How To Promote Finance Apps

When it comes to finances, some of us suddenly get a headache since it is such a stressful process to remember when to pay the bills, to calculate the interests or to understand where our money goes. At least this happens to the ones who don’t benefit from advanced mobile technology and they don’t use apps specially created to keep the budget in order. On the other hand, there are so many apps in this category which make various promises and users don’t know what to choose. How to succeed in this huge market if you want to develop this kind of app and how to make customers realize that your creation is what they need for their tedious tasks? Read further because we will unlock this mystery.

Business Model

It is time to observe the trends and to understand what to do when you need to monetize your financial app. Watching the charts published these days by AppAnnie for Finance category, we notice that there are similar strategies for both iOS (in the first picture) and Android (second one) devices. The apps provided by financial companies like banks or other payment systems who offer well know products are free. Going further to paid apps we observe something new. A few powerful apps which ask users to pay before using them have integrated also in – app purchases. This is not a common behavior for app owners but it seems that is working for them. As for top grossing apps, we see the usual free with in – app purchases pattern and once in a while, a calculator with a high price appears in the list. Now, you should decide your scheme according to the features provided by your app.

Image Source: https://www.appannie.com/en/apps/ios/top/united-states/finance/iphone/

 

Image Source: https://www.appannie.com/en/apps/google-play/top/united-states/application/finance/

 

How To Promote Finance Apps

If you don’t represent a well – established company you need to pay attention to some of the most popular methods for acquiring users.

Invest In Pre – Launch Techniques

Finance is a very delicate topic, so you need to consider building a strong strategy before releasing your app to the market. There are a lot of aspects you have to take care of from the moment you decide to start this journey. From the beginning, you need to study your competitors and to make decisions based on your target audience. Start with a beta version for making sure that you have a flawless app in the moment you will release it for the big public. Make sure to build your social presence by creating accounts on the most important social networks, an interesting landing page where you gather a list with email addresses and don’t forget about a blog where you can share financial information with potential users. In the same time keep in mind to optimize your app store page because it is crucial to intrigue customers with a high-quality presentation of your valuable app. A good example in this area is Douugh, which offers early access to its features especially to Sophie, its AI assistant.

Image Source: https://www.douugh.com/

 

Let’s Split The Cost

“Don’t put all your eggs in one basket” is an old saying very popular in the financial world. And it should be applied also in the marketing ecosystem. You must break the audience into small groups and select personalized methods for each segment. Some of your users are shopaholics, others probably want to save more or maybe you want to target Millennials with a special approach which will impress them. This will make your customers spread the word about your app. Keep in mind that your app must do one thing and to do it in the best way, even though your users come from different domains. We discussed before how Venmo, owned by PayPal, engages users and convinces them to open the app, again and again, transforming financial transaction into a social and fun activity.

Image Source: https://itunes.apple.com/us/app/venmo/id351727428?mt=8

 

Keep Your Eye On The Budget

Budget is the keyword for you and your users. On one hand, you must take care of users’ money and announce them every time they risk to spend too much or to congratulate them when they added a certain amount into their savings. This means that somebody is there, maintaining the right balance between their income and their investments. On the other hand, you must keep your eye on your company’s budget because you can’t choose the most expensive methods for promoting your app with the idea that those are the best even if you don’t keep track of your actions. Measuring all your efforts will allow you to optimize your ROI and to accomplish a stable mobile growth. Allow us to inspire you with the success story of Mint, one of the most appreciated apps in the Finance category.

Image Source: https://itunes.apple.com/us/app/mint-personal-finance-money/id300238550?mt=8

 

How About Security?

When we talk about money and personal information, there is one thing that worries users the most and that is security. Be careful with this stage because there are many persons with malefic intentions who can’t wait to benefit if you make a little mistake during the development process. Providing the safest environment for their transactions is the most priceless feature of your app. You must take that into account when you begin your work. Making sure that you remove this fear from users’ minds will bring your creation above your competitors’. Going further with this idea, don’t expect people to know that your app is secure. Repeat that over and over again until you win their trust. Focusing on this idea, PayPal promises to be “the simpler, safer way to pay and get paid”.

Image Source: https://itunes.apple.com/us/app/paypal-send-receive-money/id283646709?mt=8

 

Final Thoughts

It is tough to manage your personal budget and it is very hard to build an app that helps people to take care of their money. But it is even harder to promote this type of app. Start by creating a plan and search for those users who really need your services. When you find them prove them how efficient and safe is your app but keep an eye on your costs! Well, that’s about it. An amazing app and a smart marketing strategy will allow you to help your users with their financial struggles.

2 Comments
  • Yannis Karagiannidis
    Posted at 13:54h, 17 October Reply

    The most important factor is to offer value to the end users by solving a real problem – the marketplaces are full of useless finance apps unfortunatley

    • Cagla
      Posted at 19:34h, 18 October Reply

      Thank you for your answer, Yannis. You’ve touched a great point!

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