Fintech Start-ups: Why User Generated Content is the Way to Go in 2023
As a fintech start-up, it can be hard to stand out in a crowded market.
But there's one strategy that's proven to be a game-changer for many companies: user-generated content.
User-generated content (UGC) is any form of content that's created by customers or users of a product or service, rather than the brand itself.
This can include things like reviews, testimonials, social media posts, or videos.
One great example of a fintech company using user-generated video content in their marketing is Chime.
The company, which is a mobile-first banking platform, encourages their customers to create and share videos on social media platforms, showing how they use the Chime app to manage their finances.
Chime then reposts the best videos on their own social media accounts, and even features some of them on their website.
Why is user-generated video content so effective?
For one, it helps to build trust.
When potential customers see real people using and enjoying a product or service, they are more likely to trust the brand and consider trying it themselves.
Additionally, video content is extremely engaging and can convey a lot of information in a short amount of time.
People are more likely to watch a video than read a long article, and videos have a higher potential to go viral.
Another benefit of user-generated video content is that it allows fintech companies to showcase the real-life use cases of their products and services.
This can be particularly valuable for fintech companies, as financial products and services can sometimes be complex and hard to understand.
By showing real customers using the product or service in their daily lives, fintech companies can help potential customers better understand the value they can expect to receive.
Additionally, user-generated video content is often more authentic and credible than brand-generated video content.
It’s not just the company talking about how great their product is, but real people who have used it and can attest to its value.
This can be particularly powerful for fintech companies, as trust is a crucial factor when it comes to financial products and services.
However, it's important to note that to effectively leverage user-generated video content, fintech companies must have a clear strategy in place.
This includes identifying the right platforms to share UGVC, creating guidelines for user-generated content, and having a system in place to monitor and respond to any negative feedback or comments.
In conclusion, user-generated video content can be a powerful tool for fintech start-ups looking to stand out in a crowded market and build trust with potential customers.
It allows fintech companies to showcase real-life use cases of their products and services, and can be more engaging and authentic than brand-generated video content.
So, if you're not already incorporating user-generated video content into your marketing strategy, it's definitely worth considering in 2023.