02 Dec How 2020 made consumers prioritise their financial wellness
January is prime time for new years resolutions and a month many of us focus on wellness. That includes healthier eating, healthier routines – and increasingly – healthier finances.
Thanks to the positive impact a healthy bank balance can have on your overall health, the sector has been edging into the world of wellness and self care in recent years. But COVID-19 has brought this into sharper focus.
We’ve seen unemployment rates rise and job security fall in 2020. Small businesses struggled with restrictions and many felt the need to protect themselves against financial uncertainty. It’s against that backdrop that consumers will be facing the new year and setting their financial goals.
So, what is financial wellness?
It refers to how healthy your finances are, along with how you manage daily expenses, budget your income and prepare yourself for a rainy day.
Financial fitness also falls under this umbrella, which is the concept of setting goals, managing debt, saving for emergencies and leaving enough to treat yo’ self every once in a while.
Who’s on board?
Gen Z are pretty woke when it coms to their financial wellness. According to Afterpay, Gen Zers are among the most financially savvy people in the US. These young consumers tend to take control of their finances as young as 13 – that’s earlier than any generation before them.
Since Gen Z are also the most active and impressionable users on social media, lots of banks and other financial services have been using social content and influencer marketing to connect with them.
Content creators are small businesses themselves, who need to be on top of their in-goings and out-goings. So their trustworthy recommendations make for authentic and relatable content, not just for Gen Z, but any social user looking to get their financial wellness in check for the new year.
Vamp connected SingSaver and Finder to their invite-only community of creators for these effective campaigns.
Converting low-cost clicks for SingSaver Singapore
Objectives: SingSaver wanted to raise awareness of their free Allianz Online Banking Protection Insurance coverage and foster engagement with potential customers that would lead to online sales.
Strategy: The personal finance site partnered with lifestyle-based Vamp creators to generate brand-led content for a two-phase campaign. Organic influencer content was created to raise awareness of the insurance coverage, then boosting was incorporated to foster engagements and encourage link clicks.
- 310,197 impressions
- 1,159 link clicks
- $1.73 SGD CPC (3x cheaper than the industry average)
Driving above industry-average engagements for Finder AU
Objectives: Finder partnered with Vamp to increase awareness of the app’s features, which helps people save money in everyday life. The campaign also aimed to drive app downloads.
Strategy: Lifestyle and family-focused Vamp influencers collaborated with Finder on this two-phase campaign, where they created beautiful content that showcased how they use the Finder app to help them save money in their day-to-day life.
The content was relevant to creators’ personal saving goals in order to remain authentic with their audiences. This content was then boosted to increase awareness and drive app downloads.
- 297,931 impressions
- 34.4% paid media engagement rate (26.2x industry average)
- $0.17 cost per engagement