BFSI And Fintech Brands Unlock The Potential Of Bharat With ShareChat
Access to affordable smartphones and the internet has revolutionised how people exchange and invest money. Reserve Bank of India’s Payments Vision 2025* lists encouraging citizens to go mobile-first for banking as a goal. Total digital payments in the country were found to have increased by 216% in volume and 10% in value for the month of March 2022, when compared to March 2019. The RBI is working towards making this shift irreversible.
The ripples of change for banking and investments have spread across Bharat, making it cautiously optimistic about new-age investment opportunities. Unravelling Bharat’s banking and investment behaviour, a recent ShareChat survey indicates that Bharat is now looking forward to further diversifying its portfolio with mutual funds and equities while continuing to invest in fixed deposits and insurance.
These trends make Bharat a must-have for BFSI & fintech brands to include in their growth strategies.
Pillars of an effective Bharat-first strategy
While Bharat is looking for investment opportunities, it is imperative for BFSI and fintech brands to meet them halfway with relevant information. ShareChat brings you a list of things BFSI and fintech brands should remember while working on a Bharat-centric marketing strategy this year.
Tap into Bharat’s investment ambitions
Bharat is a diverse group of investors. While 50% are high-risk takers, 40% seek safe investments. The age groups within this demographic show distinct behaviours depending on their preferences, priorities and life goals. Tailoring their communication in sync with Bharat’s intent and reason to invest will aid BFSI & fintech brands in building effective strategies.
Be Bharat’s source of information via social media
Social media is Bharat's top source of information about investments, even ahead of product websites. By continuously leveraging social media, brands can undeniably create awareness and drive consideration for their products. Indic-language content can aid brands in driving higher comprehension and reliability, converting interest and intrigue into purchase intent.
Facilitate Bharat in making informed investment
Bharat seeks assurance about a good return on investment before deciding where to put their hard-earned money. Brands should work towards creating favourable word-of-mouth and social media narratives about their products to win over Bharat. Influencers, with their authentic reach and an excellent grasp of Bharat's likes and dislikes in content, are crucial to the success of a strategy.
Tapping into Bharat with the best of ShareChat
With 180+ Mn monthly active users who love to consume and create content in the Indic languages of their choice, ShareChat is well positioned to aid brands with insights to develop Bharat-first strategies. Here are some winning ad solutions that can help BFSI & fintech brands reach Bharat effectively this year.
With 1 in 3 in Bharat planning to invest in Q1 2023, BFSI and fintech brands have their work cut out for them. They must tap into the investment potential of Bharat, especially when 2 in 5 in Bharat are planning to invest more than Rs 50,000. Partnering with the correct platforms will facilitate them in accessing exclusive insights and creating impactful campaigns to reach relevant Bharat audiences.