10 Proven Lead Generation Strategies For Fintech Businesses
There is a lot of competition in the emerging Fintech industry. From mobile payments, cryptocurrencies, and mobile payments, lead generation strategies are needed for Fintech, now more than ever.
Fintech startups, insurance companies, and financial institutions will face increased competition as they expand their operations. An emerging industry like Fintech can make it a challenge to generate leads.
The evolving market requires businesses to generate leads to compete. What best ways to attract and engage hot leads in Fintech companies in 2023?
This blog will highlight some effective methods of generating leads and ensuring a constant flow of qualified leads for Fintech businesses. You will learn how to attract visitors to your site and convert them into buyers.
Let’s get started.
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What Is A ‘Lead’?
The term "lead" refers to any individual interested in the products or services offered by a company.
Businesses or organizations typically contact leads after they submit personal contact information (for offers, trials, or subscriptions) rather than cold calling them randomly.
As an example, let us assume you complete an online survey to learn more about how to take care of your car. Soon after, you receive an email from the auto company that created the study, offering help in keeping your car in good condition.
In contrast, this process would seem far less intrusive if they just called out of the blue without knowing if you even care about car maintenance. Leads experience this kind of thing.
In addition, from a business standpoint, the information your survey responses provide auto companies allows them to personalize the opening message to address your specific needs - rather than waste time calling non-interested leads.
When consumers transform from site visitors to customers, leads become part of their broader lifecycle. There is no such thing as a perfect lead. You can qualify a lead in various ways and at different sales cycle stages.
What Is Lead Generation & Why Do You Need It?
Lead generation is about attracting prospects to your business and nurturing them into customers based on their interest in it. Online content distribution, posting job applications, blogging, offering coupons, white papers, hosting live events, and blogging are all methods for generating leads.
With the help of these lead generation strategies, you can attract potential customers and direct them to your offers. Lead generation is a way to get potential customers to warm up to your business and ultimately purchase your product or service.
It is much easier to transition from stranger to customer when a stranger shows organic interest in your business. Lead generation should be a part of your inbound marketing strategy. Your sales team converts visitors into leads after attracting an audience (sales-qualified leads) before you're ready to sell.
The goal of link building is to create links, much like the goal of marketing is to generate sales. Marketing and link-building are both influenced by the final goal, but focusing on that goal is just as limiting. Therefore, link building and lead generation are not unrelated. An individual's journey to becoming a delighted customer begins with generating leads.
What Is The Importance Of Fintech Lead Generation?
A CAGR of 20.5% is expected to be achieved in the finance sector by the end of 2030, with an expected global value of USD 699.50 billion.
Market upheavals are a common characteristic of Fintech. Over 70% of mainstream financial companies plan to enhance their partnerships with Fintech companies in the coming years.
There is no doubt that the Fintech domain will be more competitive than ever, based on all of these statistics and figures. Hence, you should have an effective lead generation strategy if you have a Fintech business or are considering entering the Fintech field. You should also consider investing in RCM software to improve your revenue cycle.
To target relevant and engaging content to your ideal customer profile, you need a steady flow of hot leads. Ideally, your target audience consists of your excellent prospects. A perfect target audience for Fintech companies would be people with problems or pain points that your financial services can solve.
Lead generation is the number one challenge for 61% of lead generation experts. Getting qualified leads and successfully closing them (sales) requires great patience and skills.
To reach the most suitable audience for your product or service, you have to engage hot Fintech leads. As a result, you can boost your ROI through these high-potential leads by skyrocketing your conversion rate.
10 Proven Strategies To Increase Your Fintech Leads Using Lead Magnets
1. Search Engine Optimization – SEO
Most experts believe you can dramatically scale your lead generation efforts with a robust SEO strategy.
Your Fintech company's prospects can find you through search engines with a successful SEO strategy. SEO involves optimizing your website for relevant keywords and phrases in your niche to rank among the top Google search results.
You attract qualified Fintech leads by setting up a successful SEO strategy using search terms relevant to your products and services.
There are many SEO lead generation tools for keyword research, backlinks, and other SEO strategies, and 34% of lead generation experts rely on Google Analytics as an effective SEO lead generation platform.
By improving your SEO, you can enhance your Fintech lead generation strategy. Afterward, analyze the SERPs for your selected keywords to determine which topics are the most relevant and heated
You can turn Fintech lead generation efforts into positive results by optimizing your landing pages with the right content, keywords, and call-to-actions.
