I am excited to participate in the FinTech Growth Syndicate‘s Industry Best Team (IBT) initiative.
IBT is composed of former and current founders, investors, corporate innovators, design thinkers, doers, and sales & marketing gurus. The idea is to give clients access to some of the most accomplished professionals in a broad range of fields.
Below is an interview I did with FinTech Growth Syndicate discussing my motivations for joining these experts and my thoughts on the future of fintech.
FinTech Growth Syndicate (FGS): What makes you an online influence expert?
Jay Palter (JP): A long time ago, I realized that social networks were much better used for networking in a B2B context than for marketing. So, I started building relationships with people online, instead of marketing at them. I consciously focused on giving more than I was asking for and I invested time and attention in building and contributing to online communities, instead of obsessing with what I was getting from these networks in terms of new business and opportunities.
We’ve all heard the business adage: “Who you know is more important than what you know.” When used strategically, online social networks and the virtual communities of influence that they give you access to can be among the most potent business development tools in your arsenal. How do I know? I’ve developed my own relationships with dozens of fintech influencers around the world and have leveraged this network to increase my own visibility as a leader in this space. Everything I advocate doing to build visibility and influence for my clients is based on first-hand experience.
FGS: What is the current trend in your area of expertise that people should pay attention to?
JP: Social networks are constantly changing. Algorithms that control who sees what in social networks are the monetization engines for these businesses, whether we’re talking about social sites like LinkedIn, Twitter and Facebook, or Google search itself.
If there’s a trend to pay attention to, it’s this: these businesses want to monetize their networks and they are giving away less and less access for free. This is commonly described as the decline of organic reach. If you want more visibility and reach, you have two main options: pay for it, or earn it through engagement. Influencers who have online audiences are the gatekeepers and you need to get to know them and help them get to know you if you want to increase your visibility online.
You can’t pay for this kind of influence, you have to earn it. Smart businesses see this trend and are building their capacity, both as businesses and as individual leaders, to engage online influencers in authentic and productive relationships.
FGS: Why do you love FinTech?
JP: Fintech is the frontier of the future. Every technology trend (eg., data analytics, artificial intelligence, blockchain, biometrics, Internet of things, etc.) is intersecting with the re-engineering of finance as we know it. In order for the technology future to play out, finance needs to change and be transformed.
Innovative, out-of-the-box thinking is everywhere in FinTech and that is spectacularly exciting to be part of – especially if you’re a person with a penchant for creative thinking and making things work better.
FGS: Why are you participating in the FinTech Growth Syndicate’s Industry Best Team?
JP: If it’s not already obvious, I’m passionate about what I do, the people I encounter and the mission of building a better future. What could be better than aligning myself with other leaders who bring similar passion and expertise to their work?
In a rapidly changing market space, the people that your business needs to succeed don’t all work for you. FGS is helping to bring these people together and I’m proud to participate.
Visit Fintech Growth Syndicate for more information on their Industry Best Team.