Best Influencer Marketing Agency For Finance Brands 

Finance brands are growing with an overarching communications strategy of influencer marketing companies to reach and convince today's digitally aware consumers. They strategically utilize the knowledge, zeal, content and digital communities of leading finance influencers to put interesting, authentic and relevant content in front of the target consumers so that when they are ready to make a financial products or services-related decision, the brand is top in their mind.

A leading influencer marketing agency in India for finance brands, like Grynow is necessary as it can make a brand seem more human and reliable to thousands, even millions of people.

·     According to ET News Influencer market will surpass Rs 3k cr in FY24 and influencers will overtake celebs for Ads.

·     According to a survey by the American Bankers Association on more than 430 banks of all sizes, Banks have boosted their social media activities in recent years; 87% are very active, while only 13% are dormant.

Finfluencers or Finance influencers educate the masses with their content that has modified the way people invest, save and consume.

·   Varun Malhotra, with 388K subscribers on YouTube, says his videos are principally focused on only financial education as according to him, “there are a huge number of investors who want to learn the concepts of investing”

·     In the words of CA Rachana Ranade, “My aim is to improve financial literacy in India and to enable people to learn about stock markets in the most simplified way. I have been a part of the Teaching community for the last 10 years. I have taken Investor Awareness Sessions on behalf of the Securities Exchange Board of India at more than 50 organizations!” She has also received the "Mata Sanman - Youth Icon 2023 award" from the Hon’ble Chief Minister and Deputy Chief Minister of Maharashtra!

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People are starving for rigorous financial advice, specifically in a language they understand. Finance influencers create bespoke financial content and news that help brands go where their customers are. They are making their videos in Hindi, and other regional languages also as Tamil, Telugu, Marathi, and Malayalam.

Grynow, the top Influencer marketing agency in India helps finance brands discover the right influencer/s on the basis of their content authenticity, fake followers assessment, target audience, past collaboration analysis, engagement rate etc. It helps them educate and convince the audiences with a data-driven approach, industry trends, customized strategy and storytelling of relatable everyday experiences.

The company has well-executed influencer marketing campaigns for brands like; Kotak Mahindra Bank, Groww, etc.

Why Should FinTech Brands Invest in Influencer Marketing?

Understand Customers Better

"I got my customers all figured out" - this is the most common misconception many brands have. You can do your research, BUT interacting with your audience directly is necessary to know their likes and dislikes in real-time. With the best influencer marketing company, you can bridge the communication gap and facilitate the exchange of feedback and ideas with interactive and user-generated content format videos. As your customers express their pain points and expectations - you can provide value through product changes and improvements.

Access to Gen Z Market

According to Stanley Morgan, almost 80% of smartphones owning Gen-z use mobile banking - with enough interest in traditional transactions. This group also spends more time online and is determined to avoid financial death traps by becoming more financially literate. Online, interested and experienced - there couldn't be a better demographic more receptive to your message that comes through the words of trusted finance Influencers hand-picked by the finance influencer marketing experts. 

Create Humanized Connection

Another vital benefit of using an agency’s verified finance Influencers for promoting your products/services is getting your customers to open up, communicate and rely on your brand. This is possible because finance experts understand your product and how it can provide value to their audience. They express the same through their content as they usually do: by being themselves - Grynow provides creative freedom to influencers i.e. creation of reliable, honest, informative, transparent, confident, and trustworthy content is supported. 

Nurture Credibility and Authority

Admittedly, finance can be a sensitive topic, and it's not easy to sell your consumers on something that involves them spending or investing their hard-earned money. But with Grynow’s verified finfluencers, you can - because your target audience constantly interacts with them - consume everything and grow wiser. There is trust between both parties. Hence, it's easier for people to perceive you as an authority when your brand is introduced by someone they trust.

Now that you know the benefits of Influencer marketing for finance brands it's time to get familiar with different types of finance influencers.

