In today’s digitally connected world, the finance industry is evolving at a rapid pace as per the changing needs of the customers. With the rise of social media and the increasing prominence of digital platforms, finance and fintech brands are exploring creative ways to connect, educate and market their products/services to their target audience. One such powerful way that has garnered traction these days through social media is influencer marketing.
It has emerged as a dynamic approach for finance brands to connect with their finance niched audience, build trust and drive brand awareness. Partnering with finance influential individuals, brands can make a strong online presence to attract, educate, aware and connect with their potential customers.
In this blog we will discuss all about influencer marketing for finance brands, the impact of influencer marketing in the fintech industries, some key considerations while implementing this strategy, the benefits it offers , how you can do influencer marketing and utilize finance social media influencers.
So let us dive in!
Harness the Potential of Influencer Marketing for Finance Brands
Influencer marketing for fintech/finance brands has become a formidable strategy, empowering them to effectively engage with their target audience.
Warren Buffet once said, “Through the power of influencer marketing, finance brands can create enduring relationships with customers by offering invaluable financial knowledge and guidance to those seeking a brighter financial future.”
How finance brands can strategically collaborate with finance creators
Finance brands can strategically collaborate with finance creators who have a strong social presence in the finance and investment sphere to form a powerful context of trust and confidence among consumers. This partnership will improve the brands’ visibility and, at the same time, create goodwill with their target market. Moreover, another important aspect that cannot be overlooked is its ability to generate leads and conversions.
Finance influencers help audiences connect with a vibrant community of investors, access instantaneous market updates, engage in deliberations, and explore job opportunities within a comprehensive investing-intensive social web. They are part of vibrant online social networks and help people join thriving communities of like-minded individuals who share their goals and benefits. For example, Sharan Hegde’s “top 1% club” helps people attend weekly live sessions, grab the latest finance news, and help you comprehend all your finance-related queries. This way a brand is connecting with the people through an influencer.
Click here for the list of best finance YouTubers in India to collab with
The key lies in choosing finance influencers with a similar vision and objectives and whose values align with your financial goals and missions. When their expertise meets with the brand’s offerings, it results in a symbiotic relationship that enlightens the viewers in a different way completely. This innovative alignment ensures an authentic and unbreakable bond between the brand and the audience while amplifying its reach to a wider pool of potential customers.
Influencer marketing benefits finance brands on a deeper level. It fosters a sense of belonging among the audience by compelling them on a personal level. But how do the finance creators do so? It is simple, they demystify the complex financial concepts and craft relatable and easy-to-understand topics making them more accessible to the audience.
Before starting to plan an influencer marketing plan, financial brands must pay close attention to key considerations while implementing their financial influencer marketing strategies.
Influencer Marketing Strategy for Finance Brand: Factors to Consider Before Implementing
Collaborate with the Right Finance Influencers
Look for influencers who have a specialization in finance, investment, personal finance, or related topics. Plus, they should also have substantially high engagement rates. You should consider both macro and micro-influencers depending on your campaign objectives and needs.
Be Authentic
Always go for influencers who have a good command and expertise in finance. This will help you establish trustworthiness with your audience. Try looking for experts who are knowledgeable and have a proven track record of providing insightful financial content to the audience.
Comply with Legal Considerations
Finance brands are often required to comply with specific legal requirements. Therefore, you need to make sure that your influencers understand and adhere to these requirements while creating sponsored content for your brand.
Create Educational and Informative Content
Try to create content that adds value to your audience like personal finance tips, investment insights, budgeting strategies, etc. Talk to your finance influencers and make sure they could provide educational content that empowers your audience financially or not.
Give Product Reviews and Recommendations
One of the best ways to build credibility and generate interest in your offerings is to provide reviews and recommendations to your audience. Ask the finance influencers to review your fintech service/product, and provide honest feedback and benefits of your fintech services/product.
Conduct Contests, Giveaways, or Discounts
Drive engagement and create a sense of excitement among your target audience by partnering with fintech creators to conduct contests, giveaways, and discounts. This will encourage conversions while creating a personalized bond with your audience.
Why Should Fintech Brands Choose Influencer Marketing to Reach Their Potential Customers?
Influencer marketing has become one of the most important factors for finance brands that would succeed in the sphere of social networks. However, when it comes to branding on social media platforms, it becomes quite important to develop a strong strategy that can leave a positive impact on the targeted demographic. By implementing a successful influencer marketing strategy for BFSI, they can reap numerous benefits:
Brand Visibility
Finance brands can significantly enhance their visibility by aligning themselves strategically with finance influencers. Such a move allows them to leverage on their existing audience as well as reach out to those potential clients who may not be aware about them. They can also use their fame and knowledge in order to expand their boundaries. For example, finance influencer, Sharan Hegde, promoted Policy Bazaar. The brand gained visibility, recognition and numerous conversions after this post!
The biggest benefit such collaboration offers is the positive impact it leaves on the audience’s perception and recognition of the brand.
Trust and Credibility
Influencers are perceived as authentic and relatable figures by the audience. For example, to raise trust among its target consumer base, social investment platform, StockGro work together with leading financial influencers in India; Sharan Hegde, Anushka Rathod, and Shreyaa Kapoor for their finance influencer marketing campaign to make stock investment conversations unpretentious & relevant for GenZ & millennials consumers in India.
When they endorsed the brand’s product, the audience perceived it as an unaffected recommendation rather than a forceful traditional portion of ad. This already-established authenticity generated trust and credibility for the brand.
When the audience sees the finance creator endorsing a finance brand, it serves as social proof. They are most likely to trust the brand as someone they trust is endorsing it. In addition to that, the influencer’s endorsement validates the brand’s credibility and leaves a positive impact on the audience’s mind.
