May 6, 2019
Financial technology, FinTech for short, blend the use of technology to make financial activities easy to manage. When you handle the marketing for a company of this nature, it can be difficult to reach all generations.
Millennials, college students, and teens may have a better understanding of online banking apps and services than an aging adult. You don’t want to lose out to the older adults who have been customers for decades. Marketing has to be planned so that it targets the needs and interests of each generation. It’s not always easy to do.
How do you market a FinTech product to the different age groups? When financial technology is confusing or doesn’t really showcase the benefits, you could drive potential customers away. This is where experiential marketing techniques help. Through different techniques, you show what you have to offer rather than simply try to tell it through a quick ad.
Build a Strong Brand
Your design has to grab attention. To do this, you need to pinpoint exactly who you want as customers. Look at your competitors and pick out what you think they do right and what they do wrong. Use that information to hone in on what you want to do in your own branding.
Once you have those ideas, work on your logo and tagline or motto. Build a strong website move on to the ways you’ll get information into the hands of the consumers you’re hoping to work with.
Make Sure Your Information is Valuable
Did you know that 66% of people between the ages of 18 and 29 are intimidated by investing in stocks? In the 30 to 39 group, the number is similar at 65%. Those between the ages of 40 to 54 aren’t much lower at 58%. Finally, 57% of adults 55 or older find it intimidating.
In order to reach these different age groups, you need to make sure they understand your product or service and know its benefits. Target those benefits to their lifestyle, habits, and needs. Experiential marketing makes it easy to get the point across by helping them experience how you can simplify or improve their life.
In the U.S., an average of 6 out of 10 households have a video gaming device. PCs, smartphones, and video game consoles are the most popular ways to play games. Sixty percent of the entire population play games each day.
When it comes to an experiential marketing campaign, games are one of the best ways to go. You may associate gaming with the youth. That’s not the case. The average age of a gamer is 36 for women and 32 for men. If you look at the age groups, the percentages from the Entertainment Software Association are surprising.
- 17 or younger – 28%
- 18 to 35 – 29%
- 36 to 49 – 20%
- 50 or older – 23%
As each age group is pretty even, a game that markets your product or service reaches a wide range. Shooters and action games are the most popular, but casual games are also up there.
Make a Connection
How do you connect with your customers? Do you have a blog? Are you on different social media platforms? Here’s one reason you should be on social media. The social media management software Hootsuite reported that 40% of Twitter users admit they purchased or used a product after reading an influencer’s tweet. If you can get a minor celebrity to recommend your product or service on Twitter, you could greatly increase business.
Consumers want to be connected. Reading blogs and social media posts and being able to ask questions is important to them. You need to create content that has value on a regular basis. Research the best times to post. Your consumers likely have habits where they read social media posts at a specific time of day. It might be during breakfast, after work, or before bed. Find out when and try to make your posts at that same time each day or a specific day of the week.
The other thing to consider is your response. Are you ignoring your consumers? Is someone monitoring emails, blog responses, and social media comments each day? You have to respond to keep holding their interest. Remember they may not always have positive things to say. Don’t become demeaning. Address criticism in a polite, tactful manner.
Use Feedback to Your Advantage
As you get results and feedback regarding your campaign, be ready to change things that consumers haven’t enjoyed. If you built a game as part of your experiential marketing campaign and the game is glitching on certain devices, find out why and get it fixed.
Talk to Factory 360 about the ideas you have for your FinTech company’s marketing plan. We can take your insight and strategize ways to create a stellar experiential marketing plan. From there, we can deliver a campaign with tremendous reach using popular strategies like mobile tours and social media integration. Call 212-242-2417 to discuss your ideas.