Fintech and social media: trends, strategies, and best practices for 2024

Fintech and social media: trends, strategies, and best practices for 2024

The Fintech B2B marketing conference provided fantastic insights into the evolving landscape of marketing – highlighting trends, strategies, and key challenges.

And of course, social media has become a crucial component of fintech marketing (being mentioned at almost every session). So, here’s my summary of the core points, peppered with some data and a few anecdotes from chats in the breaks.

You know what’s changing in the world of fintech and social media? It’s all about getting back to the basics of human connection. Sure, technology and AI are skyrocketing, but let’s not forget that at the end of the day, we’re dealing with people – real, live, breathing human beings. It’s the shift towards human to human marketing that’s making waves. And yes, I know it’s cheesy to say that and that we’ve

been talking H2H in B2B for yonks, but in truth it is the foundation of fintech marketing – the need for relationships that build trust. Just look at what matters to the marketers in the room. The event poll shows that its emotion driven marketing that matters to CMOs.

One of the key insights from the conference was that brands need to keep it real. As one speaker put it, “We need to ensure we’re engaging with our audience in a way that feels genuine.” This speaks to me because it’s easy to get lost in the tech and forget that authenticity is what truly resonates with customers. People want to connect with people, not robots.

If you’re in fintech and looking to make those human connections, here are some simple yet effective ways to do it:

  • Don’t just broadcast your message and call it a day. Encourage your social media team to chat with your followers in real-time. Answer their questions, join in their conversations, and make them feel heard. It’s like hanging out with friends – no scripts, just a good old back-and-forth.

Better still, go live on LinkedIn – honestly one of the best things you can do to connect with buyers. Maybe even make the most of the new TikTok style video coming to LinkedIn.

  • It’s not enough to throw out generic marketing. You need content that speaks directly to your customers’ pain points and solves their problems. Tailor your message to what your audience cares about. It’s like having a conversation with a friend who really gets you. So many of the speakers talked about knowing the why of your businesses and buyers. Why do customers buy? Why are you different? Why do you help buyers? This is how we at IF plan. Start with the pain, then the why. It makes you very focused on the buyer and not on your product benefits and features. And it works!
  • Advice from all the experts at the event was “AI and chatbots are cool, but they should never replace the human touch.” Use them to handle basic queries and free up your team for the complex stuff – the real conversations. It’s like having a virtual assistant who sets the stage, so you can make a grand entrance.

And there is value in this approach. A significant percentage of consumers trust financial brands that are active on social media. A report by Sprout Social found that 68% of consumers are more likely to trust a financial brand with a robust social media presence.

Here’s a tip from Nick Vitchev, senior strategy professional at Chartis Research, who said at the conference:

It’s not just about customer service; it’s about customer experience. Understanding your customer deeply is key. Know what they want, what makes them tick, and what keeps them up at night. This understanding will guide everything you do in human to human marketing.” Remember, in fintech, it’s all about building trust and transparency.

Nick Vitchev, senior strategy professional at Chartis Research

So, the future of fintech and social media? It’s not about losing the tech; it’s about using it smartly to create those genuine, human connections. Keep it real, keep it personal, and don’t be afraid to have a little fun along the way. That’s how you build relationships that last.

Think, Thought, Thunk

One of the most important takeaways from the conference was the value of thought leadership. Let’s face it, in the fintech world, if you want people to listen to you, you must establish your brand as a go-to source for insights and information. It’s not just about having a catchy slogan or a snazzy logo; it’s about building a reputation as someone who knows what they’re talking about.

A speaker at the conference put it this way, “Your social media presence should reflect your expertise.” That’s a good starting point, but how do you actually get there? You need to share content that resonates with your audience and demonstrates that you know your stuff.

Thought leadership is about positioning yourself as a trusted guide in the fintech jungle. It’s not enough to just post; you have to engage. Respond to comments, ask questions, and join discussions. The more you interact, the more you become part of the community.

So, what’s the big takeaway? If you’re aiming for thought leadership, be the voice of reason, the source of truth, and the one people turn to when they need clarity. Keep it real, keep it informative, and always remember that your social media presence is a reflection of your expertise. Get that right, and you’re well on your way to building a brand that people trust.

The power of stakeholder support, collaboration, and creativity

The “Success in B2B” session at the conference laid out some solid strategies for making marketing campaigns work. If you’re in this space, you know that getting everyone on board, both within your team and among stakeholders, is crucial for a campaign’s success. It’s not just about having a great idea; it’s about aligning everyone towards a common goal and having a plan to get there.

When it comes to stakeholder support, it’s all about building relationships. You can’t just walk into a meeting and expect everyone to be on the same page. You need to lay the groundwork. It’s like a speaker said at the conference, “It’s about getting those foundations in place.” So, make sure you’re having those conversations early on, explaining your strategy, and showing how it benefits the broader business goals. Get people excited about the campaign and make them feel like they’re part of it.

But it’s not just about getting people on board. Creativity and innovation play a massive role in making your marketing campaigns stand out. In B2B, you’re often competing with a lot of noise. To cut through that, you need to be willing to experiment and try new things. As one speaker put it, “Innovation starts with a willingness to try new things.” Don’t be afraid to think outside the box, whether it’s exploring new content formats, using different platforms, or collaborating with other teams.

