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How Much Should Fintechs Spend on Marketing: Budget Allocation

Contributors: Amol Ghemud
Published: March 14, 2024


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The FinTech industry is like a bustling metropolis, a place where sleek skyscrapers representing innovative financial products jostle for attention. But just like in any bustling city, competition is fierce. To stand out amongst the digital crowd, FinTech companies need a strategic fintech marketing plan – and a crucial part of that plan is figuring out how much rent to pay in this ever-expanding marketing landscape.

So, the burning question is: how much should FinTechs allocate to their marketing budgets? There’s no one-size-fits-all answer for fintech marketing spend, but fear not. This guide will equip you with the knowledge to make informed decisions about your fintech marketing spend and FinTech marketing budget allocation.

Understanding the Budgetary Battlefield

Before getting a fintech marketing plan, let’s get a lay of the land. FinTech is a dynamic ecosystem, and companies fall into two broad categories: the scrappy startups and the established players. Startups, like the proverbial wide-eyed youngsters entering the city, need to focus on building brand awareness and establishing themselves. Established players, on the other hand, are more akin to seasoned city dwellers – they might shift their focus towards user acquisition or lead generation to fuel further growth.

But here’s the thing: regardless of whether you’re a startup or a seasoned pro, marketing is the oxygen that keeps your FinTech business alive. It’s how you attract potential customers (think savvy urban explorers navigating the financial district) and convince them to choose your innovative financial products over the competition.

Budget Allocation: A Balancing Act

Now, let’s delve into the nitty-gritty of budget allocation. Here are three key factors that will influence how much you spend:

1. Marketing Goals: Think of your marketing goals as the specific destinations you want to reach in the bustling city of FinTech. Are you aiming for brand awareness, the equivalent of putting up a giant neon sign proclaiming your company’s name? Or is your primary goal user acquisition, akin to funneling those potential customers through your digital storefront? The resources you allocate will differ depending on your desired outcome. Brand awareness campaigns might involve high-impact content marketing, while user acquisition might require targeted social media advertising.

2. Target Audience: Who are you trying to reach? Understanding your target audience is like having a map of the city – you need to know where your ideal customers “hang out” online. Are they young, tech-savvy professionals who frequent social media platforms? Or are they risk-averse retirees who rely on email newsletters for financial information? Once you understand your target audience’s demographics and online behavior, you can tailor your marketing channels to reach them effectively.

3. Company Stage: As mentioned earlier, startups and established players have different marketing needs. Startups, still establishing their brand identity, might need to allocate a larger portion of their budget towards building brand awareness. Established players, with a strong brand presence, can focus more on lead generation or user acquisition strategies.

Industry Benchmarks: A Glimpse into the Spending Spree

You might be curious: how much are other FinTech companies spending on marketing? Industry reports often cite averages ranging from 5% to 15% of revenue. While these benchmarks offer a starting point, relying solely on them can be misleading. Remember, the “average” FinTech company doesn’t exist. Every company has unique goals, target audiences, and growth stages – factors that significantly impact fintech marketing spend.

Here’s an analogy: imagine comparing the marketing budget of a local bakery with that of a global fast-food chain. Their spending will differ vastly! The same principle applies to FinTech. A scrappy startup disrupting a niche market will likely allocate a different percentage of revenue compared to a well-established player targeting a broader audience.

Budget Allocation Strategies: Charting Your Course

So, how do you decide how much to spend on marketing? Here are three common budget allocation strategies:

  • Rule-of-Thumb Approach: This is the “shoot from the hip” method, where you allocate a specific percentage of your revenue to marketing (e.g., 10%). While simple, this approach can be wasteful. It doesn’t take into account your specific goals or the effectiveness of your marketing efforts.
  • Goal-Based Allocation: This is a more strategic approach. Here, you define your specific marketing goals (brand awareness, lead generation, user acquisition) and allocate your budget based on the expected Return on Investment (ROI) for each tactic. This ensures your marketing spend is directly tied to achieving measurable results.
  • Data-Driven Approach: This is the gold standard of budget allocation. Here, you leverage marketing analytics to track the performance of your campaigns across different channels. By analyzing data such as click-through rates and conversion rates, you can identify which channels are yielding the best results and optimize your budget accordingly. This data-driven approach ensures you’re getting the most bang for your buck.

