In the fast-paced world of fintech, social media wields tremendous influence. It’s where companies make their moves to capture attention, build trust and create a lasting impression. And with a staggering 4.9 billion active users across global social platforms, the potential for connecting with audiences is limitless.
So here’s the big question: in this sea of opportunities for engaging with customers on social channels, how do you find them and more importantly, how do you get them buzzing with excitement about your brand?
Well, we've got you covered. Our expert guide is a hands-on approach that'll walk you through the ins and outs of social media marketing. We'll help you craft the perfect strategy, choose the right channels and create genuine connections with your customers. Along the way, we’ll also share some killer tips and draw inspiration from fintech leaders who are crushing it on social media.
Let’s get started.
What is Fintech Social Media Marketing?
Fintech social media marketing is when fintech companies use social media to connect with their audience, boost their brand presence and build stronger customer relationships. They jump onto platforms like Facebook, Twitter (X), Instagram and LinkedIn to spread the word about their fintech products and services making their brand seem more friendly and approachable. They might post content or run ads to help their audience better understand their products and make their brand more relatable. It's a chance to show why their fintech solutions are great and how they can make their audience’s lives easier.
But it's not just about business; it's also building rapport. The main aim of social media marketing is to build trust and stay on the radar of potential customers so that when they encounter a problem you can solve, they naturally think of reaching out to you for help.
Many people perceive fintech as somewhat 'dull,' but there's no need for it to be that way. Social media marketing offers the perfect opportunity to show off a bit of brand personality and to make the finance world more accessible and engaging for customers.
Why Is Fintech Social Media Marketing So Important?
Strong social media marketing is crucial for fintech startups. Why? Well first off, it's budget-friendly. Social media can help you stand out amongst the big shots without breaking the bank. It also helps humanise fintech brands. Putting a human face to their services, reassures current and potential customers that your brand is run by real people. It’s a way of saying, "Hey, we're here to help you, and we've got your back." In the world of fintech, which is filled with financial jargon and security concerns, this is critical.
Social media marketing is a valuable resource for finding and keeping customers. You can chat with them, make improvements based on their feedback and adapt your brand to the ever-changing fintech scene. If you're a fintech startup, nailing your social media game is a must for growing and thriving.
Tips to create a fintech social media marketing strategy
Let's kick off your social media marketing journey with some handy tips:
Set Goals and Targets
Creating goals and setting targets allows you to build a clear roadmap, showing you where to go and what to do. When you set goals, you’re setting your destination. Think of it like planning a trip — you wouldn't set off for a new destination without a map or GPS and social media is no different. To be successful you have to have the right goals and targets in place, alongside knowing exactly how you are going to get there. But your goals can vary. Maybe your goal is to increase brand awareness and reach a broader audience, drive website traffic or boost sales and revenue. Whatever your goal is, it should tie back to your overarching business goals.
Setting goals also allows you to track your progress and tweak your strategy if needed. Goals keep you on the right path, ensuring you're not wasting time and effort. Plus, they give you that extra push to stay consistent and accountable, turning social media into a powerhouse for business growth.
Related: Fintech Marketing Decoded: The Ultimate Guide with Examples
Keep an Eye On The Competition
Competitor analysis is a vital part of any successful social media marketing strategy. By keeping an eye on what your rivals are up to, you'll uncover the secrets of success in your industry. You'll see what content hits the mark and what flops, when your competitors are most active and who they're talking to. This intel helps you fine-tune your own strategy. It also sets realistic expectations and goals. Most importantly, it helps you stand out from the crowd. If you know what your competitors offer, you can make sure your company offers something different and unique to your audience. It's also handy to pick a key competitor and directly position yourself against them to compare your strategy, content and engagement.
Find Your Ideal Customer
Finding your target audience is not just important; it's critical. You've got to know who you're talking to. Their age, what they love, and what annoys them - all of this should inform your content and your strategy. This information helps you customise your content so it resonates with your audience. It's like talking to them in their language, and they'll appreciate that. Whether it's getting the tone right, solving their specific problems or posting on platforms they regularly visit. Knowing your audience is your foundation for success. It makes your social media efforts stand out and can help build a genuine connection with customers.
