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India.com
3 days ago
- Business
- India.com
81% Indians Use THESE Digital Platforms To Discover Financial Products: Report
New Delhi: Indians are increasingly taking charge of their financial journeys through digital content, communities, and creators, as 81 per cent of consumers use Facebook, Instagram, or WhatsApp during the discovery phase of financial products, a report said on Thursday. "Financial advice is no longer confined to expert columns or in-branch consultations – it's happening on Reels, in WhatsApp groups, and through Instagram creators demystifying jargon in under 60 seconds," according to a joint report of Meta, the parent company of Facebook, Instagram and WhatsApp, and global market research firm IPSOS. According to the report, 81 per cent of consumers use Meta platforms when first discovering financial products, and this influence continues through the evaluation stage (79 per cent) and remains strong at the final purchase stage (83 per cent). The digital platforms play a key role throughout the decision-making journey for specific products, including loans (86 per cent), investments (84 per cent), insurance (78 per cent), and savings (82 per cent), the report stated. "Financial planning is integral to the lives of most Indians across income groups. But this process is rapidly evolving, fueled by digital. Whether it's the growing role of Meta platforms in the purchase journey, the increasing influence of Reels and creators, the rising role of business messaging or the growing number of women who are taking independent financial decisions," said Shweta Bajpai, Director Financial Services, Media, Travel, Real Estate, & Services (India), Meta. Despite being an industry with substantial offline presence and touchpoints, the report shows that 6 out of 8 touchpoints in the purchase journey of financial products are now digital, with 50 per cent of these digital touchpoints attributed to Meta platforms. Additionally, more than 50 per cent of financial services consumers view personal finance and investing content on Meta platforms. Financial products might be complex, but consumers don't need long-form storytelling to resonate with the user, the report stated. Short-form content is capable and effective at turning complexity into clarity. Instagram Reels and Facebook videos are the new face of financial literacy. The study showed that 57 per cent of users rely on Instagram and 53 per cent on Facebook to make informed financial decisions, the report highlighted. "Short-form video and Reels are transforming the way businesses connect with new customers and fuel product and brand discovery," said Anoop Manohar, Chief Marketing Officer, Axis Bank. The report also highlights a shift in user preferences, with people seeking authenticity over authority. A significant 75 per cent trust financial podcasts, while 67 per cent look to influencers and subject matter experts for guidance. The report was prepared after surveying over 2,000 respondents aged between 25-45 across Delhi, Mumbai, Bangalore, and Kolkata, who are current or prospective buyers of financial services products.
Time of India
04-07-2025
- Business
- Time of India
ET Shark Awards 2025: Swiggy, Axis Bank, Tata Salt, Ogilvy Group India win big
Drum rolls! The wait is finally over. The ET Shark Awards , a tentpole property of ET Brand Equity, which is a celebration of marketing excellence , has unveiled the winners of its 7th edition. The ET Shark Awards stand as a beacon, recognizing and celebrating the trailblazers who have pushed the boundaries of excellence in the Indian marketing and advertising landscape. The coveted Campaign of the Year award was proudly taken home by Tata Salt for their impactful campaign, The Unforgettable Salt. The work was presented by Tata Consumer Products Ltd. & Wavemaker India Pvt. Ltd. Swiggy bagged Brand of the Year. Ogilvy Group India secured the prestigious Agency of the Year. Axis Bank received the Disruptive Brand of the Year (Silver) for its Devanagari PIN work by AutumnGrey, a Grey company. Individual excellence was also celebrated. Anoop Manohar, Chief Marketing Officer, Axis Bank, and Siddharth Gupta, Chief Marketing Officer, Britannia, jointly awarded Marketer of the Year. Prasanth Kumar, CEO – South Asia, WPP Media, received CEO of the Year (Network Agency). Harshil Karia, Founder, Schbang, was recognized as CEO of the Year (Independent Agency). Falguni Nayar, CEO, Nykaa, was honored with the Lifetime Achievement of the Year award. The Rising Star of the Marketing World was awarded to Savio Cerejo. Click here to view all Gold, Silver, and Bronze winners. PwC, the knowledge partner for the awards, conducted meticulous due diligence for all entries, shortlisting them for a three-city jury process. The shortlisted entries were then evaluated against predefined parameters by a panel of over 100 CMOs, marketing heads, and creative leads from leading brands in India. The entries were assessed using a comprehensive set of criteria designed to identify truly outstanding work, including campaign objectives, challenges, strategy implementation, message alignment with the target audience, and overall impact. The shortlisted entries were later evaluated by a panel of Grand Jury members, comprising India's top CEOs, MDs, and founders. The Grand Jury was chaired by Suresh Narayanan, Chairman and Managing Director, Nestlé India, a name that truly needs no introduction in the Indian business fraternity. Talking about the winning entries, Shivam Puri, MD and CEO of Cipla Health, who was a part of the Grand Jury of the awards, said, "The way digital has gone deep into every single marketing communication in each of these winning entries makes you realize that it's actually ingrained deep into what we do everyday (as consumers)." According to Geetika Mehta, Managing Director, Nivea India, the entries were of a very high caliber, with many in the social space as well, which she thinks was much needed. "It's really nice to see new work coming up year on year, which is creative," she added. Sangeeta Pendurkar, CEO – Pantaloons, Aditya Birla Fashion and Retail, concluded by saying the winning work gave the Grand Jury a great perspective of the kind of work that's happening in the country today.
