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7 rules a Fintech must follow to succeed with its marketing strategy

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30-second summary:

  • Building a quality product is the first step toward success in the Fintech industry, and deploying the right marketing techniques stands as the greatest challenge marketers face in growing their product reach in an increasingly saturated market.
  • There are four business metrics that are guaranteed to help Fintech companies orient their marketing techniques. Those are: cost per customer acquisition; average value per customer; percentage of active users; and virality coefficient.
  • Fintech companies must strive to understand their clients on a deeper level, by way of their careers, social channels, hobbies, and interests, even including what they tend to search for on the web.
  • Social networks are the ideal channels to connect with customers. Focusing on helping rather than selling is essential to building trust and loyalty between the company and the user.
  • A rewards system is not only a way of capturing users, but it is also a way of building customer loyalty and rewarding them for their contribution to the project. 

You don’t need to be the Wolf of Wall Street to have heard the term Fintech floating around. Yet many are not actually aware of what the term means, or what kinds of products or services fall under its umbrella.

This is because the Fintech landscape encompasses a broad range of businesses, though they usually share some commonality as digitally-oriented financial products and/or services.

Fintech companies seem to be the way of the future — the Bitcoin boom and overall rise of digital assets made that clear. Global Fintech funding has skyrocketed in recent years, reaching $ 100 billion in investments.

This begs the question: How do Fintech’s finest ideas blossom into successful companies? How do they ultimately join the “100 billion?” A strategic marketing plan is the answer. 

Building a quality product is the first step toward success in the Fintech industry, and deploying the right marketing techniques stands as the greatest challenge marketers face in growing their product reach in an increasingly saturated market.

An innovative product and/or service in the market can greatly leverage the power of marketing, but in Fintech, there are no secret recipes or magic wands. What we do have is a list of seven rules that will enable a Fintech startup to reach new heights of success.

1) Measure, measure, measure!

First and foremost, there are four business metrics that are guaranteed to help Fintech companies orient their marketing techniques. Those metrics are cost per customer acquisition, average value per customer, percentage of active users, and virality coefficient.  

Increasing return on investment and scalability are the ultimate goals of any startup, Fintech or not. In addition, the virality coefficient measures the likelihood of the product to be recommended, helps reduce the cost per acquisition and increase the return on investment.

The percentage of active users indicates the success of the product in the market, which is the most complicated goal to achieve today for any startup. All company departments must be aware of their importance and focus on constantly improving these four business KPIs. 

2) Customers must be at the center of decision making

Forming an emotional connection with the ideal customer is the basis for building a well-focused marketing strategy.

Fintech companies must strive to understand their clients on a deeper level, by way of their careers, social channels, hobbies, and interests, even including what they tend to search for on the web.

The customer journey, which plays an integral role in every company’s success, can be broken down into five stages: awareness, consideration, acquisition, loyalty, and virality.

Having a customer actually help build a specific product or service through their participation is crucial in creating a truly collaborative product and humanized brand. 

3) Public relations: Otherwise known as the best friend of brand awareness

A Fintech company is usually a visionary project that aims to accelerate the economy of the future, an economy much more personalized and profitable for the people.

It is an optimistic aspiration, that garners interest from journalists, as representatives of the greater audience. The press allows companies to present and explain their “baby” in-depth and receive great coverage in a way potential new customers can understand, become enticed, and hopefully hooked. 

4) Using social networks to humanize Fintech brands

The future of Fintech brands is human. Although chatbots, artificial learning, and automation help companies deliver fast service and a customer-centric experience, in a historically boring and complicated industry, speaking to people in a language they understand is important.

Social networks, in this case, are the ideal channels to connect with customers. Focusing on helping rather than selling is essential to building trust and loyalty between the company and the user.

This is critical when creating a social media strategy that generates leadership within an industry that relies on strong customer relationships.

5) Machine learning to find Fintech customers

The use of machine learning (ML) or artificial intelligence (AI) is circulating in the Fintech space. 

A system based on machine learning, like the Google universal app campaign, can be extremely beneficial, as it allows companies to find a target audience among a large reach, allocate budgets in the channels where the target is located, optimize messages, and meet customer needs.

6) The referral program aka the most exclusive membership in town

Customers are the best brand ambassadors for companies whose messaging may appear a little confusing at first. A referral program unleashes a source to evangelize the product and/or service, by rewarding a customer monetarily for bringing a friend.

This channel can give Fintech companies a continuous flow of new customers and today accounts for 40% of total acquisitions. A rewards system is not only a way of capturing users, but it is also a way of building customer loyalty and rewarding them for their contribution to the project. 

