Financial technology (fintech) is one of the fastest growing fields in recent years. It’s employed by financial companies and banks via innovative developments. Fintech is also considered to be a partnership between traditional financial companies and technological enterprises.
Fintech companies raised $20.4 billion in 1225 deals during Q2 2022, according to CB Insights. During the same period, 20 new fintech unicorns (startups valued at over $1 billion) have emerged. There are now a total of 297 of them in the world.
You can learn more about financial technologies, types of fintech apps, and their development on a separate page called ‘Development of Fintech Apps and Services.’
Along with the popularity of the field, the abundance of players on the market and the competition between them, fintech companies have become increasingly faced with other specific obstacles greatly affecting both their success and revenues. But there is a solution that can change the balance of power, which is what we want to talk about below.
Fintech marketing is a separate area of marketing that encompasses all the tools and techniques that a fintech company can use to communicate its brand, build its community, gain customer loyalty, and grow its business. It’s partly based on the same principles as traditional marketing used in other fields. The same goals are achieved as with the aid of traditional marketing, such as the trust of customers, as well as the credibility and reliability of the company.
How to achieve all this? How to earn the trust of potential customers, increase the credibility of the company, and prove its reliability?
This is precisely what fintech marketing does. It must be carried out every day, just as your product is being developed and refined, or new features are being introduced. This work should never be halted, even if your company has already gained credibility and built a community of loyal customers because financial services involve some risk.
Those who don’t use fintech marketing may lose all the fruits of their back-breaking labour. It will be much more difficult for these companies to return to the same level later on. And if they also ruin their reputation and lose some of their clients, they will no longer be able to fix their faltering business.
There are several directions of financial technology marketing that combine to help your startup earn a name and reputation for itself, as well as build up a community if you are just entering the market. The core directions need to be developed even if your company is far from being a beginner, but also wants to increase brand awareness, improve its reputation, or attract new customers.
We recommend the following 8 work directions for your financial technology or cryptocurrency business.
This is the formation, development, and maintenance of a community of individuals united by common interests or goals. It’s a way for businesses to interact with clients through a network in which all participants can communicate, share information, and feel connected to the company.
The main task here is to build up a community focused on your fintech project or product on social media channels. It will attract new customers, as well as help to determine fundamental values and understand the needs of your target audience.
Read more on how to do community management.
This is the creation, promotion, and monitoring of positive content concerning your fintech brand or company in the media and on social media. It includes the following 6 types of content:
The main task here is to post positive content about your brand from third parties on various social networks, media platforms, and online forums. It will help improve your online reputation.
Read more on how to do reputation marketing.
This is the promotion of your brand or product via popular bloggers on social media networks such as YouTube, Facebook, Instagram, Twitter, Telegram. These authoritative figures are called influencers or opinion leaders because they are recognized by hundreds of thousands of followers. Therefore, they can influence the audience through calls to action and content.
The main task here is to collaborate with influential bloggers, provide ready-made or create content together containing a product review. It will help expand your brand’s reach on social media networks, attract an audience, tell everyone who you are, what you do, as well as what your product’s goals and prospects are.
Read more on how to do influencer marketing.
This is the generation of thematic ideas that your community, clients, users, or potential buyers like, the presentation of these ideas in text or graphic form, and the publication of this information in a convenient format.
The purpose of content creation is to attract new and repeat customers. With this, you introduce the brand to the audience and provide readers with information that will motivate them to buy your product.
High-quality content helps to solve such tasks as:
Read more on how to create content.
This is a means to increase brand awareness and create a reputation for a company that employs professionals. By learning more about a new fintech company and getting to know its employees, customers begin to trust the brand. This has a positive effect on sales volumes.
High-quality PR articles help to solve such tasks as:
Read more on how to promote PR articles in the media.
This is optimization for search engines and promotion on them, which are carried out to improve the website’s position on SERPs for particular queries and get more organic traffic. SEO is a rational way to increase the awareness of your target audience about your cryptocurrency, blockchain, NFT, DeFi, dApp, or crypto wallet. It will help your website acquire credibility and trust in the cryptocurrency ecosystem.
An effective SEO strategy will allow you to:
Read more on how to optimize and promote your website.
This marketing channel has been restricted since 2018, when Google, Facebook, Instagram, and Twitter banned everything concerning cryptocurrencies from being placed in their ad networks. In 2021, Google and Facebook revised their policies and removed the ban on paid advertising for some cryptocurrency products and services, but imposed strict requirements for them, including the need to provide a licence.
Read more on how to purchase pay-per-click ads.
This is a free distribution of coins or tokens that a crypto project conducts to attract an audience and increase interest in it. By giving away a certain supply of tokens, the organisers use them as promo flyers. This allows you to save a little on marketing, which is necessary when launching. It will additionally increase demand for the new cryptocurrency.
Airdrop also helps to stimulate your community. The emergence of a new cryptocurrency given out for free will arouse interest in the project. Those intrigued will begin looking for detailed information about the development, follow updates and roadmap progress, and will also start trading their received tokens on exchanges.
Read more on how to hold airdrop campaigns.
Each of the aforementioned directions fulfils their mission in the overall formation of the company’s recognition and reputation, as well as in creating positive public opinion. To achieve this, you need to carry out a lot of quality work, while possessing a deep understanding of a set of actions, responsibilities, and different processes.
Let’s take the first direction, that is, community management. Here you need to perform the following tasks every day:
Nine time-consuming tasks were accumulated in one direction alone, each one of which is necessary to achieve a common goal. In addition, each one has its own subtleties, without knowing which could complicate your work on marketing financial technologies in the future.
Let’s say that the monitoring of the mood in the community is carried out improperly and carelessly, and working with objections causes only negative feelings amongst participants. This will lead to frustrated members no longer using your product, with some writing negative reviews about you everywhere. In this way, you could lose the potential customers that those same community members could have attracted if they were happy.
Please note that you need to work out each direction thoroughly and competently, not just somehow. If you are entering the market with your fintech product for the first time, then you should use almost all these directions simultaneously. After all, the reputation that you form at the very beginning will affect your company’s development.
The success of a fintech or crypto project depends on who and how well is marketing it. You, therefore, need to choose marketers carefully.
If you contact amateur freelancers, then most likely they will stretch out the work for months, and in the end they will still do it poorly. In addition, you first need to find them on freelance marketplaces, check out suitable candidates, form a team of at least 8 people, one for each direction. Then someone will have to coordinate their actions, and this is another person for the role of team lead. Low-quality marketing will lead to poor performance and damage to your business reputation. It will also increase the cost of redoing the work later on when a deteriorating situation has to be corrected.
We believe that such important work can only be entrusted to a professional team that has experience in marketing, understands financial technologies, and acts in concert (often under the guidance of their team lead). It will definitely create a positive brand image, increase confidence in your product, and attract new customers.
An effective process for cryptocurrency project marketing looks like:
You can try to do the analysis and write the ToR yourself if you have the relevant experience, or order them. And if you have any difficulties, then we could carry out these for you, regardless of who will be later involved in your marketing.
Polygant has been working with fintech, blockchains, and cryptocurrencies for 10 years, so our specialists are competent in crypto project marketing. Write to us on Telegram or via the contact form to discuss more about how we can help promote your project.