Thursday, November 26, 2020

Most effective marketing channels for fintech startup launch

Our startup on November 16th publicly launched our product (www.jenova.ai). We used multiple social media channels to promote our launch, including Facebook, Instagram, LinkedIn, and WeChat. We tracked the visits to our website on Google Analytics.

In the week of November 16th, there were 662 new visitors to our website. Nearly 90% of the new visitors came from direct URL visit or organic Google search, 4.2% came from Facebook, 3.3% came from LinkedIn, and 2.0% came from Instagram. 

Even though we do not have precise methods to measure the casual relationship between promotions on each social media channel and new visitors, nor can we effectively measure the number of impressions and the % of impressions that converted to website visits, we are able to get a good sense of how effective each social media channel is by monitoring the number of new visitors after each promotion was posted online, with the peak number of new visits somewhere between 20 minutes to 90 minutes after the promotion was posted. 

Using this crude method, we determined that Facebook posts and Instagram posts were ineffective in driving website visits; this is likely due to the relatively low number of followers we possess on those two platforms. We also determined that LinkedIn was extremely ineffective in driving traffic, despite the high number of impressions, connections, and social shares. By far the most effective channel for driving traffic was through WeChat social circle share feature, which accounted for the vast majority of the 90% direct URL visits and google searches. 


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