Education: A Fintech Marketing Must

If you’re a member of the fintech industry, chances are you face a challenge in educating potential customers on their products and services. While younger, tech-savvy consumers might not need handholding (and in fact, might resent the hand you offered in the first place), many members of your audience will likely need education, explanation and guidance.

The recently widowed 85-year-old woman whose late husband always handled the finances might know that he used an automated portfolio manager. But she probably doesn’t have the first clue what that means, let alone how to handle things going forward.

The 21-year-old who recently gained access to his trust fund wants to get into the peer-to-peer lending game but is curious about the risks.

A married couple expecting their first child wants to update their life insurance policies to account for the new addition. But they’ve found themselves lost on your website and are growing increasingly frustrated.

Even though we live in an internet-savvy world, fintech can be incredibly difficult to navigate. Which is why it’s your job as a business marketer to make consumer education a priority.

Here are some best practices.

5 Ways to Educate Your Fintech Customers

Online Webinars

Online webinars are short (generally 45- to 90-minute) “classes” that are designed to educate your customers on any number of products or services.

If you choose to host a live webinar, your audience will have the opportunity to ask questions and interact with your brand. A replay can then be posted on your website or social media pages for people who missed it the first time.

Onboarding Emails

Fintech is a complex industry but, as with all complex things, it becomes less so when you break it up into manageable chunks.

An email onboarding series is simple to design and takes the customer through the education process step-by-step at a pace that doesn’t seem quite so intimidating.

Each email should concentrate on one specific area/feature of your website or app. For instance:

  • Day 1: Welcome email.
  • Day 2: Here’s how to create your login and profile.
  • Day 3: These are some great features we offer.
  • Day 4: Based on your profile, we recommend you check out XYZ.
  • Day 5: Recap, here’s how to get in touch if you have questions.

Consumer Education Portals

A consumer education portal can contain things like tutorials, blog posts, interactive forums, or anything else that serves to teach your audience more about the products and services you offer. These should be free and available on demand.

If you’re willing to go the extra mile to entice your customers to visit your education portal, consider gamifying it. For instance, each time they access a new piece of content, they can earn points toward discounts, company swag or even Amazon gift cards.

Video Demonstrations

Video demonstrations are a fantastic tool for the fintech sector because they have a massive impact on customer education. In fact, the average person will retain 95% of what they see in a video. That compares to just 10% of what they read in a blog post.

Whether you’re using video to demonstrate how your app works, how to navigate your website or how to perform a specific function, it should be a major player in your customer education strategy.

Great Customer Support

Customer support often serves to educate your user base. And in an automated world, nothing is as refreshing as talking to a real, live human. So we highly encourage you to have a stellar, human-led customer support system.

Consider setting up a toll-free number that connects them with an actual person who can answer their questions in real time. It could make all the difference in the world to those who value a personal touch.

Educated Customers Are Happy Customers!

No one wants to be left in the dark, least of all when something as important as finance is involved. By educating your customers about your products, services, website and apps, you’re setting them (and yourself!) up for success!

As Cleveland’s premiere financial services marketing agency, Mischa Communications understands just what it takes to make fintech companies thrive. See what we can do for you!