For instance, a website for best dividends needs useful stock information. If you’re asking customers to provide details, your value offering should exceed their expectations. If the visitors find what you’re offering (lead magnet) attractive and useful, generating leads won’t be an issue.
2. Event-Based Approach To Lead Generation For Fintech
As a result of the Coronavirus, in-person events may no longer be possible, but you should consider online events, virtual conferences, and webinars to generate leads for Fintech. There is often no value for money in traditional events because they are time-consuming, costly, and take up a lot of resources.
Attending significant industry events can be risky unless your company is well-known or you have deep pockets. When you develop an effective process for maximizing their value, webinars are an excellent source of Fintech lead generation, provide a good return on investment, and can be quick and easy to organize.
B2B marketers recognize the value of digital marketing and always try to get new leads or follow up/retarget previous ones. These lead generation tactics are good enough to provide lead gen and turn prospects into paying customers.
In addition to building your digital presence and showcasing your expertise, webinars can assist you in moving leads further down the sales funnel and into nurturing processes.
Further, you can also utilize mobile marketing as a post-lead generation strategy. Send targeted ads and messages to your quality leads to increase sales and improve overall performance.
3. Utilizing Video Content
Especially for Fintech companies and product-based businesses, video has become an integral part of a marketer's toolkit. You can use videos to showcase your product and service's value in various ways.
For Fintech lead generation, you can use video in the following ways:
- How-to videos
- Explainer videos
- Webinar recordings
- Educational content
- Case studies/testimonials
- Regular thought-leadership series
Videos are compelling for conveying messages. A video message is retained 95% of the time versus a text message retained 10%.
Take selling affordable flight deals as an example, you can use videos to provide a fresh angle for viewers. It will help customers decide whether they want to purchase your product or services. You can show viewers how buying cheap flight tickets from you might be the best deal they could ever get. With videos, it’s easier to grab viewers’ attention - make it count.
4. Thought Leadership
Becoming a thought leader in your field is becoming increasingly important in today's world. Particularly for high-value products or software as a service. Gaining customer trust and building authority can facilitate decision-making by establishing your brand as a thought leader.
Partner with peers, industry leaders, and partners within your business to take advantage of the expertise within your organization. Increasing your brand's presence by publishing insightful articles, guest blogs, or industry reports can help you win the trust of your target audience.
Lead generation through social media strategy is also advantageous for Fintech brands. Be active on various social media platforms and engage in social media conversations to find quality prospects.
Social media marketing is, without a doubt, an essential strategy to use if you’re looking for lead capture. You can devise a lead scoring system based on various metrics to determine which leads are easy to convert.
You can succeed in generation marketing by focusing solely on marketing tools, website aesthetics, and ease of use (chatbots, pop-ups, and multiple CTA on the homepage).
Marketing automation can help you target the type of lead you want, and your marketing efforts won’t fail. Getting customers to opt-in to share their information is an important job to improve your email list. Make sure you don’t fail at it.
5. Trust Factors
The Financial Services industry places a great deal of emphasis on trust. Leads are more likely to move down the sales funnel if your website and marketing content include trust factors.
We mentioned how thought leadership could build trust. Here are some other trust factors:
- Customer reviews
- Free trials or samples
- Case studies and use cases
- Interactive content, such as calculators
- Testimonial quotes and video testimonials
- Trust plays an essential role in the decision-making process regarding purchasing financial products and services
While not a Fintech company, this lingerie brand perfectly exemplifies how a trust factor, in this case, customer reviews boosts confidence in potential customers on an offer page. Below each offer is a virtual peer confirming the quality of the product, helping customers decide whether to purchase or not.
If you’re offering word mind teaser applications that people can play with their friends, the best way to gain trust would be to get customer reviews. Honest reviews are helpful for prospects as well. The big difference between testimonials and reviews is that the latter is informal. Both of these are helpful when it comes to helping customers.
6. Provide Informational Content
As mentioned earlier, it can be challenging to explain Fintech services to everyone. Additionally, buyers constantly seek new and informative content to help them make the best decisions. Using direct mail, Fintech companies can break complex information into understandable chunks.
As well as helping them achieve specific related goals, they can offer their services. This will allow buyers to make the right decision and be more aware of what to do next.
