In the last few weeks, Switzerland took a big step in the battle for fintech dominance. A new license, changes to crowdfunding rules and the opportunity to test new innovations will make a huge difference to fintech entrepreneurs in Switzerland, freeing them up to do what they do best: invent, disrupt and effect long-term change. However the implications of these developments move well beyond the borders of the alpine safe haven; they are global.
First, it may make other fintech hubs think about how they attract and retain top fintech talent. London, Berlin and others could make moves to lower barriers to entry to stay competitive. This is great for entrepreneurs.
Second, the news will make investing in Swiss fintech businesses a much more attractive proposition. Any Swiss fintech business looking to raise early stage, series A or other capital can use the changes to increase their appeal to both domestic and international investors. Competition for investment remains fierce, but those that can most effectively target and communicate with investors – showing why their proposition is head and shoulders above the one in the incubator next door – will succeed. Crisp, creative communications will be key to ensuring businesses boost their chances of attracting some of the $5.4 billion investment in global fintech companies for the first quarter of 2016, according to a recent Accenture study.
And third, although innovation in the Swiss fintech sector has been boosted, the domestic market alone rarely affords the customer numbers to allow a business to reach its potential and really put it on the map. So Swiss businesses must advance in their mission to take their ideas global. Again, effective communications can make all the difference.
So what type of communications will allow Swiss fintechs to take advantage? For Aspectus, it’s as follows:
- A thought-through brand strategy based on a thorough understanding of your business goals, what you stand for, why you’re different and who you need to engage
- Content that is sharp, provocative and creative. It might be written, visual or animated: whatever will get the attention of your audience and hold it
- Media in the broadest sense of the word: pinpointing the best channel through which to connect with your target audience, whether that’s traditional media, direct marketing, social media, an event or something else
- Search: building your online profile to ensure you are easy to find and you are driving the right traffic to your website
The most effective communications strategy will ensure these areas work together and is measured using advanced (though not necessarily complicated) analytics that tie communications back to real business results.