We are seeing rapid disruptions across industries as companies seek to meet consumer expectations for a digital world. From healthcare to financial technology, companies are pushing ways to go digital and become more accessible, empowering, and exciting.

Consumers are responding to this with great enthusiasm, engaging with new apps and platforms being developed.

• In 2021, 48% of Americans used a fintech app at least once a day, up 11% from the previous year.

Traditional financial institutions are anticipating and adapting to this rise of fintech.

• 77% plan to increase their focus on innovations to boost customer retention
• 88% believe that part of their business will be lost to standalone fintech companies in the next five years.

This abundance of consumer demand has become the land of opportunity, with thousands of fintech startups in the Americas alone.

Despite this potential in the market, establishing a foothold in a fintech market is easier said than done—few sectors within the industry are still brand new and completely green.

To make things trickier, fintech users tend to lack trust and loyalty across the board, making it more difficult to build and maintain a user base than it is in many other industries.

How do you not only establish a foothold but in this volatile space but capitalize on the great opportunities in fintech?

Like always, the key to success in such a fast-paced market is by staying ahead of the curve and outperforming competitors who don’t. 

With ample experience managing fintech client campaigns across a variety of sectors, here are our five trends to capitalize on in 2022 to create tremendous growth for your company.

#1: Consumers Want New Tech That’s Easy to Understand & Use

Fintech companies have reimagined everything from opening a bank account to planning for retirement. Tasks that were once a complex process have been made simple. And users have noticed, with 68% of users switching to fintech platforms due to ease of use. UX testing and iteration to create the ultimate user experience continue to be critical to converting users from other platforms.

How you can capitalize on this trend:

So how do you communicate this in your advertising to win users? Simplicity is key. 

Show users that your product will improve their life because it will save time, money, and headaches. Don’t overwhelm with all of the neat features you’ve created, but show users a streamlined life.

Finances can be a complicated, stressful part of life. Many brands try to solve this for users, but still use outdated methods. You can show your audience that they can take full control over their finances in a modern, accessible way. 

When you are able to communicate this through an omnichannel presence across platforms there is huge potential for capturing market share. Being first in the market to demonstrate that you understand the evolving needs of consumers will win you not just customers, but fans. A rapid advertising push across platforms will ensure a dominant, broad presence to make that happen.

#2: People Are Spending Like Crazy (But It’s Hard to Capitalize on This)

As industries change rapidly, consumer habits are changing as well. McKinsey reports massive growth in online shopping, especially among high income earners. How is your business reacting to these changes?

The problem most fintech companies face is not understanding how to adapt to this changing user behavior. Is your brand built for a primarily digital world? Are you landing pages optimized for smartphones? If you aren’t ready for these rapid changes, your customer base will leave for a company that is.

How you can capitalize on this trend:

Understanding your customer should be your number 1 priority. Collecting as much advanced insights as possible will show you where your audience is spending their time and how they’re spending money. 

You must be prepared for the different strategies that come with in-store audiences vs. online audiences. If you can identify and execute that, you are already far ahead of the competition still trying to figure out what has changed in the market.

An incredible opportunity also lies here as technology makes products and services more accessible to more people. A small town with only one bank may now have online banking services offered from across the country. 

As a fintech company, you have the chance to show people that you are here to bring them into this changing world. Understanding the wants and need of different age demographics will be crucial to communicating this effectively. Executing specialized strategies for each platform will ensure you’re not alienating potential customers.

As we said, a core component of adapting to a changing world is collecting data on changing audiences. But what do you do as this data becomes more tightly restricted? This leads us to the next trend:

#3: Useful Data is Harder to Get and More Valuable

Laws & guidelines around data privacy have accelerated dramatically in recent years. And for good reason – people want to be assured that their data is safe as we see highly publicized leaks happen time and time again

And for good reason – people want to be assured that their data is safe as we see highly publicized leaks happen time and time again.

So what do you do when restricted access to data make it harder to target audiences and gain their trust?

