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If you’re a FinTech startup, you’ll know that it’s crucial to succeed at customer acquisition. But this part of your operations can be a challenge. You probably have to come up against the intense competition. And your target audience may already be dizzy from all the messaging that other startups have thrown at them.

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How do you break through the noise to reach your potential customers?

Storytelling To The Rescue

There’s a lifeline you can use: storytelling. You can talk to the public about how your product or service can improve their lives. But instead of simply stating this as plain fact, you can communicate it as a story. You talk about people who have specific challenges, and how your product helps to solve their problems.

This approach works. That’s because humans are attracted to the narrative. We would rather read an interesting story than peruse a technical whitepaper. You can utilize storytelling in your marketing by casting your product as resolving a customer’s challenges. Make the story one that your target audience can identify with, and you’ll have their attention.

If you’d like to learn more about storytelling for business, read our article, The 10 Irrefutable Laws of Storytelling.

How Can FinTechs Use Storytelling Effectively?

Storytelling has become a big part of the marketing strategy of many businesses. If you’re keen on growing your FinTechbrand with storytelling, here are five steps you can take to do so.

Humanize Your Messaging

Ultimately, stories are crafted by humans, for other humans. The best storytellers know this, so they fashion narratives that resonate with their readers or listeners. In order to establish a strong connection with your audience, you should tell stories that are personal.

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Your marketing narrative has to be more than just a plain plot. It should have characters that your target audience can recognize as everyday people. Those characters’ may have dreams and ambitions like your readers and viewers, and be faced with problems that your audience shares. Incorporate these things in your brand stories, and tell them in a tone that’s humane and empathetic.

Be Purposeful

Create your stories with your final aim in mind. You want to capture and keep the attention of your potential customers. So make brand stories that ignite your audience’s interest. Incorporate elements like a central problem, suspense, and a resolution.

But don’t embellish your narrative or overstate your product’s problem-solving capabilities. This is especially important if you’re telling real-life stories. You want to stay credible in the eyes of your existing and potential customers.

Leverage Relevant Data

You’re more likely to convince people with storytelling if it includes relevant, verifiable data.

Let’s say you provide mobile money solutions to the unbanked. You may refer to the story of a customer named Hajara, who lives in a rural area and doesn’t have a bank account. To emphasize the relevance of her story, you could note that she’s one of 38 million Nigerians who are financially excluded.

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Besides buttressing the points you make, your use of data could also suggest that you have a thorough knowledge of your niche. That’s a good thing; customers are likely to trust you if you come across as well-informed about the sort of problems they face.

Emphasize Your Impact

Typically, marketing storytelling ends with a customer resolving their challenge with the help of a product or service. They come off better than they were at the beginning of the narrative.

Your story should show how your product or service improves the life of a person (or people) that use it. This part could make your potential customer interested in your offering. You’ll need to make it convincing. It should paint a pleasant destination for your customers, one that your product can help them reach.

Use The Right Channels

It is one thing to tell great stories, and quite another to get them across to your target audience. Unless you know where to find them, your storytelling efforts may fail to bear fruit.

You can push your story out via testimonials on your website, email newsletters, video and text on social media, blog posts, and online advertisements. Work with a combination of these options. Put them out frequently, consistently, and across channels, and you’ll grow your brand image over time.

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This article was first published on 26th May 2022


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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