Fintech is a shortened word for the Financial Technology Industry. Fintechs are Digitalised Banking Platforms that offer some of the services provided by Commercial Banks. Some of these services include bill payment, transfer, and loan acquisition.
Currently, the fintech industry is making a huge impact on the nation’s economy. Digital media has been playing a vital role in positively impacting them.
Achieving an optimal result with Digital Media
Fintechs easily target their audience, which helps them easily reach them via App downloads and consistent interaction on different social media platforms.
Well-tailored marketing strategies are put on the faces of existing and potential customers through sponsored Adverts to raise brand awareness.
There are results to show for this including metrics and statistics over time.
Success Stories
- With a projected 4.14% annual growth of social media advertising and a market volume of $139.5 million according to Statista, the long-term result is that Fintechs would recoup more than the expenditures spent on their social media marketing later on.
- Improved lead generation and conversion of most leads to customers.
- A rich potential for more revenues. In a 2022 McKinsey report, it has been projected that Africa’s Fintech market could grow by 10% yearly thereby reaching around $230 billion in revenues by 2025. According to the same report, Nigeria’s Fintech market alone accounts for one-third of the whole of Africa.
Do you want learn more about how digital media has shaped not just the Fintech, but other industries as well? Click here.