There’s no magic formula for FinTech marketing budget allocation. The best approach considers your company’s unique goals, target audience, and growth stage. Utilize industry benchmarks as a starting point, but don’t be afraid to customize your budget based on your specific needs.

Marketing Channels for FinTechs: Reaching Your Target Audience

Now that you’ve mastered the art of budget allocation, it’s time to explore the vibrant marketplace of marketing channels available to FinTech companies. Here are a few popular options:

  • Content Marketing: In the bustling city of FinTech, content marketing is like a well-stocked bookstore – it attracts potential customers by offering valuable information and establishing your company as a thought leader. Create informative blog posts, educational webinars, and engaging infographics that address your target audience’s financial pain points.
  • Paid Advertising (Search & Social Media): Think of paid advertising as targeted billboards strategically placed throughout the city. Utilize search engine marketing (SEM) to ensure your company appears at the top of relevant online searches. Additionally, leverage social media advertising platforms like Facebook and LinkedIn to reach your target audience with laser precision.
  • Influencer Marketing: Partner with social media influencers who resonate with your target audience. These influencers, like trusted local guides in the city, can introduce your FinTech products and services to their loyal followers in an authentic and relatable way.
  • Public Relations (PR): PR is all about generating positive buzz for your company. Aim to secure media coverage in relevant publications and online platforms. Positive media mentions are like glowing reviews from respected city authorities, building trust and credibility with potential customers.

Remember: The optimal marketing channel mix depends on your specific goals and target audience. A data-driven approach allows you to test and refine your strategy, ensuring you reach the right people with the right message at the right time.


By now, it’s clear: there’s no one-size-fits-all answer to FinTech marketing budget allocation. The key lies in crafting a strategic approach tailored to your company’s unique needs and goals. Consider the factors discussed in this blog – industry benchmarks, budget allocation strategies, and marketing channels – to make informed decisions about your marketing spend.

Additional Resources: For further guidance on FinTech marketing budget planning, explore industry reports from reputable research firms and marketing association websites. 

At upGrowth, we understand the complexities of navigating the FinTech marketing landscape. We offer a comprehensive marketing service suite to help your FinTech company achieve its full potential. Let our team of experts guide you through budget allocation, channel selection, and campaign execution. Contact us today to schedule a free consultation and discover how upGrowth can help your FinTech company thrive!


1. Is there a set percentage of revenue a FinTech company should allocate to marketing?

No, there’s no one-size-fits-all answer. Industry benchmarks suggest a range of 5% to 15% of revenue, but the ideal allocation depends on your company’s specific goals, target audience, and growth stage.

2. What are the different budget allocation strategies for FinTech marketing?

There are three main strategies:

  • Rule-of-thumb approach: Allocate a fixed percentage of revenue (e.g., 10%). This is simple but doesn’t consider specific goals or campaign effectiveness.
  • Goal-based allocation: Allocate budget based on expected ROI for each marketing tactic tied to your specific goals (brand awareness, lead generation, user acquisition).
  • Data-driven approach: Utilize marketing analytics to track campaign performance across channels and optimize budget allocation based on which channels yield the best results.

3. What are some popular marketing channels for FinTech companies?

Here are a few popular options:

  • Content marketing: Create informative content (blog posts, webinars, infographics) to establish thought leadership and address your target audience’s financial needs.
  • Paid advertising (search & social media): Utilize search engine marketing (SEM) for high visibility in relevant online searches and leverage social media advertising platforms for targeted audience reach.
  • Influencer marketing: Partner with social media influencers to introduce your FinTech products and services to their audience in an authentic way.
  • Public relations (PR): Secure positive media coverage in relevant publications to build trust and credibility with potential customers.

Read More:

Fintech Marketing 2024: Tackle Marketing Challenges with 12 Unique Strategies

Fintech Content Marketing: Creating SEO-Friendly Financial Content

Top Fintech Marketing Companies in India 2024: Transforming the Financial Landscape

Power of SEO in Fintech App Development: A Guide to Boosting Visibility

SEO Analytics for Fintech: Measuring Success and ROI

SEO Strategies for Dominating the Indian Fintech Market

About the Author

Optimizer in Chief

Amol has helped catalyse business growth with his strategic & data-driven methodologies. With a decade of experience in the field of marketing, he has donned multiple hats, from channel optimization, data analytics and creative brand positioning to growth engineering and sales.

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