- Soared up the reach of campaign to 2X from initial plan and brought down the CPV by 50% of Industry Benchmark while achieving 130% higher views than expected!
BFSI
Banking on Influence
Here are some insights on the BFSI industry, major challenges the industry is facing, how Influencer Marketing helps overcome them, and Kofluence’s experience working with pioneers in the industry.
BFSI (Banking, Financial Services, and Insurance) industry encompasses a wide range of companies and organizations that provide financial services to customers. This includes banks, credit card companies, investment firms, insurance companies, and other organizations that manage and invest money.
Plan and Measure An Effective Influencer Marketing Strategy For BFSI
Influencer marketing for BFSI (Banking, Financial Services, and Insurance) is a powerful tool in industry to reach and engage with their target audience. However, without a well-planned and executed strategy, influencer marketing efforts can fall short of their potential.
Here are some key steps to help plan and measure an effective influencer marketing strategy for the BFSI industry:
Define your goals and target audience
Clearly define what you want to achieve with your influencer marketing campaign, and identify your target audience. This will help you choose the right influencers and create content that resonates with your target audience.
Research and select influencers
Research and identify influencers who are a good fit for your brand and target audience. Look for influencers with a large and engaged following, and whose content aligns with your brand message.
Develop a content plan
Create a content plan that outlines the type of content you want to your influencers to create, and how it will be used to achieve your campaign goals. This can include blog posts, social media posts, videos, and much more.
Measure and evaluate your campaign
Use metrics such as engagement rates, reach, and conversions to measure the effectiveness of your influencer marketing campaign. This will help you identify what is working well and what areas need improvement.
Continuously optimize
Keep an eye on the performance of your campaign and optimize it as needed. This may involve adjusting your content strategy, choosing different influencers, or making other changes to improve performance.
The Major Challenges in BFSI Industry and
How Influencer Marketing Helps To Overcome These?
The BFSI (Banking, Financial Services, and Insurance) industry faces a number of challenges that can make it difficult to connect with and engage with customers. Some of the major challenges in the BFSI industry include:
Gaining Trust and Credibility
Customers are surrounded by many financial products and services and choosing one to trust must be difficult. Building a safe and trustworthy environment for the audience is essential for the BFSI industry to attract and retain customers. Influencers have a large and engaged following, and their endorsement can help build trust and credibility for a brand.
Keeping up with Changing Regulations
The BFSI industry is heavily regulated, and keeping up with changes in regulations can be a major challenge. This makes it challenging for companies to stay compliant and preserve their reputation in the industry. Influencer marketing allows companies to stay compliant with regulations by providing transparency and making sure that influencers disclose any sponsored content.
Staying Competitive in a Digital Age
The BFSI industry is facing increased competition from fintech companies and digital-first banks that are leveraging technology to provide customers with new and innovative products and services. Influencer marketing can help companies stay competitive by leveraging the latest trends and technologies, such as social media and video content, to reach and engage with customers.
How to get benefits from influencer marketing in BFSI industry
The banking, financial services, and insurance (BFSI) industry can benefit from influencer marketing in several ways
Increase brand awareness
Influencers have a large following on social media platforms, and by partnering with them, BFSI companies can reach a wider audience and increase brand awareness.
Build trust and credibility
Influencers are considered experts in their field, and by working with them, BFSI companies can establish credibility and build trust with their target audience.
Generate leads
Influencers can help BFSI companies to generate leads by promoting their products and services to their followers.
Drive sales
By leveraging the influence of influencers, BFSI companies can increase the chances of driving sales and closing deals.
Target specific niches
BFSI companies can target specific niches by partnering with influencers who have a strong following in that niche. For example, a financial advisor can partner with a personal finance influencer to target the personal finance niche.
Provide valuable insights
Influencers can provide valuable insights on consumer preferences and market trends, which can help BFSI companies to improve their products and services.
Stand out from competitors
By working with influencers, BFSI companies can differentiate themselves from competitors and stand out in the market.
How does our Influencer platform help in BFSI?
Kofluence closely worked with India’s leading BSFI brands
- #GoodToGo campaign garnered an exceptional 8% engagement, and a resounding 80% of organic positive comments within a week!
