Winning Olympic Communication Strategies for Fintechs

I've always been fascinated by the Olympics. While the incredible athletic feats are inspiring, the games are much more than that. The global event is a celebration of planning, fierce competition and storytelling. Every two years, we’re drawn into the personal stories of athletes, learning about their sacrifices, perseverance, and the support networks that helped them become the best in the world. It’s a marketer’s dream.  

There's a lot to learn from the way these athletes showcase their strengths and connect with fans worldwide. Many of the lessons ring true in a fintech’s B2B market, showing us the gold standard for explaining unique offerings, managing reputation, and building brand awareness.

Here are six ways fintechs can take inspiration from the Olympic spirit to optimize their communications efforts:

A Defined Communications Strategy

Much like an Olympic athlete’s strict training regimen, fintechs need a well-defined communications strategy with clear goals. Cohesive messaging ensures that everyone – employees, partners, clients and prospects – understands how to clearly articulate and/or interpret these messages. This consistency helps build and support your brand while connecting with the market.

The Power of Storytelling

One of the most captivating aspects of the Olympics is the stories behind the athletes. Fintechs should also harness the power of storytelling to connect with their audiences. It humanizes the brand and connects with the audience on an emotional level. Sharing stories about the impact of what a company solves for makes the brand more relatable, engaging and memorable.

Adaptability

Olympic athletes must be adaptable, prepared to handle unexpected challenges such as sudden weather changes or event postponements. For example, the postponement of this year’s men’s triathlon required athletes to adjust their mindset and training to stay ready for competition. In the fast-paced world of fintech, adaptability is equally crucial. Companies must be flexible and responsive to market shifts, regulatory changes, or new technologies. Staying agile and prepared to pivot ensures that fintechs remain relevant.

Continuous Learning

Athletes constantly train and refine their skills to stay competitive. For fintech communications teams, continuous learning is crucial to staying ahead. This involves staying updated on industry trends, new communication tools, and best practices. Encourage team members to attend workshops, conferences, or webinars to keep their skills sharp and knowledge current.

Using Data

Data plays a critical role in measuring athletic performance, and it’s equally as important in communications. Data validates stories and supports strategic decisions. Whether it's data from customer feedback, market research, or industry reports, using data helps create compelling and credible narratives. It also guides the direction of the communications strategy, ensuring that efforts are targeted and effective.

Evaluation and Improvement

Just as athletes review their performances to identify areas of improvement, fintech companies should regularly evaluate their communications strategies. This involves assessing what has worked well and what hasn't, allowing for adjustments and enhancements. Continuous evaluation ensures that the communications approach evolves with the company's needs and the industry's changing landscape. It also helps maintain a clear and consistent message that resonates with the target audience.

The lessons from the Olympics offer a roadmap for fintechs to build a winning communications strategy that stands out in a competitive market. How will you refine your communications efforts to achieve excellence in the coming year?