Big data technology has changed the future of marketing in a multitude of ways. A growing number of organizations are leveraging big data to get higher ROIs from their organic and paid marketing campaigns. As a result, companies around the world spent over $52 billion on data-driven marketing solutions in 2021.
The Fintech sector is among those most reliant on data-driven marketing. The industry has access to massive amounts of data, so it should leverage them to make the most of their customer outreach and support strategies.
Martech author Allen Martinez talks about the benefits of big data in Fintech marketing. He cited an interview with Chris Orlob which showed that Fintech deals are closed with discovery techniques rather than talented sales tactics. These companies need to employ detailed data strategies to find the right prospects.
Therefore, if you intend to hire a Fintech marketing company, you need to make sure that they use data to their advantage.
Find a Fintech Marketing Company that Makes the Most of Big Data
Fintech, or financial technology, uses innovative solutions to improve the financial services industry. Fintech marketing is a special type of marketing that focuses on promoting fintech products and services. These marketing agencies can help you create campaigns to expand your business, increase revenue, and grow your market share. The best Fintech marketers know how to leverage AI and data analytics technology to improve their outreach and branding efforts.
In this post, we’ll walk you through a few tips for hiring a fintech marketing agency to ensure you’re getting the best results from your partnership with them. We will start with some of the basics, but delve into the importance of vetting them for their knowledge of big data technology later.
Identify Your Needs
Before you begin to search for a reliable agency for marketing for fintech, there are some things that you need to do. You need to ask yourself these questions:
- What is your business goal?
- How much does your Fintech company depend on big data?
- What are your challenges?
- What are the challenges of your customers?
- What are the challenges of your competitors?
- What are the challenges of your industry?
- And finally, what are the challenges of your market?
Decide Your Budget
The first thing you need to do is decide your budget. How much can you afford to spend? What’s the maximum amount of money you would be willing to lose if things don’t work out? And finally, what kind of return on investment are you expecting from your marketing efforts?
The hard reality is that data-driven marketing strategies can be costly. You will need to pay for quality.
Start by making a list of all the things that you want to achieve with your marketing.
- Do you want more sales?
- More traffic?
- Better brand awareness?
Once you’ve made this list, start thinking about the resources needed to accomplish each goal. For example, if your goal is to increase sales by 5% over the next 12 months, then you will need to determine how much time and money each marketing activity requires to reach this goal.
The second most important thing you should do is find out about the agency’s services. This includes the ones they offer and those they don’t, and how much they charge for each service.
Asking about the agency’s services is a great way to see if their offerings align with your needs. If you want a full-service marketing team and an agency that only does social media marketing, then that might not be the best fit for you. But it might work out just fine if you’re looking for something else entirely—like PPC management or video production.
Similarly, if an agency has extra services like SEO or SEM that aren’t included in the base package but are available as add-ons (for an extra cost), that’s good news too. It means they’re flexible enough to adapt their packages based on client needs.
You will want to make sure that the company incorporates data analytics into its service model. The best marketing strategies use data to optimize their campaigns. You will get much better results if you find a company that knows how to integrate data technology into its solutions.
Pricing is a complex subject, but it’s important to understand the basics before you start talking with agencies.
Here are some factors that will affect the price:
- Agency size and industry experience
- The type of services you need (e.g., website design or content strategy)
- The type of campaign you want to run (e.g., email marketing or social media management)
Case studies are a great way to see how an agency works with other clients. You can get a sense of their process and the results they typically achieve. This can be an especially helpful resource if you need a new marketing strategy or want to know more about how they handle specific challenges your company faces.
This is one of the best ways to determine if a company has a data-driven service approach. Better case studies will be based off of data collected from previous customers. The data will make it easier to create quality projections.
If you find case studies that look interesting, it’s important to take some time to read them through before making any decisions. While some agencies will publish case studies online, others may require you to request one directly from them so they can explain more about creating that particular piece of content and why it worked so well for their clientele.
In addition to the above questions and answers, the work process is an important consideration when looking for a fintech marketing agency. While it may seem minor, your marketing team’s work can tell you a lot about how well they will fit into your organization. You should choose a partner with processes consistent with your own. Again, you should make sure that the company shows that it is using big data in its work processes. They want to use big data in the Fintech customer service model if they will be handling your customer service for you.
This doesn’t mean they have to be identical or even similar; rather, you want them to align with how things are done at your company. If they’re completely different from what you’re used to, this could lead to confusion and friction between departments (and therefore slow down progress).
Look Into Their Referrals
As with any agency, it’s important to look into their referrals. The quality of their work should speak for itself, but if it doesn’t, you can always ask for references and check out the sites they’ve worked on. If you’re interested in a specific type of work (such as PPC or copywriting), ask them if they have case studies to show off their capabilities in that area.
Another important factor to consider is the availability of the agency. You want to make sure that they are available when you need them, both in terms of responding to questions and meeting times. The best way to determine this is by asking them about their responsiveness. What is the average time it takes for someone from your team to respond to emails? How quickly do they respond on a normal day, during peak hours?
Look for a team that’s adaptive and creative
When it comes to your fintech marketing agency, look for an adaptive and creative team. You want to find an agency that is willing to go above and beyond for you. Ideally, they will be highly adaptable and able to respond quickly with new ideas when times are changing or if strategies need adjusting.
Getting this right can make all the difference in terms of success—especially considering how competitive the financial services industry is these days.
Find a Fintech Marketing Company that Uses Big Data to Serve Customers
If you’re looking for a marketing agency, ensure they have the experience and skill to get the job done. You want to make sure that the company will know how to use big data to do the job effectively. You want a team that’s adaptive and creative so they can learn what works best for your business and apply it accordingly. Look at their past work, read their testimonials, and talk to past clients—this will help you find someone who fits your vision perfectly.