2M+
Reach
3M+
Impressions
250K
Engagement
- Contributed in an impressive reach of 11 million+ and helped amplify TVC content through influencers driving high engagement and organic sales!
11M+
Reach
13M+
Impressions
900K+
Engagement
- 400+ organic clicks were redirected to the brand’s connection subscription. Campaign content attracted 93% positive comments aiding in 200K engagement
1.6M+
Views
890K
Impressions
1.53%
Engagement
- Ultraviolette took the internet by storm by launching the F77 Space Edition with limited units that were sold out in less than 2 minutes while the Twitter campaign garnered over 4M impressions in just 4 hours!
- This Twitter campaign was Trending at #1 with hashtags #SpaceBoundF77 and #F77SpaceEdition, even beating the Asia Cup India team squad announcement with 3500+ influencer retweet amplification.
4H
Trending Time
4M+
Impressions
3500+
Content
- By collaborating with 5000+ nano influencers, we not only generated engaging content around Dabur’s jingle but also achieved an impressive 123% higher CPM than the industry benchmark, effectively promoting not one, but two Dabur products : Dabur Vedic Tea and Dabur Honey!
8M+
Views
900k
Engagement
5000+
Content
- Drove huge engagement for Meesho’s 2023 signature campaigns #MeeshoPeHaiSabKuch and #HayeGarmi campaigns garnering a reach of 30M+ with under 20 creators and in just 2 weeks.
700+
Content
353K+
Engagment
50M+
Views
- Through an iconic revival of Sunny Deol’s & popular late actor, Puneeth Raj Kumar, Kofluence helped Dunzo launched an ad campaign #TareekhPeTareekhChallenge garnering millions of views.
- We went live with 1000+ content and garnered a remarkable 9.3% engagement and 10M impressions.
6M
Views
10M
Impressions
1K+
Content
- Kofluence and Flipkart came together to create #The25thHour campaign which generated intrigue with the question “What would you do if you had an extra hour in a day?”
- We divided the campaign over two phases, one intended to increase intrigue and the other to focus on the ‘Galanz’ product launch
- Unique UGC style content coupled with celeb involvement propelled the campaign, garnering over 15M Impressions.
300+
Creators
15M
Impressions
12.6M
Reach
- PharmEasy, India’s growing online pharmaceutical and healthcare service provider trusted Kofluence to amplify their marketing message of “Quick delivery made easy with PharmEasy”.
- We leveraged a winning combo of 30+ handpicked YouTube & Instagram content creators for this campaign.
- Our campaign catered to a high number of organic app installs for the brand.
7M
Views
39
Content
2.5K+
Installs
- Contributed in 33K+ app downloads and 10K+ new user acquisitions for Swiggy Instamart, shooting their engagement rate from 2% to 8% over a span of just 6 months!
2500+
Content
55M+
Views
900K
Engagement
- Kofluence is AI-powered Ad-Tech Influencer Marketing marketplace, having delivered over 3000+ creator-generated content around all major festivities and product launch campaigns!
3000+
Content
50M+
Views
50M+
Impressions
Mirae Asset joined hands with Kofluence to amplify the newest addition to their product portfolio – mStock, with the aim of driving brand awareness and account openings on their platform
- To begin with, we leveraged core finance channels active on YouTube with a subscriber base of 100k+, to talk about the product features.
- We then activated Twitter Influencers, with an average follower base of 50k+, to throw light on their personal experience with the platform
- The campaign helped mStock gain significant traction among target audiences, resulting in a 10X increase in their overall app downloads
25+
Creators
0.5M+
Views
30K+
Likes
- Star Health Insurance seeked our infleuncer expertise in running their campaign #GiftStarHealth keeping reach and awareness as their objectives.
- The campaign was run during Diwali and New Year season and garnered a total of 14.5 million views which is 100% more than the proposed view count.
- This Kofluence facilitated campaign pulled in great traction while providing 2X ROI for the brand through better reach.
14.5M+
Views
10K+
Engagment
1000+
Leads
- One of India’s top luxury ethnic wear brands, Koskii partnered with Kofluence for increasing brand awareness over social media.
