Building future ready marketing strategy for businesses in fin tech space

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Transcript of Building future ready marketing strategy for businesses in fin tech space

Page 1: Building future ready marketing strategy for businesses in fin tech space
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ABOUT SUBHENDU

• Worked 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 Rourkela

• Business Advisor – Start-ups & Enterprises on Go To Market strategy, Marketing Strategy & Innovation

• Co-Founder – Hyderabad Marketing Meetup & The Content Writer Connection

• Winner of Top 100 Most Influential Global Marketing Leaders by World Marketing Congress & CMO Asia.

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AGENDA

• FinTech Today• Going digital is inevitable• If you are FinTech Startup..• Creating Marketing Strategy • Q&A

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FINTECH - INTRODUCTION• Lending:

• Technology-enabled financial platform that provides loan financing to small- and medium-sized businesses

• Personal Finance:• Free credit and financial management platform for US

consumers available on the web and major mobile platforms• Payments:

• 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 easy• Equity 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

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GOING DIGITAL IS INEVITABLE

The 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.

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Be FuturisticLeverage BI & Predictive Metrics Be Social Media SavvyBe Customer Centric

IF YOU ARE FINTECH START-UP… YOU NEED TO …

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HOW SHOULD YOU THEN MARKET YOURSELF?

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STEPS TO DO MARKET RESEARCH

• Monitor 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 instruments

• Check for external validity and not just in the labs

• Build Buyer persona ( Applicable for B2B, B2C, Startups and Enterprises)

• Identify Pain points and then map your solution

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CREATING CUSTOMER CENTRIC MARKETING STRATEGY• Define your objective and audience • Understand your new generation of digitally-savvy consumers• Listen. Listen. Listen• Simplify Products. Processes. Language.• Campaign Optimization • Content Marketing & Thought Leadership.

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CREATING SOCIAL MEDIA MARKETING STRATEGY• Every Social Media channel is different. • Give customers greater control in key journeys – Involve.• Create offers they can’t resist - Use Tripwires. • Listen. Engage. Listen• Precise Targeting

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CREATING FUTURISTIC MARKETING STRATEGY• Every new channel can be used for marketing – PokeMon Go • Build empathy for customers. Anticipate customers’ emotional highs and lows• Embrace Customer Advocacy.• Search Alerts.• Seek. Observe. Adapt.

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CREATING PREDICTIVE MARKETING STRATEGY• Blend human and digital touchpoints • Invest in cross-channel data to ease handoffs between touchpoints• Building Insight generators rather than data grabbers. • Connecting the Dots.• Observe. Understand. Ask. Listen• Responsive & Agile Marketing - ClickBaits

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SEARCH. CONNECT THE DOTS. BUILD INSIGHTS.

GO TO MARKET

• Data 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.

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THANK YOU

Tweet me @subhendupatnaik