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According to a McKinsey report, consumers consider trustworthiness and data protection nearly as important as price and delivery time. And they won’t buy from a company they don’t trust. This revelation makes one thing clear: Trust must be the core of any worthwhile fintech marketing. Otherwise, campaigns will repel potential customers and ultimately waste money.

For most fintech companies, however, positioning themselves as credible brands can be challenging. To make it easier, we share valuable tips for creating marketing campaigns that develop credibility and how a fintech digital marketing agency helps elevate brand authenticity. But first, understand why trust is a critical component of fintech marketing.

Why Trust Truly Matters in Fintech Marketing

Prospects will take their business elsewhere if a company isn’t trustworthy or doesn’t clearly communicate data protection policies. Statistics say 85% of consumers want to know data privacy policies before purchasing. And nearly 50% would consider another brand if a company is unclear about how it uses customer data.

Trusted fintech brands can grow without fee cuts, gimmicks, or special treatment for customers. The companies have to be good at what they do, of course, but thriving in the fintech industry is purely based on one simple concept: trust.

With trust, a company will attract customers and retain them for years. Without trust, failure is foreseeable—it is just a matter of time. Here’s what digital marketing for finance brands should prioritize to earn customers’ trust.

3 Tips for Developing Trust in Fintech Marketing

1. Build credibility with social proof

Reviews and testimonials work like magic in marketing because customers trust other customers. According to statistics, 68% of prospects trust customer reviews when making a purchase. This number makes online opinions the third most trusted source of product information.

Therefore, fintech brands should collect testimonials from current customers and include them in marketing campaigns. For example, they can post customer testimonials on their websites. The testimonials are even more effective when they are in video form.

2. Connect with customers emotionally through a compelling brand narrative

If prospects don’t trust a brand, they won’t buy from it. And if they buy, they won’t stay there for long as they move on to a competitor. One way to avoid this? Leverage the power of storytelling in fintech marketing.

Telling a compelling brand story that people resonate with helps potential customers understand a company and why it exists. When prospects relate to the ‘why’ of a brand, they develop an emotional connection with the company. The result?  Increased likelihood of prospects making a purchase.

 That said, one can only tell a compelling brand story with sufficient knowledge of:

●        The target audience

●        The product or offer being promoted

●        What the company stands for (values, reasons for existence, and the brand’s positive impact on the world)

Transparency and genuine communication are also critical in a brand narrative. The two promote authenticity in fintech branding, which helps build customer trust. If creating a compelling story is time-consuming, outsourcing the task to a marketing agency for fintech is a great idea.

3. Invest in content creation to give customers what they want

Another way to build customer trust is to serve content that meets their needs or resonates with their pain points on social media. If the content is relevant and helpful, a brand becomes the go-to expert when the audience wants help. The company also establishes itself as a thought leader in the industry.

Fintech Marketing Services that Build Customer Trust

A company’s marketing effort should effectively communicate data protection measures, privacy policies, and regulatory compliance to increase confidence in potential customers. Social proof, compelling brand stories, and personalized content can help fintech businesses achieve just that.

The fintech market has seen rapid growth in the last few years. Today, there are over 10,000 fintech startups in America, with 9 in 10 Americans using a fintech app to manage their finances. Initially valued at $127 billion in 2018, the market’s valuation is estimated to double to $324 billion by 2026.

The increase in the number of customers indicates more market opportunities. However, most consumers still do not trust fintech companies making it more difficult to win the audience and achieve business success. In a Mastercard survey of 4,000 Canadian and US consumers, only 32% of respondents reported having high credibility in financial technologies, 20% strongly distrust fintech, and 48% remained neutral. 

To tackle the challenge, customer testimonials and reviews are one of the best ways to build trust and enhance business credibility and visibility. This is often included in the website design phase. This fintech marketing technique provides potential consumers with the assurance they need to choose your company over the competition and this can be achieved through including reviews in your website.

Make Customer Testimonials Your Trump Card

For experts doing fintech marketing, customer testimonials are something that should be definitely explored. Using these testimonials from individuals and corporations helps to make quick yet smart business decisions to enhance market performance.

In 2012, Nielsen reported that 92% of consumers trust word of mouth over traditional advertising. The situation hasn’t changed: 9 in 10 buyers still trust testimonials and feedback from friends, users, and acquaintances.

This type of fintech marketing is a powerful mechanism for getting new customers and reaching the target figure of clients. Collecting customer testimonials can show potential customers that your brand is trustworthy and legitimate and offers high-quality services. This can help build trust with existing consumers and attract new leads.

Engaged customers tell a story of a service or product value better than a marketing agency for fintech can. They reveal the brand’s benefits from a user’s perspective.

Why Customer Testimonials in Fintech Marketing Are Powerful

One of the most significant benefits of testimonials is that they provide social proof. This is the idea that consumers are more likely to buy a service or product if they see that other users approve of it and are already enjoying it. The power of customer testimonials depends on the fact that they demonstrate that others are using and have already had great experiences with the brand, which encourages potential clients to also sign up.

Customer testimonials can also help fintech digital agencies identify areas needing adjustment. By asking customers for feedback and testimonials, these agencies can get valuable reviews about their services and products as well as any areas where changes are necessary.

