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If you ever pay bills using your phone, transfer money using an app, or check your bank statement online, then you are part of the FinTech industry.
Financial Technology or FinTech refers to an industry made up of companies harnessing technology to serve the payments sector. Fintech firms are generally startups that compete with traditional companies that are less reliant on software.
FinTech generally sits at the backhand of financial institutions and is changing the way we process payments and interact with our finances.
Why is the World Turning to Financial Technology?
FinTech offers solutions and develops bank-controlled financial instruments, such as remittances, business credit cards, and other processes while creating attractive alternatives and user-friendly digital destinations.
There are over 1.7 million unbanked adults globally, according to Global Findex, and FinTech enables these individuals to have access to their finances and assets even without going to banks or financial institutions. Consequently, FinTech startups disrupt the financial industry landscape from mobile payment, asset management, stocks trading, crowdfunding, and insurance.
Five Strategies for FinTech Marketing:
It is simply game-played principles and game design elements in a non-game environment.
There are several ways to use this in marketing: some of the most popular are running contests and awarding prizes based on board points for completed transactions or purchases, or simply creating visual games, puzzles, or quizzes to make your content more appealing and shareable.
Gamification has been widely used in pre-launch campaigns and as a part of go-to-market strategies to attract new users and raise brand awareness.
It refers to the old traditional market principle of forming alliances with third-party marketers and influencers and inviting them to promote your product or service to their existing networks in exchange for a small bonus or commission.
Influencers can be professional marketers and media providers or non-professionals such as industry influencers and bloggers. You will gain immediate and direct access to your target audience while earning their trust.
One prime example is a Partner Network, which connects publishers and advertisers around the world on a single platform and assists them in finding one another to promote a product or service.
Experience marketing establishes physical interaction with your target audience by giving them a one-of-a-kind physical experience with your brand. Many service companies in the tech industry use this technique to strengthen client relationships and generate new sales.
Experience marketing is one of the most effective methods for gathering consumer feedback and developing the story behind your brand by showcasing your products and services in real-time.
It is a broader concept of collaboration marketing, it is all about collaborating with a third party, a business or brand associated with a segment of a market you are interested in selling. Partnership marketing is an effective strategy for gaining immediate access to your target audience and establishing trust.
Partnership and joint venture programs and tactics have also been used in the pre-launch stage of FinTech to test markets and validate fluid concepts. These collaborations help gain new clients and increase market share in other ways.
Community marketing involves the participation of a community in a specific brand which gives all parties better communication and mutual engagement. FinTech backups and tech startups generally join the market to disrupt it and provide better service and customer experience, making it a widely used marketing strategy in Fintech.
Building communities is one of the best ways to be calmer to consumers and customer-focused because communities address basic human needs such as belonging and sharing. Many FinTech startups have incorporated that concept into their marketing strategies and actively attract their customers and users in developing their businesses.
How to Begin with FinTech Marketing
What is Affiliate Marketing?
Accepting monetary compensation for marketing the products and driving buyers or sales to them is known as affiliate marketing. The marketer has to advertise a product or service to another client via social media platforms or search engines and therefore earns the agreed-upon fee from the product owner for each sale or service completion.
How to Make Money With Affiliate Marketing
There are some important tips that you should focus on in order to be able to earn money with affiliate marketing:
- Choose the right audience for your product;
- Choose an affiliate program that is right for you, especially if you are a beginner;
- Know the product before you start selling it;
- Find out what your competitors are doing in the market.
In affiliate marketing platforms such as Partner Network and ConvertSocial, helps creators earn money online by promoting brands using their social media platforms such as Facebook, Instagram, YouTube, or TikTok accounts.
Creators choose which brand they will promote, create engaging content, and add referral links to the products. They can track their statistics or performance in their accounts and withdraw the money they earn in whichever way is convenient for them.
What do you need to create a successful affiliate site:
- Domain Name – The domain is the address of your website on the Internet, which enables visitors to enter your site when performing a search on Google, view your website link, and click on it.
- Host – The hosting space on the Internet stores your site and customer data. These data can be saved, erased, and retrieved.
- SSL Certificate – SSL is an acronym for (Secure Sockets Layer), a layer of protection for your site while exchanging information about customers while they visit your site.
- Attractive website design – There are several platforms and tools through which you can design your website interface easily, or you can hire a website designer to start drawing your website with the imagination that you want to serve your audience.
