The transaction value in the neobank landscape is expected to breach $6 trillion this year. Rising at a CAGR of almost 15% from 2024, the figure is projected to approach $10 trillion by 2027. So, how to get your piece of the burgeoning neobank transactions pie?

Marketing with CX at the Center

While marketing is a key contributor to your success, you still want to get the most bang for your buck. Following the approach being adopted by legacy banks will not help the cause, as you need to reach new audiences from different ages and demographics.

The big question to answer is this: How do people choose who to bank with or what financial products to use? The success of fintechs indicates that your target audience values user experience more than legacy. It’s time to ditch the old-school, product-centric marketing approach. And embrace a strategy that focuses on creating unforgettable experiences for your audience.

Customer experience is among the few differentiators for neobanks, which operate in a market where their rivals are mammoths. The right content partner can help you find the common ground between building relationships with customers and remaining complaint.

Creating Experiences with Content

KYC (know your customer) is the first step in any successful marketing strategy. This is not limited to segmentation of personal banking customers, retail traders and investors, small business owners, large corporates, and wealth management companies. It is about really knowing your ideal customer persona – Are they Millennials and Gen Z? What are their financial needs and goals? How aware are they?

On the other end of the spectrum are your marketing goals. What measurable outcomes do you want from your marketing efforts? This could be more deposits or investments, more digital payments, increased sign-ups from a new market, or higher number of younger customers.

With more than 20 years of experience in crafting content market strategies for the financial sector, we are adept at creating a bridge between your marketing goals and what’s important to your target audience. We create holistic and omnichannel strategies and hone your brand voice to resonate with your target audience at different stages of their customer journey.

Engaging at Every Stage of the Customer Journey

We serve bitesize digestible content to audiences who are not financially savvy. From educational blogs and guides to tutorials and videos, we create a stream of value-driven content. Brand familiarity is promoted with press releases and influencer marketing. We nurture prospective customers (those who are aware of your bank but not opened an account) by engaging with them on social media through posts, quizzes, Q&A sessions, and more.

NTB (new to bank) customers, or those who have opened an account but are yet to make a deposit, are served with product-specific how tos and tutorials, email marketing, and newsletters. Existing customers are included in our marketing strategy, to promote higher retention as well as cross selling and upselling.

Ready to Level Up Your Marketing?

Veda is a trusted partner that has helped banks like yours and financial services providers keep their marketing and communication relevant with changing customer preferences.

Since you’re a tech-driven, online-only bank, your target audience is highly discerning. As your marketing communication gets scrutinized in the court of social media opinion, you need an expert partner for customer-experience transformation. Contact us today to set your brand tone and initiate conversation with your target audience and keep them engaged to boost the lifetime profitability of satisfied customers.

Neobank infographic