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• GDPR Compliance Checklist : A Detailed Walkthrough

  14 septembre 2023, par Erin — GDPR

  As digital transformation drives global economies, data has become a valuable currency to businesses of all shapes and sizes. As a result, the complex issue of data privacy is often in the spotlight.

  The General Data Protection Regulation (GDPR) is the key legal framework in the European Union to protect individual privacy and regulate business data handling. 

  Compliance with the GDPR is not just a legal mandate, it’s also good business. An 86% majority of users want more control over their data and 47% of users have switched providers over data privacy concerns.

  To help guide your business decisions around user privacy, this article will cover the key principles of GDPR, including a comprehensive GDPR compliance checklist.

  The key principles and requirements of GDPR

  Before we can translate GDPR’s objectives into practical steps, let’s begin with the defining features and key principles.

  GDPR : An overview

  The GDPR bolsters and unifies data protection standards for everyone within the EU. Enacted in 2018, it represented a seismic shift for companies and public authorities alike in protecting personal information. Its primary objective is to offer greater control to individuals over their data and to hold organisations accountable for its protection.

  GDPR establishes a legal framework that mandates corporate compliance with key principles to ensure user data security, transparency and choice. It sets the terms for your organisation’s privacy practices and the landscape of legal obligations you must navigate in data handling. 

  Key principles of GDPR

  There are seven core principles pivotal to GDPR compliance, which provide a roadmap for ethical and legal data practices.

  

  • Lawfulness, fairness and transparency : This principle demands lawful and fair processing of personal data. Companies should be transparent about their data processing activities, providing clear information in an accessible form.
  • Purpose limitation : Personal data should be collected for explicit, legitimate purposes and not further processed in a way incompatible with those purposes. This demands careful planning of data processing activities.
  • Data minimisation : Companies should only collect personal data that are necessary for their specified purposes, as anything more than this is illegal. This principle emphasises the importance of limiting scope, rather than performing blanket data collection.
  • Accuracy : This principle calls for maintaining data that is accurate, up-to-date and not misleading. Regular internal audits and updates are crucial to following this principle.
  • Storage limitation : Personal data should only be kept for as long as necessary for the purposes for which it was collected. This underscores the need for a detailed retention policy in your GDPR compliance efforts.
  • Integrity and confidentiality : Companies should protect personal data from unauthorised or unlawful processing and accidental loss or damage. Your organisation’s technical security measures play a vital role in this.
  • Accountability : Organisations should be able to demonstrate their compliance with GDPR principles. This underscores the importance of records of processing activities and regular audits as part of your compliance checklist.

  The importance of GDPR compliance for businesses

  Embracing GDPR compliance isn’t merely a matter of avoiding penalties — it’s a commitment to principles that reflect integrity, transparency and respect for personal data. At Matomo, we champion these principles, empowering companies with powerful and compliant web analytics. We make the compliance journey accessible and straightforward, making sure website analytics aligns with legal obligations and ethical practices.

  The implications of non-compliance

  It’s easy to highlight the dramatic fines imposed on tech giants such as Google and Meta. However, it’s essential to recognise that GDPR compliance extends to all companies, including small businesses — for whom even smaller fines can have a significant impact.

  The implications of non-compliance aren’t limited to financial penalties alone, either. Failing to meet obligations can tarnish reputations, erode trust and hinder business activities. Non-compliance could lead to a breach of privacy policy, causing a ripple effect that may be challenging to overcome.

  The potential benefits of being GDPR compliant

  Adhering to GDPR regulations is more than a checkbox on a form — it’s a comprehensive approach to handling personal data responsibly. It fosters trust, opens doors to European customers and builds enduring relationships with individuals whose rights are protected. In fulfilling these obligations and practices, businesses not only meet legal requirements but also foster a culture of ethical conduct and business success.

  Comprehensive GDPR compliance checklist

  Ensuring GDPR compliance may seem like a complex task, but this detailed checklist will simplify your journey. From consent management to data security, we’ve got you covered.

  

  Establish personal data collection and consent management

  When it comes to GDPR compliance, not all consent is created equal. Two distinct forms exist : explicit consent and implied consent. But what exactly sets them apart, and why does it matter to your organisational measures ?

  Explicit consent from users means that the individual has unequivocally agreed to the processing of personal data. It’s an unambiguous agreement, often obtained through a deliberate action like ticking a box. Details are paramount, as the person giving consent must be fully informed about the processing activities.

