Even the fastest-growing industries need marketing and adequate funding to grow. Money won’t just pop out of thin air to fund your fintech project. Like every other sector, the marketing fundamentals are similar. And understanding how to modify and apply these principles is essential to your project’s growth and success.
All this being said, you shouldn’t prioritize your search for investment and funding to nailing the business side of things — like strategy and business model. Pay attention to these problems equally. Don’t believe us?
According to Statista, in 2021, although 38% of startups failed due to lack of investment, 35% ran out of business because there was no market need for their products, 20% crumbled under fierce competition, and 19% didn’t have a suitable business model.
As accomplished businesspeople, investors explore the weakness of businesses and decide if they are still worth the investment. That’s how it works. And the decision-making when it comes to raising capital for your business will be no different.
While there is no cut-out path to raising funding for your startup, having the right strategies in place will increase your chances of raising your target capital. This article discusses the best marketing strategies to scale your business and grow investments.
Ready a Detailed Business Plan
It goes without saying that business plans are the most significant single factor in swaying investors. A business plan differentiates a passionate founder who has done their homework from a dreamy and tactless one. With details of your unique value proposition, target audience, sales forecast and history, and market assessment, investors gain insight into how the project works.
You may be tempted to go the colorful diagram and fancy analytics route; keeping things straightforward is undefeated. The consistency in the figures and goals shows that the business model and conclusions are rational.
Have a Clear Calendar/Roadmap
Nothing intimates prospective investors with your fintech project more than a clear and detailed roadmap. It indicates two things: your fintech project is well-planned as it has a timeline of project milestones, and you are transparent, having laid them out for all to see. Make the calendar engaging and informative enough so that investors can track the developmental stages and know precisely when to get on board.
Sublime PR can create traction even from the most unexpected channels. Hire a content marketing/PR agency with a proven track record of successfully mainstreaming fintech projects. Establish your brand as the go-to for info in that niche with a content funnel and strategy unique to your project. That way, you attract a market that seeks out your product because of the reputation your brand has built.
Utilize documents like whitepapers and case studies to show proof. This set of documentation speaks to investors more. They highlight steps taken to achieve the goals you have accomplished or looking to achieve. More fintech projects are beginning to adopt global SEO strategies to create a more diverse and inclusive customer and investor base.
Gamification may already be a mainstay in the web3 industry, implementing game design elements and principles in marketing projects. It triggers a different level of commitment and loyalty within your target audience, generates the needed buzz to enter new markets, and attracts new users.
You can gamify your marketing by rewarding loyalty and referrals and having a leaderboard for specific actions and activities within your platform. This exploits the competitive side of people and creates active interaction.
Launch Campaigns on Social Media
Social media, although still largely untapped, plays host to newly signed-up audiences daily who are waiting for you to take the initiative. Oberlo’s research found that 71% of people who have a positive experience with a brand on social media are more likely to tell close ones about it.
Campaigns on social media do not have to end in automated cold messaging, promoted posts, or ads. Personalized messages are more effective. While they improve your chances of getting a reply, it shows prospective investors that you are more interested in them than in their money (even though you are).
Adopt Airdrops and Other Freebies
Although not as rampant as before, Airdrops effectively raise awareness for your crypto project. The audience is given a set of tasks to complete, from simple social media following and interaction to referral contests. While it may appear so elemental, the idea that the airdrops may become a high-value token in the future is so compelling that little thought is given to the process. Airdrops are also a ploy to drive up the liquidity of your project.
On the other hand, a bounty campaign is more like having people promote on your behalf. Reward the efforts of creatives and influencers who promote your blockchain project. Regards can be either token or cash-based.
The strategies mentioned earlier do not exhaust the plethora of available marketing options. None of them is a standalone remedy. A good marketing campaign involves the use of several strategies. And with the perfect team in place, your project will be too good to ignore. But first, your fintech solution must be practical and unique. Take your time to craft an irresistible product and business model; only then can investors be as passionate about your project.