What are the Advanced Financial Technologies: A Quick Benchmark

This is our quick benchmark aboutFinTech Companies:

• 97% of executives say the pandemic sped up their digital transformation
• 95% say they’re looking for new ways to engage customers
• 79% say Covid-19 increased budgets for digital transformation
  (source: Forbes)

Your competitors are already going digital, and taking advantage of the New Advanced Financial Technologies and Covid-19 was just the means to an end. 

As the population grows, all information gets less manageable, and the financial sector needs more and more to keep up with the pace of the market. But going digital does not mean opening an Instagram account; E-commerce or Financial Technologies go far deeper than that. 

Advance financial technologies are all about information and data; they go from mobile payment apps (like PayPal or Apple Pay) to blockchain networks that host encrypted transactions. They make mobile banking, peer-to-peer payment services, automated portfolio managers, or trading platforms possible. 

And as everything goes digital, so are consumers:

This means that people no longer sit on a desktop and think a couple of hundred times before trying to make their first online purchase; they want easy access to finances, banking information, their accounts, the services they are paying for, and guess what? 

They got it. 

88% of financial institutions believe that part of their business will be lost to standalone FinTech companies by 2027 (Baloyi, 2021) -those who want to survive have already undergone a digital transformation. 

Generate Leads Moving Just A Finger: The Real American Dream 

Real Numbers About Sales Opportunities 

According to Hubspot, 72% of companies with less than 50 new opportunities per month didn’t achieve their revenue goals

Now, let’s address the American Dream

Selling is not an easy task in the world of free information. The service markets are in danger since every day, a new automated tool comes up and threats every expertise area there is, and with that comes the free tools, too, even freemium subscriptions. Things like mobile apps, professional-looking websites, or viral content on social media help greatly generate awareness and leads. 

The magic is about creating a good enough content/ experience for the user that lasts in time, stays on top, and keeps generating leads even when the company is not on top of the clients asking if they need the services. 

The Key to Sell Online 

• Mobile-first experience: a study by Perficient (“Desktop vs. mobile”) found that 63% of web traffic in the US comes from mobile devices.

• Content marketing: it creates three times as many leads as traditional marketing and costs 64% less (Source: Oberthaler, 2021)
• Tools: 90% of companies use two or more lead enrichment tools to learn more about prospects.

More Encouraging Facts about Social Selling 

• Half of a company’s revenue is influenced by social selling in 14 common industries, including computer software, healthcare, and marketing and advertising.
  

Tech isn’t going to make you breakfast (yet) 

And this is why…

• 19% of buyers want to connect with a salesperson during the awareness stage of their buying process when they’re first learning about the product.
• 60% want to connect with sales during the consideration stage after they’ve researched the options and come up with a short list.
• 20% want to talk during the decision stage, once they’re decided which product to buy.
• It takes an average of 18 calls to connect with a buyer.

(Source: Hubspot, 2021)

Why do you need personalized experiences?

People are people. And they like to speak with people. 

AI is not yet into Emotional intelligence, Creativity, Empathy, or Intuition-inspired problem-solving. It lacks feelings, but clients do feel, and they need to feel that the answer solves their problems: in the service markets, all issues cause feelings – technology, as good as it gets, doesn’t “feel.”

Newsletters are not emails, and message sequences are not conversations.

If you want to attract people (clients, customers, users) to your business, real people are the key, and you can use that to your advantage. At the same time, automation takes the lead in more repetitive but complex tasks, such as big data management or growth statistics.

The Success Equilibrium

The American dream has a name: Passive Selling. 

Now how do you get there? Through Financial Technology. 

• Banking is not about spending a whole morning sited in an office waiting to be seen or doing long lines to make a transaction. Now, it’s about downloading an app. 
• Selling a service is not about going house-to-house offering vacuums but about having a website or social media presence that sells and having the human power to answer the generated conversations.
• Trading is not about going to Wallstreet or exchanging pieces of signed papers but going completely digital with trading platforms. 

Conclusion

We have two sides of a coin: the automated side of the business, which should take care of repetitive or numerical tasks, and the human side, which should be on top of analysis and human interactions (such as making clients out of leads). 

Personalization is essential; humans are available to sell through emotion, be empathic, and understand the real problem they are solving for the client. 

Mobile-first is important, but desktop websites are important too. By 2020 the traffic on the finances websites in the US was led by desktop users (with more than 50% of traffic directed through a desktop) 

Everything is about a strategy that takes advantage of both worlds. 
Advanced Financial Technologies made all this possible: trading, online banking, data management… Want to know more? You can schedule a Free Consultation with us!