In recent times, there has been a transformation happening in the finance realm. Traditional banks and financial institutions are encountering competition from a wave of companies known as fintech startups. These tech-driven enterprises are shaking up the industry by offering solutions that deliver more convenient and accessible financial services. With the market brimming with fintech firms, they need to invest in marketing tactics to stand out and lead the pack.

Understanding the Fintech Audience: Identifying Target Demographics

A crucial initial step in formulating fintech marketing solutions is grasping who their target audience is. Fintech products and services cater to a spectrum of consumers, ranging from millennials and small business owners to freelancers, gig workers, and elderly individuals seeking greater transparency and accessibility.

By segmenting these groups based on their requirements and preferences, fintech companies can tailor marketing campaigns that resonate with potential clients. Through market research involving surveys or interviews, fintech marketers can unearth insights about what matters most to these target segments.

Crafting Compelling Content: Engaging Potential Clients

Once fintech marketers have pinpointed their target demographics, they can focus on creating captivating content that captures the interest of clients. Creating blog posts, articles, engaging videos, interactive social media campaigns, and podcasts opens up a world of possibilities for content creation.

To attract clients through your marketing content:

1. Show empathy: Produce content that speaks to their challenges and demonstrates how your financial technology solution can address them. For instance, "The time-saving benefits of our invoicing tool for professionals."
2. Share authentic narratives: Highlight success stories from customers to build credibility for your product or service. Narratives help humanize your brand and establish connections.
3. Simplify ideas: Finance can seem overwhelming to individuals. Simplify terms into understandable content. Use analogies or real-life scenarios to showcase how your financial technology solution can benefit the audience.
4. Optimize for search engines: Utilize search engine optimization (SEO) strategies to boost visibility and reach an audience. Identify keywords that your target markets search for solutions and seamlessly incorporate them into your content.

Leveraging Social Media: The Intersection of Fintech and Marketing

Social media platforms play a role in the marketing strategies of all businesses, including fintech companies. These platforms enable firms to engage with their desired audience, raise brand awareness, encourage interaction, and generate leads. Here are some tips for improving your fintech marketing using social media:

1. Choose the right social media platforms: Different platforms cater to different audiences, so focus on those where your target demographic is active. For instance, consider one platform for professionals and others for general users, and tailor your content to suit each platform.
2. Interact with your audience: Engage with users by responding to comments, messages, and inquiries on social media. Building relationships through interactions shows your dedication to customer satisfaction and helps establish trust.
3. Collaborate with influencers: Partnering with influencers or industry experts can boost the reach of your message in the market. By teaming up with personalities who align with your brand values, you can enhance credibility and attract a broader range of potential customers.

Optimizing ROI Through Data Analysis

Fintech marketers should consistently monitor their performance to ensure that their strategies deliver returns on investment (ROI). Data analytics offer insights into the effectiveness of marketing campaigns in attracting leads and converting them into customers.

Effective data-driven approaches:

1. Use web analytics tools: Platforms like Google Analytics provide information on website traffic, user engagement, and conversion rates for fintech companies. By recognizing trends, marketers can use data-driven insights to improve their advertising strategies.
2. Automation in Marketing: Utilizing marketing automation tools can simplify the process of nurturing leads, managing email campaigns, and tracking customer interactions. This enables fintech startups with limited resources to engage with potential clients more efficiently.

In Summary: Achieving Success Through Holistic Marketing Approaches

In today's fintech sector, it is crucial to establish a marketing plan to transform financial services effectively. Identifying the target audience, developing engaging content, utilizing social media channels, and leveraging data analysis are key elements of a successful fintech marketing strategy.

By dedicating time and effort to crafting marketing approaches tailored to their customer segments, fintech companies can set themselves apart from traditional financial institutions and position themselves as industry leaders.

One of the hardest things to do is stop yourself from spending money. We've all been there and it's incredibly hard to be frugal and save money when we live in a world encouraging you to buy everything and buy it now.

What is impulse buying?

