Marketing Strategies for the FinTech Startup
By Wayne Brown, Managing Partner, The Walker Group
Over the years I’ve had the opportunity to work with companies to build and promote their brand via print and social media. Developing a marketing plan to launch a campaign and tracking the results is a key strategy to help a company promote their brand. An initial step is to identify the result of what your marketing plan is designed to accomplish, then work backwards to ensure the components of your plan meets your objective to bring the desired the results.
Content reigns supreme. Building a web page, social media platform or hosting an event is hard work but can be worth the effort. For example, many startups have web site, but that is not enough for a good marketing strategy. I have advised clients to keep their web site fresh and interactive. For example, how many times have you seen a web site with a “news section” with no current updates? Why not? Keeping the content fresh announces that the company is open and available to conduct business. Sometimes the creative is managed in-house so updating the content can be tracked by maintaining a schedule, perhaps, weekly or monthly. Many FinTech startups cannot retain a marketing agency so they manage their own strategy.
In some situations, creating a micro-site will generate additional content. Some micro-sites or hubs can be a spin-off from your company site, allowing people to connect their thoughts or ideas with a group. This is the purpose of the micro-site, a place to hang-out and share ideas with others in the virtual world with the goal of becoming a thought leader. But people will return if there are new issues or ideas to express. Make sure to moderate the micro-site to ensure it remains aligned with your strategy.
Perhaps you have attended an industry event; this could be an excellent opportunity to add this material to your blog. Posting weekly and encouraging others to post to your blog can keep the content fresh. Not maintaining a current blog site will speak to your audience but not deliver the message you want. Your prospects are looking for information and, if not current, it tells them you are not serious about your business or them. One simple trick is make simple updates frequently.
It sounds easy but keeping content fresh is hard work. It has to be consistent because if you start and stop abruptly; your fans will move on to someone else. Posting on YouTube and LinkedIn cannot be minimized. Maintaining a LinkedIn page is free and is your interactive “calling card”.
It should be a standalone providing all the information necessary so someone will know who you are and what you do. In my opinion, if someone does not have a LinkedIn profile my key question is, why not? Could they be hiding something? The page does not have to be updated daily but fresh contact can be added on a periodic basis. This can be accomplished by posting a blog, adding a picture or sending information to your network.
One other aspect to drive content is to develop a white paper or promote a webinar. I have done both for clients and still am amazed with the results. I continue to learn that content reigns supreme and drives additional opportunities to build and sell your brand. Helping people to build a relationship with your brand is accomplished through making content available. If two companies have a competing product and one promotes the brand though various channels, such as a web site, blog, micro-site or hosting events and the other company uses just one channel generating additional sales, in my estimation, is the one that uses content to build their brand.
There are many founders who fail at implementing and managing a marketing strategy. It is just not a priority for them. Developing a strong product and building a solid experienced team is important but if no one knows your brand, failure is imminent.
I will not minimize the hard work involved but the effort is worth it. Marketing is like building a house brick by brick. Success does not happen overnight but with effort it could take some time. The reward is a viable business that adds real value to the consumers and the community. Now that is worth it!
The Walker Group is the bridge between FinTech and financial institutions, working with FinTech companies and banks to find and create mutually profitable opportunities. Our varied market segments enable us to identify synergies and opportunities to stimulate growth as we partner with our clients to build their business. For more information about the Marketing Strategies for the FinTech Startup Workshop contact Wayne Brown at wbrown@walkergroupnyc.com or visit https://waynebrown.nyc/.