  • Inform clearly : Use plain language to explain how data will be used and be transparent about processing practices.
  • Obtain active agreement : Use forms or checkboxes (not pre-ticked boxes) to ensure active participation and that you are obtaining explicit user consent.
  • Document it : Keep records of consent, including when and how it was obtained, as a crucial part of your compliance efforts.
  • Facilitate withdrawal : Use consent mechanisms that allow for easy withdrawal of consent for users who decide to opt out.
  • Manage consent forms : Tools like Matomo’s Consent Management Platform can provide accessible forms that not only enhance transparency but also empower individuals, allowing them to feel in control of their details and rights.

  Facilitate data subject rights and access requests

  GDPR emphasises individual rights by empowering users with control over their personal data processing. Here’s a succinct breakdown :

  • Know the rights of individuals : GDPR outlines individual rights such as data access, error rectification, erasure and data portability, allowing individuals to guide how their details are used, processed or shared.
  • Simplify complying with access requests : Companies must respond to access requests efficiently, usually within one month, without undue delay, reflecting organisational measures of respect.
  • Employ ethical and compliant digital analytics : As a leader in ethical web analytics, Matomo subtly aids in compliance efforts, protecting privacy without compromising functionality.

  These practices align with a modern understanding of privacy, emphasising more than legal obligations. By employing Matomo, companies simplify the processing of access requests, which fosters transparency and user control over personal data.

  Implement clear data privacy practices

  Data privacy and consent mechanisms are key tools for compliance. Crafting a comprehensive privacy policy helps protect individuals’ rights and provides integrity in personal data processing. Designing sites and applications with data protection in mind ensures your compliance from the ground-up.

  • Create an easy to understand privacy policy : Create a clear, GDPR-compliant privacy policy that details processing activities, storage limitations and organisational measures, all in plain language. 

  By implementing these steps, companies not only adhere to their legal obligations but also foster an inclusive community that values privacy and ethics. Whether you’re an IT professional or marketer, Matomo’s platform can guide you through the maze of GDPR complexities, inspiring positive change towards responsible data handling.

  Implement data storage limitations and robust security

  Data storage and security are foundational elements of compliance efforts. Companies must foster a proactive approach to preventing data breaches by understanding potential cyberthreats and enforcing appropriate security controls across applications and infrastructures.

  

  • Implement storage limitations : Define limitations on time and scope to avert undue retention and protect personal details.
  • Embrace technical security : Utilise secure processes like encryption, access controls, firewalls and so on, bolstering protection by design.
  • Establish a comprehensive security policy : Align security practices with privacy laws and regulations, including GDPR.
  • React swiftly to personal data breaches : A security breach requires an immediate response, without undue delay, to honour legal obligations and maintain customer trust. Develop a plan for notifying supervisory authorities and affected individuals promptly in the event of a personal data breach.

  Security measures for personal data are about more than just fulfilling legal obligations — they’re about building a safe and ethical digital ecosystem that instils confidence in customers.

  Keep cross-border data transfers in mind

  Cross-border data transfers present a unique challenge, with increased complexity due to varying data privacy laws across regions. You must understand the respective regulations of participating countries and align your compliance practices appropriately to respect all that are relevant to your organisation. 

  For example, data privacy laws in the US are generally more lax than the GDPR so US companies taking on EU customers must hold themselves to a higher standard, with stricter controls placed on their data processing practices.

  • Evaluate third-party services : For companies utilising global networks of third-party services, be sure to select providers that maintain ongoing knowledge and vigilance towards privacy law compliance. Platforms like Matomo that innately prioritise transparency and privacy, have implemented robust security measures, and document transfers diligently are worth considering. 

  Conduct internal audits and compliance checks

  Compliance is not a “one and done” setup, but an ongoing journey requiring regular internal audits. Systems settings can drift over time, and datasets can become increasingly complex as companies scale. Human error happens, too. Audits identify gaps in your compliance efforts to guide actionable improvements. 

  • Conduct regular audits : Stay proactive with internal audits and systematic monitoring, adapting policies to align with privacy laws. Clarity in privacy notices and cookie banners fosters confidence, while regular assessments ensure alignment with GDPR requirements.
  • Ensure transparency : Platforms like Matomo simplify audits, offering valuable insights and support for ethical web analytics and transparency. The right platform can increase visibility and make generating your reports easier. Integrating these processes guarantees GDPR-aligned measures while emphasising data ownership and customer-centric values.
  • Educate and train staff : Engage in ongoing staff education and training on GDPR compliance, privacy policies, and their related responsibilities.