Impulse buying is the concept of purchasing something you hadn't intended to. This is normally a purchase made in the spur of the moment, which can be categorised as sudden or unplanned.

It can be seen in products such as chocolate, clothes, mobile phones or tablets, and even big-ticket items such as cars or jewellery. The decision to buy a product such as this is sometimes irrational therefore, marketers will tap into this to try and encourage sales.

What are examples of impulse buying?

The simplest example is buying chocolate when you're food shopping. It's not something you need, it's not necessarily on your shopping list, but it's something you might pick up when shopping due to a series of triggers. You could have had a bad day, or you could be feeling a little down, why not have some chocolate to perk you up? It's as simple as that. 

How do I stop impulse buying?

It's difficult to stop yourself from impulse buying in these situations so here are several ways to stop yourself from buying:

#1 - Stick to your shopping lists

This seems simple, but we all make emotional decisions. We've all been in our local shop with a shopping list in hand and picked up something extra because we're a bit hungry, or maybe we're feeling tired and picked up something like an energy drink. The answer is to stick to your list. Make sure you take a list and outline what you need. 

#2 - Stop and think before purchasing

Sometimes, the simple things work. Let's say for example you're stood looking at a new TV. You may already have a TV, but there is a great deal on this TV. It's better than the one you have, it's bigger, it's got a better screen, it has built-in apps. You want this TV, but let's stop and think for a moment. Sometimes, we all need to take a moment and just really consider whether you need the product you're looking at. It may be shinier, it may be bigger and it may be a great deal, but you don't need it. Sometimes all we need to do is stop and think about the product we're looking at. Do you need it? It doesn't have to be a TV, it could be a chocolate bar, it could be a laptop, maybe a new smartphone. The reality is in a lot of cases, we don't need it, we want it. These can be large outlays, even chocolate bars these days aren't cheap! So stop and consider the impact this will have on your budget, what does that mean for the rest of the week or month? Yes, you could have a new shiny TV, but would that £300-500 have gone further elsewhere in your budget?

#3 - Set yourself some rules

The shopping list rule helps when you're out at the shops, but when you're at home scrolling on your phone and see some clothes on sale, or maybe a new video game, how do you stop yourself from impulse buying? A good rule is a 24-hour rule where instead of making a snap decision at the moment, tell yourself no. Wait 24 hours and reflect on the decision to buy the product. In most cases, the time will allow you to take a moment and make the decision that you may want said product, but you don't need it. Perhaps the sale on the clothes you want may be a good deal, but do you have the money to spend on it?

#4 - Avoiding temptation on social media

Most people these days use social media, I'm sure we all sit scrolling our phones for an hour or two a day. We all get served ads on social media, it's just part of using it. However, one thing social media does is encourage you to follow people, they may be famous, or they may be someone involved in something you enjoy. We all have hobbies, we all have interests, and we'll all follow people on social media as a result of that. That means that these people we follow will be on our timelines pushing products as part of those hobbies and we can all be influenced by this in some way shape or form, sometimes, it's completely unintentional. You could enjoy reading and follow someone who suggests books to read every month in a book club. That encourages you to spend money every month on a book. It may not sound like much, but if a book is £10, you could be spending £120 per year. The best way to stop impulse buying here is to unfollow those tempting accounts. It's a shame to stop following, but the reality is you need to protect yourself and your impulse buying habits from yourself. 

#5 - Create long-term goals

We've spoken a lot so far about short-term solutions. Now we talk about the long-term solution. What does impulse buying stop you from being able to do? Impulse buying stops you from saving money to put towards long-term saving projects such as buying houses. In order to get a mortgage, you would need a deposit which is no small amount of money to most people. If you have a long-term goal such as this, it can help you when taking the previously suggested steps. Instead of buying that new TV, stop and take a moment to consider that the expenditure could put you back in your goal to save for a deposit. 

Save your money!

