Tuesday Oct 15, 2024
Scaling Growth in the Complex World of Fintech | Simon Vishnevskiy (Credit Genie, Dave, Lyft)
In this episode of Growth Talks, Simon Vishnevskiy, Chief Growth Officer at Credit Genie, sits down with Krystina Rubino to share his experiences and strategies in growth marketing for fintech. With a background that spans gaming, ridesharing, and finance, Simon dives into the unique challenges of marketing within a highly regulated and competitive space.
He discusses the parallels between marketing and gaming, the importance of cross-functional collaboration between product, compliance, and marketing, and the best way to effectively reach underserved audiences. Simon also explores how to build a strong acquisition strategy from scratch and scale it efficiently over time.
🗝️Key Takeaways:
- Unlike other industries where a playbook may work long-term, fintech demands continuous reevaluation and dynamic strategies due to changing regulations and customer behaviors.
- In a highly regulated industry, collaborating closely with your compliance team ensures you can get creative with messaging while avoiding legal issues. Paying attention to product changes may explain swings in KPIs.
- Starting with digital channels like TikTok, Meta, and Google is key but, as fintech brands mature, investing in offline channels like podcasts, TV, and radio is crucial for establishing brand equity and trust.
- To build an effective growth engine, Simon always evaluates 4 key things: tracking and attribution, data analytics, creative output, and lifecycle marketing as key pillars of an effective growth engine.
- “Day trading,” or short-term optimizations in channel spend, can help maintain an efficient acquisition strategy, while building foundational team roles in MarTech, data analytics, creative, and lifecycle marketing ensure sustainable growth.
- Leverage platforms like TikTok and DSPs to create ads and videos specifically optimized for their formats, boosting performance without hefty creative costs.
⏰ Timestamps
00:00:00 Introduction to Simon Vishnevskiy
00:04:10 Unique challenges in fintech
00:06:56 Creating a collaborative playbook with product and legal teams
00:13:02 Targeting underserved audiences in fintech
00:16:42 How marketing strategies and channels evolve as fintech brands mature
00:24:00 A/B Test Segment
00:32:54 Managing CAC while scaling acquisition efforts
00:38:12 Key roles to prioritize when building a user acquisition team
00:41:21 Simon's favorite "growth non-hack"
🔗 Mentioned in this episode:
Credit Genie: www.creditgenie.com
Dave: www.dave.com
Chime: www.chime.com
MoneyLion: www.moneylion.com
Coinbase: www.coinbase.com
Robinhood: www.robinhood.com
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