- Website construction – You can either develop the site with special programming, in which case you hire a programming business to design your website from the ground up. You can buy ready-made templates and create your online store or landing page for your electronic stores or website.
What is the Marketing Plan
A marketing plan is an operational document that a FinTech company creates to define an advertising or marketing strategy. It produces concrete actions that will follow these plans and that companies or organizations will implement to attract potential customers, reach the target market, and achieve the desired results from producing products or providing services.
This plan outlines the product awareness and public relations campaigns that the company will run over a specific time, which could be monthly, quarterly, or annual. A broad strategic framework is ideal for building a marketing plan.
Steps to Prepare a Marketing Plan
The process of building a marketing plan varies depending on its objective or the type of organization you belong to. For example, you can prepare a marketing plan that provides an overview of the entire company’s marketing strategy or focus only on a specific channel or product line.
There are 6 steps to building a marketing plan:
- Prepare a simple executive summary;
- Determine marketing objectives appropriate to the approved standards;
- Analysis of the personalities of the target customers;
- Preparing accurate research on competitors;
- Develop an actionable marketing strategy;
- Track results.
1. Prepare a Simple Executive Summary
You must first prepare the executive summary to create and develop the marketing plan. A well-written marketing plan provides readers a general idea of your company’s goals, marketing successes, and other important facts related to the nature of work and the achievements to ensure that customers are attracted and attracted to learn more.
2. Determine Marketing Objectives Appropriate to the Approved Standards
After preparing the summary, you will have to set the goals. These goals must be objective, measurable, and achievable. Setting a goal to win a certain number of new customers, earn a certain amount of money as a return on net profits, or get to a new spot in a country.
3. Analysis of the Personalities of the Target Customers
This step requires a lot of time to do the research accurately, as the basis of the idea of this step is to investigate information related to customers or target customers. Instead of asking “how to increase the number of customers”, you need to know “how to attract the right customers” -their goals, desires, and tendencies, and how you can solve their problems.
4. Preparing Accurate Research on Competitors
Preparing this research helps to know the competitors, their latest business, how to maintain your position among them, and their strengths and weaknesses. You can use this method to create opportunities, turn them into strategies to ensure job security, and divide competitors into groups that pose as threats. Other minor groups pose less of a threat.
5. Develop an Actionable Marketing Strategy
After collecting the necessary information and conducting the necessary research, the next step begins with detailing the strategy. Use visual methods to communicate ideas and explain them to all the team, then divide this strategy into tasks to facilitate the process of its implementation appropriately.
6. Track results
After implementing the plan, measure the results and the extent of success using the applied strategies to which the desired goal has been achieved based on objective measurable foundations, and determine this on an indicator that the entire work team can analyze and understand.
The Importance of a Marketing Plan
The importance of any marketing plan lies in transforming future strategies into reality by accurately applying them. These plans are a forward-looking exercise to set the appropriate vision for institutions to develop their products and services and establish channels for promoting and selling these goods.
- Marketing plans help reduce the uncertainty that can occur in the future;
- Help achieve goals;
- Help achieve communication and coordination between departments in companies;
- Help establish control over the market;
- It helps the clients to get satisfaction through the quality services provided by the companies.
Benefits of Marketing Plans
A compelling marketing strategy clarifies corporate operations, enables the formulation of future marketing strategies and objectives to improve success, and explains how to put these plans into action.
- Keeping all corporate employees up to date on movement and business coordinates;
- Allow your business to be proactive and aligned with your vision and goals;
- Facilitate the possibility of evaluating new results and opportunities;
- Having a plan means that your goals are measurable.
What is Website Business Traffic
Website traffic, sometimes called “sessions”, is the number of users who visit your website. It’s also worth noting that utilizing increased traffic is a metric for determining your online effectiveness in reaching your target audience.
Analysts also determine how long visitors spend on the site and which consumers make purchases. The success of a business website is determined by the growth in traffic and the number of users who took action.
Why Traffic Is Important for Your Website
Working to increase the traffic of your website is of vital importance to your business, and your presence on the Internet in general, and this will bring you many advantages, including:
- Increase awareness of your business;
- Increase conversion rates;
- Increase loyalty and credibility towards your business.
Keys to increasing brand awareness and visibility
- Use social media to your advantage;
- Know what your audience wants, then present it;
- Keep a consistent tone;
- Focus on your audience’s favorite platforms;
- Highlight directions;
- Enhance and Repurpose User Generated Content.
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