Standing out in a Crowded Space: FinTech
From Square to Venmo to SoFi, financial technology — or FinTech — is a crowded space with several dominant players. To differentiate yourself from the competition, you need a PR team that is resourceful and professionally persistent.
Get Creative with Your Data
Many of the reporters who cover FinTech companies are on the personal finance beat. They love numbers and data. Fortunately, many FinTech companies have that in spades — they just need to figure out how to use it.
Working with one of our clients in the student loan refinancing space, we began creating quarterly reports that utilize its data to draw different conclusions about the current state of student loan debt in the U.S. By being strategic in how we offer these reports to journalists under embargo before they’re published on our client’s website, we’ve secured coverage in everything from CNBC’s “Squawk Box” to USA Today to Bloomberg News.
Let Your Users Sing Your Praises
It’s one thing to say the service you provide is valuable; it’s another to have someone else provide a first-hand account of it. Mobilizing your user base who can talk about the financial and personal milestones they were able to achieve thanks to you is a tremendously effective PR strategy.
We’ve helped many of our clients across different industries — including FinTech — identify, vet and media train users who are open to speaking with reporters. Getting people to open up about their finances can be tricky, but once we remind them that their story will help hundreds if not thousands of people in similar situations, they often get on board.
Having user success stories is especially useful for securing broadcast coverage, as it provides a more visually compelling way to tell your story beyond demoing your website or app. For example, the FinTech client mentioned above was recently the subject of an NBC Nightly News piece that centered around one user’s experience with the service.
Be Realistic about Results
Unsurprisingly, many of our FinTech — and technology in general — clients are extremely driven by metrics. In most cases, that’s a good thing! But PR isn’t just about numbers; it’s about creating broad awareness.
Again, FinTech is a relatively new but already very, very crowded industry. Most general consumers aren’t aware of the subtle differences between one service and another. By creating a steady stream of coverage in a variety of consumer-interest, business and tech publications, an effective PR strategy can ensure your company is the first thing consumers think of when they think of the service you provide.