Andrew Glaze is the founder and CEO of pile of money, an emerging fintech company. He is also a CFA, former investment banker and army veteran.
It’s been two years since the seeds were sown for Wealth Stack in August 2022 and started growing.
As I reflect on these past two years and everything, including the successful SEC registration, partnership with QuickBooks, and the honor of being selected for the 2022 ICBA ThinkTech Accelerator, I was suddenly filled with moments where I could Better.
Building a fintech platform is no joke. And, while I’m sure you knew this, it turns out to be a lot more complicated than I could have imagined. Before you sit down to launch the next “big idea” in fintech, here are six marketing lessons I learned while investing $1 million of my own money and two years of my life to build a Wealth Stack fintech platform .
1. Receive customer feedback quickly
Fintech is all about providing a better experience for users, and you can’t do it if you don’t know what they want. Getting feedback can be tough, but there are some ways to increase your chances of hearing from your customers.
First, make it easy for them to provide feedback by including a link or form in your app. Second, reach customers consistently via email or in-app messages. And finally, make sure you implement their honest feedback into your marketing practices and campaigns.
2. The . work with Correct agencies
When the team and I started building Wealth Stack, we didn’t know what we didn’t know. And, we didn’t know what we really were the wanted either. This took the team down a rabbit hole of marketing campaigns that missed the mark and tens of thousands of dollars were wasted on an agency that never delivered.
Therefore, it is very important that you are working with Correct agencies. This became completely apparent when I and the team transitioned Wealth Stack from a B2C business to a B2B business. While this likely comes as no surprise to most people as PreApps is considered the No. 1 app marketing agency in America, it was a pleasant surprise to work with them after spending an entire quarter dealing with the wrong agency.
Their team readily accepted our requests and did so in a professional and efficient manner. This is the kind of experience you should expect from an agency that is right for you.
3. Play to your strengths
Before the last few years, my job involved sitting at a board or desk as I moved billions with spreadsheets and raised capital from institutional investors. Or, before that, I was sitting behind a Black Hawk in Baghdad. They were my strength.
What I didn’t do was market or sell a service. They were not (yet) my strength. So, when I started building wealth stacks, I did what I always did. I talked to smart friends in the industry, like Colleen Brown who sits on our board, and Soo Kim, president of Bali, who is our biggest outside investor.
I Brought a Team of Talented Individuals Together While I Was Reading Books Hacking Growth: How Today’s Fastest Growing Companies Succeed, Top 101 Growth Hacks, Traction: Catch up on your business, Creating a Storybrand: Make your message clear so customers can hear, Ogilvy on advertising even more. I played to my strengths and focused on building momentum in areas where I lacked experience and expertise.
4. Build the Right Partnership
As the team and I built Wealth Stack, we gained continued positive feedback on the quality of content as well as confidence in absolute delight in the software. So, the team focused on a lot of content marketing with the hope of building the right partnerships. The company website now has 140 blogs and the app is close to reaching 100 videos which are updated regularly.
We then spread this content to communities across the US through partnerships with companies such as Q2 and QuickBooks as distribution partners. By focusing on building the right partnerships, we were able to work backwards with our content creation and content marketing, which has greatly benefited our bottom line.
5. Focus on Important Metrics
Where is the needle of your fintech app or platform going to move forward? Identify them and then communicate them effectively to your marketing team, consultants or any agency you work with.
Ultimately, I highly recommend that you work with consultants rather than hiring someone full time. Define success for you as tangible metrics that both parties can agree on. It allows you to keep everyone honest.
When you’re doing this, you’ll be baking in customer feedback, market research, and competitive analysis, so it makes sense to contract this job.
6. Find Your North Star
What is your “why” as a fintech company?
My earliest memories are of my mother teaching local children in the neighborhood how to prepare for various exams. She always volunteered to offer high quality education which was life changing for many.
She was an accountant and used her skills and experience to make meaningful contributions to communities. It took a toll on me, and it’s the reason I and the rest of the team are building Wealth Stack.
I was fortunate to have had the opportunity to study under Warren Buffett in Columbia, and my experience as a public director and hedge fund analyst at multi-billion dollar firms gives us a unique perspective that most people in America have ever had. are also not exposed. He is my north star.
We want to provide free education to others across America and help business owners access the tools they need.
Building a Fintech Platform is All About Catering to Your Users
Ultimately, what I’ve learned while building Wealth Stack’s apps and back-end platforms for businesses is that it’s all about the users. From designing a marketing strategy to developing the software they use, it pays to invest in understanding your users from the start.
Our ability to understand the market and meet its needs has transformed us from a “retirement solutions platform” to an all-in-one digital platform for business owners looking to attract and retain top talent while increasing employee engagement and revenue. allowed to transfer to the solution. ,
That’s the difference, isn’t it? it’s definitely made All Difference for this team.
Credit: www.forbes.com /