[Report] Indian BFSI brands on Instagram – Part II

After strolling through and scrutinizing content marketing strategies of BFSI brands on Instagram, we went up a notch by bringing in experts to provide unfathomable insights on this flourishing collaboration.

Considering the traits of BFSI, it is vital for the brand to keep their content effortless to decode for a vast target audience of varied strata they’re catering to. As Ipsita Tripathy, Axix Bank pointed out, Instagram has designed its algorithm which makes engaging content pop on the timeline, this indicates how brands need to work twice as hard to ensure discoverability.

It depends upon the services offered by the brand; content pegs will vary from a bank to a credit card platform to an insurer. The brand needs to keep in mind is what its consumers are talking about on Instagram as a platform and devise communication keeping that in mind.

“Instagram is a visual storytelling medium, so please do not adapt the GDN banners as Instagram posts. That will never work,” added Tripathy.

Any content posted on Instagram has to be very visually appealing. The types of content hooks can include motivational/inspirational quotes, greetings on occasions, tying-in products with popular hashtags, tying-in generic content with offerings. Basically, it is essential to subtly link banking & finance with topics that have mass appeal in an aesthetic manner.

“Making a hard-sell is the biggest mistake that you can do on this platform. Similarly, posting content that is visually unappealing is an absolute no,” exclaimed Aditya Sharma, Bajaj Alliance.

BFSI players need to communicate the lifestyle one would lead if they chose their product and not the product itself. This may be hard to digest but is definitely a conversation starter on Instagram exclaimed Sameer Roopawalla, KRDS.

Looking ahead

“Brands are also exploring Instagram for acquisitions, which is at quite a nascent stage today. But look at how engaged an Instagram audience is vis-a-vis that on Twitter for instance; they actually stop to savor the visual, the story, and that attention span is the potential that brands need to unlock and leverage,” Achal Deoda shared.

Many brands have started using Instagram for performance marketing. This is a great way to sell to a premium audience.

Instagram marketing itself is flourishing as a venture and with BFSI entering the space it sure has become an interesting terrain. For a little push, these experts have some tips for the marketers in this area.