One of the main reasons to stop impulse buying is to save your money! It's boring, it's hard but ultimately, saving your money in the long-term will be more gratifying than the short-term gratification of impulse buying. It also means that should something happen, let's say your boiler breaks down, it means you have the cash available to cover that cost instead of having to borrow to cover it. 

Financial discipline is difficult, and it's incredibly hard to stop yourself from impulse buying. But by using the steps above you can stop yourself from spending money you didn't expect to, and instead spend it where you need to!

It was easy to get it in the past when the competition wasn't this fierce. But nowadays, with increasingly impressive marketing campaigns and brilliant minds and techniques behind them, it's a little bit more challenging. Your marketing team must come up with brainstorming ideas so your business can compete in today's fierce market. 

Attention can be regarded as a currency. Speaking of currencies, here's an effective way McDonald's Lugano got itself talked about last year. The franchise there educated its team about Bitcoin before enabling Bitcoin payments and went on to advertise its new payment option on social media. Besides being loyal supporters of blockchain technology, the new feature would have been less effective in bringing customers in, were it not for its advertising strategy. There are many examples of companies that look to access a broader customer base and market their innovative payment options on social media as the starting point, so don't be surprised when customers register on Binance to buy Bitcoin and get a McFlurry. 

Today, every marketer strives to create a marketing strategy that impacts customers. But before they're affected, they need to pay attention first. Whether you sell clothes, jewellery, sports apparel, or candles, it's vital to pique your audience's interest in what you're saying.

This article is intended to help you grab your customers' attention on social media.

Never overlook social proof

In marketing, "social proof," or "informational social influence," means that people look for reviews, recommendations, tutorials, and ways others have used that product before buying it. This is why online stores encourage and work hard to get their customers to review their products. This type of social proof works wonders at boosting the number of purchases. 

Here's how you can use social proof in marketing:

• Existing customers and clients. If you partner with well-known companies, publicising that information is another excellent strategy to generate interest in your product or service.
• Testimonials and reviews. Your business might receive reviews and testimonials online that you can share on social media to let people know what others think of your business.
• User-generated content (UGC). By sharing user-generated content on your social pages, you let people know you have happy customers. Instagram is the perfect platform for this.
• Case studies. Find one or several customers you had success with and are willing to answer some questions for your case study.

Build real connections

People use social media to connect with others, businesses included. Having a business social media profile helps build brand awareness, but more is needed to engage with people and drive continued loyalty. To ensure your prospective customers understand your brand's offerings better, there are some steps you can take:

• Respond to comments, even if they're not positive
• Like positive brand comments and comment back with appreciation
• Share fun behind-the-scenes anecdotes about your organisation
• Provide social media customer service by responding to complaints.

As you build a following, engage with your customers, answer FAQs, and troubleshoot problems through private groups. Responding genuinely on social platforms will show the business empathy that customers are so drawn to. 

Drop your advertising budget

Dropping your advertising budget may seem like a contradictory approach. However, look at how many businesses spend enormous amounts of money on ads and marketing only to realise they didn't get the expected ROI. In this case, you should aim to build a service that helps others and gets people talking, meaning you should strategise your branding in a way that will have internet users talk about your business. 

Word-of-mouth advertising is among the most successful and least expensive forms of marketing. Ensure your marketing focuses on making your company a hot conversation topic among your target audience. 

Make snackable content

Smart, snappy, well-written written content is always in demand, but you shouldn't forget that the modern consumer's attention span is more limited nowadays. Avoid lengthy explanations when you can convey your message in just a few words. Create interactive content to boost engagement and let visuals, research, pictures, graphics, and charts do the talking for you, when possible. 

Snackable content is usually used to attract new customers by offering immediate entertainment and enrichment. It's straightforward and easily digestible, and it should be easy for customers to share. Always remember to add value to everything you put out there. No one likes wasting their time in today's busy and fast-paced world. When done right, brilliant marketing content does not feel like marketing content.

