The new report from public relations and marketing consultants The Fletcher Group (TFG) highlights some of the contributions women have made in fintech marketing and addresses key trends likely to impact the coming months and years. According to the 2022 Women CMOs in Fintech Report, the number of women taking on leading marketing roles in fintech companies is growing even as the number of female CEOs and the amount of capital female-led companies continues to stagnate.
“As an agency that builds lasting brand awareness in payments and fintech, we work with a lot of CMOs who are a driving force within the innovative fintechs they serve,” said TFG founder and president Jennifer Tramontana, in a statement. “These companies are rapidly expanding financial services by filling unmet needs in the market and creating brands that deeply resonate with their customers. With an industry as unique as fintech, we wanted to explore the unique contributions and insights they are using to lead the way.”
A July working paper from the International Monetary Fund, Women in Fintech: As Leaders and Users, identified a sizable gender gap in fintech leadership. That study found women represent less than 10% of the total number of founders and executive board members of fintech firms.
“While the share of women leaders has been steadily improving over time—mostly as improved representation in newer firms—large gender gaps continue to persist,” it reads. “In fact, the share of women in leadership position is even lower than those in the traditional banking industry and technology companies.”
Research included in the Fletcher study considered what new marketing strategies have proven effective, what technologies and investments in marketing tools have proven valuable and how marketing agencies have successfully attracted new talent. The study also parses the expectations of marketing bosses with respect to anticipated areas of success as well as areas where marketing tactics might come up short.
The report overwhelmingly indicates marketing spending is expected to ramp up in 2023 as that spending is widely considered to be a critical component to staying competitive.
From Twitter
"The list includes 16 #femalefounders in #software, 5 in #financialservices and 3 in #biotech. Get to know who made @Inc’s Top Female Founders of 2022: https://inc.com/female-founders/2022… #womenintech #womeninfintech #womeninstem #tech #fintech #biotech"
Fletcher data also indicates many CMOs are expecting to bolster investments in owned content. Long-form content, as opposed to blogs, social, video and newsletters, was also identified as particularly effective by those surveyed. “Martech” tools, too, were highlighted as helpful.
“Developments in martech have been invaluable for executing more precise and efficient campaigns that meet acquisition and conversion goals while delivering the data needed to show success,” reads information from Fletcher.
Effective technology, they point out, though, does not replace the need for human resources, but instead highlights the importance of a more diverse human resource pool.
“Companies that are not willing to invest in the right headcount are unlikely to reap the full benefits of these important tools,” it adds.