7) Despite the ‘boring’ Fintech sector, creativity is key

The Fintech industry has always prioritized innovation and retains a highly technological marketing approach.

In recent years, the industry has seen some examples of companies that have gone one step further in their marketing strategies to make creativity a differentiating point, as MoneySuperMarket did in its #EpicStrut campaign.

Monzo the digital mobile bank took the same route with its marketing campaign titled, Disrupting Marketing with Radical Transparency. Rather than hiding terms and conditions and speaking in financial jargon, which is common in the traditional banking system, Monzo grounded its campaigns in “radical transparency.”

Instead, Monzo focused on communicating with its customers openly and honestly, treating them like people, rather than just bank accounts.

Conclusion

The marketing world, unfortunately, can be kind of cloudy in terms of what will exactly work for a certain product or service at a given time.

What remains clear is contrary to popular belief, a strategic and creative marketing plan does have a place within Fintech companies, and will leverage them as industry leaders.

Whether it’s your first Fintech endeavor or an already established company, these seven rules can take any Fintech startup to the next level. 

Laura de Castro Braulio, Head of Marketing at 2gether, the first crypto-focused challenger financial platform, has over eight years of experience working for startups in the expansion phase, leading the growth strategy of companies. She began her career specializing in digital marketing, and her experience at agencies in the industry have allowed her to master digital marketing in various sectors, including food, health, digital products, fintech, and insurance. Her skills and entrepreneurial spirit have enabled her to lead the growth strategy for 2gether. 

The post 7 rules a Fintech must follow to succeed with its marketing strategy appeared first on ClickZ.



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6 Secrets to Achieving Work-Life Balance, According to HubSpot Marketing Managers

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Have you ever heard the phrase, “If you love your job, you’ll never have to work again.”?

Well, that myth is both false and incredibly misleading. In fact, research shows that the more passionate you are about a job, the more work you’ll actually do.

The truth is, a successful career takes time, initiative, and hours of hard work. And, while some companies enable employees to successfully execute on their roles within 40 hours each week, you’ll occasionally need to work later or longer to excel at other organizations

When you think you have the perfect job, you might tell yourself, “I clock in 70 hours a week because I’m doing what I love,” or “The family dinners I’m missing will be worth it in the long run.” But, while your role might not “feel” like a job, working long hours without making time for yourself eventually takes a major toll.

In fact, research shows that throwing yourself into work too heavily could cause stress, burnout, and — commonly — a lonely personal life.

Yes — Managers value employees who take initiative and put in extra effort when needed. However, your personal life is important to your physical, psychological, and emotional well-being.

So, how do you continue to excel in your career while making time for yourself and your loved ones?

The truth is, there’s no simple trick to achieving an ideal work-life balance. But, luckily, there are a handful of strategies that can get you pretty close.

To help you juggle your work and personal life, even if you work remotely, here are six tips that I collected from a few highly-motivated HubSpot marketing managers.

While the tips below work well for in-office employees, these can be especially helpful if you’re working remotely and finding it hard to separate your work life from your personal life.

6 Tips for Achieving Work-Life Balance

1. Set hard-stops for each workday.

Despite the thought that successful employees will work late into the night, studies show that you’re least productive at night. Additionally, working late hours can make you tired in times of peak productivity during the day.

If your role revolves around large projects or long to-do lists, you might be tempted to work late or on weekends to get more done. However, our marketing managers suggest setting hard stops so you don’t overexert yourself.

“When working on a long-term project, it’s very easy to keep going into the night thinking, ‘I can get the whole thing done today,’ which was obviously bad for work-life balance,” says Joe Mayall, an associate product marketing manager at HubSpot. “Setting hard stops for myself in the evening really helped me balance things out.”

“Set (and abide by) your own boundaries and accept that a task is usually not THAT important that it can’t wait until tomorrow,” advises Lisa Toner

To prevent any tasks that you can’t plausibly complete in normal work hours, Toner says, “You should manage expectations with your manager about how much can actually be done during business hours.”

When you’re working remotely, setting hard stops can be even more important. In a recent post, my blog colleague Christina Perricone explained that knowing when to stop working is a common struggle of remote employees who usually work where they live.

“Since you miss out on the social cues to head out for lunch or end the workday that are inherent in in-office settings, you have to create them,” says Perricone. “Set calendar appointments for lunch or a walk or a midday workout. Otherwise, you might find yourself sitting in front of your computer for 10+ hours a day.”

2. Make time for self-care and breaks each day.

Whether you’re working remotely or in an office, you can take steps towards managing your personal life without getting distracted from work. If your schedule allows, one way to do this is by blocking time for breaks or short self-care activities, such as taking a walk, on your calendar.

