B2B fintech organizations are taking the world by storm. The fintech industry is expected to soar to $2.1 trillion by 2030 and is poised for sustained growth as time goes on. As fintech companies gain momentum, they remain relatively unexplored by much of the market. This leads to one of the primary challenges, customer acquisition. When prospects are not as educated on a product and its capabilities, the interest is low. As fintech products become increasingly prevalent, these organizations will encounter diverse challenges, such as a mounting number of competitors and the need to effectively stand out and leverage marketing efforts to reach their target audience. Effective marketing strategies can provide solutions to the myriad challenges faced by fintech organizations. Explore these recommended B2B FinTech marketing strategies and actionable insights.
What B2B Fintech Buyers Are Looking for Today
Nearly 7 decision-makers are involved when fintech buyers are making a purchase. As the working population ages, millennials are making decisions more than ever before, with 41% of millennials taking part in the purchasing process. These changes are important to keep in mind when thinking about communications.
There are several important factors that prospects consider when purchasing a fintech solution. For example, most prospects find peer reviews and customer relationships to be the most important parts of a purchase decision. 68% of B2B buyers consider product or solution reliability, while 49% use product cost information to influence their decisions. All these components play into how B2B fintech organizations need to tailor marketing.
B2B Fintech Marketing Strategies
For B2B fintech organizations, content marketing can seem intimidating as much of the information about a fintech product includes technical components or complex concepts. When it comes to content, simplicity is the name of the game as the content will be much more effective. When creating content, think about the buyer’s journey.
- Awareness Stage: Prospects in the awareness stage are seeking answers to a problem they are encountering. Content such as a blog, article or infographic is perfect for this stage.
- Consideration Stage: As prospects move into the consideration phase, they are looking for detailed information on their challenge and what it takes to solve it. eBooks, white papers, guides and videos are ideal at this stage.
- Decision Stage: In the final stage, prospects want to know what it is like to use the product and understand the possible results. Case studies, demos and free trials are critical at this stage as it puts them in the shoes of using the product.
A website is often the first touchpoint in the journey of a potential customer. Ensure your website includes these elements:
- Clear Navigation Menu: People should have a clear path from one page on your website to another. The navigation menu should include key areas of your business such as services, products, about the company and contact us.
- Clear Call to Action (CTA): You want a visitor on your site to take the next step. What is the next step? It depends on what you want them to do. If someone is reading a blog, you might want them to download an eBook. The CTA should be “Download the eBook” or “Get the eBook.” If someone is on your contact us page, you want them to convert, so use a CTA such as “Contact Us” or “Get in Touch.” Keeping focused on one CTA keeps the visitor attuned to the next step.
- Clear and Concise Website Copy: Fintech solutions can often be overcomplicated. Crafting copy that is not only clear and concise but also effectively communicates key benefits of the solution can have a significant impact. Ensure visitors understand what your product does without omitting important information about features.
- Clear Branding: Consistent branding on a website is a must. Use the same colors, font and formatting across the entire website. Consistent branding increases revenue by up to 23%.
Emails are a powerful tool for B2B fintech organizations. Use these tips for impactful B2B email marketing:
- Know Your Audience: All contacts are not the same, so segmenting into different lists is crucial. You might have some contacts that are general leads while others are customers. While it is not always necessary to divide these up, it can be easy to organize in case you would like to send certain emails to specific audiences. Other ways to segment contacts include by industry, job title or company size.
- Know Your Goals: Why will you be sending emails? Do you want them to stay engaged or convert? Knowing your goals will guide what email types to send, whether it is a newsletter, sales generation email or product education.
- Know How to Incorporate Personalization: B2B personalization has become a key element to focus on. Ensure the content you send to contacts relates to their pain points or buyer persona characteristics. It could also be content the contact came across on a landing page that you are highlighting again or offering a related asset they might be interested in.
Effective B2B fintech marketing must include social media. Nearly every business or working professional is on one of the many social media platforms, leaving the opportunity for a broad audience reach. Here are a few tips when navigating social media marketing for your fintech organization:
- Determine What to Share: You can share internal content created, such as blogs, data sheets and infographics while also sharing third-party content, such as an article from an industry publication. Anything relevant and worthwhile for your audience.
- Establish What Platforms You Will Use: There are many platform options. In the realm of B2B marketing, LinkedIn holds immense importance since nearly every B2B professional uses this platform. While Twitter and Facebook serve as reliable options, Instagram and YouTube, though less commonly utilized for B2B purposes, can still be effective if your target audience actively engages with them. Establish a Posting Cadence: Find a happy medium for posting content. Do not overload your audience, but ensure they are not missing out on quality content. Consider these posting cadence best practices:
- LinkedIn: 2-3x per week
- Twitter: 4-5x per week
- Facebook: 2-3x per week
Are you part of a B2B fintech organization looking for help with your marketing efforts? Contact us today or request a free marketing consultation! We’ve helped many FinTech companies with their marketing resulting in company growth.