By: Joshua Finley
Every fintech marketer aims to craft the ultimate digital marketing strategy. This involves gaining a clear understanding of the business and accurately portraying the use cases of their product, as well as meticulously vetting their demographic when creating their ideal customer profile. Star fintech marketers strive to develop business-centric digital marketing strategies that not only enhance business performance but also distinguish their offerings from the multitude of competing products and services in the crowded fintech industry.
A uniquely positioned digital marketing agency located in Chicago gets this. Fintech Digital is a specialized agency that combines an emerging fintech mindset with deep financial services and marketing expertise. With decades of marketing and technology experience, the agency has mastered the art of getting their client’s message across to their consumers.
The Chicago-based agency has developed a comprehensive guide outlining four impactful steps to developing effective digital marketing strategies that enhance engagement and efficiently reach target demographics.
Tips to Creating an Effective Digital Marketing Strategy
The following are key elements to consider when creating an effective digital marketing strategy.
Understand The Customer
No digital marketing strategy will ever be effective without a clear understanding of the customer. For fintech marketers to effectively address their target demographic, they must first grasp who engages with their product, where they engage with it, and why they choose it. By gathering these data points, fintech marketers can create a robust profile of their audience. This allows them to identify the most suitable marketing channels, understand the primary challenges faced by their demographic, and recognize patterns in customer behavior.
Audit And Assess
To create an effective fintech marketing strategy, it is important to know which mediums and channels one’s demographic populates. A process Fintech Digital recommends is to conduct a full channel and content audit that analyzes all aspects of created content. From SEO and keyword analysis to goal alignment and performance tracking, adding all key performance indicators (KPIs) and metrics to a spreadsheet will allow marketers to track all elements of content across different mediums to see which pieces of content perform better and which bring in more viable leads.
Find The Purpose
Oftentimes, fintech marketers put emphasis on the beginning and middle parts of the content creation journey. An aspect that often gets overlooked is the end result. In departments such as marketing, sales, and product development, managers often put too much emphasis on the final metrics but skip the overall purpose of the department. As a marketer, it is essential to sit down and figure out the exact purpose of each piece of content and the overall marketing campaign. Questions such as: “Are we answering our customer’s pain points?” or “What is the messaging behind this campaign, and does it align with our demographic?” These are both important questions that explain the intentions behind the marketing actions. Taking a step back to assess why the team is creating content in the first place is vital to not lose track of the vision. Jumping straight into marketing objectives without completing this step can often set the project back rather than push it forward.
Review And Refine
When developing marketing strategies, it is essential only to include metrics and KPIs that truly fit the business goals of the company. These data points are useless on their own, so working to take them apart and understand exactly what they represent is also crucial. Fintech Digital recommends developing a plan to understand the business goals and objectives of the company and then see if the marketing metrics outlined fit those goals. To gain valuable insights from KPIs, they must be in line with and relevant to these company objectives. To do this, fintech marketers should:
Stay Away From Vanity Metrics.
Ignore the likes and comments and instead focus on the metrics that are crucial to long-term success, such as warm leads and click-through rates.
KPIs.
Do not set your KPIs in stone or put your metrics into a box by setting an immovable goal that cannot be changed. Instead, work to continuously update your KPI goals based on changes in the marketing campaign.
Isolate Metrics If Needed
If something is going wrong but the culprit is not easily identifiable, have a process in place to separate metrics to identify what exactly the problem is.
Continuous Refinement
Set up continuous intervals for analyzing, understanding, measuring, and reporting metrics. It is important to always review KPIs to see if there is anything missing in terms of campaign performance.
Published By: Aize Perez
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