6 Online Marketing Challenges Fintech Companies Face

in steempress •  2 months ago  (edited)


Source: Pixabay

Earlier this month, Forbes highlighted 10 big challenges fintech companies face. Having worked in this space now for about five years, I can vouch for some of them. In particular, I've noticed that fintech firms are seeing increased competition from big tech companies like Amazon, Facebook, and Apple. However, when it comes to online marketing, there are six challenges that are synthesized into two on Forbes's list. The rest of this article will discuss the importance of a content marketing strategy and offer some tips for overcoming those six challenges.

1. Have a great pitch deck


A pitch deck is a useful tool for acquiring investors and getting interest from other key stakeholders, especially if a company plans to go public. A pitch deck is nothing more than a summary of your business model, what differentiates you from similar companies, and where you plan to go from where you are now. Great pitch decks pack a lot of information in just a few slides. Visually, you give an overview of your company, its mission and vision, who your key team players are, the problem you're trying to solve, the solution you offer, the size of your market, some specifics on your product or service, your customers, your technology, and your competition. Along with these, you want to include your marketing plan and financials. In essence, you compress your business plan in 15-20 slides that you can use during presentations and hand out to those interested enough to ask. Here's a sample slide from a pitch deck Taylored Content put together for a cryptocurrency hedge fund company a while back:

pitch deck

 

2. Company website


Website design and development has changed a lot since the Internet's inception. No longer are basic HTML sites the order of the day. Today's website must achieve several key benefits for the company that owns them. These include:

  • Present you as an authority in your field
  • Show that you understand your target customer's concerns, and can meet them
  • Let visitors know your unique selling proposition at a glance
  • Attract targeted traffic through search engine optimized content
  • Speak the language of your target audience
  • Generate leads for your company and close sales
  • A blog will keep your content fresh, up to date, and keep search engine spiders returning to crawl your site often while offering you more opportunities to achieve significant search engine rankings
  • If your fintech website has a login for customers and collects personal data, it must be highly secure
While Taylored Content has been designing WordPress websites for years, we've recently partnered with a web development firm to offer more robust website design and development for fintech companies.

3. Content Marketing

There's no doubt that content marketing is one of the most effective ways to reach your target audience. It's three times more effective than outbound marketing, and 72 percent of the companies that do it say it increases their lead generation. In fact, content marketing is on its way to becoming a $400 billion industry. It is very difficult to succeed online, or in business for that matter, without a content marketing strategy. Taylored Content's chief content officer, Allen Taylor (that's me), has been providing content marketing services since 2006. Since 2013, we've been advancing content marketing principles as Taylored Content and almost exclusively for the fintech marketing since 2015.

Content marketing is a big field. It's not just throwing together some content and hoping it sticks. The most successful companies have a strategy. The content mix you deploy for your fintech company should be determined by your target market, your budget, your online marketing goals, and other factors that your content strategist can help you identify.

Looking for a fintech content strategy? We can help you develop one.

4. Social Media Marketing

content curation social media
Source: Pixabay

Social media marketing is a subcategory of content marketing. It's difficult in 2019 to implement a successful content marketing strategy without including a social media component. Where you hang your social media hat, however, depends a lot on who your target audience is and where they hang out.

If your fintech firm caters to a business audience, you'll find LinkedIn to be a great place for your social media efforts. LinkedIn has a Pulse blog where you can publish your articles and thought leader pieces, it has groups where you can share your best content in a targeted way, and LinkedIn provides company pages that help put you on the map. Business-to-consumer companies have other options, like Facebook, Instagram, and Twitter (which is also good for B2B fintechs). The key is to find your audience and present your content for their benefit. If they like your content, they'll go looking for you.

5. Press Releases


Where websites and content strategies are designed to meet target audiences, press releases are designed to reach journalists and other media professionals. A well-written and optimized press release can go a long way to getting your fintech company the earned media it needs to develop early traction in the growing and competitive field of fintech.

6. Influencer Marketing


Influencer marketing is a subset of social media marketing, which also makes it a subset of content marketing. The idea is to market your fintech message to influencers, or to obtain endorsements and other mentions from key players in the fintech world. For instance, you might position your new take on marketplace lending to Peter Renton, founder of Lend Academy and LendIt Fintech, or you might position yourself to be noticed by digital banking pioneer Brett King.

