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Fintech Performance Marketing: Everything You Need To Know

Fintech Performance Marketing: Everything You Need To Know

PPC

Shameer joined Mohammad Reza Nabizadeh and Araminta Robertson for an Office Hours Q&A event packed with pro performance marketing tips for fintechs. They talked about:

  • How to build a paid acquisition strategy—key areas to consider
  • How to create a social media ad that performs
  • Where should you send traffic
  • What performance marketing channels should fintechs consider
  • How to keep your fintech business compliant

Check out the key takeaways:

What are the key areas to consider when building a paid acquisition strategy?

Find the right balance between your budget and messaging for low intent and high intent channels.

💡Pro Tip #1: Start by understanding your budget—it will dictate the number of channels you can use. 

💡Pro Tip #2: Nail down your target audience and understand their intent: is the user actively searching for your solution or not? From there, you can narrow down the channels you can use to get in front of each of those audiences. 

💡Pro Tip #3: If your audience is high intent, start adding Google search into the mix. If there's low intent, begin with social platforms like Facebook and add others.

💡Pro Tip #4: Again, it all comes down to budget—if you don't have a big budget, you're better off targeting a smaller audience with better targeting capability rather than a broad audience with poor targeting capability.

How to create a social media ad that performs?

There's always this big need to do some big crazy like animated ads and GIFs—which are time-consuming. A good place to start is static ads. At Growth Gorilla, we do two types of static ads:

  1. Brand message ad, promoting who you are, written from a problem-solution angle, with a Learn More call to action. 
  2. Product-focused ad that highlights the features of your product/service and invites people to download the app. 

💡Pro Tip #1: In terms of visuals, bright colours stand out. Recently we had to kill off some black ads for one of our clients and swap them out for some lime green background, which improved immediately. 

💡Pro Tip #2: Keep headlines snappy, don't be wishy washy and don't get too creative with your message. We're not trying to win the best creative award here; we're trying to get the right message to our audience as quickly as possible. Your audience has to understand what you want to do from the early stages. Make sure you do AB testing across different variations. 

💡Pro Tip #3: Once you've got a baseline, you can start investing in more exciting ad versions—GIFs, 2d animations—that sort of stuff.

Where should you send traffic? 

Let's first talk about B2C audiences. If your product is B2C, there are two places to send your traffic:

#1. App store

Whether you've got an app or are app-only, the most cost-efficient places to drive traffic are App store and Google store.

💡Pro Tip: Keep your app store page optimised. Make sure the images are in line with the ad. Add loads and loads of social proof and a video, and make sure reviews look good and the page is presentable. 

#2. Landing page

Group up your ad types and then send them to specific landing pages. 

💡Pro Tip #1: Don's send your traffic to a home page because your home page is already asking your users to do other things. With a landing page, you ensure they're focused on doing one thing. 

💡Pro Tip #2: We've found great traction using QR codes for desktop landing pages and as a way to drive users into the App Store. Plus, you can track conversions coming in from the landing page. We've even put it on banners and it worked good. It's worth testing.

What performance marketing channels should fintechs consider?

Apart from the classics Google and Meta, there's Snapchat, Twitter, LinkedIn, Pinterest, Spotify, and some are cheap. If you're targeting Gen Z, it's the perfect platform.

We also need to mention influencer channels, a fancy term for affiliate marketing. We think it's going to be massive. Micro influencers are not charging as much as macro influencers, they've got a direct reach, so there's a big opportunity. 

The other performance channel is TV on-demand—an excellent way to get in front of your target audience or reasonable and medium-sized budgets, based on location, interests, net worth, etc.

💡Pro Tip: Native ads are working best on TikTok. 

How to keep your fintech business compliant?

The biggest compliance considerations are for investment platforms, including crypto.

☞ To advertise on Facebook, you have to be regulated by one of their approved regulators. 

☞ On Google, technically, you're not supposed to advertise crypto—except for US and Japan. Outside of that, Google doesn't regulate it, so it's a bit of a grey area. 

☞ On Twitter, you need to send your FCM registrations; they don't ask for it upfront. So make sure you have it on hand; otherwise, they will just switch off your account. We have been in scenarios where the client didn't have it, and we've gone offline for a couple of weeks. 

💡Pro Tip #1: Give them the information they need and avoid going back and forth and wasting time. Usually, once they send the contract and agreement through, our fintech clients get authorised within 24 hours. 

💡Pro Tip #2: Consider settings within your performance activity, such as user location. You don't want to end up serving ads to a user from a location or area where you're not regulated—it could get you in trouble.

💡Pro Tip #3: Make your FCA disclaimers clear and not misleading. Use the smallest font to show them everywhere you need to, and keep them tidy. 

💡Pro Tip #4: Facebook and Google will ban your ads if your customer journey looks dodgy. 

💡Pro Tip #5: Don't use clickbait — don't say you sell CFDs and promote crypto. If you end up in Facebook or Google's naughty book, it can be challenging to get out of it. 

That's it, folks. These are the leading performance marketing tips and tricks from Growth Gorilla's own Managing Director Shameer Sachdev. In the ​last 30 minutes, he answered burning questions from the audience so if you want to find out more make sure you listen to the entire session hosted by The Fintech Marketing Hub here.

If you want to find out how Growth Gorilla can help you to achieve your performance marketing growth goals, why not get in touch with our team of fintech marketing experts today.

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