Fintechs are no longer a small band of renegades disrupting the financial services industry. With more than 12,000 firms worldwide, this is a noisy and well-entrenched business. While the industry has come into its own, many fintechs have unwittingly developed a similar look and feel. The brands that will win in the long run are those that have a compelling, well-crafted story and a distinct voice. The question is, how do you go about shaping a great brand?
Here are some basic guidelines:
You’re used to disrupting things, do the same for your brand. Developing a fintech platform takes inventiveness, a purposeful approach and a rigorously customer-centric mindset. The same applies to carving out a brand that has genuine presence and rings true for your audience while reflecting your core values and purpose.
Articulate what your brand stands for. Consumers gravitate to brands that have relevance and serve a meaningful purpose in their lives. Expressing why you exist in an authentic way is crucial to creating an enduring brand.
Cultivate brand presence. Far too many brands recede into the background because they lack presence—that inimitable quality that makes heads turn. It’s more than just a visual vocabulary and tone of voice. Read more about Brand Presence here.
Don’t forget the cultural context in which your brand exists. A shared culture is what connects people Reflecting that culture elevates the brand and makes it really resonate. Dig into the cultural trends, consider where humanity is headed and how your brand facilitates people’s aspirations or obviates their fears.
Consider a brand sprint. If you’re a fintech, chances are you’re used to agile sprints. Adopt the same methodology for developing your brand. A sprint is focused, fast, client-centric brand innovation in action. At Carpenter Group we offer two- to five-day brand sprints that can help you expand your idea space, distill your brand essence and create a brand roadmap for the future.
Enlist the experts. There are many branding agencies out there. Enlist a strategic brand and marketing consultancy with institutional knowledge of financial services and experience helping fintechs. Those are rare.
You’ve built a successful firm from the ground up. Building it into a resilient, long-standing brand takes a similar mindset and is crucial to building an enduring business. A differentiated brand with presence can pay big dividends in competitive leverage and market share.
At Carpenter Group we’ve helped fintechs and large financial services firms build brands that lead to successful outcomes. Want to start a conversation? Call Polly Carpenter, at 212-431-7851 or email firstname.lastname@example.org. Learn more at carpenternyc.com.