Finally, testimonials can help a fintech agency build credibility and trust with potential customers. When potential customers see positive reviews from other users, they are more likely to trust the brand and be willing to work with them. This is because customer testimonials provide a sense of assurance that the fintech agency will meet their needs and that their time and money won’t be wasted.

Overall, asking customers for testimonials and reviews is a powerful and effective way for a  fintech agency to attract more customers and enhance their overall performance.

Social media is a powerful marketing tool and brands from every industry use it to reach their target markets. Fintech is among the fastest growing and most innovative industries, and marketing to their demographic requires special consideration. 

The age range of those working in the field of finance is vast. It is as common to meet an accountant close to retirement as it is to meet a recent college grad, looking to work her way through the ranks to become CFO at a large corporation. 

Marketing to that vast age demographic requires some savviness when it comes to social media. 

How to Use Fintech Digital Marketing     

Different generations use various platforms, meaning that brands that need to reach multiple generational demographics must market on every social media platform. 

Boomers and older Gen X decision-makers are more likely to use Facebook or LinkedIn while Millennials are more likely to use Instagram and Twitter. Gen Z is more likely to use platforms like:

• Tik Tok 

• Twitch

• Discord

Brands that master the role of social media in fintech marketing benefit in the following ways:

Generate Leads  

Any social media platform is a great way to generate leads. Brands can use sponsored ads that appear on the timeline using retargeting ads or direct leads to the brand’s website or landing page. Use that to collect lead contact information for future marketing. 

Build Relationships

More than 4.5 billion people use social media every day. However, brands can’t simply create the business listing on any given social media platform and hope for the best. 

Brands can use these pages to engage with leads and customers. Use the messaging feature to connect, answer questions, and build relationships with those interested in the brand. 

Boost SEO Rankings    

Social media marketing is an excellent way to increase SEO and make sure brands rank highly on search engine results pages (SERPs). Social media pages already have great SEO and brands can use these pages to generate social signals to browsers by sharing content between the brand’s website and social media pages and boost SEO.

Increase Brand Awareness 

Social media is an excellent tool for increasing brand awareness. The more times a potential customer sees a brand, the more familiar they become with the brand and what they offer. 

Fintech providers can create brand-related content, such as infographics and blogs posts and share it across every social media platform. 

Scalable Social Media Marketing for FinTech Brands

Fintech is a special niche in the digital landscape and the marketing it requires is equally unique. Decision-makers aren’t your typical business owners. Your brand will need to reach those making executive-level decisions. 

At Fintech Digital, we deliver the marketing tools you need to reach the right decision-makers using the terminology they understand. 

We research, plan, and implement the best-in-class marketing tech integration. We scale with you and will work seamlessly with your current tech stack and legacy systems. 

Take your social media marketing to the next level with Fintech Digital. 

Learn how FinTech Digital can help with your social media marketing. Check out our services page.

Excellent search engine optimization gives you an edge over competitors, yet the reality is that SEO is an ongoing process. You're never completely free of the need to measure and refine strategies, especially in the financial space where the bar is higher.

But what are the most critical updates to fintech SEO in 2023? Google made a substantial change to its algorithm, and your website's traffic will depend on how well you adjust SEO to the updated E-E-A-T search quality guidelines.

Here’s a rundown of this year’s fintech SEO trends to boost traffic, support business growth, and satisfy Google’s latest recommendations.

YMYL Remains Vital to Fintech SEO

“Your money or your life” websites have strict quality standards, so fintech SEO must still coincide with the YMYL classification. Indeed, Google and other search engines have not lowered the bar for YMYL content. If anything, search engine algorithms in 2023 have made it harder to rank for high-value, highly competitive keywords.

You must adjust to this new reality to maintain rankings, or your site will lose traffic to companies that revamp their approach. SEO and YMYL go hand-in-hand, but as this year progresses, expect the two concepts to take more priority now that Google has updated its guidelines.

Nevertheless, the rise of AI-generated content makes the task more challenging while maintaining current marketing spend.

Generative AI Remains Highly Risky

Should you use AI content or avoid it altogether? Marketers in the fintech space stand at a crossroads. On one side, you have the AI path where the possibilities seem endless, or you can take the human approach and forgo AI-generated content.

The choice isn’t technological. It’s an ethical decision.

Is using AI going too far with technology? Companies are struggling to choose which route is best. Still, the YMYL requirements make using AI highly risky for fintech SEO. If search algorithms (eventually) consider AI content detrimental to the reader, websites that leverage AI will falter.

Currently, Google doesn’t outright penalize AI-generated content though the new E-E-A-T guidelines discourage it by implication. Approach AI with caution in 2023.

Experience Counts More Than Ever

The E-A-T acronym has been a standard mantra for SEO pros, so why did Google add another dimension? The change could foreshadow more dramatic updates later this year.

The “new E” stands for experience, as in first-hand experiences, distinct from expertise and authority. AI software can't relate real-world subject matter to personal experiences – and it never will.

So, adding human experiences to SEO strategies can meet the stricter YMYL requirements. Your challenge will be determining which experiences impact page rankings most and which better serve the reader's needs. There's no precise formula for adding human experiences to any SEO strategy.

Book a Call to Learn More About Fintech

If you want to stay ahead in 2023, consider the latest changes to Google’s algorithm and how your company will adapt. Your fintech SEO strategy is crucial for maintaining your position in search engines.