Women continue to be underrepresented in financial services, in technology, and in the C-suite across many industries. But our new report highlights how women CMOs are building some of the biggest brands in financial technology.
In an industry that generally receives poor marks for lack of female founders, female CEOs, and the difficulty women face in raising capital, fintech does have a growing number of female CMOs and heads of brand and marketing. We recently interviewed some of the industry’s most dynamic CMOs and shared our findings in a new eBook available to the public.
“As an agency that builds lasting brand awareness in payments and fintech, we work with a lot of CMOs who are a driving force within the innovative fintechs they serve,” said TFG founder and president Jennifer Tramontana. “These companies are rapidly expanding financial services by filling unmet needs in the market and creating brands that deeply resonate with their customers. With an industry as unique as fintech, we wanted to explore the unique contributions and insights they are using to lead the way.”
CMOs on the Record
The research surveyed women CMOs from brand-name fintech companies to ask what marketing strategies they buy into, what technology tools and investments they are making, strategies and challenges for attracting talent, what their marketing mix looks like and what their unique vantage point tells them about the future success and shortcomings of the fintech industry. Some of the key insights in the report, include:
Marketing spend is not slowing down in 2023: When it comes to planning for 2023, 100% of the CMOs interviewed plan to invest more or at the very least the same on marketing next year. Every CMO agreed that marketing spend is critical to stay competitive and meet sales and customer acquisition targets.
Increasing investment in PR and owned content: All CMOs use multiple tactics in their marketing mix, but when asked where they are increasing investment more than half of our respondents picked owned content and about a third chose PR. In terms of what content is most effective, most of the CMOs surveyed choose long form content over short form blogs, social, newsletters, and even video.
Martech tools add immense value, but also add the need for more experts: Developments in martech have been invaluable for executing more precise and efficient campaigns that meet acquisition and conversion goals while delivering the data needed to show success. CMOs share which martech tool they can’t live without, and agree that some kind of marketing automation software is a must-have tool. More importantly, they emphasized that the technology does not replace human resources but instead drives the need for more and different human resources. Companies that are not willing to invest in the right headcount are unlikely to reap the full benefits of these important tools.
For more on the women CMOs who are building some of the biggest brands in fintech, download the eBook and get 9 key insights from those leading the way.