It is the validity of the message that separates useful from junk mail. Be careful not to mislead your audience or make false claims to increase responses. Your direct mail items can be most effective if you include informational content that resonates with your audience and helps them understand things clearly.
Marketers can also send prospects to the FAQs page on your website via personalized landing pages in their direct mail that answer their questions. Regardless, make sure your content provides value. Show your prospects how your services can solve their problems by highlighting their service benefits.
Make your policies and terms transparent. Including all the links needed to explain your working procedures, operations, terms and conditions, and ways to use them might be helpful.
7. Using Your Data To Steer FinTech Lead Generation Campaigns
Develop lead generation campaigns and optimize your content, landing pages, CTAs, and email workflows based on the data and insights you gain from your research, CRM, and analytics platforms.
Having insight into your users is one of your most essential tools. To generate high-quality leads in the Fintech space, a website must address and solve the needs of its users. A PPC campaign and paid social activity incorporating these insights will also help you achieve the most significant ROI.
You can use different online business tools which are readily available to add more authenticity to your lead generation process. Further, you can have better data analysis to improve lead generation campaigns. You can check the quality of leads with the help of useful metrics thus, ensuring that your efforts are resulting in leads that have the potential to convert down the line.
8. Segmentation And Personalization
For Fintech lead generation and nurturing, it is crucial to tailor content and communications to each individual. Adding relevance to subject lines and landing pages enhances engagement, whether you're segmenting your database for email marketing campaigns. Personalization is considered to be one of the most critical factors for business success by 94% of companies.
Information should be offered to the right people at the right time in the right way. Segmentation and personalization can achieve a shorter sales cycle and more straightforward decision-making. The content you display on your website depends on various criteria, including the type of persona, the location, the stage of the life cycle, and the actions taken.
Think about it. Without proper segmentation and personalization, a market-specific brand like a kid’s face mask company will mistakenly sell to kids and teenagers rather than to parents who have children in this age group. While the usage is for kids, the purchasing power is with the parents. Hence, having segmentation will lead to more conversion-generating efforts.
Ensure you segment properly to provide content to your leads that are tailored to their specific needs.
9. Stepping Up Your Website Optimization
The most cost-effective way to generate Fintech leads is to organically drive them to your website. Organic leads found through your crucial content will usually be high quality (if you optimize/user-focus your content) since they seek solutions.
SEO strategy is closely linked to lead generation. Analyze keyword gaps and map your content to target key phrases regularly to monitor your SEO performance and keyword ranking. You should search for relevant keywords online or by voice to ensure that your personas (ideal customers) find your key content and website pages.
To drive organic leads, companies are increasingly creating content pillars and developing topic clusters around these pillars. For example, if you’re selling food-related products, you might want to start an affiliate program for food influencers to improve your sales further. Influencers provide access to a new customer base which is too good to miss out on.
10. LinkedIn Ads And Account-Based Marketing (ABM)
Banks, financial institutions, and Fintech companies increasingly use account-based marketing to generate leads. The campaign primarily aims to attract and nurture key decision-makers within target accounts through a B2B lead generation approach.
The purchasing process for B2B products and services typically involves 6.8 decision-makers on average. Your sales team must create custom approaches for ABM, which involves a deeper level of lead nurturing.
With LinkedIn, marketers have access to various paid advertising and lead generation tools to communicate with and engage their key personas, especially in the B2B sector. Fintech brands can run cost-effective paid campaigns using LinkedIn Ads and HubSpot automation workflows.
The speed and responsiveness of your site should be a top priority. Sites that are slow to load can put potential customers off. You can generate leads or lose visitors with a few seconds' delay or a broken page.
Ensure the CTAs on your website are prominent, and all glitches have been resolved. The last thing you want is to lose people at the last hurdle after working hard to get them to your site in the first place.
You will see a better return on investment for your lead generation strategies if you craft a robust Fintech lead generation strategy.
Targeting your specific niche is essential to avoid competing with the entire Fintech sector. As a result, your leads will be more qualified, increasing their conversion rate. Check out our blog for more interesting business content.
Burkhard Berger is the founder of Novum™. Follow Burkhard on his journey from $0 to $100,000 per month. He's sharing everything he learned in his income reports on Novum™ so you can pick up on his mistakes and wins.
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