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How to Choose the Right Marketing Agency for a FinTech Company

Updated: 7 hours ago

Choosing the right marketing agency for a financial services company can be a challenging task considering the specifics related to the nature of products and services. Whether there is a B2B financial services company or a neobank, building an effective marketing campaign will require deep knowledge of the industry.

Furthermore, there are numerous regulatory and compliance requirements often restricting the way marketing information can be delivered as well as to whom it can be promoted.

What to look for?

When you realize there is help needed with your marketing activities, first look for agencies with relevant track record in finance and payments. As we mentioned above, the financial services industry comes with its specifics and your agency must know how to deal with them. An experienced agency will be much more effective with media buying, PR, content, and email marketing where it takes years to gain the necessary knowledge.

As the next step of evaluation, consider agencies that have experience working with businesses of your size. You don't want an agency that's used to working with household brands and doesn't know how to tailor its services to meet the needs of a smaller business.

Finally, take a deep dive into case studies. Take your time carefully analyzing the strategies, tools, and techniques used by an agency; don't hesitate to ask about the marketing budgets, ROI and other metrics to choose the most effective approach finally.

Evaluate the Experience

Talking about the experience, it is important to consider not only the vertical but the business type, company stage, challenges, and target goals. For example, the marketing strategy for a BaaS company will likely have nothing in common with a Neobank or Credit union marketing.

Pay attention to markets as well. Running a marketing campaign in the US, EU, and UK may require very different skills and knowledge even if there is the same product. Also, marketers not only need to understand the market, ideally, they must live and breathe it. For a marketer, being able to meet for a cup of coffee with a potential customer can be the most valuable thing. And for you, this is one of the biggest competitive advantages.

And, finally, evaluate if an agency has knowledge and background working with your audience (if defined). Understanding the target customers' habits, preferences and pain points is another competitive advantage of any business. On the other hand, the majority of fintech startups fail because they don't fully understand the needs of their customers. Those businesses spend enormous money getting new leads that can hardly be converted into happy (and paying!) customers.

Assessing the Marketing Agency’s Understanding of Your Company’s Needs

When you're assessing an agency's understanding of your company's needs, be sure to ask the following questions:

  • How much experience does your team have with financial services companies?

  • What types of services do you offer that are specific to financial services companies?

  • Can you share a case study or two that detail your work with a financial services company?

  • Do you have any team members who have backgrounds in finance or banking?

If the agency can answer these questions confidently, they're likely a good fit for your business. But don't forget that the best way to really assess an agency's understanding is to see how they think about and approach your specific challenges. So don't be afraid to probe deeper and ask for more details.

Verifying the Marketing Agency’s References and Portfolio

Once you’ve narrowed down your list, it’s time to take a closer look at a few agencies and decide which one is right for you. Of course, you'll want to check out their website and see what they offer, but don’t stop there. It’s worth verifying their references and portfolio as well.

The agency should be willing to provide you with a list of organizations they have worked with in the past and what kind of results they achieved for them. It’s also worth asking for details about the scope of their current projects, so you can have an understanding of what kind of workload the agency can handle and how much attention your project will get.

Finally, it helps to take a closer look at the campaigns that the agency created for its clients. A great marketing agency won't just come up with a good strategy—they should be able to execute it too! Take note of what techniques they used and get a feel for how creative they are in their approach.

Identifying Potential Cultural Fit Between You and the Agency

It’s also important to understand the culture of the agency and how it aligns with your own. As part of your search, you should consider what type of culture each agency has—it can range from collaborative and innovative to traditional and structured.

To identify potential cultural fit, one of the best ways is to meet with the folks at the marketing agency in person. You can ask questions about how they work, their processes, as well as their team’s experience with fintech businesses. Additionally, you should inquire about how they think about their clients’ success and how willing they are to tailor their services based on your needs.

When exploring agencies, don’t hesitate to ask for references from clients in similar industries and roles. This could provide you with a more comprehensive feel for the agency's personality—and whether working with them would feel like a good cultural fit for your business.

Budget Considerations When Selecting a Marketing Agency

It’s important to consider your budget when selecting a marketing agency. You want to find an agency that fits within your budget, but also provides the quality of service you are looking for. You should ask yourself if the services they provide match up with what you need and if they can provide it within your budget.

Be sure to consider what pricing model they offer before choosing them as your marketing agency. Some may charge an hourly fee while others prefer a flat fee or even a retainer fee. You should also be aware of any hidden fees or extra costs associated with certain services before deciding which marketing agency is right for your business. With all this in mind, you’ll be better equipped to make the best decision for you and your financial services company.


So, what is the best way to find the right marketing agency for your financial services company? Here are a few tips:

  1. Do your research. It is important to research different agencies and compare their services. Make sure to read reviews and see case studies of past work.

  2. Consider your budget. It is important to find an agency that is within your budget.

  3. Consider the agency's experience. Make sure the agency you choose has a lot of experience working in the financial services industry.

  4. Meet with the agency. It is important to meet with the agency in person to get a better idea of their services.

  5. Ask for references. Ask the agency for references of past clients so you can speak to them about their experience working with the agency.

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