Recently, 11:FS’s Chief Commercial Officer Eric Fulwiler published a presentation deck on LinkedIn that essentially revealed 11:FS’s high-level marketing strategy. In this post, we’re providing a quick summary of the key points included in 11:FS’s 2020 Marketing Playbook.
What does marketing mean for 11:FS?
According to 11:FS, marketing is simply the act of connecting products to consumers by changing perceptions and behaviours. And its ultimate purpose is to drive business growth through:
Growing the brand (Perception)
Generating leads (Behaviour)
What makes good marketing in 2020?
11:FS believes that there are 3 main things that make up a good marketing strategy nowadays:
It stands out – with all the noise in the modern digital world, getting noticed is the first challenge good marketing needs to overcome.
It’s relevant – people tend to care about things they can relate to. So, good marketing is relevant and shows deep empathy for the consumer.
It adds value – as consumers are gaining greater control over their product choices and consumption preferences, having a strong brand is no longer enough. Good marketing should build a strong brand and find ways to add value for the consumer. This may be done through providing information, utility, entertainment or having a social purpose.
What are the biggest marketing trends right now?
11:FS has recognised the following 3 key marketing trends:
Changing marketing landscape – new technologies are lowering the barriers to production and distribution and shifting consumer attention.
Consumer has it all – being relevant is no longer enough. Consumers expect the brand to bring value, not only a product.
B2B is becoming B2H – people engagement and communication is no longer enough in B2B.
The 11:FS 2020 Marketing Playbook
11:FS’s high-level marketing strategy is shaped around one core goal (called “north star”), namely "To add value". Whatever they do (be it content, campaign, idea, etc.), they always make sure it somehow adds value to their target audience and customers. For 11:FS, that value means “Insights”.
To achieve its core goal or "north star", 11:FS follows 5 key principles:
1) Build a media company around what you stand for – as part of its marketing strategy, 11:FS has focused on building a modern-day media company and created a series of leading productions including podcasts, blogs, films, etc. And the key to the success of its media efforts is that it has a dedicated media team that is NOT tasked with marketing objectives, but media ones (e.g. build and engage an audience). This further ensures that its media output is always focused on adding value.
A great example of 11:FS's media efforts is their documentary “11:Years – The Rise of UK Fintech”. Released in 2019, the short film tells the story of how the UK became one of the world’s leading fintech centres. The production features the founders of some of the most successful UK fintechs including Revolut, Monzo and Starling Bank along with a number of industry experts who helped shape the UK fintech environment. For the release of the film, the 11:FS team prepared a complete multi-channel launch campaign combining proven inbound strategies such as content, social, PR and event marketing.
2) Balance the art & science – While back in the days marketing was all about creativity and the one “big idea”, with all the data available now, 11:FS focuses on balancing the two: “art” (the ideas) and “science” (the data).
3) Win on both quality and quantity – as digital continues to grow, publishing good content is no longer enough. Brands need to publish a LOT of good content to break through the noise. While content quality is important for 11:FS, they also try to produce as much quantity as possible.
4) Deliver 1% increments & 10x ideas – 11:FS is constantly on the lookout for improving their marketing. They even hold a weekly “how do we get better” meeting. But, they’re also always open to big, bold ideas that have the potential to “10x” the impact of their marketing efforts.
5) Maximise your competitive arbitrage – The 11:FS team aims to make the most of any opportunity they find - e.g. in how their content performs, certain insights they get, or any new partnerships.
About 11:FS: 11:FS is a challenger consultancy based in London which provides transformational advisory services and solutions for fintech start ups and traditional banks. In less than 2 years, 11:FS has managed to secure a handful of project partnerships in London, New York and Singapore, and take instrumental role in the development of some of the world’s top fintech disruptors including Monzo, Starling, Nutmeg and Tandem.