Here are some insights on the Fintech industry, some tried and tested Influencer marketing strategy for Fintech brands, and Kofluence’s experience working with pioneers in the industry.
FinTech – where technology meets finance! FinTech is all about leveraging technology to improve and automate traditional financial services. It encompasses a wide range of software, mobile apps, and other technologies that aim to enhance the way we manage our finances. FinTech has revolutionised the way we interact with money, making financial services are becoming more accessible, faster, and more cost-effective than ever before.
But did you know that 90 percent of Fintech startups haven’t been able to take off?
The reason is their inability to package and market the fintech product to their audience.
Influencer marketing is a powerful tool in the Fintech industry because it brings trust and authenticity to the marketing campaign. This is especially important when it comes to convincing people to invest their hard-earned money in a new Fintech application. By leveraging the trust and credibility of influencers, Fintech brands can connect with their audience on a more personal level and build long-term relationships. Influencer marketing is a winning strategy for Fintech companies, as it combines education, genuineness, connectivity, and exposure to create a holistic marketing approach.
Millennials constitute 34%, while GenZ accounts for 27% of India's population and both have made a clear presence in being users of fintech. With the Gen Z population being very active on social media platforms, influencer marketing makes it easier for brands to show up on the radar of their target audience, and stay ahead of the noise in an already saturated marketplace. Several offline and digital banks today harness the power of influencer marketing to reach a wider audience with higher earning potential but poor investment habits.
Influencer marketing is a potent tool for establishing credibility and authenticity as influencers enjoy a vast following that trusts their recommendations and interacts with their content regularly. In fact, studies show more than 60% of consumers rely on influencer recommendations when making a purchase decision. This form of marketing ensures higher reach, potential sales, and lasting impacts. Furthermore, social media content has a longer lifespan than print or broadcast content, boosting a brand's visibility and reach. Additionally, repurposing the content produced by influencers on your own marketing platforms is also an option.
Influencer marketing provides accurate data on customer behaviour, allowing you to measure key aspects of marketing campaigns like ROI, impressions, and engagement rates. This data can help you make product improvements and analyze the influencer's performance. In addition, influencers offer user-generated content at a reasonable cost compared to traditional in-studio video production. Brands can repurpose the same content as social ads to boost web traffic, social media traffic, and sales.
Sales run on recommendations now more than ever. Fintech influencers are trusted by their audience through the consistency and credibility they have been building over the years. Fintech influencer content boosts audience engagement while also driving other actions like clicks to your fintech brand’s social profile, visits to the websites, application downloads and more.
Kofluence closely worked with India’s leading Fintech brands
Mirae Asset joined hands with Kofluence to amplify the newest addition to their product portfolio – mStock, with the aim of driving brand awareness and account openings on their platform
INDmoney sought influencer expertise, tasking the team with maximizing their app install volumes, promoting users to log in as the 1st touchpoint and ultimately acquiring quality customers to invest in US stocks through their platform.
