PensionBee: Think outside the box

Updated: Apr 14

#HowTheyDidIt


Have you ever wondered what makes a successful fintech marketing strategy? In our "How they did it" series, we look at how some of the most successful and exciting fintechs in the world have approached marketing in their early days. Today's story is about one of the top 3 digital wealth managers in the UK based on Assets Under Management (AUM), PensionBee.


Probably the biggest problem start-ups usually face is the limit or lack of any spare budget for marketing and promotional activities. Especially, in those early days when they have just launched their product and are entering the market. Although there is no such thing as free or zero-budget marketing and advertising, there are certainly some very cost-effective tactics and tools that start-up marketers can adopt to get traction.


But before looking at any particular tools and strategies, businesses need to have a clear understanding of where their potential customers are and identify the exact channels that would lead those customers to their product or service. That’s exactly what Jasper Martens, PensionBee’s first marketing executive and current CMO, focused on when he joined the company. By analysing consumer buying behaviour first, Jasper managed to notice early on that nobody was actually interested and actively looking for their products. You can only imagine how many people are searching for pension consolidation solutions on Google…


So, he then had to quickly find alternative channels that could lead customers to their solution. That’s when Jasper realised that Instagram and Facebook were the main places where they could find their targeted consumer demographic, and that 30-second videos were key touchpoints in the consumer conversion path. He, therefore, focused most of their marketing efforts on creating genuine, high-value organic content and promoting it via paid media ads on Instagram and Facebook, which eventually delivered about 65% of the company’s total customer conversions.

PensionBee identified Instagram as a key channel for their targeted customer audience.

As part of his content strategy, Jasper also hired a freelance copywriter to create content around the company’s two focal points, namely to gain awareness and provoke consideration. The first objective of the strategy was to educate and inform people about their pensions and any other financial issues related to their lifestyles – to create brand awareness. Whereas, the second goal was to create a sense of action and urgency and encourage clients to take control of their pension plans – to provoke purchase consideration.