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Studies show that Australian female millennials are looking to “influential people” for financial freedom

A study by influencer marketing platform Hype Auditor found that millennial women are driving the Australian “finfluencer” trend.

A finfluencer is an influencer who shares financial information and expertise on social media. Marketing has addressed this trend in a recent article, Advantages and Disadvantages of Influencer Marketing in Financial Services..

Survey investigated Using hashtags such as #moneytok, #stocktok, #fintok, #finance, and #investing, we found that less than 1% of all Australian influencers are finfluencers. However, this small group has proven to be very influential, especially for brands that want to invest in sponsored content and engage with the commercial-minded millennials. On TikTok, #moneytok has been viewed over 3.8 million times and #stocktok has been viewed over 361 million times.

Both influencers themselves and their audience are biased towards female millennials. 34% of influencers are women aged 25-34, but only 16% are men of the same age group. On the other hand, if you look at influencers aged 35-44, the balance changes. Of these, 25% are male and only 9% are female.

The most popular influencers with reach and popularity are:

Alex Frolov, CEO and co-founder of HypeAuditor believes that finfluencers seem to be intervening in the information traditionally provided. A financial institution or a more established company.

“It’s interesting to see this move driven primarily by millennials. It makes important life decisions, buys the first home, and invests in stocks for the first time. Reflects the ongoing tendency to look and trust online information and sources as they pass major milestones such as, or reassess the best retirement annuity options. ” Mr. says.

“With the rise of financials, consumers and brands need to be careful in translating online content into actionable financial advice, although many Australian financials have a strong financial background. , Not all are eligible to provide financial advice. “

“… As more influencers emerge, brands need to be vigilant in deciding which most relevant and reliable influencers to partner with, and consumers analyze financial advice. You need to pay attention to. “

Photo courtesy Magnet.me on Release the splash..



Studies show that Australian female millennials are looking to “influential people” for financial freedom

Source link Studies show that Australian female millennials are looking to “influential people” for financial freedom

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