Cross-border business payment marketing: Extending to social media and beyond
In the ever-evolving world of business, understanding the strategies of major players is crucial. A recent review of B2B payments companies' social media usage has shed light on the tactics these companies employ, offering valuable insights into their marketing strategies.
The effectiveness of social media platforms for B2B payments players varies, influenced by factors such as company age, location, and ownership status. For instance, younger or startup companies often favour dynamic content like live commerce events and influencer partnerships to rapidly build awareness and trust, while older, more established firms focus on authoritative educational content and case studies to reinforce credibility.
Geography plays a significant role in the choice of communication platforms. Companies tailor their social media presence to the platforms favoured in their target markets for effective cross-border outreach. For example, Japanese companies entering the Taiwanese market rely heavily on Facebook, LINE, Instagram, and YouTube, reflecting local platform popularity and consumer behaviour.
Ownership status also impacts the selection of social media platforms. Fintech players and digital-first companies emphasise innovative payment technologies and real-time payment methods to showcase their disruptive capabilities, while traditional institutions may lean on trust-building content like testimonials and behind-the-scenes insights, emphasising reliability and compliance.
The purpose of social media accounts for B2B payments companies includes recruitment strategies and customer focus. These players leverage social media platforms primarily to educate their audience, showcase credibility, and engage potential clients with tailored content such as guides, case studies, video tutorials, and behind-the-scenes insights. They focus on sharing educational blog posts, lead magnets (like ebooks and checklists), testimonials, and product demonstrations to foster trust and highlight their problem-solving capabilities.
The use of social media by B2B payments companies is not as straightforward as it is for consumer-focused brands. The strategies of B2B cross-border payments brands are more complex, reflecting the need to reach decision-makers for both personal and business purposes.
In conclusion, the social media strategies of B2B cross-border payments companies are tailored to their target audience and market preferences. They drive engagement through educational, trustworthy, and visually engaging content, with strategies varying according to company maturity, geographical focus, and organisational type. This review offers a unique perspective on the B2B cross-border payments industry, providing an insightful picture of the B2B cross-border payments landscape.
[1] Social Media Strategies for B2B Cross-Border Payments Companies [2] The Role of Social Media in B2B Cross-Border Payments [3] Fintech vs Traditional Institutions: Social Media Strategies in B2B Payments [4] Regional Differences in Social Media Usage for B2B Cross-Border Payments
- Fintech companies in the B2B cross-border payments industry make use of social media platforms to showcase their disruptive technology and real-time payment methods, aiming to differentiate themselves from traditional institutions.
- Understanding the diverse social media strategies employed by B2B cross-border payments brands requires a consideration of factors such as company maturity, geographical focus, and organizational type, with strategies varying considerably to reach decision-makers effectively in multiple markets.
