The rise of finfluencers in recent times, has given an opportunity for brands to reap benefits out of their knowledge, and command over all things financial. They are the go-to people that help any brand expand its reach within audiences and the audience too benefits a great deal from them.
According to a report, 92 percent of consumers trust recommendations from others, even people they do not know, over branded content. And today, finfluencers are not just selling mortgages or loans, but making peoples’ lives better.
Here’s a look at why brands are increasingly relying on finfluencers and why finfluencers are becoming a great choice for brand endorsements.
1. Value Addition
Many of today’s influencers started their careers by being ardent consumers of products from a specific industry. They have a good amount of knowledge about that industry. And in the process of becoming an influencer, they’ve learned even more. They have valuable information on how consumers see and shop for specific products and services. It is this knowledge, that adds value and prominence to a brand.
2. Their Reach
Finfluencers are not just people who can talk on any financial subject, but also have a connect with the audiences. People resort to their advice and often make decisions considering inputs given by them. While endorsing any product, a detailed description and recommendation by finfluencers can raise sales by a considerable margin.
3. Evolving needs of the customer
Customers have evolved over all these years. They prefer more relatable, and real knowledge, than just advertisements and influencers do a great job, as they are real people sharing real experiences. Influencers know how to prepare their audience and get key messages in front of their target customers. The most successful of them have found a specific, niche audience, and they communicate with them in order to encourage them to take action.
4. Influence purchase and encourage conversations
With people spending more time on social media and the Internet, trading, negotiating, dealing etc. all is happening online. And influencers are not just driving product discovery but are prompting conversions too. They are more likely to suggest or tell their audiences to go out and purchase or try a product. The combination of that influence and credibility with the purchasing power of the audience, takes success chances, notches higher. With many brands roping in finfluencers for different products, they have become a trusted source of knowledge and are here to stay.