The conference delegates thought that this was a challenge to tackle. The on-site poll reveals the biggest challenge is brand differentiation. And this stand out needs buy-in.

Collaboration is another biggie. You can’t do B2B marketing alone, you need a strong team and a collaborative environment. This is where internal relationships come into play. You want to create a space where everyone feels comfortable sharing ideas and pushing boundaries. It’s not just about following the same old script. When you have a collaborative team, you get a lot more creativity and buy-in, which leads to more successful campaigns.

So, what’s the secret sauce to a successful B2B marketing campaign? It’s a mix of stakeholder support, creative strategies, and solid teamwork. Lay the groundwork by getting stakeholders on board. Keep your team engaged and open to new ideas. And most importantly, don’t be afraid to be bold and try something different. If you can nail these elements, you’re well on your way to creating marketing campaigns that not only stand out but also drive real business results.

Data driven decision making is at the heart of modern fintech marketing. It’s not just about posting content and hoping for the best; it’s about using data to drive every move you make. The MarTech session at the conference put it plainly: If you’re not using data to guide your decisions, you’re flying blind.

A speaker from the session made a point that stuck with me: “Data should guide your decisions, not just be an afterthought.” This encapsulates the essence of data driven marketing. When you have the right data, you can track how your campaigns are performing, understand what your customers are doing, and spot trends that can inform your next steps.

More importantly the poll at the event shows that fintech marketers think the biggest challenge is in measuring growth and attributing it to marketing. There is an understanding of the need for more insightful data. But they also said that the biggest challenge in making this happen was connecting data across platforms (55%) and accurate data analysis (45%). So, for many, they lack the tools, skills, and the time to make this actually happen.

Social media analytics are gold in this context. They allow fintech companies to measure engagement, track reach, and see which content is resonating with the audience. It’s like having a dashboard that tells you what’s working and what’s not. And let’s face it, when you’re spending time and money on marketing, you want to know that it’s hitting the mark.

But there’s more to it than just analytics. Nick Vitchev stressed the importance of compliance and data governance in the fintech sector. You can’t just collect data without considering regulations. Aligning your marketing strategies with rules and regulations is crucial, especially with laws like GDPR. If you’re not compliant, you risk not only fines but also losing customer trust.

To truly embrace data, fintech companies should:

  • Use social analytics regularly. This is where you get your insights. Track engagement, measure reach, and see which content drives conversions. It gives you a clear picture of what’s working and where you might need to adjust.
  • Compliance isn’t optional in fintech. Make sure your campaigns follow data protection regulations to maintain customer trust. The last thing you want is to violate rules and face repercussions.
  • Automation can be your best friend. AI-powered tools can help you analyse data and spot trends faster. This allows you to focus on what really matters, creating effective marketing strategies.

Data driven decision making in fintech marketing is about using data to make informed choices. It’s about compliance, governance, and using technology to optimise your strategies. If you’re not using data to guide your marketing, you’re missing out on a significant advantage.

Hybrid events and social media

Combining hybrid events with social media strategies is a powerful way to extend the value of an event and keep the momentum going long after it concludes. The key is to use the unique advantages of both elements to create engaging and meaningful experiences for your audience.

During the “Theory to Practice” session at the conference, one speaker said, “Hybrid events are here to stay.” This is because they provide an opportunity to connect with audiences who might not otherwise be able to attend in person. Social media plays a crucial role in amplifying these events and engaging with a larger audience.

With hybrid events, you want to maintain a consistent presence on social media. This means having multiple touchpoints, 8-9 is ideal to keep engagement high and encourage interaction.

To keep the value of events going, focus on creating content that matters to your audience. This involves a mix of engaging content, such as behind the scenes looks, interactive Q&A sessions, and unique experiences that reflect the nature of the event. This type of content not only keeps people engaged during the event but also extends the value by nurturing leads through the funnel.

The aim of combining social and events is to squeeze the pips out of your event investment and extend the longevity of the demand generation – keeping those leads coming.

Final thought on the Fintech B2B Marketing conference

As we move into a new fiscal year, the world of fintech and social media continues to evolve at an impressive pace. We’ve explored a range of trends, strategies, and best practices that shape this dynamic industry. From the rise of hybrid events to the increasing role of AI in personalising customer interactions. It’s clear that innovation is at the heart of fintech marketing.

What stands out from the conference and other sources is the emphasis on human to human connections, thought leadership, and data driven decision making. Whether you’re a seasoned marketer or just getting started, these themes offer valuable insights for creating successful campaigns and building strong customer relationships.

As you navigate the ever changing landscape of fintech marketing, remember that it’s all about connecting with your audience on a personal level. Authenticity, creativity, and collaboration are key to standing out in a crowded market. And while technology and AI play a significant role, they should never replace the human touch.

In the end, the most successful fintech brands are those that keep it real, keep it personal, and stay open to new ideas. So, go out there and make those connections, tell your story, and don’t be afraid to take risks. The future of fintech and social media is full of opportunities, and it’s up to you to make the most of them.