With trust, a company will attract customers and retain them for years. Without trust, failure is foreseeable—it is just a matter of time. Here’s what digital marketing for finance brands should prioritize to earn customers’ trust.
According to a McKinsey report, consumers consider trustworthiness and data protection nearly as important as price and delivery time. And they won’t buy from a company they don’t trust. This revelation makes one thing clear: Trust must be the core of any worthwhile fintech marketing. Otherwise, campaigns will repel potential customers and ultimately waste money.
For most fintech companies, however, positioning themselves as credible brands can be challenging. To make it easier, we share valuable tips for creating marketing campaigns that develop credibility and how a fintech digital marketing agency helps elevate brand authenticity. But first, understand why trust is a critical component of fintech marketing.
Why Trust Truly Matters in Fintech Marketing
Prospects will take their business elsewhere if a company isn’t trustworthy or doesn’t clearly communicate data protection policies. Statistics say 85% of consumers want to know data privacy policies before purchasing. And nearly 50% would consider another brand if a company is unclear about how it uses customer data.
Trusted fintech brands can grow without fee cuts, gimmicks, or special treatment for customers. The companies have to be good at what they do, of course, but thriving in the fintech industry is purely based on one simple concept: trust.
With trust, a company will attract customers and retain them for years. Without trust, failure is foreseeable—it is just a matter of time. Here’s what digital marketing for finance brands should prioritize to earn customers’ trust.
3 Tips for Developing Trust in Fintech Marketing
1. Build credibility with social proof
Reviews and testimonials work like magic in marketing because customers trust other customers. According to statistics, 68% of prospects trust customer reviews when making a purchase. This number makes online opinions the third most trusted source of product information.
Therefore, fintech brands should collect testimonials from current customers and include them in marketing campaigns. For example, they can post customer testimonials on their websites. The testimonials are even more effective when they are in video form.
2. Connect with customers emotionally through a compelling brand narrative
If prospects don’t trust a brand, they won’t buy from it. And if they buy, they won’t stay there for long as they move on to a competitor. One way to avoid this? Leverage the power of storytelling in fintech marketing.
Telling a compelling brand story that people resonate with helps potential customers understand a company and why it exists. When prospects relate to the ‘why’ of a brand, they develop an emotional connection with the company. The result? Increased likelihood of prospects making a purchase.
That said, one can only tell a compelling brand story with sufficient knowledge of:
The target audience The product or offer being promoted What the company stands for (values, reasons for existence, and the brand’s positive impact on the world)3. Invest in content creation to give customers what they want
Another way to build customer trust is to serve content that meets their needs or resonates with their pain points on social media. If the content is relevant and helpful, a brand becomes the go-to expert when the audience wants help. The company also establishes itself as a thought leader in the industry.
Fintech Marketing Services that Build Customer Trust
A company’s marketing effort should effectively communicate data protection measures, privacy policies, and regulatory compliance to increase confidence in potential customers. Social proof, compelling brand stories, and personalized content can help fintech businesses achieve just that.
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