“Schedule personal things in your calendar like workouts, phone calls with family or friends, or coffee breaks. Then honor those commitments. This will force you to take a break in your workday and do the things that will recharge and fulfill you,” says Jennifer Stefancik, a marketing manager in our acquisitions department.

“When I get back to work after doing something personally fulfilling, like going on a run, I always feel more focused and energized.” Stefancik shares.

3. Be transparent with your manager and colleagues about your personal-life boundaries.

While you need to set work-life balance boundaries for yourself, you should also be transparent about boundaries you’ve set with your team or manager.

One way to do this is by noting your work and off-work hours on your company’s internal calendar. Additionally, you should also talk to your manager to come up with a schedule that enables you to experience and manage important moments in your personal life.

One HubSpot manager who’s transparent with his team and creates a public schedule to embrace his life as a parent is Victor Pan, HubSpot’s Head of Technical SEO.

“I cherish the small talk I do when I drop off my daughter at school and with other parents. To do this, I talked to my manager about blocking out time in my work calendar — which is shared externally to my peers and colleagues,” Pan explains.

However, Pan notes that establishing a flexible schedule with managers won’t always be doable at other companies.

“Being able to engage in work-life design is a privilege for teams with safe spaces, but it’s also something someone engaged in part-time work can consciously control,” says Pan. “At the end of the day, we’re here to make the most out of the time we have given to us.”

4. Prioritize and audit your to-do list.

Along with establishing a transparent schedule that fits in both time for life and work, you can prevent yourself from instances where you’ll need to work overtime by taking on prioritization tactics and auditing your to-do list to ensure that you’re working efficiently.

“So many of us get bogged down by never-ending to-do lists and as you check off one item, three more gets added. In today’s world, it’s more important than ever to focus on the high impact activities and reduce or cease the activities that do not drive significant results,” says Toner.

To help her prioritize her tasks so that the most important items fit smoothly into her work hours, she draws out an “Impact/Effort Matrix”: a four-by-four chart where you list all your tasks on scales related to the effort needed to complete them and the impact they’ll create.

Once she’s done filling out her matrix, Toner follows these steps:

  • Review the activities in the high effort low impact bucket, and assess if you can simply stop doing them — these are usually not worth your time.
  • Take the activities in the low impact, low effort bucket. Determine if you need to keep doing them or if they can be delegated to someone else.
  • Look at the high impact, high effort bucket and research more efficient ways to achieve the same results. If so, move those items into the high impact, low effort square.

When you’re done using the matrix, “you should have one to two items remaining in the high effort, high impact bucket that you continue to work on over a longer period of time,” says Toner.

“Everything in the low effort, high impact bucket should be the work you prioritize,” Toner adds. “By doing this exercise regularly you can learn if your to-do list is actually worth the time it takes to do it. Then, you can decide if you should stop, delegate, improve efficiency, or keep going.”

5. Schedule time off as needed.

In a recent blog post where HubSpot marketers revealed how they prevent burnout, Irina Nica, a community and influencer relations manager, noted that taking time off can help you eliminate stress while also adhering to your personal life.

“I was one of those people who would rarely take any time off because ‘there are so many things to be done,'” Nica said. “Even when I did, I still let some work slip into my day, even if that meant only checking my emails.”

“Over time, I’ve changed my views on time off and it’s been great for my productivity,” Nica explained, adding, “I learned to disconnect in the evenings and during weekends. Now, aside from the regular summer and winter holidays, I take long weekends off every now and then. That helps me relax and refreshes my perspective.”

Taking time off doesn’t necessarily need to be devoted to vacations or travel. For example, if you live with family, time off can be used for staycations, where you stay in and spend time with loved ones. Or, if you live alone, you could simply take a few days off to relax, video call friends, binge some TV, and perform self-care. 

6. Physically separate work from your personal life. 

If you occasionally or regularly work from home, the lines between work and life can get incredibly blurry. Because of this, you might find yourself working too late or thinking about work when you try to relax in your home. Luckily, one strategy that can help with this is creating a workspace for yourself.

“Try to designate a space in your home exclusively for work,” Perricone advised in a recent post. “Taking calls from your bed or writing memos in front of your TV likely won’t be very effective. You need a space that allows you to focus and be productive. That way, you can keep your work and home life as separate as possible.”

