April 25, 2023
At Growth Gorilla, we started the year on a high note, with Shameer joining Rudolf Falat's Voice of FinTech podcast.
The Voice of FinTech podcast has been inspiring entrepreneurs worldwide to launch new ventures. Shameer and Rudolf chat about how to grow your FinTech with modern marketing tools.
Here are nine things they touched on:
Shameer has a background in financial services and worked as an equity broker for many years before he joined the marketing department of a well-known financial trading platform as a marketing director.
In 2017 he set up a digital marketing agency called Growth Gorilla, and we've been helping FinTechs build growth ever since.
There's no magic to it— it all boils down to having a robust tracking setup and looking at your data. If you're not tracking what visitors are doing on your website, where they coming from and what value they’re bringing to your company, you're spending money blindly.
And then, you need to look at who your target customers are and where you can find them when they have the highest buying intent. A great way to look at user intent is what our client, Cal Graham from Wayhome, calls “the marketing onion” — as you get to the core, that's where your highest intent users are — so start from there, and work your way out. That's how your budget should be distributed as well.
Marketing strategies and campaigns don't always work. To determine what works and what doesn't, you need to set up success metrics. And then:
Want to find out more? Download our guide '5 Badass Growth Strategies Every Fintech Founder Needs To Know'
Creating a brand on a budget boils down to being clear on who your target customer is. Once you know that, focus on becoming the go-to provider for that particular audience. That’s what one of our clients did — and how they got their next round of funding.
When you know your audience and their intent and align that with a clear value proposition, you can stretch your budget and look into how to distribute it strategically over what channels.
Short answer: do both.
If you're wondering whether you should acquire customers directly or partner up with another brand, we think you need to do both. Partnerships are not as easy as they sound on paper — to secure them, you still need a reliable B2C brand. Otherwise, you're not creating that trust factor.
Yes, 100%, and it doesn't necessarily need to be the world's biggest website. Think about your buying journey — you have been recommended an app, what's the first thing you do? You Google it or take a look in the app store. You look for what the product does, who is it for, and what it cost, does it have reviews, testimonials, and social proof to make you feel comfortable with signing up.
Website protects your narrative and gives you credibility. If you're a b2b that sent us an inquiry, we'll first want to check you out. If we get an inquiry from a brand that doesn't have a website, we're likely not going to engage with it.
Depends on your target audience, budget, payback period and how quickly you need to monetize.
If you need to get ROI as quickly as possible, get people into your funnel and utilise your platform as soon as possible, paid channels are your answer. Try Meta, LinkedIn, TikTok and Google search ads.
As you move further along the journey, you can look to invest in things like SEO because that takes a lot more time, and you probably won’t see immediate conversions from that investment.
It also depends on your business' lifecycle—if you're early on, you need to decide whether or not you want to put your money into driving brand awareness or focus on direct marketing.
To turn likes into sales, first, you need to turn likes into engagement, then to community advocates and front here you can turn those engaged members into actual users. The way you do it is by focusing on demand generation, creating brand awareness, putting the right content out and becoming front of mind. And then, when your audience is looking for your product, you capture them on intent.
The best example of driving conversions the right way in the FinTech space is Monzo. They post relevant content, engage with their audience and end up top of mind. From there, they use paid media, PR and influencer marketing to take leads from consideration into the conversion stage.
We don't have favourites, but let’s look at two different ones based on their offering.
Wayhome has a very interesting USP — a gradual homeownership product disrupting the mortgage market. We've worked together from launching their first campaign to getting their A series.
As a client, they're data lead and always willing to test something new, which makes them great to work with. Read more about How We Helped Wayhome Increase Sign-ups With Localised Targeting.
Change is a crypto trading platform. Crypto is notoriously hard to market because of regulatory restrictions, but their CMO, Olga, is fantastic to work with. Read more about How We Helped Change Invest Expand Into 25 New Territories by managing the right channels for the right locations with the right message.
Listen to the full podcast episode here.
At Growth Gorilla, we only do fintech. We create and execute strategies to help fintechs go to market, grow, and master market entry. Our team of experts has already helped grow over 30 fintechs. When you come with us, there’s no confusion or wasted time. You stay flexible, slash acquisition costs, and stop worrying about what to do next.
Get in touch today to see how we can help you grow your fintech.
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