Hi there,
Thanks for reaching out. I'm happy to give you some initial thoughts and guidance on your PPC campaign and scaling your user acquisition in London for your Fintech start-up, while ensuring effectiveness and compliance. As you rightly point out, compliance and complexity are very important within the Fintech industry.
You'll need to look at compliance...
Compliance is absolutely critical in the Fintech space. Getting it wrong can lead to hefty fines and reputational damage, which no rapidly growing startup wants! When evaluating agencies, it's not enough for them to just say they understand compliance. Ask for specific examples of how they've navigated regulatory hurdles for other Fintech clients. What specific challenges did they overcome? How did they ensure ads and landing pages adhered to all relevant guidelines?
I remember one instance where a client in the gambling sector, in a similar situation, was expanding into new European markets. The ads looked fine, but the landing pages weren't fully compliant with local advertising regulations, so they got slapped with a hefty fine. It's a mistake you only make once and its essential to get it right from the start. They should be up to date on the latest regulations from the FCA and ASA, and any other relevant bodies.
Beyond just knowing the rules, they should have systems in place to proactively monitor and update campaigns as regulations change. The Fintech landscape is constantly evolving, so what's compliant today might not be tomorrow.
Don't just focus on ad copy. Compliance extends to every aspect of the user experience, from landing pages to data collection practices. For instance, are you clearly disclosing risks associated with investment products? Are you complying with data protection laws when collecting user information? Make sure the agency considers these points.
I'd say you will want to choose the right type of agency...
General PPC experience isn't enough. You need an agency that specialises in Fintech or has a proven track record of success in highly regulated industries. An ad that sells trainers ain't gonna cut it when you're talking about investments, y'know?
Look for agencies that can demonstrate a deep understanding of the financial services landscape. They should be familiar with the specific nuances of marketing financial products and services. Do they understand the target audience? Do they know how to craft compelling messaging that resonates with potential customers while remaining compliant?
Dig into their case studies and ask for references. Have they run successful campaigns for similar Fintech companies? What were the results? What were the key strategies they employed?
Ideally, they should have experience in your specific niche within Fintech (e.g., lending, payments, investment). This will give them a head start in understanding your business and the competitive landscape.
And don't forget to ask about their team's qualifications. Do they have certified PPC specialists? Do they have legal or compliance experts on staff who can review ad campaigns?
You probably should ensure they can do paid social media marketing...
Paid social media marketing can be a powerful tool for user acquisition, but it also presents unique compliance challenges. Social media platforms have their own advertising policies, which must be adhered to in addition to industry regulations.
Make sure the agency understands how to navigate these complexities. They should be able to create engaging social media ads that are both effective and compliant.
I recommend you ensure they are very familar with things such as clear and concise disclosures and disclosures of risks.
You'll need to do split testing...
I’d definitely optimise for conversions if conversions are the goal. The best ad platform is where the target audience can best be reached with the ad platform’s available targeting options. Wrong ad platform = wrong targeting = difficult to achieve results. And to optimise performance, I’d always split test creative and targeting within the same campaign.
This is the main advice I have for you:
| Area | Recommendation |
|---|---|
| Compliance | Prioritise an agency which has a proven track record in the Fintech sector, specifically PPC ads and compliance. Ask for specifics. |
| Expertise | The agency must have specialist Fintech experience, and know how to market financial products. |
| Paid Social Media Marketing | Ensure they know what they are doing with paid social media marketing. Clear disclosures and disclosures of risks are essential. |
| Split Testing | The agency should be well versed at split testing, you will need to optimise for conversions. |
I hope this advice helps.
Navigating the world of Fintech PPC can be tricky, especially when you're focused on rapid growth. Sometimes, it makes sense to bring in outside expertise to ensure you're on the right track.
I recall one campaign we ran for a B2B software company where we achieved a cost per lead of $22 using LinkedIn Ads. If you'd like to chat more about your specific needs and how we can help you scale your user acquisition efforts compliantly, feel free to book in a free consultation.
Regards,
Team @ Lukas Holschuh
