Social Media Marketing

GUEST POST: FinTok: How TikTok Helps People To Use Cash Wisely

Girl holding money with TikTok logo

TikTok is one of the well-known applications which is used worldwide and is famous for its lip-syncing videos. The social networking app, which allows users to create and share one or more 60-second videos soundtracked with music clips, will have received more than 2 billion downloads worldwide by 2020.

With a strong reputation in the financial world for encouraging volatile activist investing and cryptocurrencies, TikTok has helped to increase interest in Dogecoin and GameStop. They are nothing but the two companies that have benefited from the TikTok app. Apart from the funnier side of TikTok, there is a wealth of practical finance – that lets people use the money better.

The financial space on TikTok seems to be growing globally and is abbreviated as FinTok. Here, the content which is tagged along with the hashtag #stocktok that received views of about 1.4 billion times. However, the next hashtag #PersonalFinance has got more than 4.4 billion views.

In this article, we will cover up why TikTok is a big deal for financial purposes.

Why TikTok For Finance Matters?

Every day, nearly a billion people use TikTok’s app, with the majority of them (70 percent) being under the age of 24. Because of the large number of people who share and watch content, the variety of content available is incredible. Besides being a great place for dance challenges and funny videos, TikTok is also a fantastic tool for bite-sized learning and developing life skills in a fun and engaging way.

After graduating from high school and entering the workforce, the older half of Generation Z is becoming increasingly interested in personal finance and banking, as well as mortgages and even investment. We’ve seen an increase in finance-related content on TikTok, with fintech companies getting involved. Also emerging are the so-called ‘fin-influencers,’ who are content creators who specialize in personal finance, money management, or investment-related topics.

How FinTok Works?

People are thinking about their money, and how to make it work for them, earlier and with greater care than they have in the past. Not the content of these videos, but their reach, is what is most impressive about FinTok: it is reaching young people who may otherwise be uninterested in personal finance and encouraging them to engage with it.

Several people have even taken their initial steps into investing as a result of brief videos they’ve watched on social media platforms. For many millennials and members of Generation Z, TikTok is their first and only source of information about money and financial matters. Let’s see some of the best examples of this FinTok.

Ava Montgomery, a 17-year-old YouTuber, discovered personal finance when one of her favorite creators on the site moved their content to FinTok. Many of their videos are advice-based, and a significant portion is devoted to financial matters on receiving more likes on TikTok. Even though she is still in the sixth form and not yet at the stage of life where she can take action, she has already gained valuable knowledge about credit and mortgages while scrolling through her smartphone.

What Are Some Tips And Advice On FinTok?

TikTok recommends users the videos based on their past interactions and the idea behind it is the TikTok algorithm. And this is a complete process done by the TikTok For You Page(also called FYP). Even if you only use the platform for entertainment purposes, the platform’s random feed means you may find yourself unintentionally engaging with educational content.

Example: 1

Laura Pomfret states on why she loves TikTok and she is none other than the one of the founders of the brand “Financielle”. At the very beginning, Laura and her sister Holland expanded their brand on Instagram but now they have utilized the TikTok space also. However, they explain the content in a very good financial spin via the latest trends and songs in TikTok.

Example: 2

A younger creator, @pokubanks, sees his platform as a place for education as well. Since starting to make personal finance videos on TikTok in January 2020, David Poku, 20, has amassed a following of more than 330,000 people. His fascination with money began “as a result of a lack of financial literacy education in school,” he claims in his biography.

His sixth-form education brought him to the realization of the fact that he had never been taught about taxes, investing, or debt. He self-taught himself and enrolled at the University of Nottingham to pursue degrees in finance, accounting, and business management. And he also reveals that he makes some of the contents from his lectures.

Poku’s typical video takes a conversational, question-and-answer style, which is a good way of interaction. In the scenario of the crypto currency crash, Poku made a video on “naive investor” where he wore the black tracks with a plain fitted T-Shirt. He looked into the question of whether people who had purchased cryptocurrency should sell their coins at a low price or whether they should ride the wave of speculative activity.

Example: 3

Andra Maier, who resides in London at the age of 27 turned to TikTok for advice on how to manage her finances better. She exclaims that most of the contents on the For You page is all about the financial services. Rather than individual influencers, Maier recalls specific helpful videos that she has seen.

She recalls that one of the creators demonstrated how to use a Google Form for budgeting, prompting Maier to wonder why she never used this before. Before the session she used this process just to create budgets, which helped her in many ways. The girl used to note all the progressions in the google form for every single category.

What To Bear In Minds Of People About Videos?

However, these straightforward and brief FinTok videos are not universally embraced. Matthew Flower, from the place called “Saffron Walden”, is 37 years old, making him a decade older than the average TikTok user. He initially downloaded the app “to keep up with what my children are doing online,” but ended up discovering the app’s many personal finance videos as a result of his research. He’s not a big fan of mine. And he says that all of them are terrible in his point of view.

