Finding product-market fit for a fintech investment startup

Key results

Redefined the platform’s market approach, successfully connecting its offerings with key audience needs and achieving measurable revenue growth.

37%

≈25%

growth in investment size in 6 months

activation rate increase in 6 months

Project overview

In 2019, while leading one of Deloitte’s marketing consulting teams, I was tasked with the challenge of finding product-market fit for a relatively new investing platform (client name withheld for confidentiality; references available upon request).

The platform allowed users to invest as little as €500 in shared projects, making it accessible to people from various backgrounds, not just seasoned investors.

However, this broad target audience brought unique challenges. Many prospects struggled to understand investing concepts and there was a general reluctance to trust the platform or believe in its potential returns.

Objective

The main objective of the project was to understand the target market for this investing platform and identify the segments most likely to become clients. With a broad audience—from experienced investors to those completely new to investing, and with different motivations behind their decision-making—our first step was to break down these groups and figure out what drove their interest or hesitation.

The second part of the project involved building a marketing plan with tailored messages and touchpoints for each segment. By creating messaging, educational content, and user experiences specific to their needs, we aimed to make the platform accessible and compelling for each group. This approach would lay the groundwork for product-market fit, ensuring we hit the mark across all segments and set up the platform for growth.

Strategy

As project lead, I designed a comprehensive go-to-market strategy rooted in understanding local market dynamics and the competitive landscape. This included:

1. Audience research

Through surveys, focus groups, and user interviews, we gained insights into key demographics, attitudes toward investing, and pain points unique to each segment. This allowed us to understand better the motivations, concerns, and barriers for novice and experienced investors alike.

2. Segment creation

Based on our research, we identified two key dimensions: experience in investing and motivation for investing. These dimensions allowed us to map users within a segmentation matrix:

• Experience in investing (horizontal axis): Captures the level of familiarity or expertise individuals have with investing, ranging from Novice (no experience) to Experienced (extensive experience).

• Motivation for investing (vertical axis): Reflects the primary driver behind individuals’ decisions to invest, ranging from Personal financial growth (focused on returns and wealth building) to Impact-oriented goals (focused on ethical, social, or community benefits).

This segmentation allowed us to clearly categorize the audience in six main groups:

• Cautious beginners: Individuals with little to no investing experience, often younger professionals or those in mid-career. These users were curious about investing but hesitant due to fear of losing money and unfamiliarity with financial concept.

• Community-oriented savers: Individuals passionate about investing in local or community-driven projects. They wanted to support initiatives that mattered to them while earning modest returns.

• Tech-savvy millennials: Younger, digital-first users who preferred intuitive, mobile-friendly platforms. They were drawn to gamified experiences and sought ease of access and clear, transparent processes.

• Passive investors: Busy professionals and retirees looking for a hands-off approach to growing their wealth. Their primary concern was whether the platform could deliver consistent returns with minimal effort.

• Impact-driven investors: People motivated by the opportunity to align their investments with social or ethical values, such as sustainability and community growth. Their barriers included trust in project selection and transparency around impact.

• Experienced, high-net-worth investors: Seasoned investors seeking diversification and access to exclusive, high-value projects. They prioritized credibility, high returns, and personalized services.

3. Tailored marketing messages and touchpoints

To connect with each segment meaningfully, we focused on crafting personalized messages and designing touchpoints that addressed their unique motivations while recognizing the overlaps between groups.

For Cautious beginners, simplicity and trust were the priorities. We created content that demystified investing—things like step-by-step guides, short explainer videos, and introductory webinars. These were complemented with real-life success stories to build confidence, along with low-barrier options to get started, like smaller initial investments below the required 500€.

Passive investors overlapped slightly with beginners but leaned more toward convenience. They valued automation and ease, so our messaging emphasized “effortless investing.” We showcased features like auto-investment plans with clear projections, supplemented by intuitive onboarding tools and personalized recommendations.

Impact-driven investors shared some similarities with Community-oriented savers, but their focus extended beyond local impact. They wanted to see measurable change, so we highlighted the social and environmental benefits of their investments. Transparent project updates, impact metrics, and stories from supported initiatives were critical in building their trust.

When speaking to High-net-worth investors, we leaned into the exclusivity and credibility of the platform. They responded well to messaging around premium features, like access to unique projects and advanced analytics. Direct outreach from account managers, alongside exclusive webinars or thought leadership content, helped us position the platform as a trusted partner for serious investors.

Community-oriented savers were drawn to stories they could relate to—how their investment supported local businesses or benefited their region. We used localized campaigns and testimonials to bring these narratives to life. While their motivations often intersected with impact-driven goals, they appreciated the emotional connection of seeing tangible outcomes close to home.

Finally, Tech-savvy millennials cut across several other groups but stood out in their appetite for innovation and ease of use. We invested a lot on social media here, especially platforms like Instagram and TikTok, where we could showcase the platform’s modern, user-friendly approach.

Results

After completing the audience research, segmentation, ideal customer profile definitions, and development of tailored marketing assets, Deloitte handed the project over to the investment startup for in-house implementation.

Six months after implementing our recommendations, the startup reported:

• Activation rates:

Activation rates showed a significant increase, with 37% of previously inactive users (sign-ups that hadn’t invested) making their first investment. This progress was particularly strong among Cautious beginners and Impact-driven investors, with the latter achieving a 51% activation rate. Sustainability-focused users in the impact-driven segment responded especially well to tailored messaging and real-time impact tracking, which reinforced their commitment to socially responsible investing. Cautious beginners benefited from educational content and simplified onboarding, helping them overcome initial hesitation.

• Average investment size:

Average investment size grew between 20 and 30% across all segments (excepting High-net-worth investors which only increased 7%. This lower percentage was offset by the significantly higher baseline of their investments, meaning the absolute growth in contribution size from this group was still substantial). Impact-driven investors led this growth, motivated by transparent reporting and mission-aligned projects.

• New signups:

New signups surged by 45%, fueled by targeted marketing that effectively reached untapped audiences, particularly Tech-savvy millennials and Community-oriented savers. Personalized onboarding campaigns helped engage these new users early on, introducing them to the platform’s features and guiding them through investment opportunities.

What I would have done differently

1. Reevaluate the Tech-savvy millennials group: Initially, we treated the Savvy millennials as one audience, but the group turned out to be highly heterogeneous. Some were completely new to investing, like Cautious beginners, while others were experienced investors who wanted sleek, mobile-friendly tools. They also responded differently to impact/growth-oriented messages, had different interests… This diversity made it difficult to create a unified approach that resonated with everyone. In hindsight, I would have redefined this group early on, either splitting it based on experience or aligning it more closely with their shared tech-savvy behaviour rather than trying to address conflicting motivations.

2. Simplify segmentation: We initially segmented users into several subgroups to account for nuanced differences, such as growth-focused versus impact-driven motivations. However, we realised that what truly mattered in practice was experience level—whether users were beginners or experienced investors. Simplifying the segmentation would have allowed us to focus on what mattered most, rather than overcomplicating our approach with distinctions that overlapped or proved less relevant during implementation.