Marketing for Financial Services
The unique challenges of marketing for fintech and financial services
Financial services marketing is distinct from other industries. The unique nature of financial products and services means financial marketing campaigns need to build greater trust and credibility than other services. And often, the methods you use to build these must adhere to strict regulatory frameworks.
Increasing digitisation within the financial services industry, combined with a huge shift in demand towards digital services from institutions and investors, are making it ever more vital that financial services organisations engage their audiences effectively online.
To be successful in their digital marketing efforts, financial services businesses now have to overcome the following challenges:
- Commoditisation: Standardising financial products has made it harder to differentiate from the competition
- Disruptors: Fintech challengers are shaking up the status quo and upending the established order
- Lack of trust: The financial industry has suffered a loss of confidence in the eyes of many customers; trust it must painstakingly win back
- Regulatory barriers: Tighter regulations are making it harder to market effectively
- Digital transformation: Advances like marketing automation are rendering traditional marketing methods ineffective
- Digitisation: Digital-first customers expect enhanced and personalised digital experiences
With these barriers in place, financial service providers must create and implement innovative financial service marketing strategies that lead to brand awareness, increased trust and new business.
Navigating the financial services landscape
Setting yourself apart in the dynamic financial services industry is no small feat. With over 9,000 fintech businesses in EMEA, 10,000 fintech startups in the Americas and around 6,000 in APAC vying for attention and offering products like yours, competition is fierce. The total amounts to a staggering 25,000 competitors!
Financial services marketing operates under stringent regulations, where non-compliance can result in legal action, fines, and reputational damage. Issues such as building trust and credibility, evading commoditisation, preserving brand coherence, differentiating from competitors and optimising limited resources compound the complexity.
However, these formidable challenges also conceal opportunities; by transforming these hurdles into stepping stones, you can gain a distinctive competitive edge. There has never been greater potential to reshape the financial services landscape and firmly establish your brand’s identity and authority. But it requires a digital-first approach that’s precisely aligned with the needs of your target audiences.
Your vision, our mission
We understand that your definition of success is unique to your business. Whether it’s achieving specific sales targets, increasing brand visibility, expanding into new markets, or any other goal, we design our programmes to deliver on your vision.
At the same time, your success is crucial to our success. That’s why we work in extremely close collaboration with all our clients, working as if we were a part of your own business. Only by really getting under the skin of your business can we represent you effectively to your prospects. We want to remove the barriers, overcome the hurdles and provide you with friction-free marketing growth.
Let’s embark on a journey where your brand not only stands out but thrives, forging connections that matter and propelling your business toward unparalleled success. Your unique identity deserves a marketing approach that’s nothing short of exceptional, and that’s precisely what Rocket Science Digital brings you.