  

  Case study : GDPR compliance in action

  Achieving compliance with the General Data Protection Regulation (GDPR) stands as a paramount concern for businesses worldwide. Both small and large companies have embarked on this journey, implementing measures and revising privacy policies to conform to these regulations.

  Typeform

  Based in Ireland, Typeform, a company dealing with online forms, took GDPR compliance very seriously. Here’s how they achieved it :

  1. Conducting a data protection impact assessment (DPIA) : This vital step helped them assess personal data breach risks and enabled systematic monitoring of potential challenges.
  2. Implementing technical and organisational measures : Security measures such as encryption, access control and drafting a security policy reinforced their personal data processing mechanisms.
  3. Revamping privacy policy : They transformed their privacy policy with accessible, plain language, making it clear and user-friendly.
  4. Appointing a data protection officer (DPO) : This aligned with their core activities and strengthened their compliance efforts.

  The benefits for Typeform were profound :

  • Enhanced customer trust and confidence
  • Reduced risk of fines and penalties
  • Bolstered data security and privacy
  • Improved brand reputation, positioning them favourably among European customers

  Ensuring GDPR Compliance with Matomo Analytics

  Matomo is more than just an analytics platform ; it is a trusted guide in the realm of data privacy. Our mission is to empower users with full data ownership, fostering an inclusive digital community built on trust and transparency. Our suite of features has been meticulously designed to align with GDPR regulations, ensuring that businesses can navigate the complexities of compliance with ease and confidence.

  1. Data Anonymisation

  Matomo’s focus on ethical digital analytics means the platform allows for the anonymisation of user data, ensuring that individual identities remain protected.

  2. Robust GDPR Management

  Beyond just a GDPR Manager, Matomo provides an encompassing framework to streamline compliance activities. From managing user consent to meticulous record-keeping of processing activities, Matomo ensures you are always a step ahead.

  3. User Empowerment with Opt-Out Capabilities

  Matomo respects user choices. The platform offers users an easy way to opt-out of all tracking, giving them control over their data.

  4. First-party Cookies as the Standard

  By using first-party cookies by default, Matomo ensures data remains with the website owner, minimising potential breaches or misuse.

  5. Transparent Data Collection Practices

  Users have the right to know their data. With Matomo, they can view the exact data being collected, reinforcing a transparent relationship between businesses and their users.

  6. Visitor Data Management

  Upon request, Matomo offers capabilities to delete visitor data, aligning with the GDPR’s right to be forgotten.

  7. Data Ownership and Privacy Assurance

  Unlike other web analytics platforms, with Matomo, you retain full ownership of your data and can rest assured that it is not being used for other purposes such as advertising.

  8. IP Anonymisation

  Protecting user location details, Matomo anonymises IP addresses, adding an additional layer of privacy.

  9. Customisable Data Visualisation

  Recognising that not all data is essential, Matomo allows the disabling of visitor logs and profiles, giving businesses the flexibility to decide what data they track.

  By taking a holistic approach to GDPR compliance, Matomo streamlines the processes for you and ensures you follow the legal and ethical best practices.

  

  Start your GDPR compliance journey today

  The global focus on data privacy requires using a GDPR compliance checklist. With 137 countries implementing data protection laws (UN), companies must align with international standards. Compliance, after all, goes beyond avoiding breaches— it’s about upholding privacy and building trust.

  As your trusted guide, Matomo invites you on this GDPR journey. With us, you’ll uphold privacy obligations and manage your processing activities effectively. Compliance isn’t a one-time task but a continuous journey to enhance practices and align with individual rights. Start this vital journey with Matomo today. Try it free for 21-days. No credit card required.

  Disclaimer

  We are not lawyers and don’t claim to be. The information provided here is to help give an introduction to GDPR. We encourage every business and website to take data privacy seriously and discuss these issues with your lawyer if you have any concerns.

• The Only 7 Lead Generation Tools You Need in 2024

  7 mars 2024, par Erin

  If you can’t get leads, you can’t get customers. To ensure you always have a steady stream of new customers (and revenue), you need to equip yourself with lead generation tools.

  Lead gen software does the heavy lifting for you so you can focus on providing great products and great services. With it, you’ll be able to turn more strangers into customers and grow your business.