Finding a Good Balance

While the five tips were all slightly different, they all followed just a few major themes that you can keep in mind when aiming to achieve a work-life balance:

  • Time off: Everyone needs breaks or time to disconnect from work. Even if you work remotely, be realistic with yourself about when you’ll need a break from work and schedule break times in your day or longer PTO accordingly.
  • Setting boundaries: Schedule hard stops and breaks for yourself, while also setting boundaries related to your work hours with your team and manager.
  • Prioritization: Recognize the tasks you can save until tomorrow and how to complete your weekly to-do list more efficiently.
  • Separate work from life at home: When you work from home, the lines between work and life can get blurry. Be sure to use the tips above to help separate your work life from your personal life at home. You can also find more detailed tips in this remote work post.

To learn more about how to be successful in the marketing workplace, check out these blog posts on avoiding burnout, productivity, and how to stay creative under pressure.





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Top 10 Cincinnati News Websites To Follow in 2020 (US State)

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Top 10 Cincinnati News Websites
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1. Cincinnati Enquirer

Cincinnati, Ohio, United States About Website Enquirer Media has been providing news, sports and entertainment coverage in Greater Cincinnati for 174 years. Breaking Cincinnati news, traffic, weather and local headlines from The Cincinnati Enquirer newspaper. Frequency 25 posts / day Website cincinnati.com
Facebook fans 172.3K ⋅ Twitter followers 146.6K ⋅ Instagram Followers 50.3K ⋅ Social Engagement 310 ⋅ Domain Authority 83 ⋅ Alexa Rank 25.1K

2. WLWT

WLWTCincinnati, Ohio, United States About Website WLWT.com is leading the way with Cincinnati breaking news, weather and important local news coverage. Look to WLWT for political coverage, viral videos and more from Cincinnati’s NBC affiliate. Frequency 30 posts / dayAlso in Ohio News Websites Website wlwt.com
Facebook fans 401.4K ⋅ Twitter followers 132.4K ⋅ Social Engagement 481 ⋅ Domain Authority 78 ⋅ Alexa Rank 49.3K

3. WCPO 9

WCPO 9Cincinnati, Ohio, United States About Website Get Local News, National News, Video, Government and Politics News, Business News, Crime and Justice News, Education News, Health News, Ohio News, Kentucky News, US and World News, Obituaries, Traffic, Sports, Cincinnati, Ohio, Northern Kentucky, Indiana, WCPO 9 News on WCPO.com Frequency 13 posts / day Website wcpo.com
Facebook fans 311.8K ⋅ Twitter followers 199K ⋅ Instagram Followers 44.1K ⋅ Social Engagement 564 ⋅ Domain Authority 80 ⋅ Alexa Rank 67.8K

4. Soapbox Cincinnati

Soapbox CincinnatiCincinnati, Ohio, United States About Website An online publication about the people and places moving Cincinnati forward with news about tech, entrepreneurship, arts, innovation, neighborhood development news and more. Frequency 2 posts / week Website soapboxmedia.com
Facebook fans 7.8K ⋅ Twitter followers 14.4K ⋅ Instagram Followers 1.6K ⋅ Social Engagement 41 ⋅ Domain Authority 52 ⋅ Alexa Rank 1.2M

5. Cincinnati CityBeat

Cincinnati CityBeatCincinnati, Ohio, United States About Website CityBeat Cincinnati provides updates on the latest News, Voice, Music, Arts & Culture, News, Food & Drink. Frequency 23 posts / week Website citybeat.com
Facebook fans 64.2K ⋅ Twitter followers 45.1K ⋅ Instagram Followers 50.3K ⋅ Domain Authority 63 ⋅ Alexa Rank 204.5K

6. 91.7 WVXU

91.7 WVXUCincinnati, Ohio, United States About Website 91.7 WVXU connects you to a world of ideas with NPR, local news from our award-winning news team, and music/entertainment programs heard only on public radio. WVXU keeps you up to date on current happening 24/7 in Cincinnati. Frequency 20 posts / day Website wvxu.org
Facebook fans 12.6K ⋅ Twitter followers 24.6K ⋅ Domain Authority 64 ⋅ Alexa Rank 264.3K

7. Cincinnati Magazine » News

Cincinnati Magazine » NewsCincinnati, Ohio, United States About Website Cincinnati Magazine is the definitive guide to living well in Greater Cincinnati, connecting sophisticated, educated readers with the region’s most interesting people, cultural issues, food, arts, fashion, news and history via print, digital, and events. Frequency 3 posts / week Website cincinnatimagazine.com/categ..
Facebook fans 25.9K ⋅ Twitter followers 41.6K ⋅ Instagram Followers 36.8K ⋅ Social Engagement 242 ⋅ Domain Authority 59 ⋅ Alexa Rank 425.3K

The post Top 10 Cincinnati News Websites To Follow in 2020 (US State) appeared first on Feedspot Blog.



