FinTech Marketing Trends in 2020 - Great Content is the Spark For Fintech

Where do FinTech companies need to concentrate their marketing efforts in 2020? Read on to find out the industry shifts taking place right now due to Open X.

After looking at the World Fintech Report published in June 2019, content marketing should be at the top of every FinTech's marketing agenda. 

Why?

A new emphasis on customer experience is the number one market shift happening right now as part of the switch to Open X—a new phase of innovation requiring more co-operation between banks and start-ups. 

And one of the best ways to influence customer experience is with high-quality content that gets shared and MOVED by users. To date, there has too much focus by FinTech on products.

It's no news that content marketing has changed the way we conduct business, or that content helps companies move the needle without relying on paid advertising. 

From awareness to intent, to decision, quality content marketing can help get your story in front of tech-savvy consumers. 

And with tech leaders in a realm that impacts the way we interact with money, there is no doubt that FinTechs have exciting and meaningful stories to tell. 

Cultivating those stories will not only help FinTech companies drive sales but impact the way the world perceives money and finance. 

The State of Fintech in 2020

Fintech is a booming industry, comprised of start-ups that are disrupting how people and businesses interact with traditional banking and financial institutions.

A more mature audience might see this shifting trend in financial services as nothing more than a tinsel industry taking care of millennials and their transient, yet highly selective preferences and behaviours. 

That is not the case, however.

B2C Fintech

Fintech indeed caters to the tech-savvy millennial who is comfortable doing life-admin on a smartphone and browser. 

Not so evident is the fact industry trends include MOST consumers—not just tech-born Millenials. 

In today's digital age, there is a heavy focus on three functions from users young and old:

1. Convenience, 
2. Ease of Access, and 
3. Speed. 
   
   

And countless Industry reports show the majority of people are using between one and three apps to manage their finances.

If that's not enough, the results of this survey from peer-to-peer lending platform, Prosper Lending, point to continued fintech growth in the sector for consumers:

• 18% of people who ticked the box to say they weren't using online apps or sites for finances did say they 'agreed' or 'somewhat agreed' that they 'want to in the future.' 
• The survey also noted a whopping 84% of respondents reported feeling 'more in control' of their money when using new tech or apps to manger their finances.

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B2B Fintech

Growth of B2B fintech is on the rise too with research from Hampleton Partners finding enterprise financial services and integration one of the hottest sectors for investment in 2019. 

Fintech companies help businesses grow mainly with scalable tools. Think Xero, Paypal, Stripe and mobile payment solutions like Square.

Businesses now have access to tech tools that can help them: 

• pay employees and vendors with a single click, 
• manage multiple currencies plus distribution and processing, and  
• accept credit card payments online without the hassle of merchant account fees.

How Can Content Marketing Move The Needle For FinTechs?

Content marketing and high-quality content have never been more critical for fintech. Content impacts almost every other online strategy, so this is no surprise. 

Great content has the power to:

• Boost SEO by narrowing your online presence and increasing your domain authority in a specific niche.
• Earn backlinks from other influencers and thought leaders who want to reference your work.
• Provide fodder for social media channels and message amplification.
• Can be used for lead generation and email campaigns that nurture leads.
• Give your landing pages and web pages more salience by adding value.
• Content positions you and your brand as a thought leader in your industry.
  
  

The benefits of producing, sharing, promoting, and amplifying good content are infinite. 

As B2B buyers continue to hunt for valuable information rather than waiting by the phone for a sales call to solve their problems, high-quality content needs to meet that demand.

In a State of B2B Procurement Study, Accenture found that 94% of B2B buyers conduct research online research BEFORE they purchase a product for their business and 55% conduct research when they're READY to buy.

Business owners and managers are sleuthing for information and high-quality content from fintech. 

How does that impact fintech marketing trends?

Fintech Marketing Trends in 2020: Content To Play A Big Role For Fintechs

The fintech industry and digital content marketing are growing and evolving. But where do fintech and content marketing intersect, and why?

Fintech has an impact on how the world works for both people and businesses—putting the industry in a unique position. The sector can capture an audience up and down the stack. 

The public wants to know how their day-to-day lives are changing when it comes to managing their finances, what to expect in the future, and how they can more easily manage their saving and spending.  

Businesses want the same treatment. Manage expenses efficiently is high on the agenda for every industry, segment, consumer base, and audience. 

Again, content is vital for both consumers and corporates. Ashley pointer from business2community lays it out this way in an article she wrote in 2017. 

The principles remain the same two years later:

• Content is a guidepost for consumers and businesses as they continue moulding their digital financial behaviour and preferences. 
• Consumers and businesses want to understand how financial technology can help, the risks, the rewards, the unknowns, and the "what-ifs".
• Content can explain how different technologies will help businesses and consumers improve financial management and explain why that is important since it is not always obvious.
• Content sheds light on the risks of new technology so audiences can understand cybersecurity risks and make better choices.
• The content shows people and businesses how fintech can make their lives more comfortable, less inconvenient and time conscious.
• Content puts a deliberate spotlight on the unknown and puts baseless rumours, unfounded fears, and other uncertainty and insecurity to rest.
• The content encourages collaboration, facilitating new partnerships and new technologies that can transmit the benefits of FinTech across categories—and create new ones.
• Content answers questions in a compelling way—it sometimes answers questions people and businesses didn't even realize they have.
• Content solves problems by explaining pain-points and helping each audience navigate multiple solutions in an honest, objective, helpful way.
  
  

Content Can Help Fintechs Connect With Their Target Audience

According to Ashley, content drives the connection between the creator and an audience. 

And Content marketing is an educational and trust-building exercise that builds relationships and fosters connection with core audiences. 

This connection can drive meaningful business results. Specifically, content marketing leads to:

• New traffic and more traffic – companies whom blog and guest-post on industry sites get the benefit of more exposure and more links, driving increased traffic to their websites from SEO. Hubspot says 63% of marketers say their top challenge is generating traffic and leads. Content is an excellent way to get more exposure from the right audience. 
• Higher conversions – Once people are on your site, high-quality content combined with a smart call-to-action can lead to increased conversions.
• Higher authority – That may seem like a soft benefit. Still, data says otherwise: Another Hubspot report indicates 39% of buyers said they relied on materials written by the vendor when making a purchase decision for new software. Compare this to 33% who relied on analyst reports and 19% who relied on a salesperson.
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Great content with an ignition switch from content marketing is compelling. It's on the same par as a media article in a national publication or analyst report. 

FinTechs with a low profile and minimal marketing budget can benefit from investing in the right kind of content. 

That's excellent news for fintech start-ups with limited cash flow or funding from investors, or those not sold on the merits of content marketing. 

There is no doubt that content marketing is a proven way to make a significant and memorable impact on potential customers, drive sales, and be a helpful voice amid advertising noise.

Ben Hucker is the founder and principal of iEvoke. He has 10 years’ experience consulting to listed and private companies in Australia. Ben teaches agencies, freelancers and entrepreneurs the skills they need to produce high-ROI brand content marketing. Learn more at www.ievoke.com.au or email [email protected].