In the world of fintech marketing, there’s a debate to be had over whether it’s best to keep things simple, or if adding more sophistication to your messages is the optimal way to go. On one hand, simplicity makes your product seem more accessible and user-friendly. On the other hand, shouting about your advanced features from the rooftops can help attract the more tech-savvy users.
So how do you find the right balance? Well, to help solve this conundrum, we bring you some tips on locating that sweet spot between simplicity and sophistication in your fintech marketing.
The Case for Simplicity
By now, most people have heard of that famous acronym that first originated in the US Navy back in the 60s: KISS (Keep It Simple, Stupid). This design principle points to one basic logic – simplicity in design and functionality usually leads to a more accessible and user-friendly product. The same can be said when it comes to marketing.
With this in mind, let’s take a look at some of the main reasons why it could be better to lean towards simplicity when marketing your fintech product:
Lower barriers to entry: Marketing your products in a simpler and more intuitive way means that more people are going to understand the benefits and value proposition of your service. Things like lower trading fees, easy account opening, and a wide range of features are all clear perks that most people would grasp. This means your messages will be received by a wider target audience.
Increased conversion rates: Simpler landing pages and interfaces with clear calls-to-action have been proven to convert more customers compared to overly complex platforms. Removing the clutter and guiding users smoothly towards signing up or making purchases can help increase revenue generating opportunities.
Tips for Simplifying Your Marketing
As they say, if you can’t explain something in simple terms, that usually means that you don’t really understand it well enough yourself. As such, there is definitely an art to conveying complex topics in an easy-to-digest manner – and the brands who can manage to do it effectively will be able to reach a much wider audience. Here are some tips on how to do just that:
Explain One Core Benefit
As for your messaging, it may be better to just focus on one core benefit, rather than overwhelm with a wide range of vague perks. What is it that separates your product from the rest? Is it lower fees? Is it easier onboarding? Is it the sheer number of trading pairs that you have on your platform? If you can really dial in on what this one unique value proposition is, it’ll be much easier to stand out from your competitors.
Use Visuals Showing Easy Onboarding
As traditional marketing methods become less effective, visual mediums such as photos and videos become increasingly valuable. If you can, show, don’t tell. Instead of explaining to a user how easy it is to exchange currencies on your platform, create a quick video and actually show them.
Share Reviews Focused on Usability
In the fintech world, things get complex really fast. For this reason, sometimes it’s better to let your users explain the features and benefits to each other. User testimonials and reviews can really help to drive home key advantages, and the social proof acts as a key sales driver.
Offer Free Trials Requiring Minimal Info
Following on from the show don’t tell method – offer people a trial so they can get their hands on your product or service early on in the discovery process. This gives people the chance to really see what your platform is all about.
The Case for Sophistication
Sometimes, adding more advanced capabilities and crypto-specific features can also be a smart play:
Meet user needs: While simplifying covers the basics, your platform still needs to solve real problems and address user pain points. Adding the right level of sophistication to your marketing message will add meaningful value to those that are looking for more advanced features.
Stand out from competitors: If you just market your basic features, you aren’t going to stand out from your competitors. You will appear too vanilla for those looking for something that packs a bigger punch. Marketing your more advanced features means you can more easily differentiate yourself.
Tips for More Sophistication
If you’re looking to inject some sophistication into your fintech marketing, there are a few easy ways you can do that.
Highlight Unique Integrations and Partnerships
For starters, talk up any unique partnerships or integrations you have with other services. Promoting specialized APIs and connections gets tech-savvy users excited about all the possibilities.
Create Content Around Advanced Features/Tactics
You’ll also want to create content that dives deeper into some of your more advanced platform features. Offer tips, walkthroughs, or guides that really explore the full capabilities and help people get the most out of your solution. This kind of educational content tends to resonate with more technologically-inclined users who appreciate that level of detail.
Showcase Coming Innovations Through Press Releases
If you really want to show off your expertise and recent innovations, then a press release is going to be one of your best options. Bespoke services like FinanceWire help fintech brands distribute their announcements to some of the biggest financial media outlets with guaranteed and immediate exposure. Not only does this give you a platform to shout about your more advanced features and capture a more knowledgeable and informed crowd, but it also helps to build that all important trust and credibility in your niche.
Provide Premium Memberships with Exclusive Features
You can always monetize that sophistication too with premium memberships. Provide additional features, customizations, or analytics capabilities through paid plans aimed at power users willing to pay for those exclusive extras that take their experience to the next level.
Final Word
Finding that perfect blend of simplicity and sophistication in fintech product marketing isn’t straightforward. There’s no magic formula—it really comes down to understanding your customers and learning as you go.
Sart off keeping things clean and simple. Make sure you nail the basic, essential features first before venturing into more advanced territory. Once you have gotten simplicity down pat, then you can begin to explore providing more tailor-made power-user capabilities.
As you introduce new features, keep an ear to the ground listening to user feedback, and keep an eye on your analytics to see what’s resonating. This will help you identify which customer segments care about having those extra bells and whistles at their disposal. You can then customize content and offers specifically for them.
It’s an iterative process that will likely involve some trial and error before you land on that winning combo. The key is being patient, testing different approaches, and letting real user reactions guide you toward finding that sweet spot