There were more than 10,000 active fintech startups in the Americas alone as of February 2021.
As a content marketing manager, you’re tasked with helping your organization make waves in this sea of competitors.
Yet specializing in fintech marketing comes with its own challenges.
The Demands of Fintech Marketing Are Diverse
That’s because different businesses focus on different fintech customers:
- Your customers could want simple ways to accept and reconcile payments.
- They could be businesses that want a way to manage employee spend.
- Or they could even be selling technology to other fintechs and banks.
All of these customer groups demand extensive research and different marketing approaches.
That means you need to familiarize yourself with practices such as pay-per-click (PPC) advertising, social, search engine optimization (SEO), and community-building — all of which have some overlap with content marketing. Even then, the work of a fintech marketing manager goes beyond mastering these overlapping marketing approaches.
That’s why Genuine asked fintech content marketing managers at companies like Brite, Itemize and Finch what they wished they knew about the role earlier on.
1. You’ll Need to Manage Stakeholders’ Marketing Expectations
Fintech is a dynamic industry. Startups and scaleups can secure new funding rounds that propel dizzying growth. They can acquire other fintechs. And it’s pretty common for them to leap into entirely new verticals. This often means stakeholders have high expectations for marketing.
“The one thing I wished I knew before I became Head of Marketing Strategy in a fintech company — and two other fintech startups prior — is the difference in expectations about marketing,” said Wan Wei, Head of Marketing Strategy at Multiverse Labs, a machine-learning platform for building and deploying artificial intelligence applications.
“The cryptocurrency space moves extremely fast. Since time and resources are limited, it is a constant battle and trade-off between activities associated with short-term execution and long-term planning. Clear communication and managing stakeholders’ expectations are crucial.”
Takeaway: Fintech is a fast-paced industry and learning how to prioritize marketing tasks is important. Keep tabs on the progress your content is making instead, manage expectations, and pursue the long-term marketing strategy.
2. Personalize Content to Customer Segments
Personalization is just one way to pursue those long-term results. This is what Content Marketing Lead Kenny Soto has discovered at Finch, a checking and investing account.
“I went into my Content Marketing Lead role thinking I would experience the typical marketing challenges,” Soto said. “What I didn’t know coming into the fintech industry is that both the audiences and messaging strategies we need to leverage change based on both age, income bracket, and educational goal.”
“Some of our customers only care about budgeting and spending advice. Others want more content regarding investing. This difference in educational goals demonstrates the unique challenge of content personalization — something the Finch team is tackling now,” he said.
He recommends other fintech content marketers personalize customers’ content journeys to their audience’s financial literacy and goals too. “This will not only inform your content strategy but also the martech stack you’re going to purchase,” he said.
Takeaway: Find out what your audiences want from fintech. Do they want to learn how to improve accounting processes, save on B2B payments, or run an ecommerce business? Once you know these answers, create relevant content around them.
3. You’ll Spend Time Addressing Customers’ Fear of Change
But knowing your customers and understanding their interests is not enough, as many fintech marketing managers understand. When it comes to B2B tech, and especially B2B fintech, you’re up against people’s fear of doing things differently.
“Most customers are set in their ways and may be hesitant to change their behaviors, even when presented with compelling value propositions,” said Khushboo Koutu, Marketing Director at Itemize, a financial data extraction and reconciliation platform.
She recommends using thought leadership-driven content to serve audiences like this.
“When done well, content marketing can help prospects understand the core benefits of a new system or technology,” she said.
Some 84 percent of FTSE 350 executives say strong thought leadership content adds value to their role. Thought leadership pieces are also used by executives to:
- keep abreast of industry issues (79 percent)
- inform business decisions (76 percent)
- and take a long-term view of the future (76 percent)/
Thought leadership pieces aren’t the only way to help inform change-averse readers. “Whether through blogs, videos, whitepapers, case studies, podcasts, or infographics, content can make a compelling case to change behavior,” said Koutu.
Takeaway: Fintech content marketing is a long game. Use thought leadership pieces, videos, blogs, and more to help fearful audiences understand the benefits of change.
4. You’ll Need Your Marketing Efforts to Follow Regulations
Many first-time fintech marketers are also surprised by the host of regulations and rules that fintechs need to comply with. For example, the US Consumer Financial Protection Bureau oversees financial products and services. Fintechs must comply with the lending and anti-discrimination laws they pass.
Stefania Casciari is the Head of B2B Marketing at payments company Brite and she understands that rules and regulations aren’t just for a company’s compliance officers. They matter for your content too.
“As someone who recently moved from SaaS to fintech I think the biggest challenge is to learn and digest regulations and compliance. It’s not often you find companies ready to train marketers on the topic,” Casciari said.
Fintech marketing managers need to have a clear understanding of what your business can and cannot say in its financial content — and this is especially important, if your business provides services in personal finance, business lending, or stocks and trading. It’s not just important because it’s the law — it’s also the right thing to do.
Are You an Upcoming Fintech Content Leader?
Fintech is growing more than ever.
Demand for fintech content marketing managers is picking up.
That means more and more marketers will be taking on the task of ensuring companies always produce stellar content. Check out some more of Genuine’s recent articles about fintech content and get in touch if we can help you to improve your fintech’s content marketing.