Roundtable Recap: The Best Marketing Strategies for FinTech Startups

Last Friday, Copy House and FinTech Scotland hosted our Startup to Scaleup Roundtable Webinar with four industry experts discussing how FinTech startups can market their businesses to make growth happen.

In case you missed it, we’ve put together a recap of the key insights from the event. Continue reading to learn more about creating successful marketing strategies for FinTech startups.

The Main Marketing Challenges & Opportunities For FinTech Companies

“COVID is opening the door to digital transformation.” – Kathryn Strachan, Copy House.

We started the Roundtable by discussing what challenges the COVID pandemic has presented to FinTech companies.

The panel agreed that while the pandemic has brought some obstacles, the migration from physical to digital procedures also presented  a wealth of opportunities for FinTech brands. People and businesses operate more digitally than ever, making them more accessible and receptive to new digital solutions.

Since COVID, there’s also been more demand for FinTech solutions as people look for alternatives, for instance to face-to-face financing.

The panel is generally feeling optimistic about the future of FinTech despite the pandemic.

 

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How Can FinTech Startups Use Marketing to Scale Up?

Next, our panellists discussed what marketing strategies are best for FinTech startups. Kathryn argued that Search Engine Optimisation (SEO) is the ultimate marketing tool that brands can use to leverage generic search terms to guide visitors to their site.

SEO and content marketing go hand-in-hand, providing a great low-cost alternative, especially for B2B FinTechs. High-quality, SEO-optimised content brings in steady organic traffic to your site long after you hit “publish”. When done well, content marketing revenue will snowball over time and increase site traffic with minimum effort from you.

The strength of content marketing is providing the value which brings people to you organically, unlike paid ads where you essentially pay Google to get traffic to your site.

“The best campaigns are the ones that drive organic followership and start natural conversations” – James Taylor, Roaring Mouse PR.

Create a Benefit-Focused Marketing Plan

Drawing on her marketing expertise and experience, Kathryn stressed that FinTechs need to change their marketing focus from their solution’s features to the benefits it offers to customers.

Get away from yourself and move into the minds of your customers. Ask yourself:

  • What do they care about?
  • What do they need to know?
  • What do they worry about?
  • How can you “relieve their headache”?

Our experts agreed that marketing should revolve around your target audience’s needs and your brand purpose. FinTechs should use marketing to bring their mission to life and show their ideal customers why they need that innovation now and not later.

In the final few minutes of our Roundtable, our experts discussed what FinTech brands could do to set themselves apart from the competition through marketing.

In our digital age, people suffer from content overload because of the amount of information they encounter every day. Our panel also advised FinTech startups to spend as much as they can realistically afford on marketing and PR, whatever their budget size.

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Key Takeaways

  • Covid brought more opportunities than challenges for FinTech brands by opening the door to digitalisation.
  • The best way for FinTech startups to cut through the noise and reach their target customers is to combine SEO, long-form thought-leadership content, PR and social media engagement.
  • Now is the time for FinTech to invest in marketing and scale up, and having an exact Brand & Content Strategy will help FinTech brands to grow to the next level.

Special thanks to DirectID’s CEO & Founder, James Varga, FinTech Scotland’s Marketing Director, Mickael Paris, Roaring Mouse PR Consultant, James Taylor, and our very own Managing Director, Kathryn Strachan.

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Our marketing experts will take a look at your marketing strategy to identify your strengths and give you tailored advice on how to improve for maximum ROI.

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