Fintech companies have exploded over the past few years, as new consumer and B2B solutions have emerged to bring convenience, security, and clarity to common financial obstacles. According to PitchBook, Fintech companies raised a record high of $20.5 billion in 2020 alone.
Implementing a successful financial technology PR strategy relies on effective messaging to drive media relations campaigns. While the Fintech sector continues to grow, coverage opportunities have also increased – but the crowded space can make it difficult to break through the noise. At FischTank, we work with Fintech companies from the startup phase and beyond to help drive a media relations program that moves the needle. Our strategy focuses on the three key messaging tactics to garner impactful press attention:
Call Attention to the Problem You’re Solving. Fintech products offer modern solutions to the various obstacles faced by consumers and businesses. An effective communications strategy will clearly outline those burdens and the need for innovation. Consider Purewrist, whose simple yet effective Fintech solution addresses a problem of inaccessibility around contactless payment options for the underbanked. Pricey tap-to-pay tech options including smartphones, smart watches, and fitness bands are often out of budget for many. At the same time, debit cards featuring an NFC chip may require steep account minimums to avoid monthly fees. By spotlighting this problem, Purewrist could effectively communicate to Forbes how they solve the issue with their PurewristGO band – an affordable tap-to-pay wearable linked to a bank account with no minimums that opens the door to contactless payment solutions for the underbanked.
Identify the Market Potential for Your Technology. Once you’ve outlined the problem your product is solving, a strong communications plan will tap into the market potential. This is key for young startups still building out their user base in order to showcase the opportunity and overall reach to interested journalists. Creating a thought leadership program for your CEO, or other top executive, can drive that message forward. Through a thought leadership campaign, FischTank leaned on Purewrist CEO Suresh Palliparambil and his extensive background in the NFC space to push forward market-driven commentary and bylines that spotlight the growing need and interest in contactless payment solutions. A feature in Crain’s New York Business put a spotlight on the growing market potential for cashless solutions, further verified by timely stats and quotes from other tech industry leaders.
Provide a Case Study on a Successful Application of the Technology. Collaborative PR teams will work with Fintech companies to identify potential users to spotlight in successful case studies. A case study can provide the press with a first-hand account of how the technology provided a solution to a current problem for a user in the target market, while adding further anecdotes and third party validation for the product or service. Leaning on these real-life experiences can bolster PR efforts, and be utilized across additional channels including social media, blog content, and for collateral in investor meetings. Early wage access app Dave provided a real customer experience for Fast Company, which helped set the stage on the need they’re fulfilling for those looking to bridge the gap between urgent expenses and paydays. A roster of customers or third party experts ready for press calls will further fuel an impactful financial technology PR program.
Are you a Fintech company looking to implement a successful PR program? Get in touch with our team today: Email us at [email protected] to learn more.