Navigating Fintech Marketing: Strategies for Building Trust and Brand Awareness

Anne Laffin: 00:00:00

Look, my 2 cents in this is that don't go to an influencer

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for your, like your end all, be

all advice on your finances, right?

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Talk to a professional, get

actual real advice from them.

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Brett: Mm, that's good.

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And welcome to a new episode of

Digital Coffee Marketing Brew.

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I'm your host, Brett , please

subscribe to this podcast

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and leave a five star review.

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Really just help with the rankings.

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Let me know how I'm doing.

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But this week we're gonna

talk about FinTech marketing.

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Yes.

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The other side of marketing that is.

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To some people, a little boring, but it's

still very important because we all care

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about our finances, especially businesses.

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Anyways, I have Anne with me, and she's a

marketing problem solver, strategist, and

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content creator that helps entrepreneurs

and founders grow and amplify the

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inspiring work they bring to the world.

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And she's in, she has a.

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In trenches mentality comes from 20 year

marketing career, working with a variety

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of companies, large, small, clean startups

in the market, research, tech, financial

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services, and animal health industry.

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But welcome to the show, Anne.

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Anne Laffin: Hello.

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Thank you for having me.

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Brett: Yes.

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The first question is all my guest

is, are you a coffee or tea drinker?

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Anne Laffin: Coffee?

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A hundred percent.

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All the way.

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Once in the morning and in the afternoon.

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Brett: Got you.

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Is it more of a, just gimme whatever

coffee's there, or are you like specific

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on what coffee you actually drink?

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Anne Laffin: Okay, so if I'm at home,

it's whatever coffee happens to be here.

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But if I'm out, I definitely

have a Starbucks order.

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I have a Dunking Donut order.

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It it's a little dependent I suppose.

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I love coffee.

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Brett: Nice.

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Now you have a brief

summary of your expertise.

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Can you give our listeners a

little bit more about what you do?

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Anne Laffin: Yeah.

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So right now I run a marketing

consultancy for early stage startups.

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So we're talking about early

companies that have maybe zero

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ish, half, half an employee perhaps

to to about 10 to 20 employees

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in the series A, series B, prese.

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Seed round stage.

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I help with marketing strategy,

messaging, execution, little bit of

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column A, a little bit of column B.

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It's a lot of fun.

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Brett: Nice.

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And so what are some of the

biggest challenges in marketing

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FinTech products or services?

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Anne Laffin: I think a lot of

times in FinTech companies lean

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on features and features only.

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And to your point in this

wonderful intro today, people are

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concerned about their finances.

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There's a lot of, I think financial

tumultuousness that is happening

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and it's a great time for FinTech

companies to be talking about benefits.

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As well as features, right?

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To be talking a little bit more about

how this ultimately affects your life,

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whether it's a consumer using the

product or even a financial advisor.

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I think it can be a challenge

to get the balance right.

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Brett: And is AI concerned since

a lot of AI is very public?

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And I've seen some financial

services are like, we got ai.

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And I'm like, wait a minute here.

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So how can you like market that

feature but also say that it, we've

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we're protecting your privacy, your

data because it's very important.

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I.

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Anne Laffin: I think if you want to

loop AI in, or you have looped AI in

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you, you just nailed it right there.

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You have to be very transparent about what

the security privacy features are that

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you have in place to make sure that the

information running through AI or whatever

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system that they have is not going out to

chat GPT or not going out to the masses.

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It should be very cleanly

kept behind a wall.

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And you should be able to very

easily explain how it's being used.

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I think if you can't do those

things, that is an accident and

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a bad accident waiting to happen.

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Brett: So how do FinTech companies

approach building brand awareness?

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I know you talked a little bit about

trust, but is there anything, because

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like you said, we could have all the

features in the world, but if no one knows

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who you are, it doesn't really matter.

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Anne Laffin: Yeah.

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I think just like with any brand, you

have to know where your audience is first.

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You have to know who you're catering

to, and once you know who you are

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serving, who you're solving problems for.

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Where do they live?

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Do they live on social right?

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Are they gonna be on Reddit all the time?

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Are they gonna be at conferences?

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And then plan your strategy or

outreach strategy around that audience

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and knowing where they're going

to be for early stage companies.

