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What is B2B Positioning: Why It Matters And How to Do It Effectively?
December 2, 2024
B2B fintech marketing has often been viewed as more traditional and reserved, but that's changing. Fintech marketing is emulating B2C marketing more than its B2B contemporaries.
Why?
It's all about trust. Leading fintech companies are now focusing on building personal relationships, much like B2C brands do, by adding a human element to the corporate world. The fintech industry has embraced new platforms like communities, influencer marketing, and podcasts to connect with people on a personal level.
Especially since the pandemic, fintech marketing is no longer "business to business"—it's a "business to person” approach.
Let's dive deeper into the latest trends in B2B fintech marketing and see how you can make your business more relatable and engaging in today's times:
Given the complex nature of the fintech industry, educating the audience is essential. It helps address objections in the buying process and gain credibility. Because of this, most fintech leaders continue to believe B2B content marketing is the key to success. While demand generation and content are crucial, a successful fintech marketing strategy often requires a multi-faceted approach. Here are the 3 most effective tactics for fintech marketing:
Note: The most effective fintech marketing strategy often involves a combination of these tactics, tailored to your specific goals and target audience. By understanding the unique challenges and opportunities within the fintech industry, you can develop a marketing approach that drives results and positions your business for success.
Demand generation plays a pivotal role in B2B fintech marketing strategies. Fintech is a heavily regulated industry with security and compliance forming the foundation of the industry. The nature of business demands high trust and credibility. Every fintech company needs to build a brand and invest heavily in demand generation efforts to succeed.
The financial industry is complex and every software purchase often comes with a lot of objections and roadblocks. A fintech company has to educate its audience to grow successfully. Here are some ways to leverage demand generation for fintech marketing efforts:
The role of content is to educate the audience. Finance is a fairly intimidating topic, even for C-suite employees from non-finance backgrounds. Content is a great way to break barriers and add a human touch to the conversations surrounding complex fintech products. For fintech content marketing, there are three key areas companies should focus on– production, distribution, and format.
Production:
Good content marketing not only acts as the voice of the business but also as the voice of the customer. To achieve your marketing goals, you should conduct interviews or surveys among your customers. Existing customers act as brand advocates when they are happy with the product. Use your content to amplify their voices, much like a megaphone. Collaborating with satisfied customers helps in the following ways:
Taking this approach can be beneficial for your business in one more way. The burden of production shifts from your team, who only acts as a publication in instances like this. It is difficult to find skilled marketers who understand the complex fintech industry and can create content around it. Taking this approach eliminates that issue too.
Distribution:
Leverage social media marketing to ensure your content reaches potential customers. The fintech sector tends to shy away from experimenting with these channels, often pushing them to the background. Marketing teams may rely on sporadic LinkedIn posts sharing research or upcoming webinars, hoping that will suffice.
However, volume is key to social media success. While quality is important, it’s often confused with perfection, causing many campaigns to never launch. Fintech marketers sometimes overlook that feed algorithms reward consistency and frequency. If your LinkedIn or Facebook posts aren’t gaining traction, it could be due to the lack of a clear strategy. Failing to tailor a strategy for each platform is a missed opportunity, as higher volume brings more customer feedback and valuable insights for improvement.
B2B fintech social media strategies often fall short because marketers treat them as secondary rather than dedicating the time to craft a focused plan. It’s important to strike a balance between quality and quantity, while also experimenting across different channels.
Content marketing should blend both traditional and trending platforms. Rather than jumping on the latest popular channels, focus on where your audience is and the content they engage with most to guide your decisions.
Formats:
Email marketing campaigns have a long-standing history of success in the fintech industry. The biggest benefit of email marketing is that it is an owned channel. However, don't refrain from adopting new channels and formats like interactive videos and podcasts. They are highly effective in engaging a broader audience in today’s landscape. Remember that your content isn’t just competing with others in your industry—it's competing with all the content your audience consumes. You aim to capture the audience's attention while talking about complex topics like bonds and investments, drawing their attention away from far more interesting content like shopping guides, cute pet videos, or movie reviews.
Note: Fintech is a broad category and comprises various solutions like insurance, mutual funds, assets, lending, etc. They are also targeted towards businesses of different sizes, whether it is startups or enterprises. Understand the buyer persona for a targeted approach.
Tripledart's content marketing efforts helped Mysa, emerging B2B fintech startup, to sharpen its market research and identify potential customers, resulting in a 100X increase in online impressions.
Pros: Cost-effective strategy because it has long-term reach. It also establishes you as an industry leader.
Cons: It is effort intensive because the research and strategy required take time to build and optimize.
