The global Fintech industry has been growing exponentially year on year. Even in 2019, the market share across the top 48 Fintech companies was valued at 187 billion USD. Additionally, it has been forecasted that this will only rise with the industry having a Compound Annual Growth Rate (CAGR) of 25-30% between 2019 to 2025.
In other words, the industry is red hot. With this continued rise in popularity, many new companies are entering the market — further increasing the competition. As a result, Fintech companies need to leverage every competitive edge possible to defend their market position and grow their businesses.
One way to do this is to ensure a strong demand generation strategy is in place, providing a solid marketing foundation. By refining this strategy, companies can ensure a steady flow of MQLS, that convert to SQLs, ultimately increasing revenue. However, in a landscape of shifting buyer expectations and motivations, what can Fintech companies do to improve their demand generation strategy, drive more business into their organization, and defend their market position?
Content Creation and Optimization
Content is king in Fintech. In fact, 96% of the largest Fintech companies create consistent thought leadership content, allowing them to educate their audiences, provide their customers with options to self-serve, and create compelling value propositions in content syndication.
An effective content strategy is an organization’s opportunity to:
- Communicate their company voice, values, motivations, and unique selling points (USPs).
- Build brand awareness, expertise, and authority.
- Promote products and services.
- Build audience trust and customer loyalty.
- Drive lead generation, boosting sales to drive revenue.
At a baseline level, a well-considered, SEO-optimized calendar of content across multiple touchpoints will bring tangible benefits, such as increased traffic to a company’s website. However, it is critical to consider the intangible advantages of a strong content marketing presence for your company.
In the finance sector, many brands face challenges around trust and education, and these challenges are particularly prominent for Fintech companies. Open banking challenges the established, traditional financial models, and buyers need reassurance that Fintech solutions are trustworthy and viable. Fintech companies need to reflect this in their messaging at every touchpoint – building a sense of credibility and trust associated with their brand.
For Fintech marketing activity, it is essential to have high-quality, actionable insights on your audience. As third-party data continues to become less accessible, companies need to adopt viable strategies to generate and own their data.
For this reason, a robust first-party data strategy is essential for relevant and accurate information. First-party data creates a transparent value exchange between the brand and the user. For example, users will give their information in exchange for content in a form fill or a newsletter subscription in exchange for something of value to them.
However, it is vital to create frictionless experiences for your audience and prospects as expectations for seamless interactions increase. Companies can obtain first-party data on their audience in unobtrusive ways for effective retargeting, such as historical data in a CRM, social media profiles, and activity and engagement metrics from your website and other touchpoints.
Using Data for Lead Generation
It’s crucial to put a refined data strategy to use effectively. Personalization is everything, and the most effective campaigns will have personalization at their heart.
Delivering impactful experiences to prospects relies on a deep understanding of their values, motivations, and behaviors. Companies can do this by developing multiple buyer personas based on the company’s ideal customer profiles (ICPs).
To facilitate this, companies should look to the insights provided by their data and be able to answer:
- Who is engaging with the company’s outreach? What is their position? What organization do they belong to?
- What have they looked at? How much time are they spending on it? Are they clicking through to other pages?
- When are they engaging? What is the best time to reach out?
- Where did they find it? Which touchpoint were they referred from?
- Why have they engaged? What buyer intent do their search terms suggest?
Obtaining these insights and analyzing campaign performance can be tricky – it requires the right analytics tools to gather them effectively.
Utilizing Website Visitor Identification
Website visitor identification software, such as Web Insights, provides quality, actionable insights on your prospects’ activity and intent. With this information, users can successfully uplift all areas of their marketing and data strategies.
With Web Insights, users gain visibility on the companies visiting their website, where they have come from, the pages they have viewed, and the time spent on each. This allows users to drastically reduce the time spent identifying, managing, and converting leads – optimizing their demand generation processes.
Website visitor analytics are fantastic tools to leverage in supporting your first-party data strategy. With the automated generation of data from your visitors, you can obtain first-party data without relying on gated experiences. This is valuable as it creates a frictionless experience across your website, allowing visitors to engage with your content on their own terms.
Fintech is growing, the competition is becoming fierce, and companies need to use every competitive edge to stay ahead. Therefore, a strong content strategy is essential for Fintech companies seeking to build brand awareness, buyer trust and drive more sales opportunities into their companies.
First-party data has high targeting reach and data quality. With the marketing landscape shifting to protect user privacy, Fintech companies must focus on generating and using their own data for marketing campaigns. To create actionable data and obtain analytics to assess the performance of campaigns, Fintech enterprises should leverage website visitor identification to uplift all areas of their marketing activity.