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Head of PR Department

Fintech marketing and PR

Fintech has revolutionized the way we manage money, making financial services more accessible and efficient. But without the right marketing and PR approaches, even the most innovative fintech offerings may fail. How to build an effective strategy to succeed?

According to the statistics, most start-up fails. There are several common reasons, which are related to a poor marketing. Our experience working with start-ups shows that a business should have marketing on day one. At early stages (pre-seed, seed, Series A) this job can be easily done by outsourcing CMO or marketing team.

Proven Marketing Strategies to boost your business

Know your customer

The first thing a start-up team need to do during an early stage is to define the customer, market requirements, use cases, personas, and pain points. 42% of start-ups fail because there is no market need for their product or services. If you do not have time and budget for a well-performed consumer insight, do at least “the Mom test” to save you time, money, and heartbreak.

Know your competitor

Our customers often tell us that their product is unique and has absolutely zero competitors. But when we start doing market research, we often find either similar solutions or even recognizable in the niche brands. The best strategy to be prepared for completion, is understanding the competitive environment and the way how to differentiate. Competitive analyses help you to identify the right direction for business development.

Know Regulatory Compliance

Based on your product and go to market strategy, understand regulations: ensure that your marketing plan complies with financial regulations and data protection laws. While developing the strategy for one of our customers based in England we had to attend and get certification at 4 courses: General Data Protection Regulation – GDPR, UK Anti Money Laundering, UK Anti-Bribery and Corruption (ABC), UK Cybercrime.

Develop a strategy

We often face that businesses underestimate the need to develop a strategy. But growth requires more than just a vision. It demands clear milestones, detailed roadmap and KPIs to achieve that vision. Without a strategic plan that outlines specific goals, target audience and markets, marketing channels to reach the target audience, marketing and sales plan, it’s challenging to move forward effectively.

Plan PR activities

Public relations for startups is more effective at earning trust than virtually any other promotional method, from paid ads to organic content. In fact, 92% of customers trust earned media more than traditional ads. Investing in a public relations strategy helps to increase visibility, improve credibility as the message is always stronger when it comes from the media, reduces marketing costs as earned media is often a lot cheaper than a comprehensive digital marketing strategy. More to that, investors pay close attention to the team members and key personalities, so often we develop and implement personal branding strategies to meet the requirements.

Benefit from networking events

Conferences and exhibitions are the perfect place to meet potential investors who might invest in your startup. They both helps to stay tuned within latest industry news and expand your network. Being a speaker at the event builds awareness and credibility. A well-prepared plan with a list of people and companies to talk, key sessions to visit and list of questions to the speakers, will definitely help to target potential leads, find right contacts and advisors to the project.

Iterate and adapt

Product management for startups is a complex task that requires careful consideration of customer needs, market trends, and product performance. The market landscape is constantly changing. It’s not enough to create a product that solves a customer’s problem today. Startups should be able to analyze users scenarios, improve the performance and adapt their product offerings to remain relevant and competitive in a fast-moving industry.

Do you need a comprehensive marketing strategy for your start-up? Contact us for a brief strategy session: info@marketentry.agency.

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