We’ve all heard the word fintech. What does it mean? According to one definition,“Financial technology (Fintech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services.” It enables users and customers to manage their financial operations better with the use of technology.
The digital economy is now penetrating every sphere of our lives. Fintech is going to ride that wave. According to one prediction, the industry will be worth $309.98 billion by 2022.
What’s that got to do with the PR industry? Well, a lot. It is up to Public Relations specialists to create an image of the company they want to ‘sell’ to the public. Here are some top tips from fintech PR gurus about doing that:
Three tips from fintech PR gurus:
Understand the market
Sanjay Dove is a senior account manager at Wildfire, and he says in this blog, “At the heart of any PR strategy — fintech or otherwise — is a strong understanding of the market you’re looking to reach. Without a clear understanding of what makes people within the market tick, what they’re driven by, what they like, what keeps them up at night, and what they think of you and your competitors, it’s impossible to put together a PR strategy will make an impact. That goes for fintech or any tech industry.”
Cut out the jargon, please
Have you heard fintech companies using words like digital disrupter, game changer and digital shift? Well, this blog by PRCA advises you to avoid using ‘woolly buzzwords’.
The blog says, “To succeed in such a busy sector, PRs need to clearly articulate how Fintech X is solving a particular problem better than anybody else. And they need to do this in plain, jargon-free English, backing up their assertions with clear market research, data and evidence wherever possible.”
What problem are you solving?
It is tempting for businesses in any space to talk about themselves: how their business is better than the competition. But good PR, especially in the fintech space, revolves around solving problems – what is the problem you are trying to solve?
In this blog, Gemma Dunn, from Missive, says, “Companies often want to communicate why their business is the best thing out there – leagues ahead of competitors or revolutionary in a new space. But jumping immediately to talking about your product can often cause journalists to switch off. First, take a step back and think about the problem that your business, product or initiative is solving, and then you can position yourself as the provider of the solution.”