There are a lot of apps getting created in the market on a daily basis. When you look into the App Store or Play store, there will be a large number of Fintech apps to download from. Hence the end-users will always be confused about which application to use for their goals. Also, in the mobile world, day in and day out, there exist a lot of options that are given to the end-user, and they don’t really stick to one particular marketing fintech mobile app.
The life cycle of the application is generally going to be very short unless there is a genuine objective to retain the user. Also, whenever a new mobile application in the area of Fintech is launched, they come up with a lot of discount options, cashback, and scratch cards to attract the users easily. Hence without any further hesitation, most of the end-users will switch over to the new one to avail of the offers and discounts. Thus, it is very much essential to devise your mobile application with a good set of features and user-friendly options. Also, it is required to follow certain best practices to market the App in the mobile world.
Table of Contents
Attract the end-users
The mobile application should be created in a way that it has a good set of features to convince the end customers.
The first question that might linger around your mind is how the user will know about your Fintech application. The answer is that they would know the application only if the marketing strategy of your business is properly set to reach the end customers.
It is not going to be a traditional way of marketing by just using traditional advertisements through media channels. The marketing will have to be available on the digital platform. The social media platforms like Youtube, Google, Tiktok, Instagram and many more have the provision for marketing the apps in their advertisement section. You will have to invest a certain amount of money in allowing these advertisements to appear for the users. Also, the advertisements should have the facility for the users to click on the app link and get that installed on their respective devices.
The installation should be an easy process. Also, you will have to supply the necessary and catchy sentences in the Play Store and App Store to market the app, which should have the right set of colours in the UI to ensure the user is attracted to the app.
Educate the Users
Beyond the marketing process of the app, the user should be first educated about the Fintech mobile App technology. Most users today will have the hesitation to use the Fintech Mobile applications because they will not have the right knowledge to use the app.
The end-users will have to get the right instructions and steps to use the app. As a marketing strategy, if the users are given the directions and steps to use the app in a friendly manner with an easy user experience. To support the market strategy, the app should be capable of providing a rich user experience.
Security and Trust
The moment we start the topic on finance, the next item that will be taken up into consideration is the security aspects. If a user is able to understand the security aspects of the application and if they feel that their transaction is going to be handled in a secured channel, then there will not be any necessity to find an alternate way to retain the customers. Particularly in the case of banking, if the customer finds the security inbuilt in the app, then the user will prefer to use the application for the payment transactions at any time in the day.
Discounts and Offers
You can have the end-users use the app if you introduce a good set of offers and discounts. The offers and discounts are very much required to have the user sign up with the Fintech App. If the app is designed for banking services, then you can provide a one time offer for signing up.
However, if it is designed for savings and investments, then you will have to come up with a lot of discount methods and offers to enable the customer to use the app. Also, there are ways to provide the customer with cashback options.
The fintech apps today will allow the customer to earn some reward points for every referral. The apps also provide options to buy cryptocurrencies available across the world. When the user sees certain options to utilise the discounts in global centres like Walmart, Amazon etc., to gather attraction towards the app, cashback options will also attract the users. This is because these options will enable a way to retain the end-user as they will have to anyway utilise the app to avail of their cashback feature.
Comparison Details
You can sell your app if you come up with a certain list of comparisons with the traditional model of managing financial services. Any of the sectors today utilising the Fintech App will definitely be able to show a tangible benefit compared to the traditional model.
Most of the Fintech Apps will allow the end-users to complete their KYC in a very short time, provided their details are uploaded from their end. The Fintech Apps should be able to market based on their feature set available to ease out the day-to-day work of the customers. For example, opening up an account in the bank had become an easier task with these Fintech applications.
Today’s world is filled with digital techniques, and we are moving towards a faster pace of technology. Payments are happening in seconds with UPI and QR codes. Every banking sector today is enabled with UPI options, and now it is just that you need to come up with a comparative study of performing hassle-free payments with your app and the competitor ones.
Advertisements
Marketing can never function independently without advertisements. Advertisements during main events occurring in your geographic area will have a better reach for your app. Nowadays, Fintech apps are following the strategy of advertising in your local channels and during local events.
By doing this, the end-users will first try to get some trust. Later, they then might try to sign up with the app. After they sign up, it is the responsibility of the app to attract users with a lot of user-defined options and features. Also, they might get attracted if you can provide them with a unique discount pertaining to a specific set of users to enable them to use the product.
Charity Concepts and Social Events
You can also invite the users to sign up if you are doing a good cause for society by investing a small sign up amount every time a new user joins the app. This is also one way of attracting customers to your app.
Lazy Payment
The financial apps are coming up with certain risks of enabling the customer to make Lazy payments. Such risks are taken because it will help the apps to retain the customers. But before making the lazy payment, they need to have the KYC filled up by the customer. To avoid maximum risk, the marketing strategy should attract customers with a limited lazy pay option. However, the app can slowly increase the limit if it can see the customer paying back to the App at a regular interval.
Final Words
Getting your Fintech app developed and marketed requires careful consideration of various factors. Hiring the best-suited professionals for the job is one of the important parts of the requirement for marketing your Fintech app market. Also, it is very important to consider the fact that there is a lack of suitable partner agencies and vendors who can work on the requirement of marketing your Fintech app. This is where the role of Expand My Business can play an important role in life. We not only help you in finding the most suited partner agencies and vendors who can work on your project requirements but rather manage the end-to-end delivery requirements of your project. Get in touch with us today to get started.
We are Team EMB the voice behind this insightful blog.
