Influencer Marketing For Finance Brands

Those days are long gone when finance and fintech brands relied solely on traditional advertising, hoping to reach their potential customers. These days, marketing has taken a fresh turn. A turn where brands can find their potential customers in a single place. Influencer marketing for finance brands has become a trusted and authoritative force in the fintech industry.

Influencer marketing in the finance industry allows brands to present complex financial concepts in a more relatable and understandable manner. Influencers often use storytelling, real-life examples, and personal experiences to demystify financial products and services.

Why has influencer marketing become so popular in this particular industry?

Because finance is a complicated subject, and finance influencers are the key drivers of this industry. Along with them, Influencer marketing combines authentic content with strategic brand promotion, which is precisely what made it so popular in the finance industry. Finance brands use influencer marketing to tap into the established trust and credibility that influencers have with their audience. This approach made financial information way more accessible and easy to understand, which has led to the success of influencer marketing in the finance industry.

So, how can finance brands benefit from working with these influencers?

When brands partner with trusted finance leaders in the industry, they can tap into their loyal and engaged audience. Such collaborations help brands build credibility, reach a broader audience, and promote their products and services in a relatable and trustworthy manner.

To understand how influencer marketing works for finance brands, let’s examine its benefits and what brands can gain from it.

Benefits of Influencer Marketing for Fintech Brands

1. Increased Trust, Reliability and Credibility

Through years of dedicated, informative and engaging content, finance influencers have already built trust with their followers. So, when they recommend a brand, their audience is more likely to trust the recommendation and, hence, trust the brand.

2. Wider Reach and Brand Visibility

Social media influencers for finance brands like Sharan Hegde and CA Rachana Ranade have garnered more than millions of followers. By collaborating with such influencers, finance brands can reach potential customers who might not be accessible through traditional advertising channels.

3. Social Proof

Finance influencers have already gained their audiences’ trust in the market. Now, when those influencers advocate for your product or service, their audience will automatically put their trust in your brand, which serves as social proof. The influencer’s endorsement validates the brand’s credibility and gives it a positive remark in the eyes of the audience.

4. Value Proposition

Executing a finance influencer marketing campaign can enhance the value of the content and the underlying message involved in it. For finance brands, this not only translates to increased trust and credibility but also better reputation management, authentic customer education and minimised digital disruptions.

5. Client Retention

Influencers bring with them loyal and existing followers to the table, which offers finance brands the opportunity to target specific audiences. With their trust and credibility, brands can build long-lasting relationships with their clients using effective financial influencer marketing strategies. This ultimately helps in retaining existing customers and actively promote the brand to new audiences.

6. Educational Content

Finance influencers already excel at making complex financial topics easy to understand. Brands can leverage this by sponsoring content that educates the audience about their products and services, as a part of their Influencer Marketing Strategy for Finance Brands. Take, for instance, an influencer creates a step-by-step guide on using a new trading platform to help demystify the complete process to their audience.

Now that we have understood the benefits of the said strategy in the finance industry, let's understand how influencer marketing in the fintech industries works and how it has benefitted a finance brand by looking at an example.

A Successful Fintech Influencer Marketing Campaign

Upstox X Grynow

Upstox, a finance brand, collaborated with a top influencer marketing company in India, - Grynow to execute an influencer marketing campaign for finance brands to raise awareness and boost Upstox app downloads.

Objective: The objective of the campaign was to encourage people to open a Free Upstox Gold Account, enticing them about the Free E-Gold.
Strategy: The campaign targeted people ages 25-40 with witty and informative videos about investment opportunities. The agency developed content ideas and scripts and seamlessly integrated Upstox into long-format videos.
Influencers: The campaign was executed with 100 macro influencers across genres, including leading financial influencers in India and infotainment creators.
Optimization: The agency employed multiple strategies, including integrated and dedicated videos. They witnessed integrated videos gaining 15% more traction than dedicated videos, which led them to focus further on amplifying the integrated format.
Result: The 3-month long campaign generated a total of 200 million views through 100 videos and led to an 8% increment in engagement. The campaign was considered a huge success!

This way, influencer marketing benefits finance brands, and Upstox benefitted from the finance influencers' already-established audiences, leveraging their credibility and reach to enhance trust and drive app downloads.

Wrapping Up

In conclusion, influencer marketing brings way more advantages for finance brands than the investment. By partnering with credible finance influencers, brands can achieve higher ROI, make a name in the industry and establish itself as a prominent presence in the competitive finance market.

And, with the right influencer marketing agency by your side, like Grynow, influencer marketing for your finance brand will generate 10x more ROI than usual.