Related: Fintech Content Marketing Expert Guide & Examples
Regularly Review
Regular reviews of your social media marketing efforts are a must in the ever-changing digital landscape. When you dive into the numbers and crunch the data, you're like a detective figuring out what's hitting the mark and what needs tweaking. Social media check-ins keep you agile, helping you jump on new trends and adapt to how your audience behaves. By consistently reviewing what content performs the best, you’ll know the areas where you can improve your content and increase engagement.
4 Fintech Companies That Are Doing Social Media Marketing Right
To see great social media marketing strategies in action, let's take a peek at what the fintech pros are up to:
Monzo
Monzo's social media strategy is impressive. It’s successfully shaken off that cold, corporate vibe that you often see with fintech brands on social media and has gone for a more fun and playful approach. And guess what? It's made the brand super popular, especially amongst the Gen Z crowd.
The brand’s tone of voice is friendly and approachable, mirroring its culture and values. When it comes to content, it’s best in class and consistent – ranging from digestible company and product updates to entertaining memes and super handy financial management tips. But it's not just about posting, Monzo is all about the quick chat. Monzo responds to customers in a flash, addressing questions, concerns and feedback.
Monzo is also a platform pro, leveraging its unique features to connect with its audience in diverse and captivating ways. From LinkedIn, Facebook, and Instagram, to Twitter (X) and TikTok. Making sure, they are consistently staying top of mind with their audience.
Klarna
Klarna’s social media marketing is on point, and here's what makes it tick. From company and product updates to awareness days, financial tips and more, Klarna ensures everything it posts is high quality and engaging.
Consistency is Klarna’s middle name. It posts regularly, ensuring its feeds are always buzzing and keeping its brand on the audience's radar. But what sets Klarna’s apart is how it engages with its audience. It's not just one-way communication; it's about actively listening, responding to, and interacting with followers.
But Klarna doesn’t just post content consistently, it also keeps its brand voice clear and harmonious across all social media platforms. Now, we all know that when it comes to content, it’s not one-size-fits-all. What works on TikTok won’t necessarily work on LinkedIn, and Klarna understands this better than anyone. It knows how to adapt its content and brand voice to each social media platform's unique features, serving up its message in different and engaging ways.
Paddle
Paddle, the B2B payments provider, has a social media strategy that's all about speaking business. It’s got a mix of content, from conference and business updates to promoting its Protect the Hustle podcast series, and it doesn’t stop there. The brand is throwing in some slick infographics and eye-catching images.
When it comes to tone of voice, Paddle has nailed a tone of voice that is dynamic, professional and contemporary. It's a perfect match for its cool, business-savvy audience. And it isn’t scattering its efforts; the brand is laser-focused on LinkedIn and Twitter (X). Paddle knows how to stand out from the competition and where its audience spends time online. That’s why it’s doubling down on those social media channels.
Wise
Wise’s social media content is high-quality and super engaging, striking a chord with its target audience. Consistent posting and regular engagement means it’s not a one-sided affair. Instead of talking at its followers, the brand interacts with them in two-way communications. Content ranges from company and product updates to useful tips and fun insights centred around a variety of topics from Halloween to money management.
Wise’s brand voice is dynamic, playful and full of enthusiasm. It’s also not a one-trick pony when it comes to platforms. It knows how to use each one's distinctive features to connect with the audience in a variety of ways.
The benefits of social media marketing for fintech
It’s clear that by investing in social media marketing, these fintech companies have established a strong presence on social platforms. This achievement is the result of their consistent efforts in sharing captivating content. Now, let’s dive into the benefits of investing in social media marketing for fintech:
Reach New Audiences
Social media acts as a virtual megaphone, allowing you to shout your message from the digital rooftops and reach new audiences. With the power of social platforms, great social media marketing can expand your brand's reach. From targeted ads to sharing content, you can catch the eye of potential customers who might not have found you otherwise. So, if you want to tap into fresh markets and broaden your horizons, social media is a must, helping you cast a wider net and make new connections.
Build Trust and Loyalty
Great social media marketing isn't just about flash and pizzazz; it's about building trust and loyalty. It gives you a platform to showcase your brand's authenticity and personality. When you share valuable content, promptly respond to queries, and actively engage with your audience, you're creating a bond that goes beyond sales. Trust increases and loyalty deepens, and that's the power of social media done right. And if you still don’t buy it, well 94% of business leaders do.
