DELHI: Social media is being overestimated as a marketing tool, especially for the fintech sector in India, revealed SEMrush head of communications Fernando Angulo during the unveiling of the ‘Top Insights into Fintech Industry of India’ in New Delhi last week.
Angulo told Indinatelevision.com that while brands from the fintech sector are using social media for marketing, less than 10 per cent of the traffic on their website is driven by organic social media reach. He insisted that paid posts on social media might work better, but even the share of traffic generated by paid campaigns across digital platforms is less than 10 per cent.
“Fintech brands on social media can benefit from paid campaigns more than by organic posts because of the algorithm on Facebook and Instagram. They can also invest in influencer marketing,” he said.
The report also revealed that Facebook and YouTube are the prime platforms to drive traffic to fintech companies apps and websites, followed by LinkedIn, Twitter, and Instagram.
Angulo also shared that it is important for fintech companies to create a brand image and win consumer trust to succeed as direct search traffic is most important for their discovery online.
The report also highlighted the top 3 leading domains by web traffic, based on traffic generated in the last 12 months. Billdesk.com led the roost with around 440 million visitors, followed by Paytm that recorded a little over 390 million visitors. Most popular searches online included SBI online banking, SBI online net banking, Standard Chartered online banking, and SBI online personal banking, respectively.
The report collated by Boston-based SEMrush was created based on an in-depth analysis of the Indian fintech industry, purely driven by data collected over the last four years. The report also showcased the popularity of Cryptocurrencies and Bitcoin among major cities in India especially with growing penetration in tier two cities in Uttar Pradesh, West Bengal etc, along with highlighting the search trends in the industry.
