Revolut, the new-age fintech solution, is undoubtedly rewriting the marketing playbook for finance institutions and serves everyone from age 7 to 70 (literally!) Its success is rooted in transforming how people handle their money day by day. But what’s the key behind this remarkable hit?
Actually, the corporate’s rise will not be merely a stroke of luck; the reply lies in Revolut’s groundbreaking digital marketing strategies and campaigns. With a presence in 37 countries, including every nation throughout the EU and EEA, the brand has adapted its strategies to resonate with diverse consumers.
What’s more, as of 2023, Revolut amassed +20 million users worldwide, with 1.4 million actively engaging with the app day by day.
Now, let’s discover the fintech strategy behind these impressive numbers
Revolut’s Marketing Innovation: Groundbreaker within the Digital Banking Industry
As we’re all aware, Revolut is a serious player within the digital banking scene, shaking up traditional banking norms and reworking the financial scene to be a top-notch global financial app.
Since debuting in 2015 as a travel card, the neobank has allowed its users to administer their money by eliminating hidden banking fees and currency exchange rates. In recent years, Nikolay Storonsky, the co-founder and CEO of Revolut, has characterised the brand using similar language:
For a few years, people have felt frozen out of trading by high fees and clunky interfaces, so Revolut goals to make investments low-cost, easy, and completely mobile.
The new-age financial solution actually has moved farther from a travel card through the use of the benefits of digital marketing; via its user-friendly app, customers can generate income transfers in greater than 25 currencies, use budgeting tools, and split bills a breeze.
From the view of the innovation, Revolut offers multi-currency accounts, fee-free international ATM withdrawals, and commission-free stock trading. Its user-friendly interface & design make it easy for users to administer their funds, send – and receive money, and access a big selection of monetary services.
In the name of digital banking, Revolut is accepted because the brand that’s on the forefront of monetary tech; it’s not surprising that when considering the fintech company utilizes cutting-edge solutions to optimize security, streamline transactions, and deliver personalized insights helping users correctly save their money.
However, there are additional the reason why Revolut stands out as a fintech groundbreaker. Let’s explore them together.
Launching Major Brand Campaigns
A brand’s remarkable success is difficult to ascertain without the implementation of world campaigns, especially when partnering with finance marketing agencies. So, Revolut has released a series of successful global campaigns since 2015; these campaigns not only raised brand awareness but additionally proved instrumental in attracting recent prospects and driving growth in key markets.
The campaign “Your Way In” is widely known as a successful initiative that aimed to challenge financial stereotypes and empower individuals from all backgrounds. Revolut’s signature campaign wanted to interrupt down the concept that finance is all fancy and confusing. On the contrary, the fintech company is here for everybody providing you with the facility to make use of cool financial stuff.
What’s more, the corporate launched this campaign in over 30 countries, making it their biggest-ever brand campaign.
The most rewarding opportunities in money haven’t been available to most of us. They’ve been too expensive, too complicated, or too difficult for us to access. Revolut changes all of that. Revolut is one easy app that unlocks a world of cash that almost all people never thought was possible and offers people the boldness to take advantage of it.
Source:https://www.revolut.com/blog/post/2022-uk-brand-campaign-5-million-customers-in-the-uk/
Growth Plans and Customer Acquisition
The top-tier fintech company is on a strategic journey to spice up its brand recognition & ramp up customer acquisition to develop into the world’s foremost digital banking platform. This shift involves broadening its product – features resembling cryptocurrency trading and stock investing -, and expanding its global footprint by entering recent markets, diversifying its customer base, and tapping into growth opportunities.
To put it simply, the organization’s deal with customer needs and revolutionary solutions, together with its regular growth, sets it up for fulfillment in meeting its impressive growth goals amidst the changing financial environment.
Regarding customers’ needs for top-of-the-line experiences, Tara Massoudi, Revolut General Manager of Premium Products, says:
This growing consumer market is redefining luxury, making it more functional and present in day-to-day life. They wish to construct a gentle passive income but additionally enjoy life, sustain thus far with the most recent trends, and travel the world. This unique card and membership plan was ultimately designed for individuals who benefit from the finer things in life.
It seems that the brand can analyze the needs and meet them with a well-considered plan that is predicted to have a positive impact on the corporate’s growth.
