The 4Ms of Marketing for FinTech

I'm delighted to bring you this post from Patrick Brownlee-Smith. I've long experience working with Patrick. Just by way of insight, his advice and direction helped me and my colleagues turn an intended 7-figure exit into an 8-figure exit (essentially adding a zero) with some of the best public relations and marketing strategies I've ever experienced.

I asked Patrick if he'd sit down and write out some simple, accessible and useful advice for the FinTech CEOs and Founder community here on FinTech Profile. If you'd like to know more, reach out to him on LinkedIn and tell him I sent you. You'll get a very warm reception.

Over to you Patrick:

The 4Ms of Marketing for FinTech

If you’re in the process of launching or growing your fintech business, then you are probably looking at starting or increasing your MarComms (marketing communications) efforts. And if you are doing that, then you are probably hearing lots of theories, lots of acronyms and lots of ways to complicate what is, in essence, a simple activity.

However, for growing fintech businesses, planning great communications comes down to focussing on the 4Ms:

Market

Who are you talking to and why would they be interested?

The most obvious question is whether you are targeting consumers or businesses, but you should be looking to go much deeper than that. Get to know your audience and truly understand what problem they have that you can solve for them. How does your solution take away a pain that they have? And even if your fintech is B2B, the buyer is still a person with a pain to solve.

Message

What is it you want to say?

What is special about your fintech solution and why should anyone care? Hone your message, make it true, make it simple enough to understand and remember (for you and your audience) and make sure it works in your market. 

Media

Define the best places to get your message out to your market.

If you have worked hard on the first two Ms and you truly understand your market and your message then the right media should become self-evident. Knowing your market means knowing where they ‘hang out’, or if you want to be more formal, you should know where they get their news. While if you are confident about your message, you will be able to understand where it will resonate most.

Measure

Do you know if it worked?

Before you can measure your output, you need to define what success looks like. Is the goal new leads, new customers signing up, brand awareness, or maybe you were trying to appeal to new investors or new employees for your fintech. If you are clear on your goals then you can measure to see if you achieved them. If the results were good, then you can repeat the approach. If they aren’t good enough, then go back to the start and work through the 4Ms again. 

If you can crack these four, then you will be able to consistently produce marketing that works for your fintech.

Patrick Brownlee-Smith
Patrick is a marketing consultant that helps growing tech businesses hone their market and message. He runs regular webinars, with the next one on 14th Nov (to sign up, visit: bit.ly/pbsm1411). Find Patrick on LinkedIn here.

I deliberately asked Patrick to keep it short and sweet – so thank you for that Patrick. If your marketing and public relations aren't quite fitting together to deliver the outcomes you need, then phone Patrick and ask for his perspective. Don't wait.

I made that mistake and it's was just... well, there's an old Chinese proverb: The best time to plant a tree was 10 years ago. The second best time to plant a tree is today. So if your marketing isn't working, do something about it today.