Use of Influencer Marketing for Brand Image of Selected Fintech Companies in Abuja, Nigeria

Abstract

This study examined the use of influencer marketing and its influence on consumer perception, brand credibility, and service adoption of Flutterwave and OPay in Abuja, Nigeria. The study was anchored in Source Credibility Theory (SCT) and adopted a quantitative research design. Data were collected through a structured questionnaire administered to 400 users of Flutterwave and OPay in Abuja, selected through a multistage sampling procedure. The data were analysed using descriptive statistics, including frequencies, percentages, means, and standard deviations. Findings revealed that both fintech companies employ influencer marketing strategies such as tutorials, product reviews, personal endorsements, promotional content, and social media campaigns. Micro-influencers and content creators were more noticeable among OPay users, suggesting that relatability and audience relevance are important in fintech influencer marketing. It further showed that influencer marketing positively contributes to perceived brand credibility and service understanding, with a majority of respondents indicating that influencer-generated content was credible and effective in explaining fintech services. However, challenges including unclear explanations, overly commercial or insincere content, misleading information, and inconsistent messaging were identified as factors that may reduce the effectiveness of influencer marketing and weaken consumer confidence. The study recommends that Flutterwave and OPay strengthen the use of credible and relatable influencers while prioritising educational, demonstration-based, transparent, and consistent content to improve consumer trust and strengthen brand image.