Speaking of customer acquisition, Revolut is specializing in a younger customer base, and attaching them through social media channels, especially TikTok & Instagram. As a fantastic practice for social media for fintech firms, take the next video; it hit greater than 13M views:
The brand also highlights that its products resonate with the needs of teenagers, students, and other people under 18:
While doing so, the brand doesn’t hesitate to share popular content and reap the benefits of meme marketing:
In addition to modern TikTok videos, the finance giant remembers to team up with well-known figures online. As an element of their marketing strategy, Revolut releases multiple videos featuring influencers. In recent months, the brand has promoted recent metal cards with Grace Beverley.
The fintech brand also extends its collaboration with Beverly with a suggestion:
Gamification for Customer Engagement
Gamification, a robust attraction mechanism, is a component of Revolut’s digital marketing strategy, leveraging insights from collaborations with tech marketing firms. Via features just like the Progress Bar, University Leaderboard, and raffles, the favored fintech company entices recent customers – especially younger age groups – to check out its app. While encouraging users to remain engaged and proceed using the app, Revolut also gains useful data on user behavior, preferences, and financial goals. Win-Win.
Actually, on the very heart of Revolut’s gamification strategy lies its points redemption system – called RevPoints. These points, which will be earned by being profitable transactions, inviting friends to the app, and participating in challenges, serve because the currency for the gamified features.
Revolut’s gamification strategy extends beyond RevPoints and raffles & online contests; to strengthen the gamification effect, the brand features a points leaderboard, allowing users to observe their progress in real-time and compare their performance to others.
Even though we will’t simply describe it as an act of gamification, Revolut offers its customer base highly entertaining customizing options for his or her cards as an element of its loyalty program.
Another example:
Revolut’s website positioning Strategy: Qualified Content, Lead and Visibility
As everyone knows, to expand, every fintech company needs a comprehensive website positioning strategy that covers all elements of SEO. Revolut, a fintech firm with a deep understanding of its audience, does this exceptionally well.
In easy terms, this UK-based neobank invests in in-depth keyword evaluation, identifies its audience (including demographic information), and creates high-quality content as a part of its website positioning strategy. By gaining useful insights into the language and phrases that potential customers use to go looking for information related to financial services and products, Revolut can create effective marketing campaigns.
In addition to optimizing its current & official website often, Revolut uses multiple numbers of landing pages promoting its services plus products for A/B testing at one time. – Actually, it’s one of the functional promoting strategies for fintech firms.
We also know that the new-age banks bid heavily on their very own branded terms – mostly those with low competitiveness but high search volume like “How can I open a checking account free,” “Should I get a bank card?” or “How do I get a bank card online.”
Revolut’s Brand Bidding Approach – No More Traditional Marketing
Revolut will not be only becoming more assertive in its growth strategy but can be intensifying its efforts in brand bidding; the firm extends its website positioning strategy beyond traditional optimization techniques and creates an approach involving bidding on keywords related to its competitors.
As may , new-age banking solutions like Wise, N26, Starling Bank, and Monzo are accepted as the highest rivals of Revolut. To intercept customers trying to find details about its rivals, Revolut diverts traffic to its website via brand bidding, particularly for keywords like “Monzo,” “Wise account,” and “best N26 alternative.”
This aggressive approach displays Revolut’s determination to outdo its digital competitors and attract potential customers searching for alternative financial services.
(P.S. Before jumping into the subsequent chapter, we recommend you take a look at Revolut’s top rival’s, Wise marketing strategy.)
Revolut’s Referral Partnerships and Automated Marketing Approach
Similar to other fintech startups, Revolut is teaming up with other well-known firms, organizations, and communities to get more people on board while constructing a solid brand image.
Similar to other fintech startups, Revolut is teaming up with other well-known firms, organizations, and communities to get more people on board while constructing a solid brand image.
Take Impact X Revolut collaboration: The fintech disruptor, partnered with Impact to reshape its approach to referral partnerships and online marketing. Leveraging automation, they transformed prospects into brand advocates and partners.
The program scaled from under 100 to over 6,000 partners, achieving a 700% development in customer acquisition from April to December 2019. That collaboration which is one among the most important within the UK, combined tech and inventive strategies while showcasing the facility of creativeness and automation within the finance industry.
In addition to that form of large-scale global collaboration, which allows to show clients into “salesmen,” the fintech company also partners with popular brands & platforms:
Conclusion
As we mentioned throughout the blog, Revolut is killing it within the digital marketing game, changing how fintech firms connect with their audience & boost their growth. They’re not only riding the wave; they’re creating it. Taking advantage of smart and data-driven strategies, the brand is making waves on social media, teaming up with influencers, constructing referral partnerships, and automating its marketing. This isn’t nearly getting attention; it’s about constructing real connections with customers, making them stick around, and helping Revolut soar within the crazy competitive world of fintech.
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