Marketing in FinTech
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Transcript of Marketing in FinTech
MARKETING IN FINTECH AND OTHER TECHby Victoria Rusnac@VictoriaRusnac
Marketing strategy
Brand strategy Product marketing P&L management Customer MarketingGrowth Marketing
Digital Marketing
Executive MBA
MARKETING IN FMCG, TELCO AND TECH
FINTECH IS BOOMING
• Financeisalsoanopaqueindustry.• Feesandchargesarecomplexorhidden.
PAYMENTSGoCardlessRevolut
MONEY TRANSFERTransferWiseAzimo
VIRTUAL BANKAtomN26
TRADINGEtoro
LENDINGMarketInvoice
COMPANIES THAT WE WILL COVER TODAY
FINTECH IS TECH WITH SOME CHALLENGES
§ FinTech requires a significant behavior change§Customers face a lot of inertia§ Finances are not fun!
BEHAVIOURAL CHANGE IS IMPERATIVE
FINANCE IS AN OPAQUE INDUSTRY
TRUST IS CRUCIAL
REGULATION DRIVES COMPLEXITY&CUMBERSOME UX
BUILDING AWARENESS & DIFFERENTIATION
MARKETING IN FINTECH
Growth Hacker is a person whose true
north is growth, combining engineering, designing and marketingsimultaneously in order to find optimal product-market fit. Sean Ellis, DropBox founder.
MARKETING IN FINTECH… GROWTH HACKING
THE ONLY FUNNEL I BELIEVE IN
LEAN MARKETING FUNNEL AARRR
Startup Metrics for Pirates Dave McClure
AARRR IN ACTION
AARRR IN ACTION
THE CONSUMER DECISION JOURNEY BY MCKINSEY
PRODUCT MARKETINGACQUISITIONRETENTION
MARKETING IN TECH… THE MOST IMPORTANT
PRODUCT MARKETING
https://www.atombank.co.uk
ATOM BANK
BENEFITS
UNIQUE BENEFITS
§ Mobile, always at hand. § Make things straightforward, personal and great value.§ Receive your own unique Atom logo. Name your bank whatever you
want to.§ Opening an account in just a few taps.§ You can login using face and voice recognition.§ You’ll have 24/7 support from our team at Atom HQ.§ We’ll give you a peek into the future by predicting how much interest you’ll
earn in months to come.§ And we’ll give you a little nudge when you need to do something. Unlike
some banks you may know.§ Better interest rates. Our 1 Year Fixed Saver earns you 1.40%.
ATOM BANK: BENEFITS
HUMANS HAVE SHORTER ATTENTION SPAN THAN GOLDFISH
FEATURES CUSTOMER BENEFITS
QUANTIFIABLECUSTOMER BENEFITS
Unique Experiences“Ownable” moment
PRODUCT MARKETING EXPLAINED
A feature is a factual description of how your product works. The features are the functioning attributes of your product. The features also provide the ‘reasons to believe’.
A benefit is what your product does for the customer. The ways that the features make your customer’s life better by increasing pleasure or decreasing pain.
FEATURES & BENEFITS
FEATURES
BENEFITS
VIRTUAL BANK N26 HAS FEATURES FOR YOU
FUNCTIONALITY: send money at the market rateBENEFIT: cheaper money transfer QUANTIFIABLE BENEFIT: up to 8x cheaper. Save $72.
TRANSFERWISE: QUANTIFIABLE CUSTOMER BENEFITS
ETORO: QUANTIFIABLE BENEFITS + SOCIAL PROOF
BENEFITS:§ Funding in 24 hours§ Flexible§ Low rate between 1
and 3%§Use case study and
quantifiable benefit§Build trust = show the
amount funded so far
MARKETINVOICE: QUANTIFIABLE BENEFITS
MESSAGING IN ALL TOUCHPOINTS
ACQUISITION
AARRR IN ACTION
§ DIGITAL: SEO, SEM, PPC, SM, CRM, content, influencers§ OFFLINE: TV, radio, OOH, magazines§ EVENTS: roadshows, conferences, training§ VIRALITY: viral acquisition & peer recommendation§ SALES: BD, telesales, lead nurturing§ PARTNERSHIP marketing
ACQUISITION CHANNELS
MULTITUDE OF CHANNELS
BUSINESSSMECONSUMERS
ACQUISITION CHANNELS
DIFFERENT CHANNELS TO REACH DIFFERENT SEGMENTS
UNDERSTAND THE CUSTOMER JOURNEY
https://www.thinkwithgoogle.com/tools/customer-journey-to-online-purchase.html#!/the-us/arts-and-entertainment/large/generic-paid-search
UNDERSTAND THE CUSTOMER JOURNEY
https://www.thinkwithgoogle.com/tools/customer-journey-to-online-purchase.html#!/the-us/arts-and-entertainment/large/generic-paid-search
ACCOUNTANTS partners and selling channel for financial management software
BENEFITS§ Special free software § Free training§ Promotion of their firm§ Marketing funds
PARTNERSHIP MARKETING FOR FINANCIAL SOFTWARE
Thomas Cook introduces interest-free direct debit paymentsA new method of spreading the cost of paying for holidays by the use of direct debit is being introduced by Thomas Cook.The monthly payments by direct debit scheme is linked to a low deposit as Cook becomes one of the first travel companies to offer an interest-free payment plan with zero fees for its customers.Consumers booking online select the date of the month that the direct debit is taken and can match the timing of payment with convenient dates, such as payday.Setting up the direct debit is integrated as part of the checkout process when booking on Thomascook.com.Cook has teamed up with direct debit provider GoCardless to offer the service.
PARTNERSHIP MARKETING IS A BIG OPPORTUNITY
PEER RECOMMENDATION
WORD OF MOUTH“INVITE FRIENDS” IN APPSEND & RECEIVE MONEY
DEMAND GEN VS BRANDING
§ First, demand gen that will allow to optimise messaging and LTV/CAC.
§ Second, building brand.§ Branding makes your business
survive in the long term.§ For FinTech companies establishing
a new category, it’s more critical to dial up branding quickly.
39
BRAND CAMPAIGN? BE FIRST. BE PROVOCATIVE.
LEAD MANAGEMENTATTRIBUTION MODELROI
THE BIGEST CHALLENGES
RETENTION
NPS IS SUPER IMPORTANT
CUSTOMER IS KING…. VOCAL KING!First positions in organic of azimoreview.comVideo was viewed 38,500 times
FULL TRANSPARENCY
WHAT ARE WE MISSING?
PRODUCT-MARKET FITBRAND MANAGEMENT MOBILE AND ASOCUSTOMER LIFECYCLE CRMCONTENT MARKETINGPR&PUBLICITY
A LOT…
THANK YOUVictoria Rusnac
@VictoriaRusnac