Article by Samuel Caink, Trainer at Solvay FinTech Marketing Hub

As a start-up, with a limited promotion budget, you don’t want to waste any money on attracting leads! There is nothing more frustrating to spend hundreds of euro to get visitors on your website or app while noticing that almost nobody is subscribing to your services. Here are 3 ways I want to share with you to ensure a better marginal rate of transformation:

1.Inspire confidence

When someone lands on your website for the first time, he or she knows nothing about you or who is behind the website. It is extremely important that you manage to inspire confidence right away! Moreover, people have lost faith in the banking sector and financial services since the crisis of 2008 – and so you, as a new player in FinTech, need to show that you won’t behave in the same way as the traditional actors.

There are various ways to show that you are a trustworthy company:

  • Provide easy ways to get in touch with you: on-site chat, Messenger, Whatsapp, phone number, etc.; people might just call to see if it’s 100% legit, however you need to be really quick to answer otherwise they will just bounce back;
  • Show the team: people want to know who are the people behind and what are their skills;
  • Share press articles: if the newspapers wrote about you, share the articles on your website and make them easily visible; it could be logos on the homepage « as seen in L’Echo » for example with a link to a newsroom elsewhere;
  • Share customers’ reviews: people love to have ‘second-hand’ opinions it helps their judgment; however there are two ways of doing it  « fake » quotes you put by yourselves or third-party websites such as Trustpilot or Yotpo that are well-known among customers and can provide your prospects with real verified reviews; the only drawback is that you have to be sure you are providing an excellent level of quality;
  • Logos, labels: sometimes, depending on your services/products, it could be interesting to show the logos of accreditations you have.

2.Keep it simple and short

Even if it is getting better nowadays, there is nothing more painful than subscribing online for a bank account in the traditional way. The process is too long and you are asked too many things which makes the transformation rate of such forms quite low.

Of course, in the case of a bank, you are legally obliged to collect a set number of data from your potential customers. However you shouldn’t duplicate paper forms with an identical digital one.

Number 26 is a really good example of a Fintech that managed to get this right. By asking you the minimum, you are able to open a bank account in less than 3 minutes. Of course, there are two additional steps (ID verification and debit card validation) but as a bank, what they want are the customers’ details and their agreement. Dividing your registration process in different steps is a really good trick. I would like to add that the first think you need to ask your prospects is their email address so you can reach them back if they quit before the end.

Another way to ease the process is by letting them sign in with their Google or Facebook account. Maybe some of you might be reluctant but it is more and more common for youngsters to login that way. They don’t have the same privacy fear as elders might have. Also, I am not saying that you should only put those two, you could have an additional way with a form to fill in for those not willing to login with their existing accounts.

3.Show them the products/services before registration

When you are buying stuff on Amazon, registration is the very last step you will take. You don’t need to register to search for products. It should be the same with your product/service. Can you give them a (limited) access to your offer without subscription? Can you showcase your offer with a video?

Registration shouldn’t be seen as an obligation. You shouldn’t push the customer to buy something because it’s the customer you will absolutely want to subscribe in order to have access to your unique offer.