Why General News Dailies are Crucial for Fintech Marketing in India
Nitin Bansal
General Manager & Branch Head at Lokmat Media | IIM Alumni | Strategic Advertising Leader | Driving Innovation & Growth across Multi-Channel campaigns | Expert in Data-Driven Results & Client-Centric Solutions
In the rapidly evolving Fintech landscape in India, targeting the right audience with precise messaging is paramount. While advertising in business dailies is effective, an often-overlooked avenue is general news dailies. Here's why they should not be underestimated:
Reaching the Right Audience -
Audience Demographics:
General news dailies have a broad readership that includes a significant portion of the financially active population. According to the Indian Readership Survey (IRS) 2022, 60% of daily newspaper readers actively engage with financial products and services like credit cards, UPI payments, stocks, and Demat trading. These readers, while not exclusively from the business domain, are potential users of Fintech services.
Financial Literacy and Inclusion:
General dailies often cover financial literacy topics, providing valuable information to a wide audience, including those interested in improving their financial knowledge. This is crucial for Fintech companies aiming to promote their services to a broader demographic.
Data Insights
Engagement Rates:
A study by KPMG India in 2023 found that ads in general news dailies have a 25% higher engagement rate compared to business dailies. This is attributed to the diverse content that keeps readers engaged longer, making them more likely to notice and interact with advertisements.
Trust and Credibility:
General news dailies are often viewed as more neutral and trustworthy. The Edelman Trust Barometer 2023 indicates that 60% of the Indian public trusts general news sources over specialized business news, making your Fintech brand more credible when advertised in these outlets.
Case Studies and Success Stories
Case Study - Paytm:
Paytm's 2022 campaign in general news dailies resulted in a 20% increase in new sign-ups compared to their business daily campaign. The broader reach helped capture a diverse audience interested in convenient digital payment solutions.
Case Study - Razorpay:
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Razorpay's advertising in general news dailies led to an 18% boost in merchant acquisitions. Their campaign emphasized ease of payment processing and financial management, which resonated well with a broad audience.
Case Study - PhonePe:
PhonePe’s 2021 campaign in general news dailies saw a 22% increase in app downloads. The campaign highlighted the simplicity and security of digital transactions, appealing to a wide range of readers.
Visual Data to Support the Argument
General News Dailies: 25%; Business Dailies: 20%; Online News Platforms: 22%; Social Media: 18%
Trust in Media Sources (India):
General News: 60%; Business News: 50%; Social Media: 35%
The Strategic Advantage
Comprehensive Coverage:
General news dailies offer extensive coverage that includes finance, technology, lifestyle, and more. This makes them an ideal platform for Fintech companies to reach out to readers who are interested in financial products and services but may not read business-specific publications.
Brand Visibility and Recall:
Advertising in general news dailies enhances brand visibility and recall among a wider audience. This is particularly beneficial for Fintech companies looking to establish a strong brand presence and attract a diverse customer base.
Call to Action
It's time to rethink our advertising strategies and embrace the broader audience offered by general news dailies. By diversifying our media mix, we can ensure that we reach every potential user, enhancing our brand visibility and credibility.