Internal or External? How to build a marketing team to build your brand and business

by | Oct 13, 2020 | Newsletter | 0 comments

 

Fintech startups are an exciting place to be. They bring new innovations, build products, sell solutions, and some raise billions. But any fintech faces challenges. With a small founding team of technical experts, resources are scarce. The founder manages fundraising, sales, technology, recruitment and really everything. So how do you also build a brand, market your solution, draw investors and customers, and scale, all while staying ahead of competitive pressures?
There are two options for marketing: 1) build an internal team; 2) work with a team of external experts.
Internal: If you hire an experienced internal person, they won’t be able to manage every aspect of modern marketing – website, content, customers, SEO, SEM, social, channels, media, conferences and events, awards – first because no one is an expert in all areas, and second because there simply isn’t enough time in the day for one person to do all those things. And experience can be expensive, perhaps US12,000 to US15,000 per month for a marketing director. And if you hire an internal team, you need to budget even more.
External: Hiring a communications agency is productive, efficient, and cost effective. They are first and foremost a team, with a range of capabilities, from strategy, to writing, to digital, to lead gen. At LITMUS we have worked with 50+ FinTech’s, often working directly with the founder, sometimes with a senior marketer, and responsible for integrated marketing: strategy, lead gen, public relations, social content and campaigns, SEO, SEM, customer success stories, and sometimes design and video.
Our campaigns are aligned with the business roadmap and create business impact. For example, we have helped our clients raise US$600 million in funding. We have also managed investor relations, M&A, brand building, market entry, and product/service promotion, driving partner acquisition, and new customers.
So, what to look for in an external team?
Experience: do they have experience in your business – AI, blockchain, cloud, data, payments, funding, consumer finance, etc.? With that experience, they can hit the ground running, already knowing the technology, the issues and opportunities, and how to reach your audience.
Abilities: strategic counsel, planning, research, writing, media networks – knowing how to translate your business activities into marketing actions that reach your stakeholders, and drive your business.
Technical knowledge: use modern marketing technologies – audience profiling, social marketing, search engine optimization, search engine marketing, data analysis – so that the campaigns are comprehensive, cost effective, and deliver the communities and leads you need.

And so, if you are a fintech wondering about keeping it internal, and outsourcing to experts, talk to us at info@litmuspr.com.sg.