Share relevant content

People looking for your company want to find information that helps them solve their problems, so ensure your content reflects that and emphasises your expertise. Content that helps customers can include the following:

• Step-by-step instructions
• How-to videos and articles
• Explanatory content
• Product demos.

Focus on what makes you unique 

The digital world is a noisy place where all products and services look alike. You don't have to reinvent the wheel but tell a different story to stand out from the crowd. Your prospective customers have had their goals, worries, dreams, and problems for a long time and are likely still open to addressing those aspects of their lives.

Get to the meat of how your company can approach them and how your service or product is different and is the solution that other businesses don't offer.

Embrace the power of video 

Even though eye-catching photos and written web content are killing marketing strategies that won't die soon, videos are red hot right now and keep getting hotter every day. They catch people's attention as they scroll through their timelines. Even though your videos stand a better chance of being effective if discovered in the evening when people have more spare time, a quality one should make them say, "Wait, what was that?", and then scroll back to find it.

Extra tip!

Everyone loves to unwind sometimes. Memes that create a sense of humour effectively increase brand awareness because they make customers want to share them with their friends.

One thing to remember is that the memes you choose must be appropriate for your target audience and never offensive. 

It was easy to get it in the past when the competition wasn't this fierce. But nowadays, with increasingly impressive marketing campaigns and brilliant minds and techniques behind them, it's a little bit more challenging. Your marketing team must come up with brainstorming ideas so your business can compete in today's fierce market. 

Attention can be regarded as a currency. Speaking of currencies, here's an effective way McDonald's Lugano got itself talked about last year. The franchise there educated its team about Bitcoin before enabling Bitcoin payments and went on to advertise its new payment option on social media. Besides being loyal supporters of blockchain technology, the new feature would have been less effective in bringing customers in, were it not for its advertising strategy. There are many examples of companies that look to access a broader customer base and market their innovative payment options on social media as the starting point, so don't be surprised when customers register on Binance to buy Bitcoin and get a McFlurry. 

Today, every marketer strives to create a marketing strategy that impacts customers. But before they're affected, they need to pay attention first. Whether you sell clothes, jewellery, sports apparel, or candles, it's vital to pique your audience's interest in what you're saying.

This article is intended to help you grab your customers' attention on social media.

Never overlook social proof

In marketing, "social proof," or "informational social influence," means that people look for reviews, recommendations, tutorials, and ways others have used that product before buying it. This is why online stores encourage and work hard to get their customers to review their products. This type of social proof works wonders at boosting the number of purchases. 

Here's how you can use social proof in marketing:

• Existing customers and clients. If you partner with well-known companies, publicising that information is another excellent strategy to generate interest in your product or service.
• Testimonials and reviews. Your business might receive reviews and testimonials online that you can share on social media to let people know what others think of your business.
• User-generated content (UGC). By sharing user-generated content on your social pages, you let people know you have happy customers. Instagram is the perfect platform for this.
• Case studies. Find one or several customers you had success with and are willing to answer some questions for your case study.

Build real connections

People use social media to connect with others, businesses included. Having a business social media profile helps build brand awareness, but more is needed to engage with people and drive continued loyalty. To ensure your prospective customers understand your brand's offerings better, there are some steps you can take:

• Respond to comments, even if they're not positive
• Like positive brand comments and comment back with appreciation
• Share fun behind-the-scenes anecdotes about your organisation
• Provide social media customer service by responding to complaints.

As you build a following, engage with your customers, answer FAQs, and troubleshoot problems through private groups. Responding genuinely on social platforms will show the business empathy that customers are so drawn to. 

Drop your advertising budget

Dropping your advertising budget may seem like a contradictory approach. However, look at how many businesses spend enormous amounts of money on ads and marketing only to realise they didn't get the expected ROI. In this case, you should aim to build a service that helps others and gets people talking, meaning you should strategise your branding in a way that will have internet users talk about your business. 

Word-of-mouth advertising is among the most successful and least expensive forms of marketing. Ensure your marketing focuses on making your company a hot conversation topic among your target audience. 