  And you don’t need a ton of tools to get the job done, either. Consolidating your tech stack to a few select tools will help you get more done in less time (and with less confusion).

  In this article, we’ll analyse the top seven lead generation tools to help you grow your business in 2024.

  Let’s dive in.

  What is a lead generation tool ?

  A lead generation tool is software you can use to turn strangers into customers. It helps you draw customers into your sales funnel by learning their contact details, like their email address or phone number.

  

  Lead generation tools are great levers you can pull to drive high-quality leads. They remove the grunt work by automating the lead generation process. 

  Whether it’s through creating lead magnets, offering conversion rate analytics, helping you create high-quality forms or automating the lead follow-up process, lead generation tools can bring in new customers to grow your business.

  The top 7 lead generation tools in 2024

  To land more leads, you need to ensure you’re leveraging the right software. With so many to choose from, here’s just a handful of the best ones available :

  

  1. Matomo : Best conversion optimisation tool

  Matomo is an open-source website analytics tool dedicated to protecting user privacy and data. Trusted on over 1 million websites, the platform offers in-depth insights into your web traffic, including conversion data.

  

  Why Matomo ? Matomo is trusted by over 1 million websites, including the United Nations and the European Commission, making it the leading choice for privacy-focused web analytics.

  It comes equipped with a suite of conversion optimisation features to help you generate more leads. You can easily analyse your target audience’s behaviour while also respecting users’ privacy.

  Standout features : In-depth visitor tracking, From Analytics, Session Recordings, A/B Testing, Heatmaps Marketing Attribution, roll-up reporting (pulling data from multiple sites), Google Analytics importing. and more.

  Integrations : Cloudflare, WooCommerce, Squarespace, Shopify, Drupal, Magento, Vue, SharePoint, WordPress, Wix, Webflow, GoDaddy, Jimdo, Joomla, Kajabi. and more.

  Pricing : Starts free for Matomo On-Premise and increases to $23/month for Matomo Cloud (which includes a free 21-day trial with no credit card required).

  Pros

  • 100% accurate data with no data sampling
  • Leading web analytics tool for respecting visitor privacy
  • Compliant with the strictest privacy laws, like the GDPR
  • No need for cookie consent banner (except in the UK and Germany)
  • Wide range of advanced features to optimise your website and increase conversions
  • Cloud hosting and on-premise options for flexibility

  Cons

  • Matomo On-Premise requires technical expertise (but for the less technical, the Cloud option works instantly)
  • On-Premise plugins are an additional cost

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

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  2. HubSpot : Best all-in-one CRM for organising leads

  HubSpot is a customer relationship management (CRM) and marketing software with over 194,000 customers worldwide. This user-friendly platform is dedicated to helping businesses of all sizes manage leads and customers.

  

  Why HubSpot ? HubSpot Marketing integrates seamlessly with the HubSpot CRM to help with everything from lead capture to conversion. The platform also features a free version — a great starting place for lead generation and management.

  Standout features : A robust set of no-code lead gen tools, like ads, forms, customisable landing pages, lead capture templates for potential customers, email campaigns, analytics dashboards and a free CRM to track leads.

  Integrations : Google Ads, WordPress, Jotform, Facebook Ads, Magento, Shopify, Weebly, WordPress, Zapier and Drupal.

  Pricing : Starts free for anyone and increases to $800/month for a professional plan.

  Pros

  • User-friendly interface
  • All-in-one lead management solution
  • Easy integration with HubSpot CRM
  • Simple analytics for beginners
  • Includes landing page tools
  • Offers email marketing tools to nurture leads

  Cons

  • Free version has limited functionality
  • Expensive jump to paid plans

  3. Leadfeeder : Best for finding warm B2B leads

  Leadfeeder is a business-to-business (B2B) marketing tool that shows B2B brands which companies are visiting their websites and gives them contact information to reach out to the right decision-makers.

  

  Why Leadfeeder ? Leadfeeder simplifies outreach for B2B organisations because it shows you what businesses are interacting with your website. Rather than trying to reach out to completely cold leads, the tool highlights brands that are already checking out your content and offerings.

  Standout features : Many account-based marketing (ABM) tools enable you to discover B2B accounts with insights into when you should contact them after they visit your site, as well as their job titles. The platform also includes a range of features that notify you and your sales team when qualified B2B leads come to your site so that you can move to capture them quickly.

