11 Must-Try Fintech Marketing Strategies in 2024

Looking for some fintech marketing strategies for inspiration? We’ve curated a list of effective techniques along with some real-life examples.

fintech marketing

11 Must-Try Fintech Marketing Strategies in 2024

As of 2024, there are almost 30,000 fintech companies worldwide, according to Statista.

What does that mean for your fintech business?
It’s harder than ever to stand out from the competition as your audience has more options to choose from.

That’s why you need a dependable fintech marketing strategy to reach your target audience and win them over quickly and efficiently.

In this article, we’ll share ten tried-and-tested fintech marketing strategies and show how to implement them. We’ll also examine some success stories to inspire you.

Further Reading:

This Article Contains

What Are The Benefits of Fintech Marketing?

The main goals for fintech marketing are attracting potential customers and retaining existing ones for companies that deal with payments, insurance, investments, cryptocurrency, and banking. 

Here are three reasons why you should have a fintech marketing plan:

  • Reaching new audiences: With a targeted marketing strategy, you can personalize your messaging to attract niche audiences who may not have been accessible through traditional channels.
  • Increasing customer engagement: Many digital marketing strategies involve emotionally connecting with customers, which can transform them into brand advocates.
  • Reducing operational costs: A fintech marketing plan can minimize inefficient spending through precise targeting and fixed budgets.

Top 11 Fintech Marketing Strategies

Now, let’s take a closer look at the strategies that can give your fintech firm a competitive edge.

1. Educate The Audience Through Content

While it’s true that people are becoming more financially literate (especially 56% of millennials and Gen Z,) only 43% know about complex financial topics, such as saving for retirement.

That’s why great financial technology companies make it their mission to educate their audience through valuable content about a range of financial topics.

But why does education matter in fintech?

It’s simple: the more people know, the more they buy.

Your users can understand the financial landscape and the role that your fintech product or service plays, which can help them realize how valuable or important your product/service really is.

That’s not all. When you teach your customers, they see your brand as a valuable partner and not just a means to fix their problems. Your brand also stands out as an authority figure, increasing user trust.

Here’s how you can implement this marketing strategy:

  • Write handy guides and blog posts that cover foundational topics relevant to your financial services or product.
  • Create infographics that visualize certain processes, such as improving a credit score, investing in equity, etc.
  • Produce bite-sized videos that simplify complex topics targeted to a wider audience.

You can read more about fintech content marketing here.

Chime, a banking fintech app, treats its blog as a classroom. 

Instead of promotional content, they have helpful articles about banking basics, managing debt, credit, etc.

They also throw in helpful calculators for managing budgets, savings, and loan payments. Even if website visitors aren’t keen on using Chime’s financial services, the company will be top-of-mind for many consumers, which can increase brand recall.

2. Build a Community

If you’re looking to transform your consumers into diehard fans, community should be your go-to tactic.

Let us explain. Community marketing is the process of creating close relationships with your target audience (through your website or social media) and including their input in your business decisions. This means engaging and interacting with your audience regularly over a period of months or even years.

But is it worth it?

Absolutely! Your customers would feel connected to your brand, and you would be addressing their needs completely. In fact, 86% of brand managers have reported that they’ve received richer insights into their customers’ needs through a community. 

You’ll also be able to reduce the Customer Acquisition Cost because your customers will do the marketing for you by advocating your brand to their friends and family.

Here are some steps you can take to build a community around your fintech company:

  • Share your product development process with your community and ask them for feedback.
  • Host regular Q&A sessions with your users to share updates about the fintech product.
  • Hold community meet-ups where users can meet like-minded people and network.

Wise has an interactive product roadmap where users can upvote the features that they’re working on. Users can even suggest and vote for feature ideas they’d like to see on the platform.

Revolut’s community page has sections where users can find solutions to their product-related problems, discuss tips & tricks, share feature ideas, and view the latest updates.

3. Utilize Social Media

2 hours and 30 minutes. That’s the average amount of time people spent on social media in 2023.

Social media marketing is essential for every fintech brand as there are 5 billion users online. Yet 40% of small businesses don’t harness its power. 

What’s great about social media marketing is that it can be used to create posts and campaigns for customers in all stages of the marketing journey, from brand awareness to demand generation to loyalty.

Here’s a step-by-step approach to social media marketing:

  • Identify a goal: Whether it’s to increase awareness, get new customers, or build a brand, specify a few goals that align with your business objectives.
  • Pick the right platform: Each social media platform has different audiences. If you’re looking to target Gen X and above, Facebook would be a good starting point, while Instagram would be suitable for millennials and Gen Z.
  • Create content buckets: List 5-6 types of brand posts you’d like to put out. It can range from educational content, testimonials, product features, memes, etc. 
  • Post regularly: Social media is a numbers game. The more posts you publish, the greater the chance for the algorithm to push your post out to a wider audience.

