by Annual fintech revenue is expected to reach $1.5 trillion globally by 2030 according to a report by Boston Consulting Group and QED Investors. Communication is a critical component of differentiation in a highly competitive market, as it helps establish and reinforce trust and credibility—two currencies the fintech industry can’t ignore.
To be effective, communications strategies need to encompass all customer touchpoints, as fintechs cater to a savvy audience that is highly engaged across digital channels. Additionally, in this landscape defined by rapid innovation and continuous evolution, communications must be agile and responsive. This requires not only responding to market changes and customer feedback with speed and precision, but also engaging in proactive and personalized communication. Fintech companies should leverage data-driven insights to anticipate customer needs and deliver tailored messages.
Fintech companies serving asset management, banking, insurance, and other financial sectors, are continuously launching new products and refining their offerings based on customer feedback. To respond quickly to these new developments, educate customers, and build trust in their new solutions, fintech companies need a communication strategy that seamlessly blends earned, owned, and paid media.
This integrated approach to media strategy is essential for maximizing visibility and maintaining a strong and trustworthy brand presence.
Paid, Earned, and Owned Media
Earned media provides third-party validation, acting as an endorsement and lending credibility to an organization. However, the value of earned media is cultivated over time, often demanding a long-time effort to build relationships with media and outlets, generate unique insights, and craft those insights into content that publications are interested in. Paid and owned media offer full control over an organization’s messaging and provide immediate visibility, amplifying the overall reach.
By combining these strategies, fintech companies can ensure that their communications are cohesive, targeted, and effective. Making it integrated not only enhances brand visibility but also fosters a deeper connection with the audience, ultimately driving growth and success in the competitive fintech landscape.
Breaking Down Silos
Historically, distinct entities managed different types of media: PR agencies managed earned media, advertising agencies handled paid media, and clients themselves often oversaw owned media, such as a company’s website, blog, newsletter or any branded content. However, with the rise of digital media, traditional boundaries between these types of media have blurred.
Audiences are no longer confined to traditional media channels like TV, radio, and print. Instead, they consume content across multiple platforms such as social media, websites, blogs, podcasts, and online forums. These consumers often expect a seamless and consistent brand experience across these different channels.
A PR agency is essentially a consultancy that provides clients with strategic communications advice. As they are inherently positioned to manage a client’s public image and reputation, PR agencies are emerging as the primary custodians of this integrated approach.
The Power of an Integrated PR Strategy
To reach and engage their fragmented audiences effectively, fintech companies need a unified PR strategy that maximizes visibility, builds trust, and fosters strong relationships with key stakeholders across all media channels.
For example, when launching a new fintech solution, an integrated PR strategy can maximize visibility through media coverage, amplify engagement through strategic paid opportunities, and leverage owned media to offer in-depth information and educational content. Additionally, offering test-drives or free trials through owned media allows potential customers to experience the solution firsthand.
This convergence of media channels enables a more comprehensive approach to communication, where each component complements and reinforces the others. Communications that deliver messages through these different channels can reach a larger audience composed of a diverse mix of stakeholders. This broader reach ensures that key messages are communicated effectively to potential customers, investors, partners, and other important audiences who might not be accessible through a single media channel alone.
Integrating earned, paid, and owned media under one roof not only ensures that communications are aligned and mutually reinforcing, but it is also more cost-effective. It reduces the need for coordination between multiple agencies and enables a more efficient allocation of resources.
This approach is not just a nice-to-have but a necessity. It helps demonstrate the value of fintech offerings while building trust and credibility in an industry where consumers are cautious about adopting new technologies. Fintech companies that leverage integrated PR to articulate their vision and achievements will likely emerge as frontrunners in shaping the future of finance.