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The High-Tech CMO’s Marketing Imperatives For 2020

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Everyone is talking about the importance of customer experience across the marketing landscape, and CMOs in the high-tech vertical seem to be feeling the most pressure. In high-tech, customer experience is fundamental, as it relates to the experience that a company’s products deliver to its users. But these days, customer experience must extend well beyond products to encompass every touchpoint along a customer’s path to purchase and beyond — and must do so in real-time.  

High-tech CMOs are expected to make the total customer experience come alive, but the hurdles to these end-to-end experiences are significant. Most high-tech companies today operate in a far more complex environment than other verticals because they are global, multi-product and often cut across both B2B and B2C organizations. Furthermore, high-tech enterprises tend to be disproportionately affected by new data privacy laws, all while maintaining a faster pace of change than any other vertical on the planet. 

In pursuing their current transformation agendas, high-tech CMOs are challenged by budget constraints, security risks, lack of resources and an explosion of tech vendor options, to name a few obstacles. But the solution to creating a great total customer experience is not about finding more money or choosing the right technology, but rather prioritizing initiatives for the greatest long-term gains and making the most out of what high-tech marketing departments already have. Let’s take a closer look at the current imperatives for marketers operating in the high-tech space today. 

Total Customer Experience Requires Identity

The journey toward a seamless and immersive customer experience doesn’t happen overnight, but high-tech CMOs can make significant progress in the short-term if they commit to mastering customer identity within their organizations. In high-tech especially, identity is a crucial linchpin to delivering a holistic and relevant customer experience, particularly given disparate data sets and privacy law limitations on data use. As the age of the cookie comes to an end, it is critical that a new and stronger foundation is established for effective cross-channel, cross-device marketing that can lead to true competitive advantage. 

Having a single identifier to recognize customers and prospects across the marketing and database spectrum is essential to remaining relevant in today’s fast-paced tech space. High-tech companies have a number of options for pursuing customer identity. Whether they choose to manage it in-house or through vendors, it is vital for CMOs to seek identity partners that are agile and are flexible of the high-tech industry. That means seeking global partners that have expertise across B2B and B2C businesses, a deep understanding of privacy laws and hybrid models that can accommodate the spectrum of outsourcing and in-housing preferences. 

Injecting Flexibility Into Sourcing Strategies 

Above all, high-tech CMOs must seek solutions that allow them to optimize links across their disparate data sets to create a layer of persistent IDs that can act as a strong connecting foundation for an end-to-end customer experience. That means simultaneously transforming a high-tech organization’s sourcing strategy to inject more flexibility and reactivity into this important process. 

Due to the global, multi-faceted, multi-product nature of high-tech businesses, most organizations already engage in rationalization exercises that attempt to bring more consistency to their sourcing abilities. The next challenge is to find partners that can enable organizations to not just rationalize costs and operate globally, but that can also provide options and engagement models that help them transform in a flexible and modular way. After all, the only constant in the high-tech vertical is change. Partners to these companies must likewise be able to adapt constantly and show transformation progress, while simultaneously being able to ensure “business as usual” is getting done. 

Today’s high-tech companies are built on foundations of innovation. Because they were the first movers in adopting comprehensive tech stacks, they face an even greater burden when it comes to transforming these stacks to enable a great total customer experience. As competition increases, high-tech CMOs must prioritize the rationalization of both costs and vendor lists. In doing so, they must set their sights on achieving not only scope and depth in their ability to understand customer identity but also the competence and flexibility to keep pace in a landscape where the pace of change continues to accelerate. 


Sylvain Panzani is Merkle’s Growth Strategy and Operations Officer. Previously, he served as and SVP and Client Partner in the High Tech Vertical Group, focused on delivering value for a selected set of B2B and High Tech customers. He has extensive experience in both strategy consulting and operational marketing in multinational B2B and B2C corporations. Sylvain has served in multiple leadership and operational marketing roles in diverse areas such as Business Intelligence, Field Marketing, Marketing Operations, Campaigns and Programs, for both B2C and B2C. He is the former head of Marketing for France at Dell for Consumer and Small Business, and of European Marketing Operations for Dell. 

Uday Nayar is the Vice President of Client Strategy at Merkle. He serves as the Americas strategy lead for Merkle’s Performance Media and CRM capabilities. Prior to joining Merkle, Nayar held positions in digital strategy and account management at large agencies like OgilvyOne and Digitas, where he led Fortune 500 client engagements across Technology, Financial Services, Insurance, and Retail industries. Nayar holds an Economics degree from the Delhi University, and an MBA from the Simon Graduate School of Business, University of Rochester.

 



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