2023 Women CMOs in Fintech Report: Marketing Investments to Remain Strong, CMOs Orchestrating Success, and Generative AI Boosting Efficiency
The Fletcher Group, a women-owned and led PR and content marketing firm, today announced its second annual Women Chief Marketing Officers (CMOs) in Fintech report. This comprehensive report explores key trends and insights within the financial technology sector and highlights the strategies pushing forward some of the world's preeminent fintech brands.
Key findings from this year's Women CMOs in Fintech report include:
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Marketing investments remain strong: Despite the challenges of reduced venture capital and rising costs, marketing spend is not waning for most fintech brands. In fact, 87% of CMOs in the report intend to increase or maintain their marketing budget in 2024.
Increased budget is especially vital for fintech companies in the growth stage, particularly those aiming to secure funding in the near future. Other reasons fintech companies will continue to invest more in marketing include needing to enhance visibility before major announcements, continuing to build back post-Covid and a desire for best-in-class content and event strategies. Many CMOs report they are outsourcing work to achieve their strategic goals efficiently.
- CMOs: from building respect to orchestrating the show: The report underscores a significant shift in the role of fintech CMOs. Marketing has broken free from its silo and now occupies a prominent seat at the C-Suite table. CMOs have fostered deeper engagement from other key strategic leaders throughout their organizations, aligning closely with product and sales teams. Data-driven insights have enabled CMOs to solidify their status as operational orchestrators, harmonizing all aspects of the business into a synchronized revenue-generating machine.
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Generative AI enhances efficiency: The majority of CMOs (55%) report that generative AI tools like ChatGPT have improved their marketing department's efficiency. Even among those who haven't yet adopted the technology, excitement about its potential abounds. The report identifies two primary use cases for generative AI: content ideation, particularly brainstorming topic ideas for eBooks, webinars and presentations, and using AI from a product perspective to gather insights on buyer intent and the buyer journey.
When it comes to content creation, CMOs agree that generative AI won't replace creative professionals and other experts, but rather accelerate and improve their brainstorming process and free up their time for other more strategic and creative tasks ? especially for small teams with limited bandwidth.
The report also delves into findings on the importance of brand in fintech, the shift from acquisition to full life cycle marketing, recruiting strategies and more.
"The CMOs we surveyed are the minds behind many of fintech's leading brands ? their insights provide a helpful roadmap for how the industry can continue to grow and thrive into the future," said Jennifer Tramontana, president of The Fletcher Group. "As an agency, we are committed to fostering and amplifying women's voices in a space where female leadership is still underrepresented. This report provides valuable insights into the fintech sector and champions the achievements and perspectives of women leaders."
Tramontana will participate in a panel discussing the report's findings on Wednesday, October 25, at Money20/20. She will be joined by CMOs Elise Brown of Anthemis Group, Sheri Chin from Galileo Financial Technologies, and Autumn Flora of Transact Campus.
To access the full report and stay informed about the latest trends in fintech marketing, please download the Women Chief Marketing Officers (CMOs) in Fintech Report here.
About The Fletcher Group
At The Fletcher Group, we're just as passionate about everyone knowing your name as you are. Unlike most PR and Content firms claiming knowledge of the payment and fintech space, we have 18 years of experience driving measurable results using a mix of positioning, story-telling content, promotional PR and marketing. Our network and expertise extend to every corner of the industry and enables the TFG team to get you the coverage and partnership opportunities you deserve. As a woman-owned and operated organization, we are also committed to bringing diversity to the forefront. We are a proud supporter and past speaker of Money 20/20 Rise Up and have also committed to the Money 20/20 pledge to advance diverse voices in fintech.
To learn more about fintech marketing and PR and how we help marketing leaders bring their vision to life, visit fletchergroupllc.com.
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