This article and several others about the BFSI sector in India report a 31% YoY growth trajectory, and highlights that financial institutions face challenges such as changing and stringent industry regulations, tough competition, volatile market dynamics, increased operational expenses and other hurdles that make it tricky to stay on course towards better numbers.
This highlights an opportunity for influencer marketing platforms to step in and give businesses in this sector a much needed push. Not many influencer marketing agencies or platforms will step up to the challenge. But do you see the potential here?
Admittedly, even we concede that influencer marketing campaigns are tougher to execute for the BFSI sector. There are so many hoops to jump while forming an influencer marketing strategy:
- Being mindful of the fine print in terms and conditions
- Industry regulations
- Finding the right influencers, rather, “finfluencers”
- Keeping it all within the budget, considering influencers in general charge astronomical fees
- Executing the project holding influencers to the highest standards
- Scaling the project responsibly
Our experience has been that as tricky as it is to get conversions and boost brand awareness for brands in the BFSI sector, it CAN be done.
For our partnerships with IDFC First, BankBazaar, Jupiter, Tata Neu Personal Loans and a few other leaders in this segment , we tapped into our learnings from our strong BFSI portfolio. Three major insights shaped our strategy:
- Beyond metros, T1 and T2 cities possess a need for credit for various reasons, but are not exposed to user-friendly options.
- T1 and T2 based audiences may not be high on credit score, and this does not suit Finance clients.
- Influencer selection absolutely must include regional influencers too, who can convey the message in the language, dialect and style that appeals to their niche audience.
It's about time influencer marketing fearlessly penetrated into every imaginable sector, and we are here for it. Learn the rules of the game and then be in it, to win it.
Are you with us?
Our data driven approach, Machine Learning technology, vast experience of delivering results on the CPA method across segments, to leading brands in the industry gives us an edge over any other influencer marketing agency.
Also read: How to break brand fatigue using Influencer Marketing
Don't miss out on the DRIM edge for performance marketing with influencers while your competitors get way ahead of you. Macro influencers, micro influencers, nano influencers - all vetted for pure performance - We have got the best!
Write to us at [email protected] to discuss how our influencer led performance marketing campaigns can help you smash your business goals.