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At any early stage company, I definitely

lean heavily on content and the

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things that you own first, because

they frequently require a lot less

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budget and mobile of the startups

I work with don't have huge budget.

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So whether it's FinTech or not,

making sure that you are one, paying

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attention to where your audience is

and two, leaning on the resources you

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have access to easily it's is key.

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Brett: So how do you remain scrappy?

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Because, it's funny you mentioned.

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Lean budgets.

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'cause it feels like almost every business

in the marketing department is lean.

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Anne Laffin: Yeah, I definitely see

myself as a UA utility player, right?

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A Swiss army knight, someone

that can come in and do.

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Pretty much anything because

after 20 plus years, I think I

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have done just about everything.

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Obviously marketing is changing all

the time, so I'm sure some of you

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are like, but you haven't done a

ton of influencer marketing anyway.

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My, the point here is that I'm

scrappy because I like to come

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in and actually do the work.

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I don't just hand off a plan

and say, have fun executing.

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I can actually come in and do the

work of, for the plan that I've

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developed, and I'm happy to do it.

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And if I can't do it myself, I know a

ton of contacts that I can put my clients

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in touch with that can get it done.

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So that's why.

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Brett: Do you feel like

influencer marketing isn't as

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prevalent in the FinTech because.

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It feels like trust is the most important

thing with FinTech because again, you

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are dealing with financial records

and that's very important to people.

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Anne Laffin: There are definitely,

there's definitely influencers

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in the financial space, right?

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Whether they're on TV talking

heads, you for sure they exist.

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And it can, it's, they scare me a

little bit, some of them, right?

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But I think that whether

you are a pet parent.

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Doing a video for the latest, pet chew or

pet toy, or you are a financial advisor

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that is sharing some of the great advice

they have to their potential customers.

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I think both can be really valuable, but

I think you've already nailed it here.

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The key is building trust, right?

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I think if you come out of the

gate as an influencer trying

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to be hokey or I don't like.

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Feel famous or whatever.

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You're like, you have to have the right

motivation to come out and do that type

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of work because particularly in financial

services, I think it, it falls flat

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eventually if people don't trust you.

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Brett: Plus for influencers, you gotta

say a lot of hard things for finances

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of getting your finances in order.

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Look at David.

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David Ramsey's probably the,

one of the more bigger ones.

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He's the one that's you gotta

get your finances order.

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You have Rich Dad, poor Dad,

who is on the opposite side

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saying that you can use debt.

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To help build your business.

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You really gotta pick and choose

which one you wanna follow.

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'cause they all almost

differ from each other and.

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Don't agree with each other.

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Anne Laffin: Little scary.

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Look, my 2 cents in this is that

don't go to an influencer for

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your, like your end all, be all

advice on your finances, right?

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Talk to a professional, get

actual real advice from them.

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You can maybe see the en entertainment

value that comes with influencers.

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You could get ideas, right?

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Like it's also how I use track GPT.

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It's great for sparking ideas

in conversation, but that I

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might not go off and change my

investment strategy based upon.

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What I hear on TV or even a podcast.

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Brett: Gotcha.

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And what marketing strategies

have you found that actually is

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great for acquiring customers?

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Because like I said, you, for FinTech,

you need to acquire customers and you

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need to have their financial records.

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So what have you found that works well?

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Anne Laffin: Again, looking at the,

where my consumers were financial

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advisors webinars actually were.

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Worked insanely well at getting new

leads, partially because advisors

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need continuing education credits.

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And so if you can offer really powerful,

fantastic webinar content that they need,

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brings in a lot of good leads in the door.

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Now look, just because somebody watches

your webinar doesn't mean they're

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gonna convert in the next 15 minutes,

but it does give you a new pool of

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marketable advisors or marketable

audience that you can now reach to.

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Content has also been just extremely

powerful, whether that's through

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thought leadership, social media, or

even some, like native advertising.

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I found that's all worked really nicely.

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It just building awareness and some

credibility more than anything else.

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Brett: And even to like conveying

this to your bosses, it probably

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takes time for webinars to build that.

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From potential customer to actual

customer, just like podcasting

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takes time for a first listener

to an actual like lover or fan.

