Financial technology is transforming the banking and financial sectors, but it is still difficult for fintech companies to earn the trust of clients and investors. Two financial technology companies, Graft and Incomlend, also had this problem. Graft was the first, global open-sourced payment gateway blockchain network designed for point-of-sale transactions, and Incomend was an online, multi-currency exchange platform that connected businesses and private investors.
What problems marketing for fintech faces?
While these businesses had great ideas and offered valuable services, they were having difficulty marketing themselves due to the following misconceptions and problems:
- Fintech has a bad reputation because it is associated with fraud;
- Potential clients and investors knew a little about fintech and were reluctant to implement it;
- Companies thought it would take too much and time and money to teach their employees how to use fintech;
- Graft and Incomlend had complicated financial models that were hard to learn.
We had to find a way to help these companies reassure potential clients and investors that these companies were trustworthy and could serve a useful purpose. To convince people that these companies could be trusted, we had to raise the level of awareness on the market about Graft and Incomlend. Our task was to educate people, that they could benefit from them.
What problems marketing for fintech faces?
Incomlend targeted Asian market (Hong Kong, Singapore) where the liquidity of money was low. By investing money in the bank, people could get 2% yearly. People who invested in Incomlend’s invoices could get 2% from each, every month. We provided the audience with easy to read and understandable content and used instructional videos that explained their financial processes. We’ve built up the company’s brand awareness using the founder’s personal following.
Graft had launched when the competition on the market was high. Big ICO projects spent 100,000$ daily, while small startups could spend 10,000$ monthly. We decided to target on crypto enthusiasts, a narrow target audience that believes in crypto products. Our marketing campaign was focused on combining crypto payments with PoS. We demonstrated and explained that we know hot to make people pay in a restaurant with cryptocurrency. We’ve built a brand of owners, by promoting Telegram channel.
After conducting a detail-oriented study of the market, determining what audiences we should target, and raising the initial awareness, our team developed performance marketing strategies.
Performance marketing is about scaling
As for Graft, we created video ads that promoted the message that Graft was going to mainstream cryptocurrency and launched PPC campaigns, which targeted serious cryptocurrency investors and enthusiasts. To collect contacts we created landing pages and implemented marketing automation for further email marketing, PPC, and remarketing. We used Telegram channel to build trust, so owners communicated with clients 24/7.
For Incomlend, we found that Facebook ads and Google search were the cheapest and most effective tools for building awareness about the company. We found that LinkedIn and GDN were generating a few leads, so we ceased our efforts on those channels. After focusing more of our efforts on Facebook and Google Search, the marketing strategy brought in great results for the company.
With our help, Graft and Incomlend enjoyed unprecedented results and success. Graft was able to bring in an additional $3 million in profits by selling 22 million tokens, they gained 5,000 supporters on Telegram, they got 10,000 brand requests, and – most importantly – they built trust between themselves and their clients. Incomlend was able to generate over 130 new leads in less than two months, and the number of leads continues to grow.
A digital marketing campaign that focuses on building trust and awareness is the key to successful marketing financial technology to an audience that is reluctant to adopt new methods. With the right digital marketing agency on your side, your fintech company can also successfully promote its services.
A digital marketing campaign that focuses on building trust and awareness is the key to successful marketing financial technology to an audience that is reluctant to adopt new methods. With the right digital marketing agency on your side, your fintech company can also successfully promote its services.
