Key Insights from the Fintech Marketing Summer 2024

Drofa Comms is always keen to engage in prominent marketing discussions, especially those held in London. 

On July 2nd, our Executive Director, Masha Balanovich, had the privilege of participating in the Fintech Marketing Summer Conference, expertly organised by The Fintech Marketing Hub.

The FMH is the first non-profit community platform exclusively dedicated to the world of fintech marketing.

Here are some of our key takeaways from the panel discussions:

💡 Building Communication Functions:

Aligning communication strategies with sales, marketing, and employee branding objectives is vital for companies at all stages. 

Nuke From Orbit's success highlights how smaller companies can make a significant impact by investing in research and having tangible data to support their narratives.

💡 Rebranding and Brand Evolution:

Deep research and strategic planning are essential in rebranding efforts to maintain brand integrity while evolving to stay relevant. Vanessa Kreimeia from Thredd (formerly GPS) shared their rebranding journey, which led to a significant improvement in brand recognition and reduced confusion with other brands.

💡 Fintechs vs traditional banks:

Fintech' strengths lie in engaging modern, digital-first audiences, despite having fewer resources compared to traditional banks. Monzo Bank's use of the hot coral card as a key brand asset, which actually started as an accidental choice, turned into a significant branding success.

💡 Evaluating brand success:

(Which is no longer optional in 2024) 

There is no one metric that can be universal for every business. Choosing 2 or 3 key metric that work specifically for your company and sticking to it proves as being more effective. As an example, brand success can be measured using metrics such as growth, NPS, and brand sentiment, along with leveraging AI tools. 

💡 Inclusivity and diversity:

Ensuring inclusivity in communication and design is crucial for reaching and resonating with a diverse customer base. 

Practical examples: training in strong writing and scrutinising language for simplicity and clarity, as well as ensuring accessibility in design. 

💡 Importance of Brand in Funding and Growth:

Without a strong brand identity, securing funding and standing out becomes exponentially harder in 2024. As a positive example, Pleo's emphasis on brand identity was crucial in their success in securing Series A, B, and C funding.

💡 Evolving compliance vs marketing:

Compliance has always been one of fintechs' largest challenges. Balancing compliance with innovative marketing strategies is necessary to maintain credibility and adapt to a dynamic fintech industry. 

Thank you to everyone who took part in this discussion and made the event a resounding success!