You may be wondering, as a financial service company, advisor or law firm, if influencer marketing is right for your business. The answer is probably yes! Influencer marketing can help you reach a larger audience and build trust with potential customers.
What is Influencer Marketing?
Influencer marketing is a type of marketing that utilizes key people that have collected a following on Social Media to drive your name and message to a larger market. Rather than targeting a large group of people directly, you focus on utilizing those with influence over potential customers. These are people who already established a relationship with your target audience and have gained their trust. They may be celebrities, well-known personalities, or experts in their field.
Why Work With Influencers?
The main reason why financial service companies should leverage influencers is because it allows them to boost exposure for their services without spending money on traditional advertising methods. By associating with influencers, they can promote their products or services through content that resonates with their target audience and create more trust for potential customers. This will ultimately lead to an increase in sales and profits for the company.
How To Leverage Influencers?
In order to make sure you get the most out of your influencer relationships, there are a 4 basic steps to keep in mind when leveraging influencers
1. Make sure you choose influencers who align with your brand values: If you're a business offering financial services, your potential clients will be looking for more than just someone to handle their finances - they will be looking for a trustworthy brand that aligns with their values too. Choosing an influencer whose own views are in line with those of your business can help underpin the positive reputation of your offering and reinforce the need for such services. Doing so helps build up trust with potential customers, which can have a huge impact on conversions and making sure that sales reach their full potential.
2. Create engaging content that resonates with your target audience: Creating content that resonates with your target audience is key. One of the most important elements to achieving this is by having an accurate understanding of who exactly your target audience is, and what their needs are. Knowing these two crucial factors can help guide the type of content you create for them; whether it be using email communications or leveraging social media platforms to reach a broader audience.
3. Monitor your campaigns closely: Implementing testing regularly to measure the results of your messages and campaigns can also bring valuable insights that will help ensure they are engaging with your offering. You should monitor these campaigns closely and use analytics to assess which ones have been successful in getting through to your target audience, and which ones need tweaking to maximize engagement, and measure results so you know what’s working and what isn’t.
4. Be aware of any regulations regarding endorsements by influencers so you don't run into any legal trouble down the line. Understand FTC Disclosure Guidelines (US only) It’s important to be aware of the Federal Trade Commission’s (FTC) disclosure guidelines when working with influencers as failure to do so could result in legal penalties or fines for both parties involved. The FTC requires that any paid endorsements must be disclosed at the beginning of each post, video, or other type of content created by the influencer on behalf of the financial services company being promoted. This disclosure should clearly state that there has been some form of compensation provided in exchange for their endorsement so that viewers are aware before engaging with the content.
Leveraging influencers has become an increasingly popular option for businesses looking to grow their customer base and increase revenues quickly and efficiently. Financial service companies can use influencer marketing as an effective way to spread awareness about their products or services while creating trust among potential customers at the same time—a win-win situation! With careful planning, monitoring, and measuring along the way, financial service companies can easily reap the benefits of partnering with influential people in their niche market!
Oh! And remember thet Bauslabs is where GROWTH meets Marketing, so if you have any questions or need a marketing partner to grow your business, get in touch!