While marketing and PR have been essential parts of every industry, the recipe for success keeps getting more complicated. Every industry has to adapt its marketing strategy to the current trends, tech development, the needs of its target demographic, as well as the reports from analytics.
The fintech industry is no different.
In order to cater to the growing demands of consumers, companies in the fintech sector need to focus on their marketing and PR strategy. In order to have a successful campaign, the company needs to be aware of the current marketing trends.
Marketing Trends in the Fintech Industry Affect PR trends
Marketing and PR are two fields that remain interconnected.
Marketing may have the primary purpose of driving sales, and PR may focus on the company’s brand and image – however, both of them impact each other. In most cases, the PR and marketing teams may need to collaborate to make sure their campaigns are successful.
For this reason, monitoring the marketing trends in the fintech industry is necessary for developing a great PR strategy.
Currently, the fintech industry is experiencing rapid changes. Both PR and marketing have to keep up with rapidly changing technology and information, and they can influence marketing trends.
The strategies in place may require constant tweaking, where something that worked may not be a viable option anymore. In order to pass on information to their customers and the public, the PR and marketing teams need to be aware of any new developments in the fintech space. For now, their strategy should consider the following trends:
Content is the Key
There is an increasing demand for authoritative and high-quality content that focuses on fintech developments. Customers, potential business partners, and investors need correct and concise information regarding where the sector is moving, what new technologies they can look forward to, and how the technology will impact financial management.
Focus on Facts Instead of Rumors
The fintech industry sees a lot of speculation regarding new technology that may change the entire market. With how widespread misinformation is, it is necessary to fact-check everything.
With a number of unknown variables, it can be difficult to discern facts from fiction. However, PR and marketing should stick to verifiable information. Rumors or incorrect facts can be damaging for the business – they can lose their reputation, which might take a long time to recover. A good strategy should focus on a fact-based campaign that dispels misinformation.
Since the fintech industry is a vast sector, a collaboration between companies could prove to be highly beneficial. Collaboration can help lay the groundwork for the development of new technology.
Since new developments are exciting for customers and potential partners, collaboration can help promote interest in the company.
Use of Analytics
Analytics can be a powerful tool. Instead of vague promises, they provide solid facts backed by numbers.
By focusing on statistics, a company can find out what is working and what isn’t.
They can also look at the ways they can improve the business. In marketing and PR, analytics help provide data on what strategies or media channels are working.
With more than 17 years of PR experience, Matthew leads teams in launching and building high-growth tech companies, disrupting industries, building global brand resonance through thought leadership, C-Suite profiling, and speakers’ programs, as well as crisis communications across a variety of industries.