.
Migrating to Hubspot for Fin-tech companies.
One of the benefits of having your blog hosted with Hubspot is the fact that you can easily manage your inbound campaigns. There are a lot of reporting benefits by having using Hubspot for your blog.
- All in one service, allowing you the ability to combine tools
- Take social strategy to a new level with integrated and up to date feeds and reporting
- Easily editable website interface
- SEO Friendly
- Analytical in providing reports and a reporting dashboard
- Can shedule posts for future publishing.
You may have noticed some of the above on other channels, however, Hubspot are different in that they offer you all this in one place!
One of the only cons to migrating your blog away from WordPress in particular is the fact that WordPress is so expansive when it comes to plugins, you may not get the entirety of customisation as you would wish.
Hubspot does allow for a degree of development and customisation but it requires the knowledge of a web developer rather than just installing a plugin.
Read: Pros and cons of Hubspot
So, now we know that there are tools and trends that can help shape and drive results for Fin-tech companies in Marketing, it's important to look at how we can see our results at the end.
Strategies that yield results in Fin-tech Marketing
If your company is competing in the Fintech space, it is essential that you follow a well thought out planned strategy to find new customers.
Content is Key
It is important in this industry that you create content that instils trust in the readers who may very well become a customer. You can optimise content through a CRM like Hubspot offers.
For the fintech industries, lead nurturing is very important for your sales process. Marketing automation platforms like Hubspot allow you to nurture leads that you have on your CRM.
Retention through engagement
It is essential that you keep your current customers engaged so that they keep buying from you for as long as possible.
You can see a more extensive view on strategies that drive results here.
Data Privacy for Fin-tech
As we know, the Fin-tech sector is one of the biggest changing industries as more and more companies are now becoming more adventurous with their business ventures and this also includes smaller companies taking on big data to disrupt the market.
However one thing that has also moved in quick speed is the growing pressure of Data privacy, which has thrown up opportunities and challenges for Fin-tech marketeers in particular such as:
- Digital Banking
- Industry sanctions
Read more on the growth of data privacy here
As you can see from the above, the rise of Fin-tech Marketing has been rapid, and many facets of this are down to consumers change in needs but also their need for new information about the industry.
Inbound marketing is one of the biggest advocates of pushing information as opposed to hard selling to potential customers.
With Fin-tech having a strong connection with the need of information and consumer awareness then an Inbound strategy for marketing resources is a pivotal element of growth.