Like all investments, marketing aims to generate a positive return on investment or ROI. Your business may stand out in the competitive, fast-paced FinTech industry with solid marketing techniques. In this article, get to know the factors you should consider while setting up a budget for marketing and how fintech marketing agency experts can help you! Learning more about marketing strategies can help determine your FinTech marketing budget and how much you should invest in advertising.
Two of the primary marketing methods:
- Outbound Marketing: The process of creating and disseminating a message to connect with and win over clients or consumers is known as outbound marketing. Some examples of outbound marketing include television, cold calls, radio ads, newspaper ads, pamphlets, flyers, trade exhibitions, etc. The more conventional of the two marketing strategies is this one. According to growth marketing agency experts, digital means of outbound communication, such as PPC, can also be used (pay-per-click). PPC is a marketing tactic that is well-liked by digital marketing firms. If PPC is carried out properly, it may be effective. In reality, PPC conversions cost an average of $53 in 2021.
- Inbound Marketing: Compared to outbound marketing, inbound marketing takes an entirely different strategy. Through instructional and helpful content, inbound marketing tries to attract clients organically. Websites, blogs, content marketing, landing pages, progressive profiling, social media marketing, email newsletters, and other related tools are used to do this. Inbound marketing aims to produce engaging content that encourages customers to visit a business’s website on their own. Then, as they progress through the buying process, the growth marketing agency experts nurture them by providing them with messages and content that speak to them and address their concerns and challenges.
As per the fintech marketing agency experts, techniques for outbound and inbound marketing can be utilized to produce leads and a profitable return on investment. However, inbound marketing efforts have an average cost per lead of $135, which is 62 percent less expensive than conventional outbound marketing. However, PPC leads cost much less than leads from traditional outbound sources.
Weighing up the two options
Your FinTech company would make a sensible choice to invest more in inbound marketing than traditional outbound marketing because it costs nearly 2/3 less than outbound marketing to achieve the same outcomes. However, since PPC costs only $2.14 per click on average, investing in PPC might also be intelligent, per the fintech marketing agency experts.
Inbound marketing is alluring to potential FinTech clients and customers. However, you are just getting started. In that case, it can be a wise choice to try both approaches and evaluate which is more effective for your particular circumstance, as per the growth marketing agency experts.
You can employ a freelance writer or a growth marketing agency expert to create a blog and marketing emails for your subscriber list to launch an inbound marketing campaign. The author or the growth marketing agency experts can also produce social media content for your business that will assist you in taking advantage of social networks. You can create advertisements for regional radio and news outlets to launch a straightforward outbound marketing campaign. Determine the ROI for each attempt to determine which is more successful.
Choosing the right budget
Spending on marketing can aid in attracting new clients, as per the fintech marketing agency experts. However, if you indulge in excessive spending, you risk overspending and incurring excessive financial losses for your business. Choosing the finest FinTech marketing budget or a fintech marketing agency takes some skill. The size of your business may also affect how much money you need to spend on marketing.
Compared to established firms with a large clientele, marketing may be more of a concern for you if your business is smaller and seeks to attract many new customers. Marketing is crucial for bringing in new clients and expanding your FinTech company’s clientele. However, you must also ensure that you have the financial means to set aside a specific portion of your earnings for your marketing budget. So, as per the fintech marketing agency experts, before you make any commitments, check your finances.
No matter what stage your FinTech company is in, marketing is a need if you want to see a good return on investment. Setting up your goals and budget are two crucial phases in selecting the best strategy. A well-known Fintech marketing agency is Voxturr. We assist FinTech companies in considerably enhancing their marketing efficiency. Through tried-and-true inbound marketing methods and approaches, we can revolutionize your lead generation process, increase website traffic, and assist you in attracting your ideal clients and generating high-quality leads!