Best Practices for Marketing FinTech Mobile App

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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 lifespan of a Fintech app tends to be short unless there’s a clear goal to keep users engaged. When a new app launches, it often offers discounts, cashback, and other incentives to attract users. Without hesitation, many users switch to these new apps for the deals.

That’s why it’s crucial for your app to have great features and be user-friendly to compete effectively. Also, it is required to follow certain best practices to market the App in the mobile world.

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. 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 colors in the UI to ensure the user is attracted to the app.

Educate the Users

Before diving into marketing, it’s crucial to educate users about Fintech Mobile App technology. Many users hesitate to use these apps because they lack the necessary knowledge.

The end-users will have to get the right instructions and steps to use the app. As a marketing strategy, 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

When discussing finance, one of the primary concerns that naturally arises is security. In banking and finance, making sure transactions are secure is incredibly important.

When users know the app has strong security measures, they trust it more. This trust keeps them from looking for other options. This confidence in the app’s security can significantly contribute to user retention.

For banking applications, in particular, users prioritize security above all else. When users feel like their transactions are safe and secure, they’re more likely to use a Fintech app for payments anytime. To build and keep trust, these apps need strong security measures like encryption, multi-factor authentication, and regular updates. It’s also important to explain these security features clearly to users, so they feel confident and comfortable using the app for their financial needs.

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 utilize the discounts in global centers 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 utilize the app to avail of their cashback feature.

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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 utilizing 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 has 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 requirements 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 find 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

FAQs

How can social media marketing benefit Fintech businesses?

Social media marketing helps Fintech companies reach their target audience effectively, increase brand visibility, and drive engagement through platforms like Facebook, Twitter, and LinkedIn.

What are some effective Fintech marketing campaigns?

Fintech marketing campaigns can include strategies such as offering discounts, cashback, and other incentives to attract users. Additionally, utilizing influencer marketing and creating compelling content can also be effective.

How does influencer marketing impact Fintech products and services?

Influencer marketing can significantly boost the visibility and credibility of Fintech offerings by leveraging the influence of trusted individuals within the industry or related niches.


What types of products and services are commonly marketed in the Fintech industry?

Fintech companies often market a wide range of products and services, including mobile payment apps, investment platforms, digital banking solutions, and financial management tools.


Why is it essential for Fintech applications to have user-friendly features?

User-friendly features are crucial for Fintech applications to retain users and compete effectively in the market. Intuitive interfaces, easy navigation, and seamless transaction processes enhance the overall user experience, leading to higher user satisfaction and retention.

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