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Adi

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5

Growth Strategy for Fintech industry

Hi! I was thinking to get some insight regarding the growth strategy for fintech industry!

The goals are they want to increase their revenue, specific in they want to increase their daily usage of the apps. Im thinking about 2 things

1) organic growth: added new product/features, efficient the product, cooperate with other fintech/banks

2) non organic growth: M&A, divest some product, increase marketing (which is, cash burn)

Looking back for your feedback!

Cheers.

Hi! I was thinking to get some insight regarding the growth strategy for fintech industry!

The goals are they want to increase their revenue, specific in they want to increase their daily usage of the apps. Im thinking about 2 things

1) organic growth: added new product/features, efficient the product, cooperate with other fintech/banks

2) non organic growth: M&A, divest some product, increase marketing (which is, cash burn)

Looking back for your feedback!

Cheers.

5 answers

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Best Answer
Book a coaching with Adi

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If they specifically want to increase the daily usage of app, your ideas need to target that objective first then lay out other broad growth strategies.

Some ideas to increas daily app usage & keep users logged in for longer:

  1. Improve in-app user experience (very easy to use)
  2. Assure customers on cybersecurity first; launch biometric (fingerprint, face) login
  3. App only product offers
  4. New product features (appointment booking, remote advise etc)
  5. Gamify e.g. some rewards for x number of logins, x number of transactions, x number of referrals (friends & family) etc
  6. In app news- latest updates, money management advise, investment advise etc etc
  7. In-app messages to communicate with customers
  8. Two way communication via app chat i.e. allow customers to give feedback, suggestions etc

If they specifically want to increase the daily usage of app, your ideas need to target that objective first then lay out other broad growth strategies.

Some ideas to increas daily app usage & keep users logged in for longer:

  1. Improve in-app user experience (very easy to use)
  2. Assure customers on cybersecurity first; launch biometric (fingerprint, face) login
  3. App only product offers
  4. New product features (appointment booking, remote advise etc)
  5. Gamify e.g. some rewards for x number of logins, x number of transactions, x number of referrals (friends & family) etc
  6. In app news- latest updates, money management advise, investment advise etc etc
  7. In-app messages to communicate with customers
  8. Two way communication via app chat i.e. allow customers to give feedback, suggestions etc
Book a coaching with Udayan

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The split works well, good structure and points overall

Few more things to add if you want

Organic

  • Launch in new geographies
  • Launch a referral program
  • Build a community for your product

Inorganic

Just be more specific on what type of M&A you would do, what type of marketing channels would you look at etc.

Best,

Udayan

The split works well, good structure and points overall

Few more things to add if you want

Organic

  • Launch in new geographies
  • Launch a referral program
  • Build a community for your product

Inorganic

Just be more specific on what type of M&A you would do, what type of marketing channels would you look at etc.

Best,

Udayan

Book a coaching with Ian

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Hi there,

Overall, good structure. I'm a fan of splitting between organic and non-organic.

However, you need to have a true "approach" tied to this as well. So, how are you going to determine which growth areas to pursue? What will you look at to determine which one(s) will be best (fastest, most profitable, etc).

Hi there,

Overall, good structure. I'm a fan of splitting between organic and non-organic.

However, you need to have a true "approach" tied to this as well. So, how are you going to determine which growth areas to pursue? What will you look at to determine which one(s) will be best (fastest, most profitable, etc).

Book a coaching with Gaurav

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Hello! I like your structure and the ideas for a start are very good. If we start specifically from the goal of increasing the daily number of uses of the application, it is necessary to conduct research, studying what people want to see in them, depending on the specifics and purpose of applications. You can run as many ads as you want and use marketing, but without a flawlessly working application with the most convenient functions, people will not use it for long. Compare with competitors' apps. Maybe you will notice some interesting features that will make it much more convenient for your users to use.

The second point: what target group are they working for now and whether it can be expanded. Maybe for new segments, you can offer some new functions that will make them use it.

Was it helpful?
GB

Hello! I like your structure and the ideas for a start are very good. If we start specifically from the goal of increasing the daily number of uses of the application, it is necessary to conduct research, studying what people want to see in them, depending on the specifics and purpose of applications. You can run as many ads as you want and use marketing, but without a flawlessly working application with the most convenient functions, people will not use it for long. Compare with competitors' apps. Maybe you will notice some interesting features that will make it much more convenient for your users to use.

The second point: what target group are they working for now and whether it can be expanded. Maybe for new segments, you can offer some new functions that will make them use it.

Was it helpful?
GB

Book a coaching with Clara

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Hello!

That is a good start, so to say, 1st branch of the tree. However, now you need to keep going in each of them.

  • Organic:
    • Geographies
    • Product mix
    • Channels
    • Clients mix
    • etc.
  • Non-organic:
    • Strategic KPIs to look into when you look for a target
    • Post-merger integration
    • etc.

Best,

Clara

Hello!

That is a good start, so to say, 1st branch of the tree. However, now you need to keep going in each of them.

  • Organic:
    • Geographies
    • Product mix
    • Channels
    • Clients mix
    • etc.
  • Non-organic:
    • Strategic KPIs to look into when you look for a target
    • Post-merger integration
    • etc.

Best,

Clara

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