Digital strategy in Fintech

Financial technology is one of the sectors that is growing the most in the digital environment. The fintech industry has enormous potential, in an increasingly saturated market. This is why it is essential to establish a good digital strategy to focus all resources and efforts on achieving results.

Table of Contents

Target Audience

Defining the target audience is one of the most complicated processes in the definition of the digital strategy, but totally necessary. It is one of the most complicated phases that can take months of planning, observation and analysis, but that lays the foundation for all subsequent activity.

There are several ways to select a target. To define the profile of the client you can resort to different sources such as.

• Observing influencers from the sector. Analyzing the content of the influencers in the sector will provide us with useful information about what interests our customers, in addition, the profile of followers can be analyzed as the first approach to the target target.
• Analyzing the behavior of current customers. Observing how customers interact with the company or product will give clues to outline our audience.
• Interviewing the sales team. This source of information is very valuable. It should be used before interviewing customers, so they will be approached on a stronger basis.
• Interviewing customers. Taking advantage of the above information you can work this source without exceeding too much. Use all the recapitulated knowledge to work with more aim when interviewing clients.
• Interviewing non-customers. Although you do not always have the opportunity, a very valuable source of information is to interview those users who did not end up being customers. Know what went wrong, where the funnel was lost. If this feedback occurs right after the abandonment of the purchase, all the better. So the information is fresh in the user’s mind and the feedback will be much more accurate.

A series of questions must be answered to make sure which target audience the campaign should be targeted for.

How do customers find you? Where do they look for the information? What are they looking for? What questions do they ask? What objections do they have? What type of customer closes the online sale? What profile does multiple meetings need? Which one do you need to be convinced? How are you convinced?

Defining the buyer persona is the next step to define the target audience. It’s about building a fictitious customer with real customer data. It is a tool that helps the whole team to row in the same direction. According to Black Pixel, there are five user profiles for the Fintech market.

• The infant: is the user to whom his parents opened an account as soon as he was born. In that account he has been putting birthday money, for when he goes to college or grandma’s gifts. An account that will grow fat as he grows.
• The millennial: doesn’t like going to the bank. All bank actions are performed through the phone. Pay your friends through Bizum. You’re starting to save for a big expense. Compare the interest rates of a loan and request prior approval from your mobile. You have full confidence in mobile banking.
• The post-millennial: doesn’t trust banking in general. He is tired of bank fees and is married to a 30-year mortgage. Going to the bank is tedious and uses the app for transfers and account information. You have savings and will use the online environment to decide which financial institution is best.
• The mid-life: safety is the most important thing. It has accepted certain conveniences of online banking such as transfers, although it still goes through the branch for certain topics. Look for the financial institutions that best reward you, but as long as it seems safe.
• The retiree: the retiree closely follows his accounts. Your child helps you monitor accounts from the app, but you don’t over trust and prefer traditional banking. The one of a lifetime. Once the target audience has been defined, it is time to plan the positioning strategy. Define where it will appear and what value proposition. In digital marketing, taking a holistic approach can bring great results as long as it is done consistently.

SEO Optimization in Fintech

The SEO structure is strongly linked to the usability of the web. The first phase is to work on the technical aspects of the web, as well as its architecture, favoring the indexing of search engines. There are a number of nuances that have to be perfectly worked before getting to work the rest.

An essential when addressing a digital strategy. Working on the SEO strategy ensures having a website optimized for search engines and capable of generating trust to the user. When you start to develop an SEO strategy, it is intended that users visit the valuable content of the web, share it and end up making an acquisition.