One issue for FinTok users in the United Kingdom is that the vast majority of the content is from the United States. Flower explains that there is no difference between our financial systems”. However, he believes that the greater problem is that people may take influencers’ “statements as fact, without conducting their due diligence.”

Nigel Frith, talks about the emergence of online platforms in Wall Street or the London Stock Exchange.”The dangers of having such a low barrier to entry, however, are something he is also concerned about.

To begin posting videos to TikTok, all you need is the TikTok app on your phone. In addition, the FYP can go viral more quickly than other social media platforms, according to its creators, allowing information to be viewed hundreds or thousands of times without the need to gain the trust of a large number of followers.

Summing Up

In personal finance, there are a lot of complications with influencers in other genres because there is a risk that they will engage in market manipulation by providing tips that benefit their investments, which could result in their investments losing money.

Streeter, of Hargreaves Lansdown, believes that it is difficult to determine “the motivations of these people” on social media. If something is not right, she says, “it is not easy to criticize an influencer at the moment.”

TikTok stopped the promotions regarding financial services and products, which included everything from cryptocurrency to debit cards, and that the ban was effective immediately. Although the scope of the ban is currently unclear, it does indicate that TikTok is taking steps to reduce the amount of potentially harmful content on the platform.

Personal finance campaigner Myron Jobson of the website Interactive Investor says the change “will hopefully signal the end of doubtful advertisements for high-risk investments, as well as highly volatile cryptocurrencies. And finally it is also useful to detect the content that seems like a weed, helping companies regarding the revised content policy.

According to TikTok’s policy, keeping people safe regarding content is considered the top priority. and that is why the company launched the #FactCheckYourFeed campaign in October. When it comes to financial advice hashtags, it posts a public service announcement, reminding users.

Conclusion

Even if the rules are a little bit hard for the future, FinTok is going on its peak. The viewers and the influencers watchout TikTok as a useful thing for the vital knowledge gap for the UK’s youth, and many creators such as @financielle and other examples mentioned can act as real time examples for financial management.

Finally, the personal finance videos in the wild west suggest managing finances in just simple steps: A complete research on what we are about to do and progressions moulds a positive outcome and however people do love the way of acquiring and managing their financial balances.

I hope the above article would definitely be a piece of information to make an excellent financial strategy.

 

Anne Joseph

Anne Joseph is a passionate social media writer working at Bouxtie. She has strong strategy skills in developing and managing social media campaigns. She loves to make new connections and enjoy the opportunity to work with social media influencers. Start following her on Twitter.com.

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A website is every brand’s portfolio, as that’s where the prospects reach when they wish to know about a brand. Still, many brands face higher website bounce rates and lesser engagement rates.

That’s because people are tired of looking at basic web pages. They want something more thought-provoking and attention-grabbing.

If you ask us, then our answer would be to embed social media feeds on your WordPress website.

Wondering how that happens? Keep reading to find out.

(more…)

Expert Connexions: Web Extra: How to Communicate in a TikTok World

Previously on Expert Connexions, Julie Holton and Paul Schmidt of UnoDeuce Multimedia talked about utilizing TikTok and Reels for marketing purposes – and on this special Web Extra of Expert Connexions, we talk to more marketing experts from Symposia Labs and SuperWebPros about this topic.

Why you should consider short-term video for your business – here on Expert Connexions.

Expert Connexions brings the experts to you every Monday morning after Good Morning America at 9 a.m. on WLAJ-TV in Lansing, MI. Learn more: expertconnexions.tv

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Our reality isn’t simply technology-driven now. At present, we are living in a visual reality where artists need to zero in on pulling in their audience by utilizing the most well-known channels for this reason. One of them is a social media platform like Instagram.

Since the time Instagram was first presented, making photographs and imparting them to an enormous audience has gotten incredibly disentangled. Not exclusively is the way toward sharing at least somewhat basic, however, the outcomes can be glorious. With incredible photographs and Instagram methodology comes high after and accordingly, artists can promote themselves everywhere on the Web. If you are an artist, then there a few ways you should be aware of to promote yourself on Instagram as an artist. Let’ see what they are. (more…)

GUEST POST: TikTok Business: How And Why You Need to Promote Your Brand On TikTok

Introduction:

  • First, we know about the great platform TikTok.
  • Okay, TikTok is one of the world’s trendiest platforms, with 500 million active users and 1.5 billion downloads in a very short period.
  • The largest demographic of the app’s users is teenagers and youngsters aged between 16 to 24 years.
  • The platform’s aim is to elaborate the world’s creativity, knowledge, and precious life moments directly from the mobile device.
  • It enables everyone to be creators to share their thoughts, creativity, and passion through short-form videos and encourage users to show their talents.
  • It is one of the advertising heavens for businesses to promote their videos quickly.

If you are an entrepreneur or a small business owner, your question might be, what TikTok is?

The valuable answer is that it is one of the new hottest social networks in the world of digital marketing.

This article will see what TikTok is, how and why brands should use this platform to promote their brand.