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Anne Laffin: A hundred percent.

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And I, one, you have to be able to,

if you're gonna do a webinar series,

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just like with podcasting, all right?

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You have to have kind of a library

of topics or content that you

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think you wanna tackle and be

able to produce them regularly so

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that people know what's coming.

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And then you need a plan

to nurture those people.

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That come in from the webinar, right?

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How are you gonna follow up with them?

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What are you gonna send

them after the fact?

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How, what are you gonna send

them two months after the fact?

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It's not just even producing the content,

it's the whole strategy around what we,

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what do we do with these people next?

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So key

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Brett: and how do you balance that

educating customers with a con,

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with the complex financial products.

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Because, finance is always complicated

and not everybody understands.

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All of it.

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So how do you balance that with

keeping the message simple?

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Because people want simple,

but they also want compelling.

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So how do you balance all that?

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Anne Laffin: That's a great question.

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I think that there is again, depending

on your audience, so if we're talking

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about consumers mom and pop investor, it

definitely needs to be, and also depending

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upon the channel, sorry, I know it all

that the, it's so annoying to hear.

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It depends.

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It does depend though.

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If you have savvy consumer investors,

you can put a little more technical

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information into content that's

produced, whether it's an article

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maybe that you submit to an online

publication or blog posts that

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you're creating for your business.

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And then promoting if that's not the

case and those aren't your consumers,

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you need to make it digestible.

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And I think, and learning, how

much content to share at once.

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Is key there so that you're

not overwhelming them and

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they're not tuning you out.

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Now if you're working with financial

professionals, I think almost the opposite

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is true in the sense that they need to

know that you know your stuff and that

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you have street cred and credibility

and know how to walk through the pieces,

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the technical pieces of your, let's

say your financial planning, service.

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Service.

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To know that your platform has

the chops to help them out.

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I think it's, again, it goes back, you

gotta know your audience to know how

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much to feed them and how much to or

not to feed them in terms of content.

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Brett: And would you.

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Technically, you just put 'em into

buckets like these are your regular

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customers that don't really know much and

don't understand lingo in the industry

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specifically, and then your financial

advisor, everybody else, you could get

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away with more lingo than let's say

your regular customers that have no

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idea what you're talking about, and

it's all a different language to them.

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Anne Laffin: But it's

even, it's, you know what?

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I think that's definitely one

approach to it and it's important,

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the lingo piece, actual vernacular.

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But even think about the approach

again with mom and pop investor.

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I might want a story.

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I.

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I might do better with this

information in a story format,

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something that's relatable to me.

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Whereas an advisor might want the facts,

they might just wanna know these features

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will help you do this with your business,

or something to that effect, right?

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A, maybe a story isn't

exactly what they need.

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Maybe they need a case study.

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I don't know.

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I shooting a little from the hip here,

but, so it's not even the lingo, it's

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how you actually present ultimately

that information to them to matters.

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Brett: So should you put your

content marketing different buckets?

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Maybe it's maybe this

could be for both people.

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Maybe this is just for your customers, and

then maybe this is just for the financial

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advisors, but you could have some for both

and then others just completely spit off.

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Anne Laffin: For sure.

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I think yes.

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Brett: Got you.

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And then where can you leverage

the analytics of this to

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optimize the marketing campaigns?

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Because we all can create campaigns

and then go, wait a minute, this isn't

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working as well as I thought it would.

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Anne Laffin: Yeah.

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Look, part of the joy and the pain

of marketing is when things don't, is

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the experimentation of it and learning

from the things that don't go well.

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And, I've definitely had campaigns

where I sent something out and

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was like, why did this do well?

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And it was a shock.

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And so I think when that happens,

depending on what it is that you've

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sent to, whether it's an email or even

a webinar or whatever, I think it's a

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good time to just sit down after and

be like, okay, was it the open rate?

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Was it the click rate?

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Was there not enough attendance?

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You have to like to stop and

ask some important questions of

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what actually didn't do well?

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I know.

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And then see sometimes too, do you

have anything else to compare it to?

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Was there a, did you run any content

with a similar topic at some point?

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Did it do better, worse?

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I.

