How Inbound Marketing Can Resolve FinTech Challenges In 2019

Industries that use financial technology (or FinTech) have been dealing with numerous marketing-related challenges in recent years. Given the fact the factors of technological innovation, risk appetite for new product development, compliance norms stipulated by regulators of the banking and financial system, the challenges facing the FinTech industry are varied and complex. As with any new industry vertical that is based on disruptive innovation, the FinTech industry is faced with a major challenge to gain traction among users in a manner that is affordable and scalable.

Amidst the dominance of conventional banking on the economy, FinTech is unarguably the new kid on the block and therefore the lesser of the two in the contest. Challenging the status quo requires powerful measures and easy solutions to attract users that involve overcoming the issues of lack of trust, transparency and brand recognition. We share these tips on how you can zero down the gap with the target audience by incorporating various inbound marketing strategies to resolve these challenges.

#1 Winning The Trust Of Customers

With the rise of the internet, many alternatives to traditional banking took shape as a result of the financial crisis during 2007-09. FinTech companies seem to be agile with when it comes to deploying digital marketing techniques. The biggest challenge in the FinTech sector lies in convincing new users to invest their money in an emerging and unfamiliar space that calls for taking necessary actions. In the digital age, most people from the millennial generation are tech-savvy, social media literate and busy professionals. To win the trust of these young and achievement-oriented people, you need to attract their attention with strategic content that ascertains the viability of your FinTech solutions.

#2 Initiatives To Augment Brand Recognition

As compared to established financial institutions, emerging FinTech enterprises and institutions mostly remain unpopular among the wider section of audience due to lack of brand promotion. As against age-old banking institutions that have slowly lost the trust of their users, FinTech service providers get lucrative opportunities to present the audience with better solutions by meaningfully differentiating their services. By following a strategy to highlight your brand in the positive light with inbound marketing advertisements and various smart stunts to supersede the age-old financial institutions, you get to enhance your brand recognition in a sure shot way.

#3 Identify Your Target Audience

With large-scale competition cropping up in the digital space, it is important for any FinTech company to identify the target audience to streamline the process of attracting them with valuable content. Understand the important social media platforms such as Facebook, Twitter, and LinkedIn that enable you to draw a well-defined list of your customers.

Instead of trying to embrace all segments of the traffic, showcase your brand offerings to your targeted audience. Address the challenges that they face with issues like speed, security, and privacy of online money transactions and present effective solutions with attractive content to generate interest from the customers. This, in turn, will increase the traffic to your website.

#4 Attract Your Ideal Customer

Inbound marketing techniques enable your brand to sort out the challenges of creating a network to navigate your potential customers towards your brand solutions. Whenever a user finds it difficult to get information, they turn to Google to search for results. With rigorous data analysis of the queries entered by the users, you can improve your brand visibility by creating a list of all the important searched keywords. Creating keyword based content that offers comprehensive solutions to a large section of your targeted audience enables you to attract the coveted traffic towards your website on a massive scale and above all to rank your website high on the search engine.

#5 Project High ROI

Research suggests that those FinTech companies and brands that can prove a strong return on investment (ROI) to customers are likely to receive higher and more fruitful resources. A proper revenue plan in place can attract potential investors towards your brand. To fulfill this purpose, maintain a symmetrical collaboration between your sales and marketing strategies to refine the ways in which the leads are dealt with, at any given point of communication.

With effective use of inbound marketing techniques of lead scoring, lead generation metrics and Service Level Agreements (SLAs), your marketing strategies get streamlined in a much smoother way, allowing you to transcend any challenge.

#6 Build Traffic To Generate Productive Leads

Search Engine Optimization (SEO) plays a pioneering role in growing organic traffic on your website and attracting the right audience at the same time. Make your website search engine friendly with the use of onsite SEO. Using the most appropriate keywords related to what your buyers are searching enables your brand to rank better in the search engines. Incorporate your content with attractive and informative details such as videos, images and powerful title and headings. Use of internal linking in your content that redirects the users to your website leads the customers closer towards your brand, which takes a lot less effort and offers viable results.

#7 Enhance Your Brand Dependability With A Blog

To communicate with a highly saturated customer base, FinTech companies can make use of blogging – a superb way to promote your brand visibility and credibility. Studies and researches have shown that companies that blog score higher on the search engines.

Get discovered by customers by keeping your content marketing strategy in sync with trending topics searched by users. It has also been noticed with research that those FinTech brands that use blogs on a priority basis are likely to achieve 13 times better results of ROI.

#8 Give A Human Touch

Offering effective solutions to the customers in a language they understand gives a competitive edge to FinTech companies. With effective use of chatbots, machine learning, and automation, overall communication with customers becomes a lot easier and increases their engagement and interaction with your online platform.

Applying these inbound marketing strategies by taking into account the various queries of customers in a timely manner and offering instant solutions position your brand as an expert within the FinTech sector. Promote your brand by sharing related videos and images on a routine basis on various social media platforms and you can also recruit a social media influencer to augment your brand visibility.

#9 Leverage Marketing Automation Techniques

With so many processes scheduled, automation of important marketing processes enables your brand to get better benefits in a small window of time. By automating various processes such as website optimization, redirecting traffic to landing pages, and content distribution, you get to analyze the results with live insights and make better alterations as per your performance. You also get to track ROI easily. Automation of your essential marketing techniques saves your time as well. It has been observed in recent studies that more than 49% of companies are utilizing marketing automation techniques to simplify the recurring marketing tasks such as managing leads, e-mails, and social media.

FinTech marketing faces a unique set of difficulties given that it is in a developing stage. Even though FinTech brands fall short on the brand popularity in comparison to established financial institutions, this can work in your favor. You don’t need to spend buckets of money to emerge via web-based networking media. Simply focus on building trust with your target audience, instruct them, and present yourself as a better option with your FinTech marketing endeavours against the inadequacies of the standard banking industry to receive maximum benefits.

 

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