Make snackable content

Smart, snappy, well-written written content is always in demand, but you shouldn't forget that the modern consumer's attention span is more limited nowadays. Avoid lengthy explanations when you can convey your message in just a few words. Create interactive content to boost engagement and let visuals, research, pictures, graphics, and charts do the talking for you, when possible. 

Snackable content is usually used to attract new customers by offering immediate entertainment and enrichment. It's straightforward and easily digestible, and it should be easy for customers to share. Always remember to add value to everything you put out there. No one likes wasting their time in today's busy and fast-paced world. When done right, brilliant marketing content does not feel like marketing content.

Share relevant content

People looking for your company want to find information that helps them solve their problems, so ensure your content reflects that and emphasises your expertise. Content that helps customers can include the following:

• Step-by-step instructions
• How-to videos and articles
• Explanatory content
• Product demos.

Focus on what makes you unique 

The digital world is a noisy place where all products and services look alike. You don't have to reinvent the wheel but tell a different story to stand out from the crowd. Your prospective customers have had their goals, worries, dreams, and problems for a long time and are likely still open to addressing those aspects of their lives.

Get to the meat of how your company can approach them and how your service or product is different and is the solution that other businesses don't offer.

Embrace the power of video 

Even though eye-catching photos and written web content are killing marketing strategies that won't die soon, videos are red hot right now and keep getting hotter every day. They catch people's attention as they scroll through their timelines. Even though your videos stand a better chance of being effective if discovered in the evening when people have more spare time, a quality one should make them say, "Wait, what was that?", and then scroll back to find it.

Extra tip!

Everyone loves to unwind sometimes. Memes that create a sense of humour effectively increase brand awareness because they make customers want to share them with their friends.

One thing to remember is that the memes you choose must be appropriate for your target audience and never offensive. 

The US alone spent $43 billion on social media ads, out of which $31 billion was spent on Facebook ads alone. These are just the numbers from digital ad spending. Traditional advertising and marketing methods also saw investments worth billions of dollars.

Marketing is vital to your business, irrespective of its type and size. Financial advisors and advising companies are no different. They, too, need to invest in this space if they want to tackle their competitors. 

What Is Financial Advisor Marketing?

Financial advisor marketing is a type of marketing that helps financial advisors connect with potential clients. Such marketing can be done through many different channels, including online and offline advertising, social media, and networking. Financial advisors are often looking for ways to grow their business and bring in new clients.

This type of marketing helps financial advisors reach more potential clients by increasing their brand awareness. Marketing strategies can help financial advisors establish themselves as leaders in the industry, which will help them attract more clients over time.

How To Ensure Effective Financial Advisor Marketing In 2022

Here are a few tips on how you can ensure an effective financial advisor marketing strategy in 2022:

Understand Your Client’s Goals And Motivations

When it comes to marketing your financial advising business, it’s important to get a clear understanding of the goals and motivations of your target clients. For example, if you’re targeting young professionals who are just starting their careers, they may be interested in growing their wealth and learning about investment strategies that will help them reach their goals. On the other hand, older clients may have different concerns, such as making sure their assets are protected from risk and maintaining a steady stream of income as they age.

Once you understand what matters most to your potential client base, you can tailor your marketing messages accordingly. So, if most of your clients are young professionals who want to take advantage of tax-free growth opportunities while working to build their wealth over time, you might want to focus on an investment strategy like asset allocation. 

Identify A Target Market

One of the first steps to effective financial advisor marketing is to identify a target market. You can't expect to reach everyone, so you need to determine who you are going to focus your efforts on. Are you looking for people with young families who are just starting out in life? Do you want to work with ambitious entrepreneurs who are trying to launch their mermaid tail business? Identifying your target market allows you to pinpoint exactly who you should be marketing toward.

You might want people who are just starting out and don't know much about personal finance, or maybe people who are further along in their careers and want advice on how to retire early. Either way, once you've figured out who these people are, figuring out how to reach them becomes easier.