Here’s our deep dive.

What TikTok actually works?

TikTok, formerly known as musical.ly, is one of the popular social media platforms. It was owned by a Chinese company named ByteDance in the year 2016. TikTok allows everyone to create, edit, and share short-form videos for up to 15 to 60 seconds. The app is available in both Android and iOS systems.

TikTok is all about fun and entertainment, and most of the TikTok videos entertain people through lip-syncing, dancing, comedy, and facial expression videos.

TikTok is combined with the growth of mobile internet and the power of artificial intelligence. By using these combinations, the app makes a revolution in how people get and consume information.

Is TikTok For Business?

TikTok isn’t right for all business types, but it is a great platform for some businesses.

For example, if you are looking to expand your brand awareness to a younger audience and if you are open to trying something new and different.

TikTok provides several benefits for every user, especially for brands. You can easily showcase your brand/product in a TikTok short video format.

If one of your business goals is to target a younger audience, TikTok is the only place to achieve them. If you use this platform effectively for your business, you can reach more heights quickly.

How to Promote Your Brand On TikTok?

There are several ideas that brands can market their products on TikTok. Here are some valuable ideas:

  • Brands can create their own channel and upload the relevant video to their channels.
  • They can work with influencers to spread content to their audience.
  • They can pay and advertise their products on TikTok.

Most of the brands do a combination of making their own channels and working with influencers to spread content. You might try some powerful ways to spread your brand across the Tiktok world and capture a wider audience to your account.

1. Make Your Own TikTok Content That Connects With Your audience

Creating organic content on TikTok is a great way to express your brand’s unique voice. You need to create likable, shareable, and viral videos for your business on TikTok. Here are a few tips to make your own TikTok videos:

  • Be authentic: most of the users shoot their videos with their phone and natural effects. Create your content in the same way.
  • Show Faces: this is the chance to interact with your audience. Users are not looking at objects. Only they want to watch people.
  • Comedy Clips: TikTok is all about fun and entertaining. Most of them spend their time for mind relaxation. So, the comedy clips are more and more viral on TikTok.
  • Fun Contents: TikTok is the perfect place to create fun and creative content of your own. It is one of the easiest and least expensive methods to promote your brand on TikTok. The most significant benefit of TikTok is you don’t need to create highly-polished content. Whatever you can post on TikTok.

2. Launch A Hashtag Challenge On TikTok

Another effective way to promote your brand on TikTok to launch a hashtag challenge. Hashtag challenge encourages your audience to create their own videos based on your theme and add your hashtags on it.

Fun hashtag challenges help not only to promote your brand on TikTok, it also drives user interaction and boosts TikTok likes for your videos. Almost all the TikTok users love taking up a challenge and making and uploading their creative videos with #-tag name that is both memorable and easy to find.

3. User-Generated Contents

If you want your audience to interact with your products, user-generated content is the best way to share videos of themselves. It is one kind of effective marketing that brands can utilize from their own channel. Also, the work with influencers uses this user-generated content to encourage their targeted audience.

Should You Promote Your Business On TikTok?

Now, we are discussing why TikTok is more beneficial for your business and brand. Of course, TikTok is a great platform for every individual and business owners to share their valuable thoughts among the crowd.

Bring More Revenue:

In 2021, social media will be empowered in the world of digital marketing. TikTok is an excellent social platform to gain more revenue in a short span of time. The effective reason for the platform’s success is its potential growth, and the users count. TikTok is the fourth most downloaded app in the world.

Powerful Advertising Feature

It took a while, but recently TikTok introduced ads to its platform. It is one of the significant reasons why brands should utilize this platform. The platform offers four powerful ads that can help to stand out your brand across the world.

These contain:

  1. In-Feed Native Ads
  2. Brand Take Over Ads
  3. Branded Lenses
  4. Hashtag Challenges
  • In-Feed Native Ads

In-Feed ads are similar to Instagram and Snapchat Ads, and it supports multiple features like website clicks and app downloads.

  • Brand Takeover Ads

It allows only one brand to take over a day. It is the purest ads format of TikTok, and you can use images, videos, GIFs for your ads with the embedded links. These links help to connect with TikTok users directly to hashtag challenges or landing pages.

  • Branded Lenses

It is similar to Snapchat lenses and effects. TikTok provides 2D, 3D lenses for your videos that help to make your videos more attractive. Even it provides an option to interact with your audience through branded content.

  • Hashtag Challenges

Last but not least, the hottest part of TikTok ads is its challenges. It offers the best way to go viral through promoted hashtags and user-generated content.

Influencers Rise on TikTok

Influencer plays an important role in all social networks, especially for TikTok. If your brand collaborates with influencers, your brand can connect with a huge audience shortly.

Lots of benefits are there to campaign with TikTok influencers, but you should keep in mind a few things:

Find an influencer with an audience range that is relevant to your target audience.

Use some online tools available on TikTok to search for perfect influencers through their Bio informations. This way helps you find an audience that most closely aligns with your needs.