The Impact of Financial Literacy on Investment Decisions in Marketing-Driven Digital Platforms

Abstract

This study examines the influence of digital financial influencers and marketing strategies on investor behavior in digital platforms, with a particular focus on the role of financial literacy and information verification. Using a single-factor ANOVA test, the research evaluates whether investors rely on digital influencers when making financial decisions or if they prioritize independent verification. The results indicate that while influencers and marketing strategies create awareness, they do not significantly affect actual investment behavior, as evidenced by a P-value of 0.228 and an F-value lower than the critical threshold. Investors demonstrate a preference for verifying financial information through trusted sources before making investment decisions. The findings suggest that financial literacy, personal risk assessment, and independent due diligence play a more critical role than digital marketing strategies. This study underscores the need for stronger financial education programs, regulatory oversight on digital financial advice, and increased transparency in influencer-driven investment recommendations. It also highlights the complexity of investor decision-making, which is influenced by multiple economic, psychological, and informational factors. The study contributes to understanding digital investment behaviors and emphasizes the importance of informed, data-driven financial decision-making.