High-performing ads for Fintech: the best approaches to maximize ROI
- Thursday, September 22nd, 2022
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Ekaterina Rudnichenko, Head of Sales at AdChampagne, explains how to create effective user-generated Content for Fintech companies.
If you’ve been in the mobile marketing industry in the last decade, or even just owned a smartphone, you will have seen that the ways in which we engage with consumers are changing fast. That’s mostly because of the millions of apps available to download using a simple thumbprint. Based on Sensor Tower analytics, Fintech mobile apps saw the largest growth at the start of the pandemic, and that trend has continued to this day.
As users, we understand how these processes have touched us personally – but from a UA perspective, how do companies make certain their mobile app stands out from the crowd when there are so many competitors?
Here, we dig deeper into the high-performing approaches for Fintech which can help you to hit the jackpot. Let’s start with the audience!
Audience today: mobile-first consumer behaviours
Nowadays people are spending more than five hours per day in mobile apps, according to Data.ai. It’s a roughly 275 per cent increase compared to the previous year. The current climate (especially coronavirus) has strongly advanced mobile usage. Consumers not only turn to their most-loved mobile apps for entertainment and connection, but also to seek out new activities. Fintech products are growing at a phenomenal rate, as well as investment and trading apps, including cryptocurrency. Similar changes arose in the credit space with buy now, pay later, and peer-to-peer loan apps on the rise. What’s more, users always download finance products with a purpose in mind. They have higher expectations and a wider choice – consumers won’t turn a blind eye if the product doesnt differentiate.
Keeping your customers’ attention and creating trust in a brand is now more difficult than ever. That’s why we suggest you focus on new advertising ideas.
Rise in user-generated content: Fintech isn’t boring
From a consumer’s point of view, Fintech apps have traditionally been viewed as tedious – with the shutters coming down the moment we even read those two words. It can be difficult for everyday users to understand exactly what they do. Despite this, 64 per cent of customers around the world already use at least one fintech platform, while 96 per cent are aware of the existence of at least one app or service. It’s a great jumping-off point – the interest is there but the challenge is breaking into the already cluttered market.
Our team believes there’s only one solution for it – user-generated campaigns.
With UGC, you an create ads that don’t look like ads! A well-tested video would align well if somebody’s just scrolling through the feed – it’ll just flow straight with it and retain the consumer’s attention more so than any other marketing method. But don’t just take our word for it – the statistics speak for themselves: 79 per cent of users say UGC highly impacts their purchasing decisions. Whats more, according to the State of User-Generated Content report, 6 in 10 marketers report that their audience engages more with UGC in marketing and communications channels, than with branded content.
The power of video is matchless, and delivers results unlike any other marketing tool. It also works for fintech companies while communicating potentially “dry” information in a short amount of time. Along with that, your content is going to stick with the audience for the long haul, not be lost in an info bubble with your competitors’ marketing campaigns.
But where and how do you begin? With video length, of course! All TikToks are always extremely engaging. Literally, less than one second is all it takes for a user to decide if they are going to watch your video ad, or swipe away. Therefore, it’s important to get to the point as fast as possible: make your creative length 15-30 seconds, so that people are more likely to watch until the end. And don’t forget to add a catchy call-to-action – that can drive your conversions through the roof.
What about creative testing? We adhere to the always-on approach, which is about learning and improving over time. A single piece of creative won’t work across every stage of the funnel or even for all of your audiences. That’s why it’s crucial to run tests built to help you better understand your core consumer.
Last but not least! Don’t use professional equipment, you need just regular phone camera, all available music, filters and effects. If users see a highly-edited version of a product or service you are trying to offer, they are going to automatically perceive your content as an ad and go away. Make it feel native.
AdChampagne experience: campaigns for Fintech
We create end-to-end ads that drive business actions: reach, clicks, downloads, sales and positive brand image. Let’s take a look at top-performing approaches for Fintech products.
Before & After
Such an approach shows how exactly brand or product has transformed your consumer since he started using it. A good example is our TikTok video for Sportbank.
Problem & Decision
Try to focus on benefits, and not features. No one really cares about all the amazing innovations you’re selling. What people want to know is how it will benefit their lives and solve a specific problem they’re having. See our creative short video for Pyypl which explains why exactly virtual banks can become an everyday decision for today’s consumer.
Dancing & Duets
Dance videos are a huge hit on TikTok, and although this approach is quite old, it works. People like creative dances, copy it and make duets. It looks very native and non-obligatory. Here’s what we did for the NUUM Neobank.
Users Reviews & Testimonials
Reviews and testimonials are an asset every Fintech company can benefit from. It’s genuinely useful to share perks associated with your brand. For Neobank we decided to work with real people to show how they were using the NUUM virtual card.
Comedy Sketches & Storytelling
This format lets you imagine in the most life-like circumstances why the user would need the specific Fintech product. Just remember one of the daily life situations – it will look really organic and facilitate a more authentic dynamic between the brand & the viewer. Check out one of our TikToks for Sportbank.
Overall
We are constantly looking ahead to what the future holds for mobile advertising, and there is no doubt that TikTok is the perfect platform for harvesting User-generated Content. Some of our clients have been doing Instagram for years, and while they have only been on TikTok for a couple of months, they see a lot more opportunities there. It feels natural and authentic – because it’s about real people.
Our team generates short videos for Fintech brands by implementing the latest trends that drive ROI. If you’re looking for guidance on how to begin your campaign, AdChampagne can help.
About the author
Ekaterina Rudnichenko is the Head of Sales of Boutique Performance Marketing Agency, AdChampagne, a mobile advertising company based in Tallinn. She has been working in App Marketing for 7+ years, focused on User Acquisition, Retention and Engagement for a portfolio of consumer apps, from Gaming to FinTech. She has a proven track record in generating millions of installs for companies of all sizes with the use of digital strategies and data analysis. Now Ekaterina has the opportunity to work from anywhere in the world, improving the professional and day-to-day lives of everyone she communicates with.