Promotion of FinTech and Web3 Products and Companies on Social Networks

Choice of Channels for Promotion 

Successful social media promotion begins with choosing the right platform based on the target audience. The most popular social networks are: 

1. Facebook. The largest social network has a broad audience with a predominance of middle-aged and older people. The main context format is large texts, although images, videos, and online broadcasts are also available.
2. Instagram. The most popular social platform with an emphasis on visual content. Great for promotion through creative images, short videos, and stories. The audience is young people, with most users aged 18-34.
3. Twitter. A social network for quick news. The basic formats are short textual notes, and there is an opportunity to upload videos and images. The audience is educated and easily involved in dialogues and discussions. It is considered to be the most active Web3 and FinTech community. 
4. LinkedIn. A professional platform suitable for creating meaningful content, demonstrating one’s expertise, and interacting with FinTech professionals. The key social network for B2B communications. 
5. YouTube. The largest video hosting site. Great for product demonstration, training videos, interviews with experts, or case study reviews. 
6. TikTok. The “youngest” of the largest platforms, the feature of which is making short, creative videos. It is viral among young people and draws attention to a product through funny, innovative formats.

There are also several other major social platforms that can be used to promote FinTech products. These include Reddit, Pinterest, Snapchat, Telegram, Clubhouse, Discord, and others. Each has its specific characteristics, but cross-platform activity has the greatest effect. 

The key aspects of choosing specific platforms are segmentation of the target audience, peculiarities of the SMM strategy, and the availability of a resource for creating engaging and relevant content which can maintain active interaction with users and stimulate their engagement. 

Methods of Promotion in Social Networks 

It is worth mentioning that the use of social networks for promotion is part of SMM (Social media marketing), which in turn should be part of a more global marketing and communication strategy. Therefore, the most significant promotion efficiency can be achieved only if the global strategic plans are made correctly, and SMM is used as part of them. 

In the context of promoting FinTech products in social networks, the most common techniques are as follows: 

1. Content Marketing. Creation and distribution of informative, useful content capable of attracting and holding the audience’s attention, encouraging their interest in the sphere as a whole, and promoting products in particular.
2. Influencer Marketing. Collaboration with influencers and experts in the financial community who can recommend promoted products to their audiences.
3. Social Media Advertising. Using the power of targeted advertising to reach the target audience most interested in a specific product.
4. User-generated Content. Encouraging users to create their own content related to your promoted products increasing your audience’s reach and engagement.
5. Social Listening and Engagement. Tracking mentions of a brand or product on social networks and active interaction with the audience: responses to questions and comments, participation in discussions, troubleshooting, and dealing with critics.
6. Partnerships and Collaborations. Collaborations with other brands or organizations help expand your audience reach. 
7. Educational Content. Web3 and FinTech are complex fields, and quality educational content helps address global audience issues and, in context, shows the value of a particular product.
8. Contests and Giveaways. Organizing contests and giveaways can be an effective way to draw attention to a product and encourage interaction with the brand.
9. Community Building. Creating and maintaining a community of users around a product can increase customer engagement and loyalty and stimulate the organic distribution of information about the product. 

The choice of specific techniques depends on the characteristics of the product, its target audience, and promotion strategy. In addition, combinations of the above techniques are widely used, so there is no universal recipe. 

Analytics and Analysis of Effectiveness

To determine the effectiveness of the chosen social media promotion strategy, it is crucial to track and analyze specific metrics:

1. ROI (Return on Investment). A fundamental metric. Tracking ROI will help to assess how effectively social media costs are turning into profits.
2. Conversions. A crucial metric shows how many social media users complete the desired action, whether registering, downloading an app, buying a product, or subscribing to updates.
3. Reach and engagement. Tracking this metric allows you to assess the number of users who have seen publications as well as their level of interaction with the content, such as reactions, comments, and reposts.
4. Growth in the number of subscribers. Monitoring the number of subscribers and its dynamics can indicate how successful a brand or product is in attracting new audiences.

These are only key metrics; others can be used depending on the objectives, such as site traffic, citation index, etc. With the help of these metrics, you can assess the effectiveness of the promotion strategy, determine what is working and what is not, and constantly adapt and optimize the approach. 

Several paid services, such as Hootsuite, Sprout Social, Buffer, Socialbakers, and AgoraPulse, are available for cross-platform metrics tracking and insights searching. They differ in terms of functionality and sites that can be connected, so specialists choose the appropriate service for each project individually or use custom dashboards. 

Successful Cases of Promotion in Social Networks 

It’s important to note that big brands usually do not report on their success, so they can be identified only by analyzing social networks and indirectly mentioning them in interviews, press releases, and public reports. 

Among the most successful examples of promotion in social networks among companies in the FinTech and Web3 spheres are the following: 

1. Wise (formerly TransferWise) uses Instagram and Twitter for social communications, but its primary channel is Facebook. Social networks have allowed the brand to build a reputation as a transparent provider of international payment services and take a leading position in the payment services market. 
2. Revolut, an international FinTech startup, actively uses Facebook, Instagram, Twitter, LinkedIn, and TikTok to promote its services and brand awareness. The total audience in social networks exceeds 1 million followers. The company employs psychologists and behavioral science experts to increase its effectiveness in reaching audiences. In particular, social engagement has allowed Revolut to overtake Wise in the market. 
3. Robinhood, an investment platform, actively uses Facebook, Instagram, Twitter, LinkedIn, TikTok, and YouTube. One of the features of the brand’s communication strategy is its emphasis on educational materials designed to reduce the barrier to entry into the financial marketplace. 

Other FinTech and Web3 brands that are active on social media include PayPal, Zelle, Square, Mint, Acorns, Chime, Betterment, Credit Karma, Lending Club, Coinbase, Binance, and others. The presence in social networks and active work with audiences for modern brands is a must-have, so all active companies use this marketing tool, which allows you to solve a range of problems. 

By the way, CP Media has prepared a course on using TikTok in Web3 and FinTech marketing. You can find it on Udemy. The promo code for CoinsPaid Media readers is TIKTOKFORCPMEDIARS.