Nearly 27% of internet users worldwide believe that targeted marketing helps them learn about appealing products and services. The youth feels more positively about target advertising than their older generations. So, you will have an easier time bringing in a younger group of clients with your targeted advertising.

Use Social Media

According to various reports, 62% of financial advisors got new clients through LinkedIn. Thanks to their social media marketing strategies, these advising companies have managed to solidify their online presence. Despite that, only 42% of the financial advising industry is actively using LinkedIn, while a lesser number is advertising or branding on it. In the US, 68% of investment account owners use social media. So, not making use of this opportunity can prove to be a costly mistake. 

If you're just starting out in social media marketing, start small. Pick one platform and commit to posting at least two or three times per week. It's important to keep your posts engaging—you don't want them all coming from the same template. So, try varying the content and types of images you use.

Once you've got the hang of your chosen platform, start expanding into others. So, at first, you might’ve been using only Facebook and LinkedIn. With a bit of growth, you can move to Instagram or TikTok. In addition to using social media for marketing purposes, it can also be used as a way for clients to get to know more about you and what you do.

Email Marketing

Email marketing is an effective way to reach your target audience (especially if they’re from an older demographic) and let them know about your financial services. 

Your email marketing strategy should be tailored to the needs of each client segment. For example, if you're targeting affluent retirees, you might send an email highlighting the benefits of an annuity or other retirement savings vehicle. If you're targeting young professionals, you might send an email highlighting investment strategies that will help them save more money and build wealth.

You can also use email marketing to promote events, such as seminars or webinars. These events are a great opportunity for advisors to share their expertise with the public and build trust through transparency.

If you want to be a successful financial advisor, you need to be able to effectively market yourself and your business. By following these tips and techniques, you can make sure that your clients know what they're getting from you, why they should trust their money with you, and how they can best use your services.

However, the prospective Twitter owner and Tesla CEO insisted that the platform would “always” remain free for “casual users”.

Elon Musk agreed to a $44 billion deal to acquire Twitter last month. At the time, he said that as well as improving the platform’s free speech principles, he was looking forward to “enhancing the product with new features.”

Musk has said he wants to eradicate spam bots from Twitter and “authenticate all humans.” He has also expressed support for a tool to edit tweets that have already been posted – a feature which Twitter had previously confirmed to be in development. 

Musk’s takeover of the social media giant is expected to be completed later this year.

Twitter shares were up more than 5% in the premarket on Monday, following reports from Reuters and Bloomberg that a deal could be reached very shortly. 

Prior to the US stock market opening, share trading in Twitter’s stock sent the price up 5.1% to $51.57. However, this figure is still below Musk’s offer price. 

Per share, Musk offered $54.20 — $43 billion in total for the social media giant, which he has previously accused of failing to uphold free speech.  

While Twitter recently adopted a “poison pill” strategy in a bid to resist a hostile takeover, some investors want to see the social media giant take Musk’s offer into serious consideration.

While it has been praised for its ability to foster creativity and experimentation for both work and learning, concerns have been flagged around its riskiness. These anxieties are particularly apparent in the world of stock market trading.

Companies such as Robinhood have been celebrated in some quarters for democratising the stock market. But regulatory bodies have accused the people behind certain trading apps of manipulating users’ actions in trading. Established investors and regulatory bodies continue to reel from other tectonic shifts in market trading practices, such as the emergence of “meme stocks”, as in the case of the GameStop saga in early 2021.

To refashion a well-worn comparison, instead of likening Wall Street to a casino, is gamification truly turning it into one? Or is the influence of trading apps being overplayed, when the biggest seismic shifts to market trading are driven by social media? This article takes a closer look at these two practices to find out.

Trading has never been more fun

In principle, to ‘gamify’ means to map the mechanics of video game playing onto non-gaming scenarios. As The Conversation writes, game playing influences creativity and learning because it can “lower the barriers of established behavioural norms and routines by offering new rules and sometimes even new realities”.