Revolut’s Instagram account has a rainbow of posts, including product posts, memes, testimonials, product updates, and financial tips for its diverse audience. 

But what makes it impressive is that they use the same fonts, colors, and design to create a distinguishable look.

4. Partner Up With Influencers

Millennials and Gen Z are the easiest targets for your fintech’s digital marketing strategies, as 54% and 62% of them are constantly online.

So if you have a fintech product or offer financial services, you’ll have to use marketing channels that this audience prefers. It turns out that 61% of millennials and Gen Z trust influencers.

What is influencer marketing?
It’s a strategy where you team up with experts and influential people in your industry. These influencers should talk about your brand on social media and co-create promotional content that can reach hundreds of thousands of followers. 

Which can feel like this:

Not only does your brand awareness skyrocket, but the influencer’s audience also considers your product or service credible and worthy of their attention. 

Here are a few influencer marketing ideas:

  • Form long-term partnerships with influencers who consistently promote your brand over time.
  • Provide influencers discount codes to share with their followers.
  • Initiate an affiliate marketing campaign by asking influencers to share affiliate links.
  • Ask influencers to review your platform on their social media pages. 

Visa uses partnership marketing to improve its brand image. 

With their Get P@id campaign, Visa teamed up with established content creators and budding influencers. In the social media video series, the creators coach new influencers to create more opportunities for getting paid.

Visa’s reach skyrockets here because its valuable content would be shared with two audiences: those of the content creators and the influencers. 

Plus, by encouraging and inspiring new influencers, Visa can emotionally connect with a niche audience.

5. Create Memorable Videos

We come to the most powerful strategy out there: video marketing.

There’s no wonder that this strategy works well, as people watch an average of 17 hours of video a week!

90% of marketers have reported that video marketing gives them a good ROI. What’s more, 82% of people have been convinced to purchase a service or product after watching a video.

Whether you’re producing videos in-house or hiring an external video marketing team, you’ll have to create videos for all types of people, from potential users to returning customers.

We’ve categorized types of videos as per the marketing funnel:

  • Brand Awareness: These videos announce your brand’s presence and avoid sales talk. They include educational videos, whiteboard explainer videos, etc.
  • Consideration: These videos act as a source of trusted information and include how-to videos, case studies, and product demos.
  • Conversion: These videos focus on making an emotional connection with the user. They include testimonial videos.
  • Loyalty: These videos help customers understand and use the product better. They include tutorials and customer support videos.

Cash App, a payments fintech solution, has a fairly active YouTube channel where they post videos like product updates, customer case studies, how-to guides, and financial security tips.

6. Explore Unique Formats

While creating blogs, videos, and social media content is a good B2C and B2B marketing strategy, it shouldn’t be enough.

Many competing brands would be taking a page from your playbook and creating similar marketing content. With customers bombarded with almost 5,000 brand messages a day, this saturation can deter customers from viewing your advertisements altogether. 

That’s why it’s important to focus on alternative formats that go beyond traditional marketing and turn some heads.

Here are some of them to get your ideas flowing:

  • Immersive product demonstrations using AR (Augmented Reality) and VR (Virtual Reality)
  • Webinars with fintech industry experts to discuss trends.
  • Podcasts that share financial advice and keep track of the latest economic news.
  • Hosting live events to demonstrate your fintech product in use.

Pensionbee, a retirement savings platform, hosts the monthly ‘The Pension Confident Podcast,’ where experts share tips on financial planning, pensions, and investments.

Zettle is a fintech company that allows businesses to accept credit card payments. Instead of marketing its product, it chose to demonstrate it in action with an experiential marketing campaign. 

In 2012, the brand partnered with small businesses to host a pop-up market and utilized its device to accept card payments. This caught some buzz, skyrocketing Zettle in popularity among small businesses overnight.

7. Introduce Gamification

So, what do you do after you get new users for your product or financial service?
You’ll have to keep them engaged, of course. 

Just like scoring points after completing a level in a video game, this strategy involves rewarding users when they finish certain tasks on your platform.

This strategy is most effective with millennials and Gen Z, as they favor a more engaging and enjoyable approach to handling tedious financial tasks such as making investments and paying insurance premiums. 

Giving virtual rewards (badges, scratch cards, etc.) is rewarding for brands, too! With gamification, brands have seen 47% higher engagement and a 22% increase in loyalty.

Here’s how you can add game design elements to enhance your user experience:

  • For a personal finance app, show progress towards financial goals with visual progress bars to motivate users to reach their targets.
  • Give virtual badges for completing actions such as referrals and completing transactions.
  • Reward users for maintaining streaks, such as logging in daily or saving money consistently.

