Finance influencers on YouTube experienced nearly an 8% average growth rate last year, while all other influencers had less than a 4% average growth rate.
The customer experience platform’s data shows a boom in the popularity and growth of financial influencers on social media between January and August 2022, especially as the cost of living crisis worsens.
This boom may indicate that the public are seeking financial advice from less traditional sources, as trust in government and large institutions is tested, according to research from customer experience firm Emplifi.
Finance influencers published more than five times as many videos on YouTube and gained nearly double the number of subscribers compared to other influencers on the platform, the research indicated.
75% of US marketers were predicted to leverage influencers in their marketing campaigns in 2022, up five percentage points from 2021. And it’s not just mega influencers (over 1M followers) entering brand relationships, as Gartner reported marketers are paying more attention to micro and nano influencers (influencers with 50K or fewer followers).
“For brands in the financial space, our findings underscore the impact the right influencer can have in terms of building deeper connections with consumers and growing the brand’s exposure,” said Zarnaz Arlia, Chief Marketing Officer, Emplifi.
Finance influencers take the lead on YouTube
According to Emplifi’s data, finance influencers on YouTube experienced nearly an 8% median growth rate between January and August 2022 while all other influencers had less than a 4% median growth rate.When looking at median growth by channel size, finance micro-influencers (10K to 50K subscribers) had triple the growth rate of other micro-influencers.
The number of videos published by finance influencers on YouTube was vastly greater than the number of videos published by other influencers. This was true across the board, regardless of account size. Finance micro-influencers posted more than double the number of videos compared to other influencers with the same subscriber numbers.
Between January and August 2022, the median number of videos published by finance influencers with a million or more subscribers quadrupled the number of videos published by other macro-influencers (500K to 1M subscribers).
More importantly, finance influencers received significantly more median video views compared to other influencers every quarter so far this year.
Instagram sees surge in posts published by finance influencers
As with YouTube, finance influencers on Instagram are experiencing tremendous growth compared to other influencers on the platform, with median growth rates considerably higher for finance influencers compared to influencers outside of the financial space. This is true across all influencer account sizes.
Instagram finance influencers are also publishing more than double the number of posts other influencers are publishing on the platform. Finance influencers with a million or more followers are publishing as much as three to four-times the number of posts as other influencers with the same number of followers.
While finance influencers are posting considerably more content than other influencers on Instagram, non-finance influencers garnered more median post interactions than finance influencers every quarter so far this year.