  Integrations : Zoho, Google Chat, Pipedrive, Salesforce, Google Looker Studio, ActiveCampaign, HubSpot, Mailchimp, Microsoft Dynamics and Slack.

  Pricing : Starts at $139/month (includes a 14-day free trial).

  Pros

  • Easily find prospective customers
  • Track website visitors and potential customers freely
  • Simple filtering capabilities

  Cons

  • Few integrations available
  • Can be difficult to contact customer support

  4. OptinMonster : Best all-in-one lead generation form tool

  Founded in 2013, OptinMonster has over 1.2 million users worldwide. It offers a wide range of lead gen tools led by robust form tools that turn your target audience into leads.

  

  Why OptinMonster ? The platform is one of the most reputable lead generation platforms available. With nearly 100 lead capture templates, it’s highly customisable to almost any business looking to begin capturing leads with different forms.

  Standout features : 95 customisable form templates, drag-and-drop builders, onsite retargeting, segmentation, A/B testing and exit-intent popups that present forms when a user is about to leave the site.

  Integrations : Constant Contact, ConvertKit, ActiveCampaign, Salesforce Pardot, Campaign Monitor, HubSpot, Jilt, Keap and Mailchimp.

  Pricing : Starts at $16/month (no free trial offered).

  Pros

  • Easy drag-and-drop form-builder
  • Wide range of form templates
  • Customisable forms for any business
  • Simple A/B testing to help optimise form performance

  Cons

  • No free trial available
  • Growth features, like onsite retargeting, are only available on higher-tiered plans

  5. Intercom : Best live chat tool for capturing leads

  Intercom is one of the top live chat tools for helping businesses maintain solid communication with their customers. Founded in 2011, this live chat platform serves over 25,000 users around the world with a simple, sophisticated experience and seamless lead generation features.

  

  Why Intercom ? Intercom is a live chat tool first. But many people don’t know it’s also a simple lead capture tool. When people think of lead generation, they think of static or popup forms. But Intercom allows you to capture forms directly within a live chat conversation.

  Standout features : Lead generation via live chat that allows you to naturally capture potential customers’ information to turn them into a lead. The tool also comes equipped with chatbots that can automate the communication and lead gen process on autopilot.

  Integrations : Pipedrive, Typeform, Google Analytics, Zapier, Calendly, Salesforce, Stripe, Campaign Monitor, Clearbit Reveal and HubSpot.

  Pricing : Starts at $39/month (with a 21-day free trial).

  Pros

  • Live chat lead gen capture
  • Chatbot lead generation automation
  • Wide range of integrations and apps
  • User-friendly interface

  Cons

  • Fairly expensive for small businesses
  • Customer support isn’t the fastest

  6. Callingly : Best for making inbound calls with leads

  Callingly is a sophisticated call software that lets you get the most out of every inbound call you get from leads. Founded in 2019, this software company gives valuable insights into your inbound call leads, pulling information from various integrations and forms.

  

  Why Callingly ? Callingly is a robust call software that gathers lead information through forms, lead magnets, landing pages and forms. The software also has intelligent routing, which sends a call to the most relevant salesperson.

  Standout features : Advanced lead routing ensures inbound leads are directed to the most appropriate sales rep based on their unique needs and geographic location. The tool is also equipped with call tracking, analytics, lead source tracking and more to help personalise the experience for quick capture and conversion of leads.

  Integrations : ClickFunnels, Pipedrive, Salesforce, Drip, Aircall, HubSpot, Jotform, OptinMonster, Unbounce and Zapier.

  Pricing : Starts at $49/month (with a 14-day free trial).

  Pros

  • Instantly see robust caller information based on previous interactions
  • Intelligent routing places leads with the right sales reps
  • Call recordings to capture data and transfer it into your CRM
  • Voicemail and caller ID capabilities
  • Reporting and analytics for performance tracking

  Cons

  • Doesn’t include lead segmentation
  • Limited customisations
  • No email integration

  7. Notion : Best for creating informational lead magnets

  Notion is one of the most popular collaboration tools on the Internet. Founded in 2013, the platform has over 35 million users worldwide. While it’s known primarily for its advanced note-taking capabilities, Notion is also a simple tool you can use to create informational lead magnets.

  

  Why Notion ? Notion is a simple yet powerful tool you can use to create almost anything. If you want to generate more leads, then creating a free info product with Notion is a simple and effective way to do that. It enables you to create ebooks, digital courses and video courses without having to rely on expensive software.

