Why AI is Essential in Fintech Marketing (and How to Use It)

Artificial intelligence is everywhere we look these days.

We open Facebook and see AI-driven alerts.

We go to Amazon and see AI-driven shopping recommendations.

We open Spotify and see AI-recommended playlists.

Those major companies set the standard: Consumers and buyers know the technology exists to create hyper-personalized experiences, so now they expect if everywhere they go online.

That’s why 84% of B2B businesses use artificial intelligence in their marketing strategies, up from less than 30% in 2018.

When it comes to AI in fintech marketing, there’s no alternative. Artificial intelligence creates hyper-personalized experiences and builds trust – when you have the right tools on your team.

The Important Role of AI in Fintech

As Deloitte says, the financial services sector is ripe for disruption. AI, by nature, is a disruptive tool.

It’s no surprise then that you see so many fintech companies arise out of AI-driven experiences. Indeed, many fintech companies today wouldn’t exist were it not for access to AI.

Take Robinhood for example:

  • New traders sign up through the Robinhood app and use an automated system to link their bank account details.
  • Algorithms analyze markets and current events to offer a custom buy/sell/hold percentage recommendation for most stocks.
  • AI pulls relevant news stories for each stock.
  • When someone places a trade, the algorithm searches for sellers/buyers behind the scenes through Robinhood’s partnerships.
  • An automated chatbot answers questions and informs traders about each trade.
  • AI-driven email sends out quarterly announcements for companies in traders’ portfolios and automated shareholder ballots.
  • An automated system quizzes traders on their knowledge before granting them access to advanced tools like options trading.

Robinhood has developed such an amazing AI-driven app that they barely keep any humans on-staff for customer service (Robinhood’s biggest weakness).

And Robinhood isn’t alone. Chime, Acorns, Coinbase – none of these apps would exist were it not for AI technology.

Even in B2B – an industry in dire need of fintech disruption – AI is essential for creating the experience your audience expects and streamlining operations.

Neglecting to use AI’s full potential will make a fintech company look out of touch and even untrustworthy.

How to Use AI in Fintech Marketing and User Experience

Ideally, AI in fintech marketing is both omnipresent and unnoticeable. AI should power every marketing interaction but not obviously so.

1. Use AI in Fintech Marketing to Improve Your Content Experience

Personalized content is critical in fintech, where each of your leads has distinct needs, problems, and material conditions.

Once you create high-quality content for your audience segments, use artificial intelligence to optimize the on-site experience.

An AI engine lets you offer personalized content recommendations based on each visitor’s intent data and behavior, so people always have access to relevant content.

2. Improve Your Security

Consumers and businesses are already distrustful of many fintech companies they don’t understand or know well.

Use artificial intelligence to lock down your security with login alerts, two-factor authentication, fingerprinting, and biometrics. Users can still access everything on every device, but they’ll know their information is secure.

3. Make Signups and Lead Generation Seamless

Artificial intelligence can also power your entire lead acquisition process. Don’t worry; it’s not as out of control as it sounds.

Instead of forcing your leads to fill out a lengthy form, all you need is an email address and country. Human verification checks public databases to confirm the email address itself and source other pieces of information like firmographics.

Your visitors will never have to answer questions about their company or job role again.

4. Offer Free Tools and Useful Resources

Free tools and resources are vital for showing your audience why you’re trustworthy and how you can benefit their lives.

Lots of banking apps, for example, now offer gamified budgeting tools. These tools increase engagement through the app and encourage people to sign up for more services.

On your website, you can offer resources in an AI-driven interactive content hub.

5. Use AI in Fintech Marketing to Improve Lead Quality

Companies that use AI in fintech marketing strategies can see an improvement in lead quality of 79% or more.

When people consume more content, they have more time to figure out if your company is the right fit for them. Not only that, but leads who convert will be farther along in the sales funnel by the time they reach out to your sales team.

6. Alert Your Audience to Vital Information

You have so much data at your disposal. AI lets you put it to good use not only for yourself but also for your audience.

Use all the data you track to provide personalized alerts and suggestions. You could set up your system to alert customers when they have opportunities to make smart financial decisions.

Huntington, for example, analyzes essential transactions and spending to provide a personalized saving recommendation.

7. Offer Services Previously Only Accessible to Huge Corporations

AI is so revolutionary because it makes technology affordable and accessible for businesses of all sizes.

Use it!

Today, industry staples like JD Ameritrade are playing catchup to offer services to markets Robinhood has created. B2B, which desperately needs a technology-driven upgrade for payment systems, is ripe for similar disruption. Find your niche and fill it.

8. Keep Your Data Clean and Gain Better Insights

If you’re like most B2Bs, you struggle to make sense of all your data. Most businesses have data stuck in siloes where marketing and sales can’t access it properly.

Artificial intelligence helps you break down those barriers.

Plus, AI also automates insight by scanning for subtle patterns and completing tedious tasks.

Use AI in Fintech Marketing to Improve Your Content Engagement by 2,100%

Artificial intelligence is critical for connecting with your audience, earning trust, and improving your website or app experience.

That’s why fintech company Tipalti uses Hushly’s AI engine to power its website content and lead collection. Once implementing Hushly, Tipalti noticed a 597% increase in lead conversions, a 2,100% boost in engagement, and reduced work hours each week by 10.

Learn more about how Tipalti and other fintech companies use Hushly AI to improve their user experience.

