Influencer marketing is becoming a need-to-have for payment brands’ marketing teams. While not without risks, it’s key to building awareness and creating relationships with young consumers.
Influencer marketing has arrived in the payments world with the rise of “finfluencers.” A survey of 1,207 US social media users revealed that while content creators can effectively build awareness of payment products and services among consumers, converting them into customers isn’t as easy.
Key Question: How should payment providers use influencers for their marketing strategies?
Key Stat: Around 80% of US social media users have seen someone reviewing or recommending financial products on social media, per a March 2024 survey. That widespread reach highlights how payment providers can use influencers to raise awareness of their brand.
Key Report Features:
- 2 Files: Exportable files for easy reading, analysis and sharing.
- 3 Charts: Reliable data in simple displays for presentations and quick decision making.
Table of Contents
- Executive Summary
- Payment brands need to take influencer marketing seriously
- Payments influencer marketing is more effective at raising awareness than boosting conversion
- What does it mean for payment marketers?
- Methodology
- Sources
- Media Gallery
Charts
- Financial Products US Social Media Users Have Seen Someone Reviewing/Recommending on Social Media Platforms, March 2024 (% of respondents)
- Product Categories US Social Media Users Have Purchased Because of Content From a Creator/Influencer, March 2024 (% of respondents)
- Platforms Used by US Marketers for Influencer Marketing, 2024 (% of marketers who use influencer marketing)
