What is Fintech Marketing?

Understanding Fintech Subsectors

It’s first important to acknowledge that fintech is itself a very diverse industry.

As a term it encompasses a wide range of product and services, including:

1. Paytechs: Focused on payment solutions, from mobile wallets to international money transfers.
2. Wealthtechs: Tools for investment management and financial planning, targeting retail investors or financial advisors.
3. Personal Finance Apps (PFAs): Platforms helping individuals manage budgets, track expenses, and achieve financial goals. 
4. Insurtechs: Technology-driven insurance services emphasising simplicity and transparency.
5. Regtechs: Solutions designed to help businesses comply with regulations. Marketing efforts here are B2B-focused, emphasising efficiency and risk reduction.
6. Embedded Finance Offerings: Integrating financial services into non-financial platforms, like offering credit at checkout. 

This is important when thinking about marketing solutions, as what works for one fintech might not necessarily work for another very different offering.

While a Wealthtech might focus on content marketing and developing educational materials, a B2C campaign for a PFA might centre on user experience and empowerment.

So What Works in Fintech Marketing?

Any successful marketing relies on understanding the unique needs of the audience and tailoring strategies accordingly.

Here are some approaches that typically excel in the fintech space:

1. Events: Fintechs often leverage industry conferences and events to network and showcase their offerings. These events are invaluable for building brand authority and partnerships, especially in B2B contexts.
2. Digital Marketing: Digital channels, including SEO, social media, and PPC, are key for reaching tech-savvy audiences. These tactics drive both awareness and lead generation.
3. Content Marketing: Thought leadership articles, whitepapers, and case studies build credibility and trust. Educational content also helps explain complex financial products to both B2B and B2C audiences.
4. Video Marketing: Fintechs increasingly use video to simplify complex concepts, from explainer videos to customer testimonials. Video helps humanise the brand and boost engagement across social channels.
5. Influencer Partnerships: Collaborations with industry experts or financial influencers can amplify reach and credibility, especially in personal finance and wealth tech sectors.
6. Account-Based Marketing (ABM): In B2B fintech, ABM campaigns target specific high-value accounts, offering personalised messaging and content.

B2B vs. B2C Fintech Marketing

Along with subsector differentiation, it's crucial to acknowledge the difference between marketing consumer vs business products.

B2Bs tend to incorporate long sales cycles and multiple stakeholders, and there’s often significant compliance regulations to consider.

Channels tend to involve LinkedIn, email campaigns, whitepapers, and industry events.

In the B2C world, the priority initially is user acquisition, then engagement, and retention, and strategies are built accordingly.

Influencer marketing and digital strategies might be more common here.

The Role of Video in Fintech Marketing

Video is increasingly an essential tool across all subsectors and both consumer and business facing fintechs.

It’s an effective way to demystify complex products, explain key benefits, and foster trust. Examples include:

• Explainer Videos: Simplifying intricate features or processes.
• Customer Testimonials: Building credibility through user stories.
• Product Demos: Showcasing ease of use and functionality.
• Short-Form Content: Engaging audiences on platforms like LinkedIn or TikTok.

Its unique analytics capabilities allow fintech marketers to gain insights around lead attribution, as well as to increase conversion rates.

Challenges in Fintech Marketing

We’ve seen how there are tools and techniques that work best in a fintech marketing context.

In the same way, there are also challenges specific to fintech marketing to be wary of.

Proving Marketing Value

This is one we hear about a lot from our clients. Convincing internal stakeholders of marketing’s ROI can be difficult, especially in B2B, where results are often delayed by long sales cycles.

Winning the trust and buy-in of senior figures is crucial, and has to be worked towards from day 1. 

Fintechs founded with marketing talent at their centres are frequently the most successful.

Regulation and Compliance

Navigating strict financial regulations while maintaining creative flexibility is a constant balancing act.

You want to stand out as a brand, but you also have to make sure you’re reporting product features accurately.

Attribution in B2B Sales

Multi-touchpoint sales cycles make it hard to accurately attribute conversions to specific marketing efforts.

This is a challenge across all B2B marketing, but is felt even more keenly in fintech owing to the need to prove ROI and marketing value.

Content Overload

The fintech industry is more saturated with content than ever before, making it harder to stand out.

Fintech marketers must focus on creating high-value, audience-specific content to cut through the noise.

Wrap up

Fintech marketing is a dynamic and challenging field that requires a mix of creativity, strategy, and technical expertise. 

Whether targeting businesses or consumers, fintechs must navigate unique challenges like regulatory compliance and proving ROI while leveraging digital, content, and video marketing to engage their audiences. 

By understanding the nuances of each subsector and audience, fintech companies can build trust, drive growth, and stay ahead in this competitive space.