In FinTech, innovation is the key to establishing a robust and positive public image. This sector, brimming with cutting-edge developments and intense competition, demands more than just technological prowess; it requires a compelling narrative to stand out. If done well, PR can be a strategic investment, significantly driving meaningful business outcomes for FinTech brands.
Building Credibility in a Competitive Landscape
FinTech is a crowded field with new players entering the arena regularly. Establishing credibility is crucial to stand out among the competition. PR efforts can build trust by showcasing industry expertise, thought leadership, and successful case studies. Media coverage, expert commentary, and well-crafted narratives contribute to a positive reputation, making the brand a go-to authority in the FinTech space.
When account-to-account payments company Dwolla set out to increase its brand awareness with a robust PR campaign, it overcame the challenge of a crowded and noisy media landscape by showcasing its unique value-add and leveraging partnerships to build credibility.
In our 90-day campaign, a full media coverage strategy included future announcements, proactive podcast pitching, executive downloads, social media amplification, and, most importantly, an emphasis on Dwolla’s extensive knowledge of the financial space. By positioning Dwolla’s executives as thought leaders in Fintech and the company itself as a “payments giant,” we increased company mentions in tech media outlets, increasing visibility and brand reach. In the end, we secured more than 170 pieces of media coverage in more than 100 media outlets. =
Navigating Regulatory Challenges
The FinTech industry is often subject to complex regulatory environments. Effectively communicating compliance efforts, ethical practices, and industry partnerships is essential. PR professionals can help FinTech brands navigate these challenges by crafting messaging that ensures transparency and positions the brand as a responsible player in the financial services sector. This approach not only reinforces customer confidence but also establishes the brand as a responsible and forward-thinking entity in the financial services sector, a critical factor in differentiating the brand in a trust-dependent market.
Enhancing Customer Trust and Confidence
Trust is the backbone of financial transactions, and PR plays a pivotal role in enhancing customer trust and confidence. Positive media coverage and a strong online presence contribute to the perception of reliability and customer-centric values, attracting a loyal user base.
Chase for Business wanted to create an impactful experience for small business owners and developed the Chase Bizmobile campaign to not only garner media attention but also put their money where their mouth is by creating a physical mobile until to travel to major cities and set up shop to assist entrepreneurs. The stunt showcased their hands-on customer-first approach and garnered them hits in Business Journals, Entrepreneur, and Forbes.
Attracting Investor Interest
Investors closely monitor the FinTech sector for innovation and growth potential. By effectively highlighting a company’s achievements, like significant milestones, strategic partnerships, and its influence in the market, PR can significantly enhance a brand’s appeal to potential investors.
A well-crafted PR strategy does more than just attract attention; it positions a FinTech brand as a lucrative investment opportunity. Through a narrative that emphasizes a company’s unique value proposition, market successes, and future growth plans, PR helps build a compelling case for investment. This is particularly crucial in the FinTech space, where the rapid pace of technological advancement and market dynamics can make it challenging for investors to identify promising ventures. Effective PR not only captures the attention of investors but also fosters trust and credibility, laying the groundwork for strong partnerships and financial backing that are essential for a FinTech company’s continued innovation and expansion.
Staying Top of Mind in a Dynamic Industry
Staying top of mind is crucial for sustained success. Regular PR updates, thought leadership articles, and participation in industry events keep the brand relevant and positioned as a forward-thinking innovator.
When the crypto-craze exploded, many FinTechs struggled to find their voice and carve out coverage in the busy space, but Sandclock, an innovative wealth management platform, managed to do so with a strategic media approach. The approach was multifaceted: engaging pitches, positioning various Sandclock experts as decentralized finance sages, crafting pivotal messages, and ensuring that the Sandclock brigade was media-ready. The results? Dominance over media with an average of 9.57M monthly unique visitors, a staggering 36K journalist eyeballs that resulted in 12 high-impact press features, a social media frenzy with 200+ shares, and regular feature columns in leading publications.
Managing Crisis Communications Effectively
No industry is immune to challenges, and when they arise, effective crisis communication is key. PR professionals are adept at managing and mitigating crises, helping FinTech brands navigate difficult situations without causing long-term damage to their reputations. A well-handled crisis can even enhance a brand’s image if managed transparently and responsibly.
What we continue to learn (and lucky for us!) is that PR is not a luxury. It’s a critical business function that will drive meaningful business outcomes intentionally and strategically. As FinTech continues to reshape financial services, PR is a powerful tool to drive success, foster positive perceptions, and position brands as leaders in innovation and reliability.
