Tina Richtsteiger demonstrates what modern financial communication looks like. As social media manager, she manages the TikTok channel of the consumer portal Finanztip. She is not only behind the camera, but also in front of it. She addresses questions directly, addresses everyday situations related to money, and presents them in a clear, understandable way—and with a good dose of humor.
So-called “finfluencers” like Richtsteiger often reach hundreds of thousands of followers – and thus achieve a greater reach than many traditional media channels.
According to a survey conducted by the German Financial Services Authority (BaFin) among members of Generation Y and Z – people aged 18 to 45 – around 50 percent of respondents have already obtained financial information from finfluencers. "Adults between 18 and 45 are increasingly using social networks to inform themselves about finances," says Kim Wörner of the Berlin-based agency Joli Consulting.
The volume of financial content on social media has increased significantly. On TikTok alone, the number of posts with the hashtag #financialtips has more than tripled in the past two years.
Present complex financial topics in an understandable way
The secret to the success of these digital opinion leaders: "They simplify complex financial topics and make investing more accessible," says Karl im Brahm, CEO of software provider Objectway for the DACH region. On the one hand, he finds it positive that young people are finding their way into the topic through digital channels.
At the same time, however, he warns that many recommendations are not professionally reviewed. Many finfluencers receive financial incentives through sponsorships – often without transparently disclosing them. This raises questions about the objectivity of the content.
Transparency in recommendations is crucial
Brahm's demand is clear: "If a Finfluencer is paid for their recommendations, this must be clearly visible to users." Only then can investors correctly assess the motivation behind a recommendation. The impact of such recommendations demonstrates that this is necessary: 57 percent of users who invested via a Finfluencer link purchased the recommended product directly, according to the BaFin survey.
These figures not only underline the effectiveness of social media formats, but also the enormous potential that social media offers for banks and financial service providers.
Many people feel overwhelmed or uncertain about financial topics. Successful finfluencers address this uncertainty with a target group-oriented approach: "They develop their content from the questions, wishes, and everyday experiences of their community – and present them in a clear and understandable way," says Wörner. This allows them to reach a large audience. This shows how much information behaviour has changed: "People want to be informed – not through dry technical texts, but through content that is entertaining, authentic, and relevant to life."
Financial service providers can learn from finfluencers
Established financial institutions can also learn from these digital communicators: “By collaborating with finfluencers or adapting their communication style, banks and financial companies can significantly expand their reach,” says im Brahm.
At the same time, however, the question of content quality arises: “Trust and credibility are essential – financial content must be well-founded, transparent and compliant with regulations.”
A balanced strategy that combines modern social media formats with in-depth expert knowledge can help reach younger target groups and build long-term customer relationships – without sacrificing professional standards.
"If a Finfluencer is paid for their recommendations, this must be clearly visible to users." –Karl im Brahms, CEO DACH Region at Objectway
Read the original article here.
