Hi there,
Happy to give you some initial thoughts and guidance on your fintech startup's go-to-market strategy. It sounds like you've got a solid vision, but translating that into a tangible plan for young adults is a common challenge. I've had quite a few campaigns for B2C software and mobile platforms, hopefully this helps you move in the right direction.
We'll need to look at what young adults actually want...
Forget what you *think* they want. This is the biggest mistake I see people making. Your brand vision is great, but it needs to connect with the actual needs and desires of your target audience. They're bombarded with payment options, so you need to stand out. What does your mobile payment platform do *better* or *differently* than, say, Apple Pay, Monzo, or even just using a debit card? Does it offer:
- Easier money management?
- Exclusive rewards or discounts?
- A more seamless or fun user experience?
- Better security or privacy features?
Figure out the core benefit – the one thing that will genuinely make young adults switch from their current solution – and absolutely hammer that home in your messaging. Don't just say "easy payments." Dig deeper and find the emotional connection.
I'd say you need to build hype...
Your GTM strategy, especially pre-launch, shouldn't *just* be about acquiring users. It needs to be about building hype, creating buzz, and making people feel like they're missing out on something special. I remember one payment platform we worked with early on. They did a few clever things:
- Referral program: Early sign-ups got exclusive access and a boosted interest rate. This made them feel like they were part of an "in crowd" and incentivized them to spread the word.
- Teaser campaign: They released cryptic clues and hints on social media, building anticipation for the launch.
- Influencer partnerships: They collaborated with relevant influencers to showcase the platform's features and benefits.
Think about what kind of feeling you want to create. Do you want people to feel excited, exclusive, empowered, or something else entirely? That feeling should drive all of your pre-launch marketing activities. Don't be afraid to get creative and experiment with different approaches.
You probably should survey your audience...
Have you done any surveys, focus groups, or user testing with your target audience *yet*? Because if not, you're flying blind. You need to validate your assumptions and get real-world feedback on your ideas *before* you invest heavily in marketing. A lot of companies are guilty of skipping this step. A few suggestions:
- Run online surveys: Use tools like SurveyMonkey or Google Forms to gather quantitative data on user preferences and pain points.
- Conduct focus groups: Assemble small groups of young adults and have them discuss your platform's features and benefits.
- Do user testing: Observe young adults using your platform and get their feedback on the user experience.
The insights you gain from this research will be invaluable in refining your marketing strategy and ensuring that you're actually addressing the needs of your target audience.
You'll need to test multiple channels
Consider leveraging multiple channels to reach young adults. While social media might seem like a natural fit, don't rule out other options like:
- Podcasts: Sponsor or advertise on podcasts that are popular with young adults.
- Streaming services: Run ads on streaming services like Spotify or YouTube.
- Gaming platforms: Partner with gaming influencers or run ads within popular games.
- University partnerships: Collaborate with universities or student organizations to promote your platform.
- Affiliate marketing: Partner with relevant websites or blogs to drive traffic to your platform.
The key is to experiment with different channels and track your results closely. See what works best for reaching your target audience and then double down on those channels.
You'll need to build partnerships
Building partnerships with other brands or organizations that target young adults can be a great way to expand your reach and credibility. I remember one campaign we worked on saw excellent results with a student discount offering and a university partner for their platform. Think about potential partners that align with your brand values and can help you reach a wider audience. This could include:
- Retailers: Partner with retailers to offer exclusive discounts or rewards to your platform users.
- Restaurants: Collaborate with restaurants to offer special deals or promotions.
- Entertainment venues: Partner with entertainment venues to offer discounted tickets or exclusive access.
These partnerships can help you create a more compelling value proposition and attract new users to your platform.
I've detailed my main recommendations for you below:
| Area | Recommendation |
|---|---|
| Target Audience | Conduct thorough research to understand their needs and preferences. |
| Pre-Launch Marketing | Focus on building hype and creating a sense of exclusivity. |
| Channel Selection | Experiment with multiple channels and track your results. |
| Partnerships | Build partnerships with other brands or organizations that target young adults. |
| Messaging | Make sure your vision conects with the actual needs of young adults. |
It's worth considering expert help to refine your GTM strategy. We've helped numerous fintech startups launch successfully and would be happy to offer a free consultation to discuss your specific needs.
Regards,
Team @ Lukas Holschuh