Google Pay, a mobile payments fintech, rewarded users with digital stamps after they made a transaction with the app. 

Source: LatestLY

If people were able to collect them all, they would be rewarded. While it seems easy, Google Pay made it difficult by making one stamp rare. 

This made the game even more engaging and enhanced user experience, as people scrambled to get the last stamp by making more app transactions rather than using cash to make payments.

8. Incentivize Existing Customers

Incentivizing customers and gamification are two sides of the same coin. 

While gamification mostly involves giving customers virtual rewards, incentivization includes giving money and bonuses.

The goal is to motivate customers to sign up, send referrals, and use more features of the platform. Retaining users is essential for growth, as 40% of revenue for US and European companies comes from repeat users. 

When businesses provide tangible rewards, users feel valued and are more likely to use the fintech platform for a longer period of time. 

Here are a few ideas to incentivize your existing customers:

  • Offer joining bonuses for new customers.
  • Partner up with brands and offer discounts on their products to your customers.
  • Give a small amount of cashback for transactions, bill payments, and investments.
  • Offer rewards to customers sending referrals to their friends and family.

SoFi, a personal finance company, uses referral marketing programs for its existing customers. This works well for users, as they can redeem these rewards to pay back their loans faster.

9. Experiment With Bold Branding Techniques

Brands and websites are looking better than ever, thanks to a growing number of designers and software like Canva and Figma.

But it comes at a cost. 

A lot of fintech brands follow the same design trends and end up looking like copy-cats.

If you review a list of fintech brands, you’ll see patterns such as minimal designs, similar humanist fonts, pastel colors, and plain illustrations.

A strong and unique brand identity is what your business needs to be more memorable. Here’s how you can create one:

  • Start by thinking, “If your brand were a person, what would they be like? How would they dress themselves? How would they speak to their audience?” 
  • Based on your input, you’ll have to make choices for your brand elements, such as color palette, fonts, illustrations, tone of voice, and values. 

The last part is quite important because people perceive their favorite brands as extensions of their persona. So, it’s essential that your brand personality matches that of your customers.

Cleo, an AI-driven personal finance app, has a personality similar to that of a sassy friend. Geared towards Gen Z, it uses conversational language (with the latest slang), bold fonts and illustrations, and tons of humor. 

As a result, their brand makes difficult and heavy financial topics seem light and approachable for their audience, which could garner increased engagement.

10. Work With a Fintech Marketing Agency

While it’s fun to brainstorm and create a fintech marketing plan, we can’t say the same about executing them.

The main challenge is creating an end-to-end marketing campaign that reaches your target audience and resonates with them all within a time frame and budget.

That’s where a fintech marketing agency comes in.

A fintech marketing agency deeply understands the fintech market and the latest marketing technologies. They are armed with copywriters, designers, strategists, etc., and have the right resources to create high-quality and valuable content.

But how do you know which fintech marketing agency is right for your business?

Keep in mind these 5 things when narrowing down your search:

  • Expertise: The agency should have experience working with fintech companies in your niche.
  • Previous Performance: Check their track record by viewing their case studies.
  • Services: The services offered should be broad and align with your marketing goals. For example, if you want more website traffic, the agency must offer SEO or Google ad services, or if you want more leads, you should work with an email marketing agency.
  • Work Culture: Your fintech marketing agency should be an extension of your company and operate similarly.
  • Pricing: Ensure no hidden costs are involved while hiring a preferred agency.

11. Improve Your SEO

Instead of reaching out to your customers, why not let them come to you?

Many potential customers would be looking for solutions that your product or service may offer. By implementing Search Engine Optimization, your website can appear at the top of their search results, attracting thousands of customers to your site.

SEO is one of the most cost-effective B2C and B2B fintech marketing strategies, and 49% of marketers believe that SEO and inbound marketing bring in the highest ROI.

How does it work?

Let’s say you work at an investment fintech startup. First, you need to identify the search terms potential customers would be using, for e.g., ‘stock investment platform.’

After listing the terms, you, as a fintech marketer, can create helpful blog posts that address users’ search intent. In this case, the article could be ‘10 best stock investment platforms.’ 

In this article, you can plug in your business. You could add links to other articles, so visitors stay on your website for longer, increasing the chances of them making a transaction.

But we’ve barely scratched the surface here!

We recommend you check out our comprehensive guide to 7 FinTech SEO Strategies to Skyrocket Growth in 2024.

If that’s not enough and you’re looking for some help to improve your SEO, the fintech digital marketing experts at Startup Voyager have got you covered.

We have experience in taking sites from 0 to 100,000 visitors a month in less than a year!

But that’s not all. You can count on Startup Voyager to build you an SEO strategy that not just attracts visitors but also converts them!

Reach out to us to learn how we can help you multiply your revenue within months with our fintech marketing services.

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