You can find fintech influencers on any social media site where they have a strong following. That could include Twitter, Facebook, LinkedIn, Instagram, YouTube, Pinterest, or anywhere fintech professionals have high follower counts and lots of audience engagement. Content research solution provider BuzzSumo lists the top 100 fintech influencers for 2019.

Once you find an influencer, how do you persuade them to give you an endorsement or to mention you? First, you must have something worth mentioning. That might be a book or a white paper, maybe it's a viral video, an outstanding blog post, or perhaps your fintech solution is something so innovative and different that it should be talked about. After producing your authority content piece, I recommend sending a free copy of it to the influencer whose attention you want to obtain. Ask them if they'd like to review it or recommend how to improve it. After a reasonable time, follow up with them to see if there is anything you can do to make your offer better.

influencer marketing
Source: Pixabay

You should go out of your way to be respectful to the influencer. No one wants to help a boor.

Conclusion


Online marketing has come a long way since the early days of the Internet when all you needed was a website and the ability to write a few articles. Today's online marketing strategies are more sophisticated, complex, and driven by data, a strong message, a narrowly targeted audience, and a hard-to-beat offering that sets you apart from your competition. It's not enough to be innovative with your technology. You've got to demonstrate that you understand your audience's biggest challenges and that you know how to address them. That can best be done with a strong content marketing strategy.

Contact Taylored Content today to get your content strategy rolling.



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Some useful tips!

Posted using Partiko Android

Thanks, my man. Glad you found them helpful.

I wish I was more business savvy. To my own detriment, I've never explored the intricacies of running one. I was a co-partner years ago with a person in newspaper advertising. We started a paper with articles and ads. Started out well, ended in a mess. If I'd known what I was doing I probably could have saved it and ran it myself.

Partner situations can be sticky. I had one for about eight years. It didn't end in disaster. We're still friends. But it taught me not to rely on anyone else for my livelihood. It worked for a good eight years until we decided to part ways. There are courses you can take that teach you business principles, but I think it also helps to have the right temperament. It isn't for everyone.

Geez that is a lot of money in content marketing.

I’ve been having some fun playing around on Twitter. I’ve noticed once in a while I’ll get an indie game developer following me. Which is cool. It gets me to check out what they are working on and I get to see some interesting things a lot of the easy to miss guys are doing..

Yeah, it's always cool to see what innovative companies are up to. Working on their content marketing campaigns allows me to get a little more information about them than the average person, but I still don't gain access to trade secrets. ;-)

There's a lot to be said for a good looking website these days. The amount of tweaks I've need to make to mine over the years has been innumerable but starting to see the benefits in the statistics of views.

I switched over to twitter vs fb which has given me a lot more interaction but with music, it's all about streaming. Not many around still buy music so I think the next step is to try and really narrow down targeting. It's quite a niche audience for dnb so the fans are a little more die hard, need to develop a plan for that.

Great article as usual. Thanks for sharing your insights!

Posted using Partiko Android

I've learned that the creative professions have to get creative with marketing as much as they do their creative pursuits.

Ah yes a subject close to my sweet spot. Very useful for perspective as I have just launched a digital marketing company @town-Crier.

We focus on small town business but neat to see things on the large fintech scale. @sequentialvibe would like this.

Awesome!

These tactics can work just as well for a small town business as for anything else. You might modify them to meet your needs, but the basic tactics are golden.

That's good advice for about any business these days, particularly new ones. Gotta be able to get your name and story out to the public!

That's right! Every business can benefit from these tactics and overcome their marketing challenges. But I like playing around in the fintech field. :-)

Bookmarked of course, as even us as a charity can use this and I will take my time reading this my friend.
Blessings and thank you!

Yes, charities can use these tactics just as well.

Oh, I saw that and have not yet had the time to sit down with the post.
But you know that I will.
Blessings and thank you once again!

I have favorited this article to come back to as a reference for my future planning. I like your insight that you put here based on your experience in the field. #powerhousecreatives

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Awesome @boycharlieplays. Glad you liked it. I hope it helps you. :-)

Still learning the tricks in slow pace, not as easy as the old days for sure!

Any pace is a movement forward. Keep trucking! :-)

Nice reminder - for any country!

Posted using Partiko iOS

Thank you!

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