Types of Finance Influencers for Influencer Marketing

Yes, you heard it here, folks!! Grynow has access to a diverse influencer network which also consists of financial Influencers - and they are carefully designated into the following categories -

Personal finance Maestros

Personal finance experts are geniuses who provide advice on managing income, expenses and savings. They show you how to - set a budget, manage money, make intelligent investments (into diverse assets), avoid debt traps, make smarter loan decisions, create a portfolio, take advantage of tax breaks and plan for retirement by saving and investing.

Digital Finance Experts  

The digital payment method breakdown by Statista puts Bank applications, third-party payment applications and unified paying interfaces at 34%, 79% and 38%, respectively. As the financial ecosystem becomes more digital, this group of technology-savvy finance Influencers mitigate the impact of new/upcoming finance technology on the overall functionality of financial institutions and consumer transactions. They also analyze the security risk associated with mobile banking, online transactions and payment systems and act as voices of caution. 

Real Estate Pundits

As you can guess, real estate pundits manage transactions involving buying, selling, renting or developing real estate (homes, factories, skyscrapers, condos etc.). They track real-time trends in the real estate market and advise buyers and sellers on the risks and rewards of real estate assets.

Finance Educators

Financial educators are chartered accountants, economists and bankers who cover essential financial concepts like portfolio management, accounting, stock market, auditing, credit management etc. They are the ones who organize workshops and online courses to improve financial literacy. These financial Influencers have active communities that come together to share feedback and learn with each other.

Business finance specialists

Business finance experts are professional accountants and economists with deep analytic, critical thinking and problem-solving skills. These specialists help you track your company's financial performance, manage cash flow, track company debt, raise capital, invest in long-term assets and set budgets for the upcoming quarter. Business finance specialists also help brand's comply with the latest financial laws and regulations.

Investment Planners

Investment planners are your stock market, mutual fund, SIP, Forex and bonds gurus, renowned for a deep understanding of financial markets and for helping you make more innovative investments and calculate monetary decisions for financial freedom. This finance influencer group tracks real-time market changes and creates educational content. Moreover, investment planners are open to learning and consuming information from multiple sources. They frequently collaborate with other finance Influencers to grow intellectually and provide additional value to their audience.

How Does Influencer Marketing Agency Use Social Media Influencers for Finance Brands?

Sponsored posts

From building awareness to directing conversions, sponsored posts are suitable for every stage of the buyer's journey. Sponsored posts include how-to's, explainers, testimonials and comparison videos or static posts (blogs, infographics, pictures, white papers, case studies etc.) created by a single finance influencer or a group of opinion leaders working together. For instance, Sharan Hegde partnered with Shashank Udupa to provide mutual fund knowledge, and Sharan Hegde collaborated with Raj Shamni for Home loan and Real Estate understanding.

Behind the scenes, an agency like Grynow creates scripts, provides Influencer briefs, and storyboards, facilitates communication, maps content to relevant channels, measures performance and optimizes creatives for better results.

Podcasts

The influencer marketing agency will organize podcast sessions with finance influencers when brands want to generate awareness and get initial leads to their business. Let's say a brand seeks to promote its new mobile payment application. The sponsored podcast episode can start with a finance influencer discussing the key application specialization - foreign exchange, gold or the stock market. The Influencers can then share their experience on how the application's interface streamlines and simplifies the entire process. The brand representative on the podcast can answer questions carefully developed by the agency's strategist to address audience queries. Furthermore, the podcast stays forever and can be repurposed into different formats for other platforms.

Livestream Q&A

When brands want to create a personal connection with customers through lively interactions, livestream question-and-answer sessions are the way to go. That influencer marketing agency recruits finance Influencers and oversees pre-session promotion to ensure maximum attendance. Audiences are encouraged to submit their questions in advance so hosts are well-prepared to answer them. 

Unlike pre-recorded podcasts, brand representatives and influencers get to address viewers and answer questions by taking their names during livestream Q&A. This builds credibility and authority while keeping the audience engaged throughout the session.

