Fintech, short for financial technology, is a technological innovation that empowers financial institutions to offer banking services at scale via an app, website, or both. In other words, digital banking at your fingertips.
It should come as no surprise that more and more customers prefer to use fintech because it is convenient and save you the hassle and time of availing loans from a traditional financial institution. A point to note here is, inevitably, these customers begin their journey online. They also rely heavily on online reviews, ratings, and online customer feedback before engaging with your business.
They just “look you up” and you should “look good”
We will discuss the importance, strategies, and best practices of ORM for fintech in this blog.
Understanding ORM & Its Impact on Fintech
Online reputation has a significant impact on businesses; more so on Fintech. One bad review or social media controversy could destroy the reputation that you painstakingly built over the years. This could result in decreased credibility, trust, and lost customers.
A good online reputation, on the other hand, can lead to increased brand recognition, customer loyalty, more sales, and more revenues.
Standing Tall with Online Reputation Management: Fintech’s Path to Trust
Online Reputation Management Can Help You:
Build Trust and Credibility:
Proactively managing your online presence ensures positive reviews, narratives, positive media coverage, and testimonials appear in search results for your brand keywords.
This not only boosts your credibility but also instils confidence in potential customers, assuring them that they are dealing with a trustworthy, reliable, and regulated financial institution.
Pre-Empt and Mitigate Reputational Threats:
Fintech businesses are vulnerable to reputational crisis situations. Allegations of data breaches, privacy violation, fraud, misbehaviour by collection agents, spreading of rumours and misinformation by competitors, vested interests, or disgruntled individuals could occur any time. ORM acts as a shield, enabling companies to monitor their online presence and detect potential threats early on.
An efficient ORM process can not only address these issues but help you formulate and execute a online and offline PR strategy to safeguard your brand image.
A good ORM strategy could easily mitigate the impact of damaging rumours or misinformation.
Effectively Leverage Social Media:
A social media DOs & DONTs guideline from the ORM team can help you avoid the pitfalls of miscommunication or misconceived social media campaigns. ORM can help you build a strong online presence on platforms like Twitter, Facebook, LinkedIn, Instagram, Pinterest, etc. and leverage the power of social media to reach and connect with a wider audience.
Effectively Manage Negative Feedback:
No business is immune to negative feedback, but how it is addressed can make all the difference. ORM equips fintech companies with the tools and wherewithal to monitor, track, and promptly respond to unfavourable comments or reviews. By addressing customer complaints and resolving issues proactively, you demonstrate your commitment to customer satisfaction, potentially transforming a negative customer experience into a positive one.
Build Brand Awareness:
ORM strategies play a vital role in significantly raising brand awareness for fintech companies. Through active management of your online presence, you can engage with your target audience, answer questions, and widely share information about your products and services. This consistent and satisfying engagement fosters brand loyalty, attracts new clients, and positions your business as a trustworthy and respected player in the fintech industry.
Drive Business Growth:
ORM goes beyond just maintaining a positive reputation; it could be a catalyst that drives your business growth. Positive online reviews and ratings act as powerful testimonials; attracting new customers. A good online presence could also attract investors interested in a business like yours.
Implementing ORM for Fintech
While the need for an effective ORM for fintech is obvious, planning and implementation of a good ORM strategy requires a dedicated team of social media experts, SEO professionals, media, and PR specialists. This is best done by an agency that has core expertise in ORM.
We Can Help
Your business is best served with you focussing on building a successful, reputed, and trusted Fintech company. We at AiPlex render online reputation management services to some of the biggest EdTech, Crypto, Fintech, Used-Car Marketplace, and M & E companies in India, and can effectively manage you online reputation.