- We went live with 60 creators uploading reels doing the hookstep of a trending reel audio wearing iconic outfits from Koskii.
- The campaign garnered 6% engagement and 75% positive comments.
60
Content
0.76M
Impressions
6%
Engagement
- Kofluence teamed up with Games24x7 and helped RummyCircle establish influencer marketing as an integral part of their marketing strategy towards both brand awareness and lead generation.
- With the help of the onboarded content creators, the team was able to get a significant amount of acquisitions and reduce the CPA considerably.
- The content went live across 18 states with 1000 creators.
1000+
Creators
100M+
Views
7000
Opt-ins
- Hero MotoCorp wanted to explore influencer collaborations with Kofluence for better marketing penetration and signups.
- We crafted launch campaigns and test ride events to provide potential customers with an opportunity to experience the brand’s products in person.
- Successfully ran campaigns like #DirtBikeChallenge and #BoomWaliFeeling which generated over 45M reach.
- We deployed every category of creators from Nano to Mega, and drove maximum engagement both online and offline for Experience centre Test Drive events.
10+
Content
45M+
Reach
15K+
Registration
- Sugar Cosmetics wanted to launch their first-ever product collaboration with an exclusive Wonder Women range for women’s day campaign #EveryWomanIsAWonderWoman
- We activated 7,000+ Influencers for SUGAR Cosmetics with each of them spreading the message of women empowerment.
- The campaign’s contents achieved a great Comment to Like ratio of 8%
- Every creator shared inspiring stories & tagged 3 wonder women in their life to support the campaign’s messaging.
7K+
Creators
28M
Imppressions
11%
Engagement
- Revital H partnered with Kofluence for Medtech influencer marketing aiming at creating brand awareness and driving conversion.
- Their multivitamin product was promoted by 28 influencers across YouTube
- Creators went live across 12 states with 7 content formats and generated good reach for the product impacting positIvely on sales.
28
Content
3.4M
Views
200K
Engagement
INDmoney sought influencer expertise, tasking the team with maximizing their app install volumes, promoting users to log in as the 1st touchpoint and ultimately acquiring quality customers to invest in US stocks through their platform.
- The influencer marketing campaign activated 100+ creators across several tier 1 and metro cities, with a mix of different regional languages for a diversified impact.
- The outcome of the influencer marketing approach was that INDmoney could scale up their app registrations from 5% in month 1 to 30% in month 4. With 38M views on the 180+ content that went live, the brand could successfully bag 100K+ registrations through the campaign.
180+
Content
38M+
Views
100K+
Registrations
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Check out our partnered Industries !
Start Up
Building brand authenticity in a startup can be challenging, but influencer marketing can be an effective tool to help achieve this goal. Partnering with influencers who have a large following can help small businesses increase their brand visibility.
BFSI
Influencer promotion of BFSI products and services can help BFSI companies generate leads through social media. Influencers have a strong influence on their followers, who are often interested in the products and services they endorse.
Luxury
Social media influencers can help luxury brands increase engagement with their target audience through two-way communication and customer feedback and spread their brand message in an authentic way.
Gaming Influencers
Gaming brands can use influencer-generated content on their social media campaigns to reach a wider audience and build trust with potential customers. This content could include influencer reviews, gameplay videos, and social media posts.
Automotive
Influencers often have a specific niche or focus, such as car enthusiasts or gearheads, which makes it easy for automotive brands to increase the chances of conversions and sales, as the audience is already interested in the topic.
Real Estate
Even the best real estate projects cannot make sufficient sales without a solid marketing strategy. Collaborating with influencers on social media platforms, whose opinions can influence your target audience, make word-of-mouth marketing easier.
MedTech
With something as critical as health, credibility plays the bigger game. Influencers, who have earned their audiences’ trust, come across as more trustworthy than even the most polished messaging from healthcare brands.
D2C
Influencer marketing has emerged as a powerful tool for D2C brands to reach their target audience and increase their return on investment (ROI) by collaborating with influencers who create engaging content for the audience.
Fintech
Influencer marketing is a powerful tool in the Fintech industry because it brings trust and authenticity to the marketing campaign. This is especially important when it comes to convincing people to invest their hard-earned money in a new Fintech application.
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