Fin-Fluencers

What are they and what is the point of them?

Scroll through Instagram and you will come across an account promoting a particular product. Dubbed as an Influencer, these accounts boast a five to seven figure following and have become the 21st Century version of a door-to-door salesman, voluntarily entering your home with your permission, whether you realise it or not.

Their selling technique is simple: bright faced and bubbly, and very complimentary of the product they have been paid to endorse. That’s not to say that they aren’t telling the truth by any means, but rather they have been paid to do so.

In the last few years, the way these products are promoted has become more transparent, meaning you will know when an Influencer has been paid to praise the product. They are normally marked with the words AD or AFFILIATE LINK. While most products stay in the realms of health and wellness, or fashion, there has been an increase of Fin-Fluencers joining the scene.

influencer

What is a Fin-Fluencer?

A Fin-Fluencer is a branch of Influencer who is paid by finance companies to promote their product and brand.

The account may be your standard Influencer, or they may have a finance-wellness account where they talk to others about savvy ways to save money and be financially secure. Essentially, these household faces have become the next must-have marketing tool.

Pros and cons of using a Fin-Fluencer

There are a few benefits of using a Fin-Fluencer to market your product, in particular reaching a new demographic. While your product may be targeted towards a new audience, individuals who have never heard of you, there are certain limits to this. It is unlikely that your Fin-Fluencer will be attracting the attention of an investor or someone who can afford to part with a large sum of money. Given this, we can see why it is popular for these Fin-Fluencers to promote small products such as wallets and currency cards.