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All Fintech PR should be Consumer PR

If you aren’t thinking about how to promote a fintech company — for example, a robo-advisor — from a consumer perspective, you are stuck in 2012 and will undoubtedly fail.

As I’ve said before, how people get information and how the media is covering the fintech and consumer tech space has drastically changed since it exploded over seven years ago. How to do PR better has changed as well.

The question is, what does it mean to approach fintech like consumer PR?

1. Tell the bigger lifestyle story — The story used to be really linear: “Save $25K by downloading this app.” And I think there’s still a place for what I’d call transactional PR. However, brands need to elevate above the transaction if they want to catch the attention of both future customers and the media. This means tying your services back to something much larger — like wellness, mental health, future comfort, etc. Any app saving or earning you money is making your life better! You are less stressed, more prepared for the future, more educated on money issues, etc. Find that narrative!
2. Consumer partners — Surround your company with consumer brands that also fit into this larger narrative. A coding bootcamp graduate can earn around $70K after they graduate. What will they do with all that money? Work is stressful (poor Millennials!) and apps like Talkspace give people instant access to therapists to deal with this stress. Find a larger lifestyle narrative and surround yourself with partners who can mutually benefit from the partnership.
3. Get outside of the typical media — Think about the top consumer and lifestyle outlets that young people read. From The Skimm to Refinery 29 to Cosmopolitan to Men’s Health, these outlets should be on your radar! Do a media audit of the top 10 consumer and lifestyle publications you want to be in and see if there’s opportunity.
4. Consumer influencer — Seven years ago, we’d hire a personal finance influencer. She would have been a millennial who probably lived in Florida, that had built a name for herself as someone who has a pulse on millennials and money. If you asked people on the street if they knew her, 10 out of 10 would have answered ‘no’. Don’t hire this person!!! Come at influencers from a consumer angle. Think of someone that can move product in any industry. You don’t need to be a money expert to be an influencer for a fintech company.

Conclusion: If you talk to a PR firm and they give you the traditional approach to driving awareness and conversions, escort them out of the building immediately. This isn’t 2012.