A Strategy for Growing a Fintech Start-Up (2)

In addition to the few points we have discussed in the first episode of this series, when we talk about what a growth-centric FinTech is selling, we must be aware that we are selling products that help or allow our customers be able to make accelerated financial decisions and take accelerated financial actions, as everything they would be needing are already unified in a single space with us, making them not needing to go through the troubles of fetching for what they need to be able to carry out their transactions as they would already be having them all with us in one space. This command-and-use strategy would save them of time and facilitate action taking in all their financial transactions. In other words, we are selling products that allow our customers have a universal banking and financial system, we are selling assurances that help our customers build trust for their businesses, we are selling products that facilitate and enhance the speed of making financial decisions and taking financial actions. These are what we do differently, and these are what we want our population to know we are selling, not just what every other related companies in the industry are selling—we sell what they are selling, and more.

The question of who we sell to becomes obvious as soon as what we sell is understood. Moreover, if the existing producers like us are observed and the market too, it would not be difficult to understand that individuals dominate the customer base of this industry; individuals who make online payments of their utility bills, individuals who purchase their day-to-day needs online, individuals who place orders online, etc. So, basically, we sell to individuals whose transaction activities are online-based. But this is not the approach to totally settle for as we intend to grow the FinTech organically; we must extend who we sell to to other businesses that provide online transaction activities to individuals; this would mean we are not just selling our products to individuals, but to businesses. Selling our products to businesses would mean that we are targeting businesses that are already enabled for online transactions, and we are also targeting businesses that are still using manual methods for their payment processes—we are introducing them to online transactions. We are also selling to both the side of the individuals and the side of the businesses the assurance the individuals want before they can deal with a business, and we are also selling our verification and vouching to businesses to help them be trustable to individuals.

Advertisements and promos have always been good for amassing patronages, but in a 21st century when the faces and approaches of businesses have changed, and in the industry of FinTech—which is highly competitive and its patronage depending on a lot of other things than adverts and promos, our how-to get new patronages must be radical as these times are. Business-to-business marketing and partnership are important to us. Email marketing is important to us. Sponsored ads are important to us. SEO is important to us. Also, being in trends is important to us too. We must personalize the story of our brand to stories individuals can relate to, just as we tell brand stories that make other brands want to associate with or imitate our successes.