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And then see if you can make tweaks.

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I do this a lot actually at a side note

with my own LinkedIn content, and I'll

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take the same post, which maybe did poorly

one day I'll tweak a couple words and

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then run it again on a different day and

we'll see potentially a different result.

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So I think sometimes when you look at

analytics, you have to be willing to,

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one, ask yourself some hard questions,

make some tweaks, and try again.

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I think that's, I think

that's the best you can do.

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Brett: And do you have any best prac

practices for compliance and regulatory

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considerations in FinTech marketing?

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Because that's the other side of it,

is that the B2C, which doesn't do

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any financial regulatory, you can sh

shoot from the hip a little bit more.

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But from like medical and like

FinTech, you have a lot of regulatory

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that you have to understand.

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Anne Laffin: That's true.

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So there are.

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Like different software.

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I'm thinking of social media in particular

that can help track the social media

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posts that you're putting out there.

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There's different types of it like, or

compliance services or software that can

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really help keep you in line and keep you.

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Just in accordance with

where you need to be.

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I would say too, make sure depending

on what kind of business you

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are, again, if you're a larger

FinTech company, you likely have

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lawyers already involved, right?

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They're already looking over your stuff.

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Perhaps you have regular compliance

review of documents that go out.

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I remember back in the day, I used

to work for a large tam and any.

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Any content that we wrote, how to go get

FINRA approval and that would take weeks.

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I think one, you got it to your

point, you have to know your

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audience here again and know, like

where are the legal lines drawn?

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And make sure that you are just

utilizing, I think, the appropriate

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tools that are out there available.

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There might be more than people think.

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Brett: And how do you approach

personalizing and targeting your campaigns

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and strategies in FinTech marketing?

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Is it just the regulatory or the

financial advisors and then the mom and

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pop, or is it a little bit more split

and or do you get a little bit more

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personal with the regular customers

and less, more professional with the.

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Financial advisors or is it a

mixed bag because everybody has

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different personalities and you're

just kinda I think most people like

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this, so I'm gonna try do that one.

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And I think most people like

this, so I'm gonna try that one.

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Anne Laffin: Yeah, it's a good question.

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So generally speaking, the financial

services companies that I've worked with

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all cater towards, they're all B2B, so

they all work with financial advisors.

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Almost exclusively now, there may be some

content that you have to make that the

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advisor could hand out to their clients.

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So there is some B2B, B2C, but

for the most part we're dealing

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with a financial advisor audience.

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And within that you have

registered investment advisors.

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Like you've got broker dealers, like there

are their own segments that are with,

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within that realm of a financial advisor.

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And they all work very differently

and think very differently too.

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So I think, how you approach them

also depends upon how much flexibility

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they have within their organization.

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But I think if you have an independent

advisor that you can maybe be a little

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more casual with or send out, have more

flexibility to send things their way,

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they're gonna have different needs.

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I think that's how you

at approach that bucket.

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I think if you have a broker dealer

that's definitely more constrained

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and refined as to what you can send

them, you have to keep that in mind

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as you're sending them content.

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And then obviously if you are creating

content for the end user it has to be

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unbranded and likely more casual and

definitely less technical than whatever

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you produce for financial advisors.

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So hopefully that answers your question.

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It

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Brett: does, but what is the, what

emerging technologies or trends do you

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think will have the biggest impact?

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I know we talked about ai, but is

there any other, like actual, other

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emerging trends that you see for

technologies that are coming in for the

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FinTech marketing in the coming years?

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Anne Laffin: I think there

has still been this trend of

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larger companies scooping up.

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Different smaller FinTech providers

and getting them under one roof.

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So is it one stop shop versus independent

partners that are working together with

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integrations And there still seems to

be this seesaw battle, I don't know what

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you wanna call it, of which is better.

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And I won't say I necessarily have

a favorite, but from what I hear,

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these larger businesses that are

scooping up smaller FinTech companies.

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The issues that they're seeing is

that it's a lot of clunky technology

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that wasn't made to be under one

roof is being mishmoshed under

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one roof, which isn't fantastic.

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And on the other side,

when you're independent.

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And have kind of partnerships, you still

have to build the integrations, right?

