Of all the social media platforms that have seen explosive growth over the last 3 years, TikTok is definitely one of them. With more than 500 million users who are desperate for fun and engaging content, TikTok provides an exciting opportunity for companies and brands to showcase and promote their business.
For financial advisers, stockbrokers and even top venture capital trusts, TikTok has become another platform to introduce users to their financial services. This article will provide a few pointers on how to leverage this social media icon to promote a wealth management service or investment platform.
To leverage TikTok as a marketing tool, the first thing you need to know is how the platform works and how users interact with each other. As it appeals to a younger demographic, you really need to get a grip of their language to effectively use the platform.
TikTok in mainstream culture
When it comes to social media platforms, TikTok is a short-form video app where videos range from 15 to 60 seconds. With over 500 million users worldwide mainly consisting of a younger audience, it is now one of the biggest social media platforms for user-generated content. For businesses especially those related to the trading world, TikTok is one such platform they can use to target the tech-savvy users of the world. Since most of TikTok’s user base consists of Generation Z and young millennials, they can be the best target for forex brokers and robot providers. Some of the best forex brokers have started using TikTok and similar platforms to showcase their services.
Is your business right for TikTok promotions?
Before we start registering a TikTok account and setting things up, you have to conduct some research on whether or not your business is suitable for the platform. Any good business book would suggest this. Some factors that your business should possess include:
- Target consumers are younger than 35
- Products are visually appealing
- Main targets are Generation Z and millennials
- The brand should be fun, trendy and casual
The above list is not exhaustive and there are some other factors as well. However, if you see that your business is not meeting any of the above criteria then you may have to reconsider your TikTok advertising strategy.
Trading stocks & foreign currencies is an activity that is appealing to a younger demographic. In recent years, cryptocurrencies, Gamestop and other manias have captured the mainstream attention of investors in their 20s and 30s. While many have sensibly refrained from such risky speculation, they have begun to consider trading in general. Learning how to trade forex with the best forex brokers is naturally easier with easy access to many online investing courses.
Be wary of financial regulation
It’s easy to get caught in the humour and glamour of TikTok and forget that financial advice is a completely regulated professional in most countries. In the UK, regulations laid down by the FCA prohibit unregistered and unlicensed individuals from the offering (or purporting to offer) financial advice.
This means that financial TikTok creators need to tow a very careful line between providing enough information and insight to be relevant and useful, without crossing the line into financial advice.
I would recommend that disclaimers to this effect are included in the content, together with a script that regularly repeats that you are not providing financial advice.
It’s also responsible to be very clear about the level of risk involved in trading forex and other financial products such as spread betting, CFDs and leveraged trading. The stock market itself has enough risk to make it inappropriate for many individuals. This means that even fewer people should be considered high-risk trading.
Engagement with the audience is always the prime factor one has to think about when posting content on TikTok. Once you have some engaging content out, your audience will expect more from you on a regular basis.
A common mistake many marketers make is to generate a lot of posts on TikTok at the beginning and then post nothing afterwards. This is a bad practice as it equals telling your audience that you have nothing new to offer them. Thus, always try to create a schedule for your TikTok posts. New content posted regularly on the platform increases the chances of engagement.
TikTok videos are at the core of content on the platform and should be the primary concern for brands when promoting themselves. Creating a video on the platform is pretty straightforward as it comes with a bunch of intuitive and powerful tools.
- Simply go ahead and tap on the plus icon located at the bottom of the screen. Clicking this will open the camera which you use to create either a short 15-second video or a longer 60-second video.
- There is also an upload button that you can use to upload a video that you created earlier. Use the myriad of special effects to speed up, slow down, add a timer or alternate between front and back smartphone cameras for a more engaging video.
- Once you have finished your video just tap on “Next” and you will see a page that looks a lot like the posting page for Instagram. On this page, you can create a caption for your video and add relevant hashtags.
Using the right hashtags is very important if you’re promoting a brand through posts. Hashtags can be added to video posts, independent posts or on the section for comments. Hashtags are important if a business wants to categorise some of their content. One of the main reasons for using hashtags is to boost engagement. It persuades your audience to watch a video with the right hashtags you will certainly get more views. Hashtags are good at highlighting trending topics that users do not want to miss. It will increase the number of likes that you get too.
The more engagement that you can get through the right hashtags the better and this will help you to drive more sales. Some of the users on TikTok will be looking for specific types of content. They will look at hashtags as the best way to determine the type of content. There are several tools that you can use to find hashtags, such as Seekmetrics and All Hashtag.
Some of the most used hashtags include : #tiktok, #funny, #love, #followme, #memes, #cute, #music, #fun, #fashion, #happy, #musically , #follow, #followforfollowback.
Financial hashtags include: #finance #money #business #investing #investment #entrepreneur #financialfreedom #success #trading #wealth #bitcoin #stocks #stockmarket #motivation