Archive for December, 2021

Fintok and finfluencers go mainstream but don’t let your brand see red

Posted on: December 16th, 2021 by Tomas White

A quick scroll on fintok and it’s easy to see why this latest trend is appealing to brands, consumers, and finfluencers alike. Tugging at the heart and purse strings of viewers, we see bitcoin experts explaining new coins; money coaches revealing the importance of multiple income streams; even renovation gurus gaining views and followers with their top tips to save for a home. While the cynics may dismiss fintok as another fad, there is no doubt that this content resonates.

Personal finance has traditionally been seen as a dry subject with brands and influencers battling to command the attention of consumers and achieve cut-through. In turn, traditional financial bloggers have always struggled to achieve the engagement that finfluencers can now accrue on platforms like TikTok. As consumers tussle with the information overload of everyday life, TikTok is captivating many with visually engaging content. Within fintok, this is no different with viewers receiving their personal finance fix in only 60-seconds from people audiences identify with.

Numbering over half a billion views, #fintok moves into 2022 as one of the most informative and active corners of the platform. Engaging a historically hard to reach audience of primarily gen-z and millennial viewers, finfluencers are moulding the next generation’s financial views. For brands, this raw affinity between easily digestible finfluencer content and digitally enabled audiences presents opportunities to brand communicators. However, challenges for this young platform and those looking to benefit from this trend remain.

In the investing space where #investing has 4.2 billion views on TikTok, social media figures share trading knowledge with their young following on the platform. Research from Hargreaves Lansdown found that over half (56%) of 18–34-year-olds investors get ideas from social media channels including TikTok. However, many finfluencers are unqualified and underplay the risks involved with investing. It is easy to see why some refer to fintok as the ‘Wild West’ with scams, “get rich quick” schemes, and misleading viral videos on the rise. Now, regulators including the Financial Conduct Authority and Advertising Standards Authority are applying more scrutiny to this pandemic phenomena.

For brands looking to communicate via fintok, protecting consumers should be central to any promotions or content. Capturing the inclusivity and buzz around financial conversation is important but this comes hand in hand with ensuring that content is subject to the highest standards of vetting and compliance. Equally, bad advice will be remembered by consumers and leave your brand going viral for the wrong reasons. Financial services firms need to facilitate a more inclusive conversation around money and TikTok is a vehicle to achieve this. However, content needs to be positioned correctly with the appropriate influencer talent and tone of voice.

2022 will no doubt turbocharge fintok’s growth as finfluencers grow their voice on the platform and people look for quick and easy guidance from fintok. The problem is financial affairs are rarely quick and easy. Personal finances are often complex and fragile; something a 60-second video will always struggle to fully cover. Money matters more and more, the opportunity is there to be seized for a brand that understands its contribution to fintok and makes a name for itself by elevating financial discourse.

Finding opportunities: what I learnt as an intern

Posted on: December 14th, 2021 by Tomas White

I joined the MHP Mischief Health team as an intern in October of this year and have had an incredible experience. As I finish the last week of my internship and of the year, I have some reflections on my time here.

One thing that I hadn’t anticipated about interning with the health team was just how welcoming and warm everyone would be. As a new starter in my first week, I was very nervous and had no idea what was going on. However, each person I worked with was patient and kind and gave me the time to learn and ask questions. With each new task I was given, I became more and more confident in my work and developed new skills which I could apply to the next challenge. As time went on, by my second week, I got the hang of the workflows and programmes and became much faster at completing tasks as well.

One of the things I’ve enjoyed most about the internship is the variety of accounts I’ve been able to work on. Most permanent members of staff, whether they are Account Executives or Account Directors, all work across multiple accounts simultaneously. One account might be a national campaign for a particular drug, or it might involve setting up an international conference with patient groups for a particular disease area. As an intern, I get to help out on any account that needs additional support, which can be anything from stakeholder mapping, to monitoring, to report writing. As a result of this variety, I have learned a lot about the healthcare space in such a short amount of time and have been able to develop my professional writing skills as well in the process.

With such a wide variety of accounts, members of the team are encouraged to voice their preferences for which account they’d like to work on. This means that people with specialised knowledge or interests in certain areas are able to bring their expertise and passion to each account team.

During my time as an intern, I’ve also had the opportunity to attend work socials, including our Health team Christmas lunch a few weeks ago. These events have been a great way for me to meet the team, especially because MHP Mischief is currently operating a part-time WFH system.

Overall, my time as an intern has been a fantastic learning experience and has led to a full-time Account Executive position that I’m starting in January. This is not an internship program where you will be asked to just buy people coffees or get forgotten in the corner – it’s an opportunity to become a part of a dynamic and hardworking team where you can jumpstart your career in health policy and communications.

If you would you like to learn from one of the best health public affairs and comms teams out there then please do get in touch at [email protected].

Bill Watch: State of Play – A Review of the Health and Care Bill’s Passage Through the Commons

Posted on: December 10th, 2021 by Tomas White

This week, the Bill is in the Lords for its second reading, marking the first major opportunity for Peers to debate its principles and purpose. Members, it’s worth remembering, that now include Lord Stevens of Birmingham, the former NHS England chief.

So far the Bill has not disappointed in generating headlines about stealth privatisation, the NHS being sold to America and the “denationalisation” of our national treasure, as well as the slightly more curious sight of another national treasure, Stephen Fry, becoming the face of a campaign called ‘Your NHS needs you!’.

The progress of the Bill so far can be characterised as having generated more heat than light.  Thoughtful amendments have perhaps become lost amidst the noise. As Isabel Hardman said in the Independent recently, “If the Tories really wanted to privatise the NHS, you think they’d have managed it by now.”

As the Bill moves to the upper chamber, there are a few areas where Government has so far resisted the opportunity to accept amendments that might have made a tangible difference, where it might be hoped that the Lords intervene. Jeremy Hunt’s niche amendment on workforce forecasting, blocked by the Government allegedly because the Treasury thinks it would cost too much, is one such reform that Peers may wish to adopt.

The Lords might also want to take a close look at the additional powers given to the Secretary of State, an area where scrutiny is encouraged by both the King’s Fund and NHS Confederation, amongst others.

It is likely that Peers will drill down to the important issues, and prioritise pragmatic amendments which will improve the Bill before it returns to the Commons.

Bill Watch: State of Play – A Review of the Health and Care Bill’s Passage Through the Commons