Why is Wealthsimple’s Brand Experience so Good?
The fintech category is a crowded space with multiple brands competing for the same investment dollars. The complexity of investment class types is growing with NFTs, DAO, and Crypto EFTs. Brands in this category on top of the typical branding challenge of positioning yourself have an extra challenge of educating their target group and gaining trust.
In my opinion, of the branding leaders in this space is Wealthsimple. Here are the strengths that make the Wealthsimple brand experience so good.
Consistency
Wealthsimple kept its branding look and feel consistent throughout the years. Most importantly every touchpoint with the brand: Commercials, Websites, Newsletters and Billboards all have a consistent feel. You have no doubt which brand are you interacting with. Even when they use different colours like on Wealthsimple Crypto — you still know it’s Wealtshimple.
A lot of marketers and designers spend countless hours tinkering with fonts, rebrands and shades. I think what’s most important though is consistency. The target audience just needs to be able to recognize that they are touching your brand. Wealthsimple nails it.
Segmentation and Targeting
Instead of targeting the traditional affluent segment for Financial services, Wealthsimple is going after Millenials and even gen Z. They most likely identified that Millenials who are in their late 30s have the income to invest and are open to using technology.
Identifying a lucrative segment is great, but how do you target it in an authentic manner? You use people that reflect your target audience in your creative and utilize media that they enjoy. Wealtshimple creative a lot of diverse younger people and it is obvious that they utilize influencer marketing like NBA stars and most recently Rachel Williams from the number one show in Netflix “Inventing Anna.”
Educating their user base:
Investors are prone to panic and knee-jerk reactions to world events. The investment classes are very diverse and complex in 2022. To keep investors loyal and continue to build trust education is needed.
Wealthsimple Brand delivers on this front with two initiatives:
Wealthsimple Magazine:
There is a mix of purely educational articles, with stories and influencer articles. All delivered within the same branding look and feel.
Proactive Email Marketing:
Whenever world events happen, Wealthsimple sends a calming email that explains that time in the market beats timing the market.
Bottom Line:
Wealthsimple is doing a great job at keeping its branding consistent and recognizable. They work hard on building the community feel and trust among their prospect and clients. This community feel not only helps the bottom line but also creates barriers to entry for other Fintech companies.
With brand experience like this, you almost forget to check what was the ROI on your portfolio.