Contest and challenges

Contest and Challenges is a creative way of using finance influencers for Influencer marketing where they ask their audience to set aside a portion of their income towards a product of their choice or retirement fund. Other challenges can be diversifying stock market portfolios, repaying debt, finding a passive income source, or acquiring new financial literacy skills. In this type of campaign, people are open to experimenting with different brand products to complete the challenges. For example, using a money management application that tracks every expenditure or sign-up for courses. When done under the guidance of an experienced agency, Contests and challenges create loyal customers.

How Does the Top Influencer Marketing Company Do Influencer Marketing  For Finance and Fintech Brands?

Defining the client's audience

The Influencer marketing agency uses its experience technology and well-defined research steps to know vital parameters about the finance brand's customers. That means their demographic, behavioral, and psychological data like age, gender, location, preferences, online activity, income bracket, goals, motivation, pain points, and expectations. For example, audiences between 18 to 35, motivated to establish a passive income source, are interested in mutual funds and the stock market - but need a legit knowledge source. The agency then compiles the finding into different profiles - cross-referencing them to arrive at a comprehensive buyer persona. 

Vetting Competitors  

The influence marketing agency analyzes your major competition (also the hidden ones) to uncover their strengths, weaknesses, product positioning, features and benefits, unique selling proposition, strategies, audience reception to marketing messages, promotional channels, and service pricing - even how your customers feel about your competitors outside the buyer-seller context. The agency then compares these parameters with the parameters of your brand to find new opportunities to place your business in the competition.

Selecting Relevant Promotional Channels

The criteria for selecting relevant promotional channels for finance influencer marketing differs vastly from other industries. The right platforms should host the intended audience and have reputable finance Influencers. They should align with the latest finance guidelines, regulations, and advertising policies. Many platforms also come with their guidelines when promoting a finance brand. 

The influencer marketing agency vets and selects an ideal promotional channel, a mix of channels, or a combination consisting of main and complementary channels for maximum brand exposure and returns.

Picking Finance Influencers for Influencer Marketing

Finance is a complex subject which also means the one's teaching them should be at the epitome of the niche. But unfortunately, many claim to be experts but are far from it. It's also the other way around, with finance influencers possessing vast knowledge while falling short in the delivery. Hence, the influencer marketing agency utilizes its network to pick opinion leaders who can promote your business through effective word-of-mouth marketing. The agency also considers Influencers' past campaign performances, activities, and public perception to protect your business from negative advertising and legal pitfalls.

Planning, Organizing, Executing, and Measuring Campaign

After finding the right finance Influencers, the influencer marketing agency will provide brief highlighting campaign goals, timeline, expectations, and deliverables to all parties. The agency then identifies KPIs, sets measurement metrics, finalizes content type, format, tone style, and messaging, and maps content on proper channels. Throughout the campaign, Influencers receive guidance and resources to create content that brings results. The agency tracks campaigns in real-time and applies modifications and adjustments to scale performance. The findings are collected and compiled into reports to keep the brands updated and help in faster decision-making.

Campaign Compliance

The influence marketing agency aligns your campaign with the laws and regulations of influencer marketing for the BFSI sector to ensure the safety of brands, influencers, and consumers. These laws differ from country to country - for instance, in India, there is the consumer protection act of 2019, the Advertising standard council of India (ASCI) code, regulations for insurance products stated by the insurance regulatory and development authority of India (IRDAI), and Guidelines by the Reserve Bank of India (RBI). 

Influencers must disclose the content's promotional nature with #Paid partnership, #ad, or #sponsored tags. Moreover, Influencers should know what they are promoting so they don't mislead their audience with false promises. Lastly, content should not contain text, visuals, or audio that forces viewers to take action against their will or undertake harmful activities.

Note: Finance is a sensitive topic. Hence the influencer marketing agency includes special clauses in influencer contracts.