There has never been a better moment for Fintech companies to make themselves known. Not least on social media channels, where we can clearly see an unprecedented rise in average screen time. It presents a unique time to tell your story, engage prospects and the wider marketplace through pragmatic thought leadership and creativity.
Awareness of the fintech industry is still surfacing among many, with a report from Statista showing that only 16% of the US population have heard of the industry and have a clear idea of what it is. Quite crazy when the mobile payment market surpassed $1 trillion in 2019.
There is much wider adoption in our daily lives of fintech. It’s all around us, yet we aren’t educated on this piece. 46% of us use digital channels for personal banking exclusively. Singularity University also reports that due to the availability of new proprietary technologies for online platforms, we prefer to use them than visit physical locations.
So how can you make the most of this adoption with little awareness? Here are 5 ways you can positively promote your fintech company through social media:
1. Be visual
You might argue that fintech is anything but boring, tedious and corporate. If this is you, you’re likely thinking there are better ways to show your audience who you are. To stand out on social media, give your brand the audacity to be different. You will yield better results from social media with a visual brand strategy. Don’t get sucked into long form technical jargon, instead tell your story and help your audience picture how your fintech proposition helps them. Due to the lack of awareness in fintech, this education piece needs to be digestible and this will help your audience engage. You’ll attract advocates quicker by being easy to do business with.
2. Be targeted
There is an array of social media channels for you to communicate your brand through. That doesn’t mean they all have the same approach, to the same audience and the same results. You will need to pick and choose wisely, based on research of your audience. Each channel will require its own strategy. Once you know your ideal customer, social media presents you with a very good opportunity to be really targeted. Your ideal customers in fintech will appreciate personalised content. If you adopt this you will improve engagement and stay ahead of your competition.
3. Be disruptive
That’s what you’re good at. After all, financial services was a tough market to break into before you began innovating to create technological breakthroughs for part of the financial services chain. You’re part of a digital era, where sharing economies and digital customer experiences are at the heart of disruption. By thinking the same crazy way about your social media content in the same way you thought about your proposition, you’ll be able to stand out and amplify your messaging past other scaling businesses.
4. Be truly educational
Assume nothing. Speak as if you’re talking to a group of toddlers. Yes, Fintech for dummies. To increase awareness and be able to gauge a wider audience, you need to be able to get your content on their level. Acronyms, jargon and regulatory information should be kept to a minimum unless you can clearly explain it to a toddler. Just because it sounds cool, doesn’t mean you should take it forward to your audience. Understand the goals, challenges and implications of your ideal customer profiles and speak to those areas.
5. Be mobile ready
Once you’ve got an audience, engaged and delighted by the content they’ve seen on your social channels, the natural next step is going to be to visit your website. Ensure that your website is responsive, with the correct landing pages and relevant content. Not only will this help your user journey from social media referrals, you’ll also benefit from search improvements too. Mobile is all about speed, ease of use and getting to the right place, efficiently. You have five hours per day of prospects attention, make sure you grab it wisely and don’t allow them to fall off.
During these unprecedented times, you will no doubt understand how perfect social media becomes for targeting your ideal customers. Ensure your content is valuable – it has to add value to their journey or help solve their challenges. Be sure to keep it visual, not get locked into technical jargon and be educational throughout. Despite 2bn people using fintech of some kind this year, there is a huge amount that either aren’t aware or don’t entirely understand. Go get that market share!