Momentum Example: Seizing the Opportunity in Wall Street's Record-Keeping Crisis

fintech momentum examples momentum marketing saas Aug 11, 2023
Momentum Example: Seizing the Opportunity in Wall Street's Record-Keeping Crisis

The U.S. Securities and Exchange Commission (SEC) has recently imposed substantial penalties against notable Wall Street banks, including Wells Fargo, BNP Paribas, and Societe Generale. Collectively, these institutions face fines totaling $549 million. The reason? Failures to maintain electronic records of employee communications on platforms like Signal and WhatsApp.

For messaging solution vendors targeting the finance vertical, this situation presents a significant momentum marketing opportunity. Here's why:

High Congregation of Buyers: The recent regulatory action has garnered significant attention, with extensive coverage by major media outlets like CNN, The New York Times, Yahoo Finance, and CNBC. Coupled with remembering a similar incident from a year ago that sparked discussions for over a month, it's evident that this topic — where banks faced hefty fines due to their use of personal messaging channels that couldn't maintain electronic records of employee communications — is top of mind for many in the industry.


Strategic Importance: The involvement of such notable banks and the substantial penalties make it evident that this isn't a fleeting trend. For banks and financial institutions, this topic underscores the importance of navigating the challenges of modern communication while adhering to regulatory standards, all in the context of safeguarding their reputation and trust with stakeholders.

Given this backdrop, messaging solution vendors are presented with a unique opportunity. The SEC's actions have unveiled a significant gap in the industry's communication practices. By offering compliant and secure communication tools, you can directly address this pressing need, positioning your platform as the go-to solution for banks navigating this regulatory maze. Here’s how:


Three-Phase Momentum Marketing Strategy


Phase 1: Initiating the Dialogue (Weeks 1-3)


Engage in Thought Leadership: The recent penalties imposed by the U.S. Securities and Exchange Commission (SEC) highlight a systemic challenge in the financial industry. With your marketing efforts, dive deep into the challenges banks face, emphasizing their need to prioritize customer preferences.

Highlight the banks' intentions to be available on channels their customers prefer, such as WhatsApp. Banks have been trying to meet their customers where they are, even if it meant navigating the gray areas of communication channels. Advocate for these institutions, emphasizing their primary goal of customer satisfaction and accessibility.


Content Creation: Develop and distribute content discussing the limitations banks face due to regulatory constraints. Explore why banks might have leaned towards platforms like WhatsApp, emphasizing the balance between customer preference and regulatory compliance.

Discuss the shift from traditional methods like emails, emphasizing the need for modern, secure, and compliant messaging solutions.

Engage on Multiple Platforms: Participate in podcasts, webinars, and other platforms where your target audience congregates. Share your unique perspective on the SEC's actions, positioning your company as a thought leader and a go-to resource on the topic.

Collaborate with industry experts and regulatory professionals to discuss the implications of the SEC's actions and the future of messaging in the banking sector. This collaboration can further solidify your position as a knowledgeable and reliable voice in the industry.

Marketing Channels:

  • Owned Media: Regularly update your company blog with articles and insights on the evolving landscape of bank communications and the implications of the SEC's actions.
  • Earned Media: Collaborate with industry publications to contribute guest posts, offering fresh perspectives on challenges and solutions for banks. Partner with podcasters and major publications to host webinars on their platforms, leveraging their audience reach to amplify your message.
  • Paid Media: Launch targeted ad campaigns to reach a broader audience, emphasizing the importance of compliant communication tools.
  • Social Media Engagement: Engage on platforms, especially LinkedIn, sharing insights and joining relevant discussions. Participate in finance-focused forums and online communities where industry professionals gather, such as Wall Street Oasis, Finextra, and BankersOnline, to share insights and engage in meaningful conversations.