Gain Audience Insights and Understand Your Customer
Now, social media marketing isn't just about posting cat memes or flashy ads – it's a valuable resource for understanding your audience. 91% of business leaders vouch for it. By analysing social data, you can uncover what your audience likes, dislikes, and what keeps them up at night. It gives you a peek into their minds. This knowledge helps you tailor your content, products, and services to meet their needs, positioning you as their go-to problem solver.
Inject Personality into Your Brand
Social media marketing is the ultimate tool for giving your brand a human touch. It puts a face to a brand name. Through storytelling, sharing behind-the-scenes glimpses, and responding to comments and messages, you create and maintain a personality for your brand. Customers see the people behind the logo, and your brand becomes more relatable and trustworthy. Social media is the place where your brand can express emotions, humour and empathy, making it less corporate and more authentic. So, if you want your brand to feel approachable and real, social media can add the human touch your business needs.
Related: Fintech Branding: The Actionable Guide & Examples
What Are The Best Platforms for Fintech Social Media Marketing?
To reach your customers, go where they hang out online. Use the social media platforms they love to make sure your message reaches them where they're most active and interested. And remember, this will be different for each brand. Your audience may even be LinkedIn, Twitter (X) or even TikTok, but you know better than us. So, let’s take a quick look at a few of the best platforms:
LinkedIn is a B2B fintech star because it's where the pros hang out. You'll find decision-makers and industry experts by the dozen. Sharing your insights and building connections can kick open the door to partnerships, collaborations and some serious fintech opportunities. LinkedIn is also not oversaturated with businesses, which makes it a great place to be. Plus, lots of founders use it to build their personal brand and create more attention for their company.
If you're a B2C fintech startup, Facebook is a prime playground. It’s the most used social media platform with 2.9 million monthly active users across the world. Facebook is where the crowd gathers. With its vast and varied users, it's perfect for reaching all kinds of potential customers. Plus, Facebook's ad tools let you pinpoint your audience, so you're not just casting a wide net but hooking the right customers for your fintech solutions. It’s also connected to Instagram, which lets you expand your ad reach even further.
Twitter (X)
Twitter, a true all-rounder, works wonders for both B2B and B2C fintech startups. The platform's fast-paced and concise nature appeals to a broad audience, making it a versatile choice. For B2B fintech startups, Twitter is a bustling hub where professionals exchange insights, build vital networks, and stay in the loop about industry trends. It's a credibility booster.
For B2C fintech companies, Twitter is a great spot for real-time interactions and virality potential, helping them reach a wider audience and engage with customers effectively. With targeted ads and the ability to join trending conversations, Twitter provides extensive engagement opportunities for all fintech companies. But, ever since it changed hands, it’s been slightly less reliable. So, if you're not already using it, you might want to hold off investing in it for now.
Why you should use Passionfruit to improve your Social Media Marketing efforts
Passionfruit can supercharge your social media marketing efforts. Our social media specialists are seasoned pros. They know the ins and outs of social media marketing like the back of their hands. Our specialists can create content that gets people talking, share eye-catching visuals and make data-driven moves that boost your reach. Passionfruit specialists also offer cost-effective solutions and adapt on the fly, helping you compete with the big players. Their knack for understanding algorithms, trends, and your audience guarantees your social media campaigns aren't just seen, but make a big impact.
Conclusion
In the dynamic fintech ecosystem, the role of social media marketing cannot be underestimated. It's the digital arena where fintech companies strive to differentiate themselves, gain trust, and create lasting impressions. With so many users on these platforms, the potential to connect with audiences is immense.
Our expert guide is your practical roadmap. It highlights the importance of setting clear goals, truly understanding your target audience and keeping an eye on the competition.
It emphasises the importance of regularly reviewing your strategy, and utilising data to inform your social media marketing decisions, while staying adaptable in the face of changing trends.
Now that you have the tools, it’s time to dive in and conquer the world of fintech social media marketing. And if you need some help, Passionfruit specialists are on standby to supercharge your social media marketing efforts.
