Chartered accountants, investment bankers and even stockbrokers are turning to Instagram and YouTube to accelerate their careers in finance. Thanks to Millennials and Gen Z audiences turning to these platforms for quick tips and tricks on taxes, saving, and growing money, “financial influencers” are making more money than ever with content about money matters.
Depending on their number of followers, engagements and of course content quality, these financial influencers, commonly known as “finfluencers”, earn between Rs 50,000 to over Rs 5 lakh for a post. A popular influencer publishes at least two brand posts per month.
Experts say influencers in the category with followers between 50,000 and 60,000 get Rs 1 lakh per post, followed by those with half a million followers who charge around Rs 2 lakh per post. Influencers who have crossed the million mark get Rs5 lakh and more for a single post.
The price is more or less the same for Instagram and Youtube. Some popular faces have their own pay scales, however.
In a chat with Storyboard18 in the past, Rachana Ranade, whose YouTube channel has 3.39 million subscribers, explained how she charges brands for content creation. She mentioned working on two popular formats which are embedded videos and dedicated videos. The charges for the same are Rs 6 lakh and Rs 12 lakh, respectively.
Ranade is not alone. Sharan Hegde, Pranjal Kamra, Anushka Rathod, Neha Nagar and Shreyaa Kapoor are some of the popular names in the category.
The popularity of these influencers made their twenties financially strong, says Ayush Shukla, founder of talent management agency Finnet Media, who also manages famed financial content creator Sharan Hegde. “They teach younger people how to grow their money and the financial education has gone beyond stock market advice. From planning a vacation to buying your first car, finfluencers have solutions for everything. This in turn makes them popular among brands that operate in the industry,” he said.
Stock brokerage platforms, BNPL (buy now pay later) brands, banks, NBFCs, wealth management firms and mutual fund apps are increasingly turning to these finfluencers to market their products. and services. Brands like Motilal Oswal, Cleartax, ICICI Bank, Uni Cards, Navi Group, PolicyBazaar, Groww, CoinSwitch Kuber and many other brands use finfluencers for best funnel campaigns.
Mihir Surana, CEO and partner at talent management agency NOFILTR Group, says the world of digital finance is growing with the buzz around NFTs, crypto or even the new tax saving scheme and that Generation Z quickly got into it.
At one time consumers read in-depth articles with complex financial terms, today they rely on financial influencers breaking them down into a format that most people can understand.
“This trend started during the pandemic and it is going to go in an upward direction as many finance influencers turn to this way to make profits with their knowledge. It also helps them attract many fintech brands to work with them to sell their products and services. Financial influencers have a very bright future ahead of them,” says Surana.
He leaves us with an interesting thought: “I believe that one day they will offer their own financial product where money management would be easier.”
. influencers finance alias scholarships Finfluencers inflate measure demand content increase