Phase 2: Positioning Your Messaging Solution (Weeks 4 & 5)


Following the SEC's actions, banks are on the lookout for solutions that cater to customer preferences while ensuring compliance. As you transition from the initial dialogue to positioning your solution, it's time to make a thunderous impact. This phase should be a coordinated, high-impact campaign that resonates in the market.

Customer Testimonials: Present a customer's experience with your platform. Their testimonial, detailing their use of channels like WhatsApp and how your platform ensured regulatory adherence, endorses your solution and resonates with other institutions.

Case Studies: Amplify your message with comprehensive case studies showcasing how your platform logs all conversations on popular messaging apps, ensuring banks remain compliant.


Engage on Recognized Platforms: 


  • Podcasts & Webinars: Partner with industry-leading publications and platforms to co-host webinars or feature in their podcasts. Platforms like Financial Times, Bloomberg, or Reuters can provide a vast audience of finance professionals.
  • Conferences: Secure speaking slots or presentations at major industry conferences such as Sibos, Money20/20, or Finovate. These events attract a large congregation of decision-makers in the finance sector.
  • Collaborations: Work with industry associations like the Global Banking & Finance Review or the Financial Brand to host joint events or webinars, tapping into their established audience base. 


Lead Capture: Offer invaluable content like whitepapers, playbooks and case studies in exchange for contact details, building a database of leads genuinely intrigued by your solution.

SDR Outreach: With the momentum at its peak, it's time to channel the energy. Enhance your sales efforts, especially through SDR outreach, targeting those electrified by your content. Craft personalized email marketing campaigns that not only sustain the impact but also drive these potential clients further down the funnel, ensuring that the thunderous impact of your strike leaves a lasting impression.


Phase 3: Building Trust & Nurturing Leads (Week 6 and beyond)


Having successfully navigated the initial phases, you've now established a rapport with potential buyers in the financial sector. Your discussions around the SEC's actions have positioned your company as a thought leader, making you top of mind for these buyers. This recognition is not just about your company's offerings but also its values, expertise, and stance in the context of the SEC discussions. With this foundation of trust, there's an openness among these leads to learn more, to delve deeper into what your platform offers.


Educational Content: At this stage, education is paramount. Develop a comprehensive series of educational content that caters to this newfound curiosity. 

Videos can provide visual demonstrations of your platform's features, showcasing real-world applications and benefits. Webinars offer an interactive platform for deeper dives, allowing for Q&A sessions, expert discussions, and detailed walkthroughs. 

Complement these with articles that provide insights into the regulatory landscape, the challenges banks face, and how your platform stands out as a solution, both within the SEC context and beyond.


Engaging Warm Leads: The leads that have shown interest are now more receptive to personalized engagements. Offer them tailored demos that address their specific challenges and needs. 

Organize in-depth discussions, perhaps even one-on-one consultations, to showcase how your platform can seamlessly integrate into their existing infrastructure, ensuring compliance and enhancing communication.


Channels: With the groundwork laid, it's time to intensify your marketing efforts. On the inbound front, utilize social media advertising to reach a broader audience, especially those who might have engaged with your content in the earlier phases. Retargeting campaigns can remind these leads of the benefits your platform offers, drawing them back into the fold. 

On the outbound side, continue with the SDR outreach, but now with a more tailored approach. Craft email marketing campaigns that not only share educational content but also invite leads to personalized sessions, webinars, or demos. The goal is to nurture these leads, guiding them from interest to consideration and ultimately, to decision.

This three-phase momentum marketing strategy provides a comprehensive roadmap for companies to navigate this unique situation effectively. From initiating the dialogue and establishing thought leadership to making a thunderous impact with their solutions and nurturing leads, every step is crucial.

Keep in mind, momentum marketing isn't just about capitalizing on a trend; it's about understanding the nuances of the situation, offering solutions, and building trust with your buyers. Ultimately, it's the companies that can effectively harness this momentum, deliver true value, and foster strong relationships will stand out and thrive in the long run.

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