How you can capitalize on this trend:

Finding audiences is harder than every, which is why when you do, you have a significant advantage over the competition. The key is understanding each change that occurs on advertising platforms.

 Working with marketing agencies trusted by Facebook is a huge benefit, as the agency can get answers from dedicated Facebook representatives on how to stay effective.

What about an audience that is already suspicious of fintech companies for privacy reasons.. Use this to your advantage. 

While many consumers are forced to use products they’d rather not because of negative privacy reasons, you can be a brand they are eager to use for positive privacy reasons.

Make security a core component of your messaging – assure users that they are not at risk of leaking private information and their information will not be sold to 3rd parties. 

The perception of much of the public is that every online form poses a risk of privary breach. Assure them that with your brand, they are safe.

The right fintech marketing plan integrates and speaks about the latest, most relevant trends across demographics—but also considers how consumers are responding and engaging with these ideas overall. 

Perception of a brand needs to be wholly positive to remove as much friction as possible and 2establish trust. Data-driven strategies help ascertain what is working well so that you can amplify those efforts and achieve that goal.

#4: Regulatory Compliance is Tighter, but Not Impossible to Navigate

The regulatory tightening that started with the financial crash of 2008 is only getting tighter and tighter. Navigating the fintech space has become increasingly difficult with fewer, but larger deals taking place, more regulations, financial standard, and data security to navigate.

How you can capitalize on this trend:

As with many of these trends, the challenge it presents is also your opportunity to pass the competition. While the space becomes harder to navigate, if you work with marketing partners that understand it, you can become unstoppable.

The value an agency provides in fintech can include:

• Working through a complicated compliance process to get campaigns running and ads approved consistently
• Understanding the importance of regulations, where mistakes can be catastophic
• Access to dedicated Facebook representatives who can clear up issues

If you don’t have this knowledge and expertise, you will find yourself behind competitors. Fintech marketing in 2022 encompasses not just the ability to run successful campaigns, but also the ability to get those campaigns up and running wherever they need to be shown.

As industry insiders understand, getting there is not always as easy as it sounds and requires a delicate combination of knowledge and the right connections.

#5: Consumers Are Giving Their Loyalty to Innovative Brands

As brands try to adapt to a changing world, many get lost in the shuffle. Every day you see an updated logo, new mission statement, or complete overhaul of a brand. While consumers are most interested in a good product, these changes around the industry also mean that there is generally reduced loyalty in the brand of a particular company. 

Consumers are not as permanent as they once were and brands not as stable.

Focus on establishing your presence and effectively communicating how you are changing people’s life through your services rathan building a feeble vanity branding image.

How you can capitalize on this trend:

If you have a modern, accessible, consistent brand and good service to back it up, you can win just about anybody over. If a user on Facebook is scrolling through their feed and sees a brand they can quickly & clearly understand, they are much more likely to engage with it. Even the best products and services will lose out if they lack the omnichannel presence that creates trust in the brand.

This is crucial in the fintech space, as users are making significant decisions involving their money, so they need to trust the brand they choose. Executing your vision beyond your brand book is crucial to creating ads, website pages, and content that engages.

The Greatest Challenge You’ll Face in the Fintech Space

Fintech is huge—and growing at an unprecedented pace. There’s still plenty of opportunity to make a name for yourself and your company and to carve out a healthy slice of whatever sector you choose to get involved in. In fact, doing so is crucial to the success of your efforts.

If you resist change, ignore trends, and stay in the past, you will struggle to see the growth you want. As consumers demand more and more exciting innovations and regulators create restrictions, you need partners that understand this space and how to create a lasting impact.

The Fastest Way to Create Growth

Show your audience that they are in good hands. Communicate that you understand the latest trends, newest innovations, and need for data privacy. Consumers want to trust brands, now more than ever, and winning that trust is difficult, but not with the right partner.

As experienced professionals in the fintech space, DeltaSift connects with consumers quickly and effectively, providing data-driven marketing solutions that create rapid and lasting growth for companies.

If you want to see how DeltaSift can create rapid growth and help you capture the lion’s share of the market, reach out to one of our marketing industry specialist!