  Standout features : Documentation tools, note-taking, collaborative documents and duplication capabilities. It’s simple to create a high-value informational product, like an ebook or course with multiple chapters.

  Integrations : Audienceful, Miro, Momentum, Slack, ChatGPT, Clockify, Desktop.com, SureTriggers, Trello and Google Drive.

  Pricing : Starts at $8/month (no free trial available).

  Pros

  • Easy to create a digital product or lead magnet
  • Leads have access with a simple link
  • Lead magnet can be updated in real time
  • AI writing assistant
  • Drag-and-drop functionality
  • User-friendly interface
  • Low-cost pricing plans

  Cons

  • No free trial available (though there is a free version)
  • Search function could use some improvement
  • Performance isn’t the fastest

  Use Matomo to generate more leads

  If you want more leads, then you need to start tracking your website’s forms.

  With Matomo, you get access to features like Form Analytics, A/B Testing, Heatmaps, and Session Recordings to help with conversion rate optimisation.

  Recently, Concrete CMS leveraged Matomo’s funnel analysis feature to improve its lead capture. The CMS was then able to identify bottlenecks in user onboarding. Matomo’s insights showed that users were getting stuck at the address input stage of the form.

  By tweaking their form, Concrete CMS tripled their leads in just a few days.

  If you want to improve your lead generation, then get started with Matomo’s 21-day free trial today. No credit card required.

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• 7 Fintech Marketing Strategies to Maximise Profits in 2024

  24 juillet 2024, par Erin

  Fintech investment skyrocketed in 2021, but funding tanked in the following two years. A -63% decline in fintech investment in 2023 saw the worst year in funding since 2017. Luckily, the correction quickly floored, and the fintech industry will recover in 2024, but companies will have to work much harder to secure funds.

  F-Prime’s The 2024 State of Fintech Report called 2023 the year of “regulation on, risk off” amid market pressures and regulatory scrutiny. Funding is rising again, but investors want regulatory compliance and stronger growth performance from fintech ventures.

  Here are seven fintech marketing strategies to generate the growth investors seek in 2024.

  Top fintech marketing challenges in 2024

  Following the worst global investment run since 2017 in 2023, fintech marketers need to readjust their goals to adapt to the current market challenges. The fintech honeymoon is over for Wall Street with regulator scrutiny, closures, and a distinct lack of profitability giving investors cold feet.

  Here are the biggest challenges fintech marketers face in 2024 :

  • Market correction : With fewer rounds and longer times between them, securing funds is a major challenge for fintech businesses. F-Prime’s The 2024 State of Fintech Report warns of “a high probability of significant shutdowns in 2024 and 2025,” highlighting the importance of allocating resources and budgets effectively.
  • Contraction : Aside from VC funding decreasing by 64% in 2023, the payments category now attracts a large majority of fintech investment, meaning there’s a smaller share from a smaller pot to go around for everyone else.
  • Competition : The biggest names in finance have navigated heavy disruption from startups and, for the most part, emerged stronger than ever. Meanwhile, fintech is no longer Wall Street’s hottest commodity as investors turn their attention to AI.
  • Regulations : Regulatory scrutiny of fintech intensified in 2023 – particularly in the US – contributing to the “regulation on, risk off” summary of F-Prime’s report.
  • Investor scrutiny : With market and industry challenges intensifying, investors are putting their money behind “safer” ventures that demonstrate real, sustainable profitability, not short-term growth.
  • Customer loyalty : Even in traditional baking and finance, switching is surging as customers seek providers who better meet their needs. To achieve the sustainable growth investors are looking for, fintech startups need to know their ideal customer profile (ICP), tailor their products/services and fintech marketing campaigns to them, and retain them throughout the customer lifecycle.

  

  The good news for fintech marketers is that the market correction is leveling out in 2024. In The 2024 State of Fintech Report, F-Prime says that “heading into 2024, we see the fintech market amid a rebound,” while McKinsey expects fintech revenue to grow “almost three times faster than those in the traditional banking sector between 2023 and 2028.”

  Winning back investor confidence won’t be easy, though. F-Prime acknowledges that investors are prioritising high-performance fintech ventures, particularly those with high gross margins. Fintech marketers need to abandon the growth-at-all-costs mindset and switch to a data-driven optimisation, growth and revenue system.

