Burn rate is a measure of spending divided by the number of employees within a company. For FinTech’s, burn rate can be spread across:

  • Labor
  • Data feeds (stock market and related real-time information)
  • Marketing
  • Fixed cost (utilities, rent, etc.)

and more. In this article, we’ll see how FinTech’s can reduce their marketing burn rate without reducing their audience reach.

Reaching Space Takes Lots of Rocket Fuel

Most every FinTech is created through venture capital funding. Usually, this means following the plan of get big and and get big fast. FinTech’s that grow through advertising need VCs to fuel their continued growth.

While ad spend can grow a business, it consumes a large part of the budget when its the main growth driver. Of course, there’s an assumption these ad spend dollars are being translated into growth. Advertising can be difficult to get right. But getting it right is necessary for a viable ROI.

Advertising can bring people to your website as long as you keep dropping cash into your ad account. Once the cash stops flowing, it isn’t uncommon to see traffic cease with it.

A Better Way To Reach Your Audience

What if you could continue attracting your target audience long after your initial investment?

How you ask. By focusing on what potential customers are interested in and the problems they want solve. Focusing your content on their interests can help drive traffic to your site and keep people engaged.

FinTech’s are on the cutting edge of financial technology, customer experience and regulation. These experiences and challenges provide great opportunities to let your potential customers know what your company is about, where it is heading and what its progress looks like.

Specifically, you can discuss the following in blog posts:

  • How is your app different from the competition?
  • How does your app make people’s lives better?
  • What great new thing does your app or website offer that you believe will keep potential customers engaged?
  • How will your app save potential customers money?

The above specifically speaks to the consumer. But there are others who are listening.

Don’t be afraid to talk about investment rounds. Discussing how much money you have raised and by who, if they are a big name, can lend credibility to your new company’s longevity and brand.

Leveraging What You Have

By creating content that speaks directly to customers and investors, you can continue leveraging it months and years into the future. The budget for such content will be less than ad spend and provide a higher ROI.