For example, CA Rachana has provided sessions on Forensic Auditing to ICAI Members crossways numerous cities like Agra, Delhi, Indore, Mumba, Guwahati, Kolkata, Amritsar, Chandigarh, etc., She has also taken Investor Awareness Conferences in the best interests of Securities Exchange Board of India at more than fifty officialdoms! She has steered “Finance for Non-Finance” workshops at many organizations including few MNCs.
Transparency
Audiences value transparent and open communication above all. It is the key to building trust among them and finance creators understood the importance of being transparent and disclosing sponsored content. Therefore, they try to create honest content. This honesty enables them to establish a sense of integrity and authenticity in turn fostering a strong connection with the audience.
By being transparent, influencers build a loyal following that values their opinions regarding the brand they are endorsing.
User-Generated Content
Influencer marketing thrives on user-generated content. It adds a human touch to the brands' offerings thus making it more trustworthy to the audience. When the audience will see finance creators sharing their personal experience of the stock market, investments, etc., they will relate to it and perceive it as honest testimonials. It provides them with a first-hand account of the brand’s product and services and how it could benefit them.
Here are some of the ways in which brands can use finance influencers in their marketing efforts:
Identify Your Goals
Begin by identifying your marketing goals. Determine what you want to achieve with influencer marketing like increased brand awareness, increased website traffic, leads generation, or more. Before implementing influencer marketing techniques to your financial service, you must be clear about what results you want. Clarity will help you achieve long-term goals.
Find Relevant Influencers
Research and look for influencers that are financially well-informed and who align with your brand’s values. This will help you in getting significant followers, high engagement rates, and conversions.
Access and Evaluate Influencers
The key to finding relevant finance influencers is accessing and evaluating their reach, engagement metric, content quality, audience demographics, and authenticity. Always look for influencers who are relatable and have a genuine connection with their audience.
Craft a Marketing Strategy
It is crucial to develop a comprehensive plan for your influencer marketing campaign for finance brands. First things first, determine the type of content you want the influencers to create like sponsored posts, product reviews, Q and A sessions, etc. Try to align your content with the message you want to send across.
Build Strong Relationships
Reach out to influencers, communicate your goals, business expectations, brand ideology, ideas, etc, and establish a mutually beneficial marketing strategy. Also, be open to their creative ideas and inputs.
Monitor Performance
Last, but not least, keep regular track of your finance influencer campaigns using metrics like engagement, website traffic, conversions, ROI, etc. Using tracking tools and analytics to access the audience can benefit you significantly by helping you craft better plans in the future.
Breaking Barriers: How Influencer Marketing Transformed Financial Brands
Here are some of the successful examples of finance brands that used the potential of influencer marketing and gained tangible results:
- Kotak Mahindra Bank, a leading financial institution in India, carried out a campaign called #SamayKoSahiKaamPeLagao involves the promotion of their zero-balance account, Kotak 11. It aired an ad starring popular comedians Tanmay Bhatt and Samay Raina. The campaign highlighted how Kotak11 allows individuals to utilize their time wisely with smart gags. The ad not only entertained the audience but also conveyed the message of the bank’s digital banking capabilities.
- Groww, a leading investment options provider partnered with a selection of renowned YouTube influencers to advertise its services to the Tier 1 city audience aged between 20-28 years. The campaign was supported by major influencers like Himesh Madaam, Seeken, and The Urban Fight along with other creators like Arun Surya Teja, Gauravxone, and Warangal Diaries. While that kind of synergy was in place, Groww sought to create awareness of the readily available app that they have designed to ease the process of stock market and mutual funds. Evidently, the campaign created significant traction and created a buzz among the audience. It showcased the app’s user-friendly interface, transparent investment options, and the potential for wealth creation.
- The #DoubleBenefitFromRBLBank campaign is the perfect example of a fintech influencer marketing campaign. RBL bank partnered with famous celebrities like Sameer Reddy and Ujjawal Pahwa to target salaried individuals and homemakers across the country. The campaign was a huge success and reached over 6,70,000 target customers and generated 7,70,000 engagements.
- HDFC Bank has successfully executed innovative fintech influencer marketing campaigns like #spenditwell and #moohbandrakho. They have been a huge success in the market. The #moohbandrakho campaign featuring Gauhar Khan, Prajakta Kohli, and Dhanshree Verma, garnered over 19 million views and more than 1.5 million engagements across all the platforms within just 2 days of its launch.
- Angel Broking, one of the most recognized stock market brand, partnered with influencers from the finance industry. To promote the functionality of the Angel Broking app, the influencers recorded YouTube videos to inform followers of the app’s features. The campaign managed to successfully engage and deliver relevant information to the target consumers. The success of this campaign lay in selecting the right customers and employing effective influencer marketing while keeping the ongoing trends in the finance industry and the changing social media algorithms.
Conclusion
Influencer marketing is the ultimate solution for finance brands who really want to bring their brand to the next level and engage their audience in a more genuine way. That is why, to your attention, we are one such agency that can help you partner with top-notch influencers in the finance industry.
Henceforth, prepare yourself to inform your brand’s story through our finance influencers and achieve the desired outcomes in no time. Because of their coverage, reliability, influence, and wide reach, we assure you to expose your finance brand to the limelight in the realms of finance.
Whether you are a finance startup or an established brand aiming to strengthen your market presence, our customized influencer marketing campaigns will help you achieve your goals. We will select well-established influencers in the financial world and target demographics, ensuring maximum impact. All you have to do is relax. Rest we will handle.