• Basic on page: structure the sitemap, internal linking worked, use of H tags correctly, take care of the Hreflang if the web is in several languages …
• Mobile first: one of the most incident points by Google in recent years. Websites must be adapted to mobile devices. Responsive versions are no longer just a suggestion but an obligation.
• Progressive Web App (PWA): closely linked to mobiler first but more advanced. These are websites adaptable to applications with the advantages that this has, (push notifications, offline access …), they allow to be both in Google and in the Playstore. In addition to taking care of SEO, you need to work on ASO.
• Implementation of tools of value for the user: the creation of tools such as mortgage calculator or calculate how much it costs to have a child or what financing would be granted, in addition to generating value to the user, will increase the stay on the page and improve the user experience on the web. It is also a source of leads.
• Long-tail positioning: the Fintech market is very saturated, the cpc are very high and companies have enough funding to work the SEO strategy in a qualified way. Terms such as online banking are very difficult to get so one solution is to work on long-tail keywords that do not have so much competitiveness, but ensure an interesting volume of searches.
• Press releases: they help generate brand awareness, in addition, even if they do not contain links, the content will have an impact on brand positioning.
• Linkbuilding: consists of getting SEO authority through reference web links. It is important that the link is contextualized both in the content of the post and on the web. The blogs that will transmit the most authority are those that have a closer relationship with the world of Fintech.

SEM Optimization in Fintech

Google’s first results are usually reserved for paid campaigns. It is very difficult to get notoriety online without ending up investing in advertising platforms.

The main advertising platform in the online world is Google Ads. It allows you to create campaigns both in your search network, such as Youtube, the Display network or even appear in your search partners. Some tips to keep in mind:

• Search campaign: you must find the ideal combination between keywords and audience. Trying to combine it with the SEO strategy so as not to “step on” certain keywords. You always have to protect the brand by bidding for it.

It is increasingly common to see “black hat SEM” strategies in the weakest competitors in budget, they use the inertia of those larger who carry out mass campaigns to bid on their brand words and take their traffic.

• Key audiences: increasingly important in segmentation. The buyer persona can be used to generate audiences. Through Google Ads you can generate audiences using the urls of the competition and thus generate an audience with your users. Another option is to generate an audience on keywords, incorporating those users who have searched for “buy a house in” or “how much they will give me a mortgage”.
• Display campaigns: an option that not only serves to generate brand. Remarketing generates excellent results and taking into account the competitiveness that exists in the Fintech sector, the work that has cost getting users to the web cannot be wasted. Platforms such as Facebook and Google Ads can use Lookalike audiences, which use their own data to find users whose profile is similar to that of the initial audience.
• Fraudulent clicks: Google is not infallible, losses due to invalid clicks can be large, so there are platforms that can be supported to minimize damage such as Clickcease or Clickguardian.

KPIs in Fintech

Measurement is another fundamental aspect, thanks to the analysis of KPIs more effective decisions can be made. We can divide the group into KPIs according to the objectives that are established. Some of the main ones:

• Number of Unique Visitors: Basic growth indicator that allows you to know the volume of traffic of the site.
• Conversion rate: Percentage of sessions that end up meeting a goal.
• Abandonment rate: percentage of users who leave the website before completing the target.
• ROAS: percentage that shows the return on advertising investment. Mark the line of
  Net Promise Score: measures customer loyalty. Thanks to this KPI you can know if customers are close to recommending the product or service.
• Customer retention rate: number of customers who remain loyal to the initial number.
• Churn Rate: Active users lost in the month divided by active users last month. It is a KPI that allows you to know how many users are lost as time goes by.
• Customer Acquisition Cost (CAC): Advertising expense necessary to acquire a customer. Cost / New Users.
• Return on investment time: The amount of time that must pass for the customer to enter more than the CAC.
• LTV: value left by the user throughout its useful life. Interesting to know how much CAC you can afford to spend.

The Fintech sector is booming, the growth is huge and this has also brought a highly saturated market of competitors, many of them very strong. A good digital strategy is necessary if you want to achieve results.

First defining the target audience to be impacted and defining the buyer persona. Develop an SEO plan taking care of both the Off and the On page part and always offering valuable content. Work a lot on audiences and segmentations in CPC Fintech campaigns so as not to waste resources. And measure, measure to take strategies based on data and not on intuitions.