  7 fintech marketing strategies

  Given the current state of the fintech industry and relatively low levels of investor confidence, fintech marketers’ priority is building a new culture of sustainable profit. This starts with rethinking priorities and switching up the marketing goals to reflect longer-term ambitions.

  So, here are the fintech marketing strategies that matter most in 2024.

  1. Optimise for profitability over growth at all costs

  To progress from the growth-at-all-cost mindset, fintech marketers need to optimise for different KPIs. Instead of flexing metrics like customer growth rate, fintech companies need to take a more balanced approach to measuring sustainable profitability.

  This means holding on to existing customers – and maximising their value – while they acquire new customers. It also means that, instead of trying to make everyone a target customer, you concentrate on targeting the most valuable prospects, even if it results in a smaller overall user base.

  Optimising for profitability starts with putting vanity metrics in their place and pinpointing the KPIs that represent valuable business growth :

  • Gross profit margin
  • Revenue growth rate
  • Cash flow
  • Monthly active user growth (qualify “active” as completing a transaction)
  • Customer acquisition cost
  • Customer retention rate
  • Customer lifetime value
  • Avg. revenue per user
  • Avg. transactions per month
  • Avg. transaction value

  With a more focused acquisition strategy, you can feed these insights into every company level. For example, you can prioritise customer engagement, revenue, retention, and customer service in product development and customer experience (CX).

  To ensure all marketing efforts are pulling towards these KPIs, you need an attribution system that accurately measures the contribution of each channel.

  Marketing attribution (aka multi-touch attribution) should be used to measure every touchpoint in the customer journey and accurately credit them for driving revenue. This helps you allocate the correct budget to the channels and campaigns, adding real value to the business (e.g., social media marketing vs content marketing).

  Example : Mastercard helps a digital bank acquire 10 million high-value customers

  For example, Mastercard helped a digital bank in Latin America achieve sustainable growth beyond customer acquisition. The fintech company wanted to increase revenue through targeted acquisition and profitable engagement metrics.

  Strategies included :

  • A more targeted acquisition strategy for high-value customers
  • Increasing avg. spend per customer
  • Reducing acquisition cost
  • Customer retention

  As a result, Mastercard’s advisors helped this fintech company acquire 10 million new customers in two years. More importantly, they increased customer spending by 28% while reducing acquisition costs by 13%, creating a more sustainable and profitable growth model.

  2. Use web and app analytics to remotivate users before they disengage

  Engagement is the key to customer retention and lifetime value. To prevent valuable customers from disengaging, you need to intervene when they show early signs of losing interest, but they’re still receptive to your incentivisation tactics (promotions, rewards, milestones, etc.).

  By integrating web and app analytics, you can identify churn patterns and pinpoint the sequences of actions that lead to disengaging. For example, you might determine that customers who only log in once a month, engage with one dashboard, or drop below a certain transaction rate are at high risk for churn.

  Using a tool like Matomo for web and app analytics, you can detect these early signs of disengagement. Once you identify your churn risks, you can create triggers to automatically fire re-engagement campaigns. You can also use CRM and session data to personalize campaigns to directly address the cause of disengagement, e.g., valuable content or incentives to increase transaction rates.

  Example : Dynamic Yield fintech re-engagement case study

  In this Dynamic Yield case study, one leading fintech company uses customer spending patterns to identify those most likely to disengage. The company set up automated campaigns with personalised in-app messaging, offering time-bound incentives to increase transaction rates.

  

  With fully automated re-engagement campaigns, this fintech company increased customer retention through valuable engagement and revenue-driving actions.

  3. Identify the path your most valuable customers take

  Why optimise web experiences for everyone when you can tailor the online journey for your most valuable customers ? Use customer segmentation to identify the shared interests and habits of your most valuable customers. You can learn a lot about customers based on where the pages they visit and the content they engage with before taking action.

  Use these insights to optimise funnels that motivate prospects displaying the same customer behaviours as your most valuable customers.

  Get 20-40% more data with Matomo

  One of the biggest issues with Google Analytics and many similar tools is that they produce inaccurate data due to data sampling. Once you collect a certain amount of data, Google reports estimates instead of giving you complete, accurate insights.

  This means you could be basing important business decisions on inaccurate data. Furthermore, when investors are nervous about the uncertainty surrounding fintech, the last thing they want is inaccurate data.

  Matomo is the reliable, accurate alternative to Google Analytics that uses no data sampling whatsoever. You get 100% access to your web analytics data, so you can base every decision on reliable insights. With Matomo, you can access between 20% and 40% more data compared to Google Analytics.

