Why Financial Services Should Be Using Influencer Marketing
As a banker or advocate of any other financial service, you first think of Instagram; there are a few thoughts that flash through your mind!
First, Instagram is just for GenZ!
Second, the target audience is too young to understand anything about banking or finance.
But what about influencers?
‘Well, the point is, influencers have a very glamorous life, and we do not think they would cater to banking that much.’
Before you say anything else, we would like to clarify that you are wrong in many sectors.
Yes, Instagram is for Genz, but it is not all for Genz.
Every influencer is asking how to get new followers on instagram, which could be beneficial for you.
In this excerpt below, we will be debunking some of the commonly known Instagram myths. Especially about influencer marketing and how it can help your financial services skyrocket.
Yes, you heard that right!
A bunch of really talented influencers can help your market grow exponentially.
Keep reading to find out more.
What Is Influencer Marketing?
At a simple level, influx ever marketing is when individuals with considerable followers and influence endorse businesses.
They can either have a fundamental lifestyle niche, have their product or service, or advertise other brands in exchange for a contract.
This is why financial services can use influencer marketing to endorse their services.
What Is The Current Statistic Of Influencer Marketing?
Recent research has shown that 44.7% of US Instagram users are most likely to buy a product because of their favorite influencer endorsing them.
Thus, if you need to reach out to a bigger mass, you will need these influencers!
Here is why!
1. The Engagement Is Phenomenal
Needless to say, social media has the best engagement ever.
Yes, at first, it was just for long-distance communication and sharing your life online. However, the more the concept of social media marketing excelled, the way the audience engagement grew.
Now, if your product is the talk in the digital space, you are trending!
With the help of influencer marketing, you will easily have to achieve that.
Not many people know about the financial plans and services; this could be a golden chance.
2. The Millennials & GenZ Are The Future
Yes, Instagram is for the mi8llelains and Genz!
However, is there any written rule that you can only sell your products and services to the ‘baby boomers’?
Then try to expand your target audience and concentrate upon the country’s future.l This is why you should consider Instagram today because people are always hyped about what they see online.
Rather than just reading about it in the newspaper or seeing it on a billboard.
Influencer marketing gives a unique and different touch to the services!
3. Instagram Is Credibility
If you are using Instagram as your digital marketing tool, you will be able to build some trust among your target audience.
This is because Instagram is a credible source!
If their favorite influencer is endorsing the product, it definitely must be something.
Yes, the audience is more likely to check through your profile and services.
4. Something Much More Emotional
When you have an influencer talk about your service in real-time, there is a human touch.
This is why you need influencer marketing!
Fort your followers to take you down from that pedestal, making the financial world intimidating and untouchable.
Plus, they will be able to explain in much simpler terms!
5. Attractive Endorsement
Have you seen your endorsements lately?
Why are they so bland and technical when it comes to financial services?
What happens to be more attractive can compel the audience to look at the services.
With excellent influencer endorsement, you wouldn’t have to worry about that.
One Step To The Future!
When we talk about influencer marketing, we take a giant step towards the future!
Especially for services like finance, which are much more traditional than any other market sector.
You are also helping the influencer while they help you.
It is like a big ecosystem!