2023 was a year where marketing teams in all verticals had to be more strategic and creative with their dollars – particularly for teams within the fintech and financial services space.
Heading into 2024, key trends are emerging that all fintech focused marketing teams are talking about.
Use AI to Scale Content and Measure Insights
This is one that everyone is talking about across all industries. This year, AI will be used to scale content and increase the volume of resources shared, better engage stakeholders and communities, and most importantly help fintech companies better understand customer behaviour and preferences to enhance performance marketing results.
As so many technology companies across the board are still recovering from the layoffs of 2023, utilizing AI to automate administrative marketing tasks will allow teams to focus more on strategy and relationship building.
Focus on Omnichannel Strategies
Fintech companies are gradually moving away from traditional marketing tactics to find ways that they can reach their stakeholders through more creative and unique strategies. At Quill, we’ve already seen a significant influx of fintech clients reaching out to explore branded podcast opportunities in 2024.
These companies are placing an emphasis on a mix of mobile and digital and they’re investing heavily in content marketing campaigns, digital ads, email marketing, social media campaigns, and audio/video marketing such as podcasts.
Invest in Audio and Visual Content
It’s no secret that bite sized video content has higher engagement, but for long form content (30 minutes or longer) audio is the better choice. In fact, studies show that 93% of people who start a podcast end up listening to the entire episode, whereas a 30 minute video only has a 12% completion rate.
We know that consumers are listening to podcasts while engaging in another activity, like commuting, walking a dog, or doing household chores, and that is ultimately increasing engagement. Investing in long form audio content, with short video clips for added engagement is going to be a winning strategy in 2024.
Build and Earn the Trust of your Customer
As a fintech company, building trust is always first on the to do list for marketers. Especially within this economy where people are going to think twice before making any decision regarding their finances. We’re seeing traditional content marketing, PR, and influencer marketing playing a big part of the marketing mix for these companies for 2024. These tactics are all focused on building brand credibility, increasing engagement, and ultimately developing trust and thought leadership when it comes to the highly regulated world of fintech and financial services.
Ultimately, 2024 is a year where financial uncertainty for consumers and businesses continues to be top of mind. Marketers within the fintech space, among all verticals, have their work cut out for them and need to consider a mix of activities that ultimately educate, build relationships, and engage the end customer. Whether someone is navigating a mortgage renewal, applying for a new credit card or making difficult decisions around investments, consumers deserve the choice and transparency that fintechs bring to the table and it’s the marketing team’s job to share that.
Fatima Zaidi is the CEO and Founder of Quill & CoHost. Quill is an award-winning content marketing agency, specializing in branded podcast content for top fintech and financial services brands including, CapIntel, EQ Bank, Interac, Float, RBC, TD and more. CoHost, a podcast growth and analytics tool used by customers like Blackrock, TD, and Interac.