Need for Digital Marketing for Fintech Startups - By Egniol

Need for Digital Marketing for Fintech Startups

Adjust and Apptopia’s Mobile Finance report 2020 found that the average number of banking and payment app sessions worldwide rose 26% in 2020 compared to 2019. The pandemic has increased the use of mobile apps, with finance being a clear winner. S&P Global Market Intelligence predicts app payments will reach $478 billion in 2020.

Installation rates indicate mobile devices’ growing importance in financial services. Even if your product is revolutionary, you must educate the market. Find early adopters and fuel growth with a solid digital marketing strategy. This article examines effective Fintech company promotion methods.

Adopt a mobile-first strategy

Besides going digital, it’s crucial that your fintech company is also optimised for mobile use. Actually, many innovative fintech firms have gone even further, shifting to a mobile-first strategy.

While Paytm is accessible via the web, the mobile app is required for login. In order to use the app, you will need to scan the code that appears on the website.

The online lender Navi is the same way. Blog posts and landing pages provide a wealth of information, but the site insists that its app be used for all financial dealings.

Educate, Don't Sell: An Essential Fintech Digital Marketing Strategy

In a world where everyone is trying to sell you something, wouldn’t it be great if a market leader provided useful information? Articles, reels, posts, videos, tweets, blogs, webinars, and ebooks can boost your fintech company’s credibility. You’ll gain customers’ trust and boost your business’s bottom line.

Spreading financial advice can help others. Zerodha excels at educating customers rather than pushing products. Zerodha Varsity provides free stock market and financial education from industry experts.

Harness The Benefits of Video Advertising

Need for Digital Marketing for Fintech Startups - By Egniol

96% of viewers watched brand page explainer videos in 2021, according to Wyzowl. Your company should use video marketing now that you know its potential.

Video content that can be shared across multiple channels and aimed at a wide audience is an effective form of digital advertising for fintech. Groww, a young people’s investment app with a large YouTube following, is unknown in India’s fintech industry. The company has YouTube channels for novice traders on the ‘Trading With Groww’ channel, young adults on the ‘Groww Plus’ channel for personal finance, career development, and relationship guidance, and Tamil speakers on the ‘Groww Tamil’ channel. Groww has 5 channels for regional YouTube advertising.

Video marketing requires more than a YouTube channel. Instagram Reels, Facebook Stories, and pop-up videos are options.

Partner with Influencers

While popular brand accounts on social media have thousands of followers, several prominent influencers have millions of followers. CRED has approximately 84,500 Instagram followers, for instance (in January 2022). They recently collaborated with Bollywood actress Deepika Padukone for their holiday promotions. 63.9 million followers on Instagram! Collaboration with niche influencers will therefore benefit your fintech organisation.

Again, Groww is an excellent illustration of effective digital marketing for fintech companies. The fintech player has collaborated with over 20 YouTubers to promote its products and services, including Nitin Bhatia, Labour Law Advisor, Basic Gyaan, B Wealthy, and Praveen Dilliwala.

Use social media platforms as a weapon.

A classic that never gets old! Most people spend a lot of time on social media; you need a presence to promote your products and services. Determine which social media platform will work best for your fintech digital marketing strategy. Because each social media site has its own pros and cons, you must first identify your ideal audience before researching which sites they are most likely to use. After this research, you can create niche-specific content.

CoinDCX is a model of fintech social media strategy. CoinDCX, India’s first cryptocurrency unicorn, uses Instagram. It offers advice, quizzes, polls, and viral memes to teach cryptocurrency. CoinDCX promotes its tweets on Instagram by using screenshots. Venmo, a mobile payment service, has a social media-like user interface.

Send Personalized Alerts And Messages

One of the most important factors in a company’s success is the quality of the relationships it has with its customers. One strategy is to develop a powerful system of personalised messaging that directly addresses your target audience. There is no denying the connection between timely communication and continued patronage.

Your messaging will go over extremely well if you focus on the user’s experience. Take Paytm as an example; the app’s clever and helpful reminders to users about paying bills on time are just one example of its many positive features. Ingenious and effective use of memes, current events, and regional dialects to convey meaning.

Make Your Brand a Jargon People Use Everywhere

A small number of companies, both in the fintech and non-fintech sectors, have succeeded in implementing this strategy. Take Xerox as an illustration; the word “Xerox” has completely supplanted the term “photocopy” in India.

Paytm is an Indian fintech company that has achieved this. The slogan “Paytm Karo” has effectively replaced the phrase “UPI transaction.” An experienced digital marketing agency for fintech can be an invaluable asset in helping you take your brand to new heights if you aspire to reach this level of fame.

Investigate Opportunities With Existing Clients

Need for Digital Marketing for Fintech Startups - By Egniol

Nothing beats expanding business with existing customers. They’re easy to cross-sell or up-sell.  CRED explores opportunities with existing customers. Their newly launched CRED Mint is an investment platform where existing members can invest their idle money and earn up to 9%. Members can invest knowing their money will go to creditworthy people.

Existing customers can become brand advocates through online referral marketing. This digital marketing strategy for fintech must be put together carefully, as you must weigh immediate rewards versus credit bonuses.

Affiliate programmes can expand your customer base. Paying them only if they make a sale is a win-win. To get relevant traffic, you want your links on reputable, authoritative sites.

The above fintech marketing strategies can help you attract funding, reach new customers, and challenge legacy players. We at Egniol (The best Startup consultant in India) want to assist you in setting up new milestones, by prioritising your needs and making your dreams come true with the help of our team of experts.

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