A Strategy for Growing a Fintech Start-up (6)

We have gone a long way on this series and it’s only okay to keep going so long we still have a lot to touch on the matters it concerns, so let’s continue from where we stopped.

  1. Taking Advantage of the New Media: This is a generation of information, visual impressions and mental stimulations, we are all addicted to being at the top of the circle of information; we want to share it, we want to receive it, but the kind of information and the means of dispensing or collecting it that different demography of people are drawn to remains valid. In age demography, the older generations are drawn to literal contents, so you must take advantage of the new media that sell literal contents well (e.g. LinkedIn, Twitter, blogs and Facebook). The gen-z’s are drawn to visual contents, so media like TikTok, Instagram and YouTube must be taken advantage of. You must have a structure of every part of your demography, understand them and how you connect with them. This kind of connection is what causes organic growth for you.
  2. Customers Ambassadorship: celebrity ambassadorship—because it is the most traditional type of ambassadorship and it generates attention—is often mistaken to be the most productive form of ambassadorship, but no, celebrities can draw people to your brand but not draw your targets to you or draw you patronage. Ambassadorship or any form of advertisement at all is almost a waste of resources if it does not return with attention from your targeted population and patronage; the best form of ambassadorship for returns, getting your targeted population and getting them to patronize you is customer ambassadorship. By choosing our ambassadors from your satisfied customers, you have not only created a means of holding your customers to make them returning customers, you have also created a system of referral that would make it easy for you to get new patronages via the testimonies of your customers—which is what every potential customer looks for before they are convinced they wouldn’t be the “lab rat”. Your growth is organic and sustained when your customers are your ambassadors.
  3. Expand Sales Strategy (ESS): as important as it is for you to make profit, to expand is as well important, so your sales should not be just about making profits, but importantly and also about taking a new spot with every sale. If you run a sales programme that targets self-employed people, you must take advantage of every sale in that programme to affect the civil servants who are the people patronising the self-employed people you capture. By this, you are capturing a new subset of your targets every time you run a programme on a particular subset of your target. This amounts to you growing, and growing organically, as it is that you are in direct contact with your prospects and not just with all kinds of dispersed population.