Building future ready marketing strategy for businesses in fin tech space

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About SubhenduWorked with Large brands such as Infosys, Tata, Cigniti and start-ups such as Mindfire, Gallop and many more.PhD Research Scholar in Marketing - IIM Indore; MBA - S P Jain Singapore, B. Tech - NIT RourkelaBusiness Advisor Start-ups & Enterprises on Go To Market strategy, Marketing Strategy & InnovationCo-Founder Hyderabad Marketing Meetup & The Content Writer ConnectionWinner of Top 100 Most Influential Global Marketing Leaders by World Marketing Congress & CMO Asia.

AgendaFinTech TodayGoing digital is inevitableIf you are FinTech Startup..Creating Marketing Strategy Q&A

FINTECH - IntroductionLending:Technology-enabled financial platform that provides loan financing to small- and medium-sized businessesPersonal Finance:Free credit and financial management platform for US consumers available on the web and major mobile platformsPayments:Online payments system. Online money transfers serve as electronic alternatives to traditional paper methods like checks and money orders.Retail Investments:online investment platform that wants to make trading stocks as easyEquity Financing, Remittances, Consumer Banking, Financial Research , Banking Infra, Institutional Investments & more.

Indian fintech software product market generated revenues of $1.2 billion in 2015, and is expected to grow more than 2X by 2020. With over 400 companies, India is quickly emerging as an Fin-tech products hub out of which more than 30% are mature firms with demand across regions.NASSCOM

Going Digital is inevitableThe financial services industry has been in the forefront of adopting technology which has been largely focused on delivering efficiencies, but digital presents a whole new paradigm. According to Cisco, by assessing, adopting, and, especially, combining the right digital use cases for their needs, banks will capture their share of this opportunity and be in a position to enable IT agility and operational effectiveness; differentiate their business strategies from those of competitors; define disruptive new digitally enabled business processes.

Be FuturisticLeverage BI & Predictive Metrics Be Social Media Savvy

Be Customer Centric

If you are FINTECH Start-up you need to

How should you then Market yourself?

STEPS TO DO MARKET ResearchMonitor with Indexing Alerts. Listen by Spending Time. Filter. Use.Search for Credible sources of information (Offline and Online)Devise your own scales or adopt existing scales and measuring instrumentsCheck for external validity and not just in the labsBuild Buyer persona ( Applicable for B2B, B2C, Startups and Enterprises)Identify Pain points and then map your solution

Before getting started with Market research, first thing which needs to be checked is the credibility and authenticity of the information source. Government sites provide a host of useful data on economic indicators, employment statistics, income and earnings and so on which have high credibility. Other sources of information are trade groups, journals, academic institutions which are researching in the area of your interest, industry databases & freely available information on Internet. However, it is recommended to use a mix of various sources of information rather than using only one specific source of information, specifically online, to avoid data bias or inadequacy.

Before getting started with Market research, first thing which needs to be checked is the credibility and authenticity of the information source. Government sites provide a host of useful data on economic indicators, employment statistics, income and earnings and so on which have high credibility. Other sources of information are trade groups, journals, academic institutions which are researching in the area of your interest, industry databases & freely available information on Internet. However, it is recommended to use a mix of various sources of information rather than using only one specific source of information, specifically online, to avoid data bias or inadequacy.

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Creating Customer Centric marketing StrategyDefine your objective and audience Understand your new generation of digitally-savvy consumersListen. Listen. ListenSimplify Products. Processes. Language.Campaign Optimization Content Marketing & Thought Leadership.

Example of campaign optimizations9

Creating Social Media marketing StrategyEvery Social Media channel is different. Give customers greater control in key journeys Involve.Create offers they cant resist - Use Tripwires. Listen. Engage. ListenPrecise Targeting

Creating Futuristic marketing StrategyEvery new channel can be used for marketing PokeMon Go Build empathy for customers. Anticipate customers emotional highs and lowsEmbrace Customer Advocacy.Search Alerts.Seek. Observe. Adapt.

Embrace customer advocacy to stay relevant. Customers want to feel like more than a seriesof transactions they want to feel valued and understood.38 Smart insurers deploy mobile to stayrelevant in their customers moments of need, whether by allowing them to buy travel insurance aminute before hopping on a plane or to find a highly rated doctor who charges reasonable prices.39Mass Mutual is creatively searching for the best way to connect with people under age 40, whorarely think about life insurance. Its Society of Grownups offers financial education on a broad arrayof topics from budgeting to investing in wine. There are no sales pitches. Instead, Mass Mutualsimply wants to understand how people benefit from what they learn and how the insurer canaddress their needs and wants.4011

Creating predictive marketing StrategyBlend human and digital touchpoints Invest in cross-channel data to ease handoffs between touchpointsBuilding Insight generators rather than data grabbers. Connecting the Dots.Observe. Understand. Ask. ListenResponsive & Agile Marketing - ClickBaits

Search. Connect the dots. Build insights. Go to marketData always narrates a story. The stronger the relationship between what you needed to know for your business and what you obtain from market research, the stronger will be the narration of the story. The stronger the narration, the better will be the action from what you discover. And you definitely know if the market research is done right or wrong based on whether the data connects the dots for you & inspires you to move or does nothing at all.

Thank youTweet me @subhendupatnaik