As traditional banks have risen to the occasion and are hell bent on core digitalization, here are some sure-shot growth hacks to strengthen your business and cash-in on the sea of opportunities that engulfs the Fintech paradigm.
#1 Pulling customers in by building an element of exclusivity : BlueLeaf Wealth Inc.
BlueLeaf was able to build a sense of exclusivity into its working model and kindle the FOMO (fear of missing out) factor in its customers and even prospects. In the process of building the world’s truly personal financial planning framework, BlueLeaf unleashes an innovative invite process that triggers the intrigue to know more.
#2 Working on CX and transforming the borrowing process: Kabbage Inc
Instead of eyeing global mega corporates, Kabbage made itself popular in the world of small businesses, by working tremendously on the CX factor. Getting a business loan was no more a clumsy and painstaking process. CEO Rob Frohwein understands the need to treat customers with personalization, talk to them and take seriously their worries and wishes.
#3 Think Technology and offer innovative solutions: Acorns Advisers LLC
Acorns is the quick-witted and mobile tech-based financial partner to grow your wealth. Acorns had a great referral marketing potential. It was able to hack into this plus point by incentivizing the referral scheme, with a $2.50 credit for every referral invite you send to your friends. Such referrals will be immediately sent a unique invite link and the micro-investing, mobile-only service has witnessed a spike in its lead generation and conversion process.
#4 Success with Gamification Theory: Robinhood
The viral waiting list game page has made news for its interactiveness and innovation in keeping the prospective customers engaged. The commission free stock-trading app was able to boast of as many as 1 million users even before the launch. Instead of the regular process of asking interested people join the mailing list, the people were put on a waiting list, with people higher on the list being granted access to beta.
#5 Bold and Disruptive Solutions That Challenge Fintech Stereotypes: WealthFront
When the Fintech ecosystem was strife with uncertainty especially after the crash of the Lehman Brothers, WealthFront did not back out. Instead it made people see the rosier sides of savings and investments. WealthFront filled the technology gap with its artful indulgence with robo advisors and eliminating the need for human advisors and retail presence of fintech outlets.
#6 Deploy Content Marketing to Strengthen Digital PR: Intuit Mint
Mint started seeing sense on the need to monetize its limitless waiting list before prospects became disinterested in the product. It announced an exclusive VIP access to the waiting list soon as the product became live, which gave reasons and incentives for people to keep waiting. More than 20,000 unique email addresses were amassed by Mint as a result of this hack.
Zuci is revolutionizing the way software platforms are engineered with the help of patented AI and deep learning models. Learn more about Zuci at www.zucisystems.com
About the author
Janaha Vivek is the Senior Marketing Executive at Zuci. Having expertise in Fintech with a background in Sales & Marketing, he is extremely passionate about new technology, innovation and learning.
Check him out at Janaha Vivek.