10 Fintech Marketing Trends and Strategies for Startups

It’s all about fintech right now.

Research from Deloitte shows the financial services industry is ripe for disruption.

Fintech is poised to replace many of the traditional banking system’s outdated tactics with new tools like blockchain, machine learning, AI, mobile, and more.

Finance is already a distrustful industry for many people – whether regulators, potential business partners, or consumers.

Fintech companies need to take their marketing strategies seriously. Particularly, effective fintech marketing should focus on quality content and user experience.

Consider your audience and goals – both short-term and long-term.

What product or service are you trying to sell? Who are you selling to? What problems do they face daily?

Many fintech companies have long-term goals of either reaching both B2B and consumer markets or shifting from consumers to business after honing technology.

Starting with a comprehensive strategy that combines mobile, personalization, AI, and UX is key to earning trust no matter your audience.

1. Data-Driven Tactics

Data should power every fintech marketing decision. Data-driven content, targeting, and experiences show that you have a solid grasp of technology and customer service.

Plus, nearly 60% say they expect you to personalize their experience based on data from past experiences.

Unfortunately, high-quality data is hard to come by. AI-driven tools can help keep your database clean and complete.

2. Target Content for the Right Segments

You can’t personalize the experience without content to personalize. Fintech companies deal with a wide range of firmographics and demographics they must consider.

Within consumer audiences, you have:

  • Various income levels
  • Financial planning goals
  • Budgets

With your business audiences, different organizations have:

  • Distinct market shares
  • Capital access
  • Long-term goals

Each of these groups needs content created specifically for them.

For example, a mid-income consumer might want information on 401ks and retirement planning tools, while a low-income consumer would want immediate budget or credit-building help.

The same idea applies to different accounts or firmographics.

Comprehensive content shows that you care about your audience’s immediate problems. It’s really the only way they can trust your brand without taking the risk of signing up for your service.

3. Personalized Content Experiences

Once you create the content for your segments, you need a strategy to get it in front of the right sets of eyes. An AI-powered personalization engine uses behavioral data and intent data to make sure every visitor gets the best experience. AI helps you simplify content distribution, just like Amazon.

4. Multimedia is a Must

The financial services sector is often dry and confusing for many people – even those who work in the industry! Multimedia is vital for bringing your fintech marketing down to earth.

Videos, infographics, and other media make your services/products easier to understand. And best of all: Multimedia makes otherwise dry content exciting and shareable.

Use tools like:

  • Custom GIFs to explain your product
  • Tutorial videos
  • Budget planning videos
  • Interactive content explaining your cybersecurity
  • Financial planning and investment quizzes
  • Investing and saving gamification

5. UX Comes First

User-first design is critical for fintech. Buyers and customers need to physically see that you care about their experience. Plus, nice UX beams trustworthiness.

Nearly 70% of millennials and 43% of all demographics already use mobile banking, for example.

An optimized mobile app is necessary, as is a streamlined and minimalist mobile-first website.

6. Humanized Marketing is Key

A disruptive industry needs disruptive marketing strategies. Digital marketing for fintech companies needs humanized content to break away from traditional financial service strategies’ rigidness.

For example, write your content from a second-person (you/your) or first-person (I/we) perspective. Use a more casual and friendly tone than you’d typically find in financial marketing.

Casual, friendly, and warm don’t necessarily equal unprofessional. In fact, most will find the humanized aesthetic refreshing.

7. Don’t Hide Your Content Behind Forms

When you invest so much into your content, the last thing you want to do is hide it behind a lead form.

The internet is full of information. Both B2Bs and consumers know this fact.

If they’re confronted with a form when they visit your blog, they’ll just hit the back button and look for the same information somewhere else.

Instead, give your visitors a useful sample of your content. Use micro smart forms to collect just an email address and country and nothing more. AI can help fill the demographic and firmographic gaps instead of forcing your visitors to hand over their details.

8. Capitalize on Influencers

Influencers and thought leaders are a vital component for humanizing your brand.

Both fintech consumers and business buyers tend to trust influencers a little more than marketing content coming straight from the brand’s mouth.

Influencers also add an extra perspective of your product/service like a long-game review.

9. Get Conversational

We’ve already explained how your content writing should take on a conversational tone on your website.

However, you also want to keep the back-and-forth conversations flowing on social media and other channels. When you craft your social posts for the page, write as if you’re speaking to one person.

Make sure to share useful content from other non-brand pages and users. Interact with your comments to keep the conversation flowing.

10. Offer Free Tools and Resources

The best financial service brands know that giving away free services is the key to winning future customers and keeping the ones they have.

Design an app that’s useful for everyone – whether they’re a customer or not.

Use artificial intelligence and machine learning to offer free tools on your app for investing, financial planning, budgeting, saving, stretching resources, and whatever you think your audience segments would appreciate.

Technology makes it easy to develop an app that’s extremely useful but requires minimal resources to maintain.

For Fintech Marketing, AI is a Must

In such an innovation-driven industry like fintech, effective use of artificial intelligence is critical for creating an authoritative digital marketing strategy.

AI-powered personalized content experiences are naturally mobile friendly and encourage content bingeing. Like Netflix or Spotify, you can offer your audience personalized content recommendations – whether they’re potential investors, business partners, or consumers.

Learn how fintech company Tipalti used Hushly’s AI system to increase conversions by nearly 600% and lead quality by almost 80%.