  

  With Matomo, you can confidently unlock the full picture of your marketing efforts and give potential investors insights they can trust.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

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  4. Reduce onboarding dropouts with marketing automation

  Onboarding dropouts kill your chance of getting any return on your customer acquisition cost. You also miss out on developing a long-term relationship with users who fail to complete the onboarding process – a hit on immediate ROI and, potentially, long-term profits.

  The onboarding process also defines the first impression for customers and sets a precedent for their ongoing experience.

  An engaging onboarding experience converts more potential customers into active users and sets them up for repeat engagement and valuable actions.

  Example : Maxio reduces onboarding time by 30% with GUIDEcx

  Onboarding optimisation specialists, GUIDEcx helped Maxio cut six weeks off their onboarding times – a 30% reduction.

  

  With a shorter onboarding schedule, more customers are committing to close the deal during kick-off calls. Meanwhile, by increasing automated tasks by 20%, the company has unlocked a 40% increase in capacity, allowing it to handle more customers at any given time and multiplying its capacity to generate revenue.

  5. Increase the value in TTFV with personalisation

  Time to first value (TTFV) is a key metric for onboarding optimisation, but some actions are more valuable than others. By personalising the experience for new users, you can increase the value of their first action, increasing motivation to continue using your fintech product/service.

  The onboarding process is an opportunity to learn more about new customers and deliver the most rewarding user experience for their particular needs.

  Example : Betterment helps users put their money to work right away

  Betterment has implemented a quick, personalised onboarding system instead of the typical email signup process. The app wants to help new customers put their money to work right away, optimising for the first transaction during onboarding itself.

  

  It personalises the experience by prompting new users to choose their goals, set up the right account for them, and select the best portfolio to achieve their goals. They can complete their first investment within a matter of minutes and professional financial advice is only ever a click away.

  Optimise account signups with Matomo

  If you want to create and optimise a signup process like Betterment, you need an analytics system with a complete conversion rate optimisation (CRO) toolkit. 

  

  Matomo includes all the CRO features you need to optimise user experience and increase signups. With heatmaps, session recordings, form analytics, and A/B testing, you can make data-driven decisions with confidence.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

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  6. Use gamification to drive product engagement

  Gamification can create a more engaging experience and increase motivation for customers to continue using a product. The key is to reward valuable actions, engagement time, goal completions, and the small objectives that build up to bigger achievements.

  Gamification is most effective when used to help individuals achieve goals they’ve set for themselves, rather than the goals of others (e.g., an employer). This helps explain why it’s so valuable to fintech experience and how to implement effective gamification into products and services.

  Example : Credit Karma gamifies personal finance

  Credit Karma helps users improve their credit and build their net worth, subtly gamifying the entire experience.

  

  Users can set their financial goals and link all of their accounts to keep track of their assets in one place. The app helps users “see your wealth grow” with assets, debts, and investments all contributing to their next wealth as one easy-to-track figure.

  

  7. Personalise loyalty programs for retention and CLV

  Loyalty programs tap into similar psychology as gamification to motivate and reward engagement. Typically, the key difference is that – rather than earning rewards for themselves – you directly reward customers for their long-term loyalty.

  That being said, you can implement elements of gamification and personalisation into loyalty programs, too. 

  Example : Bank of America’s Preferred Rewards

  Bank of America’s Preferred Rewards program implements a tiered rewards system that rewards customers for their combined spending, saving, and borrowing activity.

  

  The program incentivises all customer activity with the bank and amplifies the rewards for its most active customers. Customers can also set personal finance goals (e.g., saving for retirement) to see which rewards benefit them the most.

  Conclusion

  Fintech marketing needs to catch up with the new priorities of investors in 2024. The pre-pandemic buzz is over, and investors remain cautious as regulatory scrutiny intensifies, security breaches mount up, and the market limps back into recovery.

  To win investor and consumer trust, fintech companies need to drop the growth-at-all-costs mindset and switch to a marketing philosophy of long-term profitability. This is what investors want in an unstable market, and it’s certainly what customers want from a company that handles their money.

  Unlock the full picture of your marketing efforts with Matomo’s robust features and accurate reporting. Trusted by over 1 million websites, Matomo is chosen for its compliance, accuracy, and powerful features that drive actionable insights and improve decision-making.

   Start your free 21-day trial now. No credit card required.

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