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You are competing for customers
who are well serviced
2
Customer Acquisition
In the developed world… In the developing world…
2.5 Billion people have never had a
financial service (60% are in Asia)
3
Customer Acquisition
Customer acquisition strategy is about…
• Value proposition
• User Experience (UX) Design
• Customer Service
• Marketing Strategy
You can have the best Fintech product, but
without customers it doesn’t matter
4
Customer Acquisition: Value Proposition
Without a strong & unique value proposition
you are competing on…
• Being faster to provide your
service than an incumbent
financial institution
• Being less expensive than an
incumbent financial institution
You are trying to entice customers from their
trusted institution, to a new service. This requires
a strong and clear value add.
5
Customer Acquisition: User Experience (UX)
User experience is key
• Better not to get traditional
financial services people involved
in UX design
• Keep it simple - frictionless. In
UX design, less is more
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Customer Acquisition: Customer Service
A financial services business is a customer service business
Make it..
• Easy for clients to contact you
• Fast, solve cases same day
when possible
• Easy to close accounts
This is the best way to stand out
from existing financial institutions.
If you can convince your
customers that you are ready and
willing to look after them, they are
more likely to stick around and
recommend you.
7
Customer Acquisition: Marketing/PR Strategy
B2B
How do we keep our customer
acquisition cost (CAC) low?
• Marketing can be automated
• Social media can be more
attractive than Google marketing
• Financial Services are very
fragmented
• PR is important
Do we align with an incumbent
financial services company?
B2C
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Case study: Wealth Know How
Wealth Know How offers videos created by
financial service experts, providing access to high
quality information and knowledge.
We found
• CAC was too high for B2C
• Value proposition wasn’t as
appealing as we hoped
The Acorns Value Proposition – simplifies the problem
Make It a
small Decision
Mobile-First
Investment Platform
Simple Fees
Micro-Investing
Modern Portfolio Theory
Intuitive Tools
5 Risk-Adjusted
Portfolios
Marketing Strategies
Digital Advertising
Algorithm optimised ad
delivery, trackable in real time.
Emails
Targeted email campaigns
based on user data, with
goal-based tracking.
Seminars
Network of financial
advisers and
superannuation funds.