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So that's not necessarily seamless either,

but it does give you more flexibility to

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choose which providers that you work with.

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So that seems to be the

trend that I'm still seeing.

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I feel like it's been happening for a

while, but something to keep in mind

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as you're navigating FinTech for sure.

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Brett: And has the crypto effect done

anything for the FinTech marketing?

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We knew, we know we have blockchain slowly

being implemented within mainstream.

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It's not there yet, but is that

also the coming, emerging thing?

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I know Web3 was big for two

years and then AI came and

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nobody cares about Web3 anymore.

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Anne Laffin: It has not affected any of

the marketing I've done for any FinTech

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clients I in the last couple of years.

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It's not to say that it doesn't affect

someone, but I personally have not had.

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Any issues or, and or experience

having it come through any

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of the marketing I've done,

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Brett: got you.

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And how do you measure the

RO of your marketing or

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FinTech marketing initiatives?

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Is it basically awareness or

is it again, depending on what

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your actual initiatives are?

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: 00:19:20

Anne Laffin: Yeah, awareness is tough

unless you're doing actual market research

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to know where you are even to begin with.

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But I think, typically if

you're running a campaign.

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If it's, you need to look at are

we looking for registrations?

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Are we looking for sales?

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Are we looking for someone

to download a white paper?

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Who's downloading white papers?

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: 00:19:37

But are you looking for

someone to download something?

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So how you measure, I suppose it's

not always ROI, but it's just the

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effectiveness overall of your marketing.

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Did they do the thing we asked them to do?

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: 00:19:50

If the answer is no, then you know, you

have to go back and look at what could we

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change the experimentation piece again.

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If the answer is yes, then I think

that's where you begin to hopefully,

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feed the machine of, okay, our

efforts should pay off in sales.

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: 00:20:06

It's a little more complicated than

that, but I think that's how, all

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: 00:20:09

those different phases of the marketing

funnels should start to generate ROI

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: 00:20:14

when they're playing nicely together.

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: 00:20:15

Brett: What advice do you have for a new

startup, let's say in FinTech, trying

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: 00:20:20

to build that awareness into sales?

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: 00:20:22

What advice would you have for them?

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: 00:20:23

Because there's probably a

ton of startups going on.

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: 00:20:26

They're just trying to get

that little piece of the pie.

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: 00:20:29

So what advice do you have for that?

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: 00:20:32

Anne Laffin: I think you have to

really know what makes you different.

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Like, why is it you?

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: 00:20:37

Why is it your business?

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And how do you solve for enough

pain that your audience is feeling

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: 00:20:44

that they're gonna want you?

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: 00:20:45

You gotta be able to answer that.

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: 00:20:46

And if you, until you can, to me, if

you're just more noise in a noisy channel,

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Brett: and people listening to this

episode W Wing, learn more about you.

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So where can they find you online?

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: 00:20:59

Anne Laffin: You can

find me@finmarketingm.com

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or on LinkedIn where I live often.

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: 00:21:06

Brett: Any final thoughts for listeners?

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: 00:21:08

Anne Laffin: Yeah, I'm saying good luck

with the upcoming election and the changes

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: 00:21:12

I'm sure that we are about to see here.

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: 00:21:14

FinTech is a fun industry and

a crazy industry, but yeah,

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: 00:21:17

best wishes to everyone.

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: 00:21:19

Brett: Alright, thank you Anne for joining

Digital Coffee Marketing, bringing,

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sharing knowledge on FinTech marketing.

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: 00:21:24

Anne Laffin: Thank you for having me,

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: 00:21:25

Brett: and thank you for listening.

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: 00:21:26

As always, please subscribe

to this podcast on all your

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: 00:21:29

favorite podcasting apps.

425

: 00:21:30

We have a five star review.

426

: 00:21:31

It really does help with the rankings

and let me know how I'm doing,

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: 00:21:34

but join me next week as I talk

to another great thought leader

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: 00:21:37

in the PR in marketing industry.

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: 00:21:39

All right, guys.

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: 00:21:39

Stay safe.

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: 00:21:40

Get to understanding your FinTech

marketing if you're in that industry,

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: 00:21:43

or just your marketing strategies in

general, and see you next week later.