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Sadly, our petition to rename 'disruptive marketing' as 'Marmite marketing' is held up in the courts. You either love it or you... Oh, we can't say that either?
Look. We know FinTechs aren't afraid of a little controversy. There's enough news about them disrupting the banks with their cryptocurrencies and their financial services innovations and their skinny jeans, after all.
Deloitte predicts the FinTech industry will double in size over five years, with a global worth of 188 billion euros by 2024. We can learn a lot from the FinTechs that are making this growth happen.
Here are just a few examples of admirably bold marketing techniques employed by tenacious FinTechs who don't give a REDACTED.
1. Dead creative copywriting
Dead Happy describe themselves as 'the John Lewis of Death', citing benefits like 'No paperwork (the forests are dying, too)' and offering suggestions for their 'Deathwish' policy — what you want to happen after you die — like Viking funerals and sending ashes to space. Whatever you do, 'please die responsibly.'
We're the marketing agency that coined the tag-line, 'Nothing is too complicated. Except love. And time machines'. So, we appreciate this insurtech taking their website copy to weird and wonderful places.
From their videos to their socials, they turn the plodding solemnity of their industry on its head:
They recently won an innovation award. Not only is their marketing disruptive, but their product is, too. The brand is intimately tied to the messaging, to the offering, to the company culture. It's cohesive and memorable. Simply put: it's to die for.
2. Making headlines with fake news
CIRCA5000 (previously tickr) is an impact investment app and fellow B Corp — a for-profit business that is a force for good. Users can choose to invest in people or in the planet, or both. And, they can offset their carbon by up to four times while they do so. This organisation wants to invest in our future. They're thinking long-term; about the year 5000, to be exact. Not much has changed, but we live underwater.
In fact, their recent social media campaign has made waves. They're posting aspirational fake news. You heard right.
With the caption, 'We don’t wish to be bearers of fake news, but this headline reflects the future we want to see. Let’s make it a reality', they've taken something ugly and turned it into a beautiful message of hope. Here are some of our favs:
- 'B Corps become the new standard for all business.'
- 'Major success for rainforest restoration projects around the globe.'
- 'Paris climate agreement stays on track to limit global warming.'
3. Using radical transparency
Monzo initially grew its base with grassroots style word-of-mouth marketing campaigns. From community events to hackathons, they worked hard on a direct-to-consumer approach. Now this may not work as well if you're a FinTech that's focused more in the B2B world, but this second prong of their marketing efforts is certainly something any company could do.
For this digital bank, 'radical transparency' means publishing their earnings reports and even making all their communications available to anyone in the business. They invite honest conversations about mistakes, and announce to the public whenever they get things wrong.
As a rule, you know something is probably true if it makes someone's life worse to admit it. Yet admit it, they do. Honesty and banking have had a torrid relationship, so they're committed to repairing it, even if it means taking big risks and losing a few friends.
It's a real middle finger to glossy, flaw-free messaging. As with Photoshopped models and Instagram filters, people are getting tired of perfect. Warts and all, any day.
I ain't afraid of no disruptive marketing
McKinsey cites a lot of variation in the FinTech space, with several areas seeing a shift from 'exotic' tech and a focus on UX to more Enterprise-scale activities, such as going after bigger fish with longer sales cycles.
What was once disruptive is now the new normal. So, FinTechs need to make their brand stand out in their own way, while studying successful examples. You don't have to be quirky, but you do need to put your unique selling points front and centre, have a clear vision and communicate how you can help your target audience.
Our whitepaper all about the best B2B FinTech websites is a great place to start learning and evaluating your own business. Download it here.