Suited for: Businesses of all sizes looking for organic growth
Search engine optimization or SEO is a vehicle to distribute the content you've created. It helps improve your brand presence online. 68% of online experiences begin with a search engine. Therefore, investing in your website's SEO should be a top priority in your fintech marketing strategy. Addressing search intent in a highly niched market like fintech can provide very high ROI, bridging the gap between building a brand and generating revenue through content marketing.
SEO not only helps distribute your best content, but good keyword research can facilitate a better understanding of the target audience and their pain points. This can help you create content on other channels and platforms that are relevant to your potential customers.
Working with a good inbound agency can help you achieve your goals faster.
TripleDart helped Multiplier, a leading global employment platform, revamp its SEO strategy by prioritizing long-tail keywords and publishing SEO-centric content to scale conversion volume by 50%.
Pros: Cost-effective long-term results
Cons: Requires time to deliver results
Best suited for: Fintech companies looking for visibility in the early stages of growth.
Once you've established your brand as a thought leader in the industry and created a brand, leverage your presence to convert your audience into customers. While different content formats can help you make your initial impact, lead-generation tactics drive conversions. Here are a few:
Paid channels are often treated as a tactical tool because they are highly metrical. However, paid marketing needs to be strategic and not treated like a faucet that turns on and off. It is pivotal in driving conversions, not a bonus that works with your content marketing channels. The key is to experiment with different paid channels like LinkedIn, TikTok, or Facebook- use both traditional and forward-leaning channels to find the mix that works best for you.
Recently many B2B fintech companies have achieved success on these new-age platforms:
Stripe: The popular payment platform uses TikTok to share educational content about payments and financial technology.
Intuit: The maker of QuickBooks and TurboTax leverage TikTok to share tips and advice for small businesses.
Brex: A fintech company that provides corporate credit cards and cash flow management tools uses Facebook to showcase its products and engage with its audience.
You can also use PPC (pay-per-click) or paid channels as a distribution channel that facilitates sales. Whether targeting search channels with long tail keywords, use of trends on social media paid channels, or conversion setup via CRO, paid channels can be highly effective when leveraged as a part of your fintech marketing efforts.
PayU leveraged paid advertising to generate leads effectively. They achieved a 7X increase in MQLs using performance campaigns in their most successful arenas. Tripledart helped them implement a conversion setup to improve the predictability of campaign performance and incorporate long-tail keywords to reduce cost per lead (CPL).
Pros: Shows quick and measurable results.
Cons: It can be costly as compared to organic channels and needs expertise to set up.
Best suited for: Fintech companies seeking a quick turnaround can achieve this if they have a well-defined target audience and clear segments.
Account-Based Marketing (ABM) is a lead-generation tactic with a highly targeted approach. While other marketing strategies cast a broad net, ABM allows you to track the customer journey through various touchpoints. By observing how each audience segment interacts with different channels and marketing campaigns and how these touchpoints influence their final decision you can tailor your approach to save time and resources.
The fintech industry struggles with long sales cycles due to a highly skeptical audience. ABM can significantly reduce customer acquisition costs. This is a proven SaaS marketing tactic that also pinpoints the audience segments that are most likely to convert.
Pros: A highly personalized marketing strategy that increases engagement and conversion rates.
Cons: Resource-intensive and may require significant time and investment to see results.
Best Suited for: Fintech companies looking for a more targeted approach and the ability to spend on setup
In contrast to the marketing strategies mentioned above, product-led growth relies on the product as the primary driver of customer acquisition, engagement, and retention. The fintech industry is highly competitive and aims to be customer-centric. This aligns perfectly with PLG's focus on self-service and product-driven discovery. PLG ensures that the product meets the needs and expectations of users, driving loyalty and referrals.
Pros: PLG can scale rapidly as products are designed to be easily adopted and shared. This is especially important for fintech startups looking to achieve rapid growth.
Cons: PLG relies heavily on data to understand user behavior and optimize the product.
Best Suited For: Fintech companies with a product marketing strategy and well-defined USP.
The financial industry is complex and requires thorough understanding and research to develop a marketing strategy that engages your target audience and captures the essence of innovative solutions while following regulatory laws from financial institutions. Tripledart is a B2B marketing agency that has a track record of creating successful FinTech marketing campaigns.
Our team consists of experts in different marketing strategies and fields. They act as an extended marketing team, identifying the best strategies for B2B fintech marketing and creating actionable steps to achieve your revenue goals. Collaboration with Tripledart also helps fintech marketing teams reduce overhead costs like technology stack, resulting in high ROI.
Let's discuss your Fintech marketing goals. Contact us today!
Join 70+ successful B2B SaaS companies on the path to achieving T2D3 with our SaaS marketing services.
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