5 Fintech Marketing Trends for 2024
Fintech and marketing are both fast-changing fields.
As a digital marketing agency for fintech, we carefully filter which trends are worth focusing on.
There are several trends that we predict will influence fintech marketing in 2024. We have complied the top 5.
In this article, we will look at the following:
- More sophisticated influencer marketing strategies
1. AI writing tools
In 1953, Roald Dahl published 'The Great Automatic Grammatizator'. It's an unsettling story about a computer that writes "over half of all the novels and stories published in the English language."
In 2024, real-life 'great automatic grammatizors' are here. Many marketers (and others) are openly worrying AI-driven content…
Microsoft’s Chat GPT and Google’s Bard are the two most well-known examples.
Many commentators claim they are game-changers for content writing. Others believe they are simply aren't up to scratch yet.
We don't recommend you begin deploying AI-writing tools at scale immediately. However, if you aren't familiar with them, you risk being behind on a pivotal trend.
How AI-tools writing tools will be used in the year ahead
In late 2023, on Google's Search Off the Record podcast, Gary Ilyes said:
I don't think generative AI tools are that bad. It's the "how it's used." I think that's the problem many times. Obviously, not always. And it can be incredibly helpful when, for example, you have a writer's block, and then you are trying to put out the page very fast because deadlines or whatever. And then it can come up with a structure and perhaps word suggestions even, or word variations in the text that will work well for users.
This, and as John Mueller added 'brainstorming', is how we see AI writing tools being used in the year ahead.
Many fintech businesses have already employed chatbots to help with their customer service.
One report by Insider Intelligence estimates that general consumer retail spend via chatbots will reach $142 billion in 2024. Back in 2019, this figure was approximately $2.8 billion.
We expect to see more chatbots deployed across different messenger platforms in the coming years.
They will also develop even better interaction capabilities with customers, thanks largely to AI.
2. More sophisticated influencer marketing strategies
You may not associate influencer marketing with financial technology.
Types of influencers
Most think of influencers as a homogenous group. Many know them as internet personalities, celebrities, or experts with large social media followings.
As the market for them has grown, more specialised roles and categories have appeared. Now, one of the main ways to group them is by audience size:
- Mega influencers: Influencers that typically have over a million followers. They have broken into the mainstream, as well as more traditional celebrities. Ryan Reynolds working with Nuvei is a prime example.
- Macro influencers: Often with less than a million social media followers. They are primarily well-known due to their influencer activity. Many have organic social media followings.
- Micro influencers: With approximately 10,000 to 100,000 followers, they specialise relatively exclusive and engaged audiences for non-mainstream brands.
- Nano influencers: With less than 10,000 followers, these influencers offer authentic and high engagement. Their reach isn’t deep, so utilising several of them is ideal.
What is a fin-fluencer?
'Fin-fluencers' refers to people with influence within the fintech industry.
They aren't always figures who can be hired to directly promote your product or service (though they might be persuaded to review it).
David Birch (author and commentator), Aja Dang (YouTuber and social media influencer), and Anna Maj (advisor and keynote speaker) are just three examples of different kinds of fin-fluencers.
The influence of peers' reviews
Reviews are increasingly important huge. Potential buyers often look them up on Google, Trust Pilot, or elsewhere.
Marketers need to reliable new ways to induce existing customers to leave positive reviews across different platforms.
3. Short-form videos
Millenials and Gen Z make up a significant and fast-growing segment of most fintech companies' target audience.
Compelling short-form videos help reach them.
AI video creation tools help speed up the process of creating these, but ultimately creativity and good video editing skills are still needed.
This doesn't mean that there isn't still a place for long-form content in fintech. Podcasts (audio and video form) and longer form video content are still trends worth capitalising on.
AI video creation tools
AI video generation tools are now on the market. Examples include Synthesia (for videos) and Descript (for audio and videos) are now available.
These are currently especially good at great short, introductory brand and product videos. As with AI writing tools, the skill in using them often comes down to users' abilities with prompts.
4. Integrated inbound marketing
Inbound marketing covers many different areas and 'integrated' means aligning different channels and messaging.
In our opinion, the best tool for this is HubSpot. It enables marketers to manage and oversee each aspect of the inbound marketing process on one CMS content management system.
With a marketing strategy that typically includes campaigns, blogs, social media and email marketing, integrated data creates a more cohesive and seamless marketing experience for users.
B2C versus B2B marketing
Much of what we have discussed above is relevant to marketing for both B2B and B2B customers.
The idea that B2B buyers are somehow isolated from the trends we are seeing in the consumer space is totally outdated.
Yes, their purchasing processes are likely to be different. But at the end of the day - it's all about engaging with a human being who was (and still is) a consumer in their own right, long before they were a B2B buyer.
Like fintech and marketing, fintech marketing is changing rapidly.
This year, we see the following trends growing in importance.
- AI writing tools: Microsoft's Chat GPT and Google's Bard have already transformed online content marketing.
More sophisticated influencer marketing strategies: Switching between micro and marco influencers and fin-fluencers, even in the B2B sphere.
- Short-form videos: The popularity of short-form videos, particularly with younger audiences, necessitates fintech firms' competence in producing compelling short content.
- Integrated Inbound Marketing: Inbound marketing with tools like HubSpot provides a cohesive user experience and facilitates prospect conversion.
These are our top five fintech marketing trends for 2024. Come back next year to see what's changed (and what hasn't!).