Entrepreneurs are Dinero's bread and butter. But with fewer people starting businesses than ever before in Denmark, where the online accounting platform is based, Dinero decided it needed to experiment with new approaches to expand its market and nurture potential customers over time, says Nicklas Aabech, Digital Marketing Manager. He sat down to discuss the company’s new approach to its marketing.
Navigating an increasingly challenging market
One of the biggest challenges Dinero faces right now is a shrinking group of prospects, while the competition for those who do remains fierce. “Over the last two years, the number of new companies being created in Denmark has dropped significantly,” says Nicklas. “It's clear that our target group is just getting smaller by the year.”
While the company hasn’t seen a reduction in leads yet, Nicklas says they wanted to be on the front foot should they start to see an impact on leads in the future. But to do that, they needed to ensure they had solid foundations in place, first, with the company’s performance marketing activity running in the background to ensure they’re still converting prospects to customers.
“We’ve been digging into the opportunities in our customer journey and making sure our performance marketing is in a good place,” he says. “Since that’s on the right track, we’ve been able to focus on this long-term play.”
Creating and nurturing a new audience
Recognizing the need for a different approach, Dinero, embarked on a journey to future-proof their product by creating a new market, creating content that aims to inspire potential entrepreneurs and nurture them over time.
Nicklas says they’ve shifted their focus from conversion activities to talking about the benefits of being an entrepreneur and creating your own company. “What are the nice things about it? What can you do? We’re trying to inspire young people who might be entrepreneurs in the future,” he says.
They’re experimenting with various channels, including their blogs, YouTube, and even a TV campaign,to inspire and educate young people who may eventually become entrepreneurs. While this content may not result in customers right now, its purpose is to plant the seeds of inspiration that will hopefully bear fruit in the future.
“We’re sharing Inspiring stories that we might not get any conversions on right now, but the hope is to inspire them in the coming years to start their own companies and use Dinero when they do.”
Final word
Ultimately, says Nicklas, by generating shareable and inspiring content and building and nurturing relationships with Denmark’s future entrepreneurs, they hope to remain top-of-mind and eventually convert their audience into customers when the timing is right—no matter how far into the future that might be.
“If we can just inspire with our free content and stay top of mind, hopefully, one day when these people do become entrepreneurs they’ll also become customers. That’s our long-term goal right now.”