However, the increasing accessibility of trading due to this added fun factor is being blamed for its destabilising influence. A new generation of young traders has emerged, riding the exciting riptide of market volatility in the same way they would from playing Call of Duty, only with little capital investment. Digital trading platform Robinhood Markets, for instance, popularised stock market trading through in-built reward systems.

Critics of gamification allege that it nurtures an addiction to trading the markets, while simultaneously minimising the dangers and hence distorting the reality of market trading. Robinhood has consequently removed some of its game-like interface features, such as confetti and lottery-like scratchcards, which allegedly incited inexperienced investors to trade the markets in a trivial way that encourages excessive risk-taking. However, these features were defended by Robinhood as a way to “cheer on customers through the milestones in their financial journeys”. By August 2021, the US Securities and Exchange Commission (SEC) began an inquiry into these practices, claiming that they were being used by online brokerages and advisers to encourage people into trading more stock and other securities thereby overtrading their accounts.

Critics of gamification allege that it nurtures an addiction to trading the markets, while simultaneously minimising the dangers and hence distorting the reality of market trading.

A social dilemma

Encouraging younger investors into the market with game-like features is not limited to trading apps. For those with even the most cursory understanding of the stock market, the impact of social media on investor trading has not gone unnoticed, as the GameStop saga highlighted. Dubbed ‘the Reddit revolt’, amateur investors used social media to influence the share price of GameStop, a bricks-and-mortar video game retailer. Members of a forum, named WallStreetBets, clubbed together to collectively buy shares in this faltering company, pushing up prices astronomically and forcing short sellers to buy back their positions in an attempt to limit their losses.

Social media was used to intensify trends and information exchanges, and the companies targeted were subsequently referred to as “meme stocks”. In one stroke, these Redditors sent a message to the hedge funds that were short-selling undervalued underdog businesses. What’s more, by codifying market rules in a David vs. Goliath, game-like battle, much of the complicated jargon around trading was stripped away.

Who holds the key to the future?

The distinction between social media’s influence and gamification is not so clear-cut. Robinhood was the app used by many of these savvy, Average Joes to upend the elite world of trading. But in the end, Robinhood stood accused of siding with Wall Street when it instigated trading halts and limited the amount of shares in GameStop that its users could purchase. As Milton Ezrati of Forbes writes, with GameStop, “there was no good or bad involved, unless stupidly taking excessive risk is somehow immoral”.

A confidence game

Following the GameStop saga, the SEC intervened to ban trading for six company names who were suspected of being “targets of apparent social media attempts to artificially inflate their stock price”. In a similar vein, Bloomberg has argued that Robinhood has made trading “so easy, and maybe even too hard to resist”. Reconfigured, gamified app trading is at odds with serious, long-term investment. It might also blunt the reality of material consequences for parties with professional investments, such as pensions and mortgages, and not just fat-cats.

However, in a recent study, Chief Economist at NASDAQ, Phil Mackintosh, downplayed the long-term influence of trading apps, citing home-working and lockdowns as reasons for the surge in the use of these platforms. In the same report, Sapna Patel, Head of Market Research at Morgan Stanley, also dismissed concerns that gamification is increasing overall risk levels. While increased accessibility may help users navigate the market, the content is what rules the roost: “the what to trade, the when to trade and how often to trade, is driven by social media influencers, whether it's the Elon Musks of the world tweeting about GameStop, or it's the Reddit-like platforms where they're making recommendations. That's what's driving retail to trade more so”. Academic reports have similarly reinforced this view. 

Balancing the scales?

There’s a case to be made for levelling the playing field. And markets are, and always have been, risky places in which to dabble, for professionals and the retail crowd. Gamified platforms do not explicitly encourage this volatility, but they can intensify it. There’s a danger that participants can lose large amounts of money on these platforms, perhaps because certain behaviours are encouraged by design.

Looking back to the events surrounding GameStop in early 2021, we can see how social media sparked an unpredictable contagion. Given the difficulty of regulating social media, this is a broader and more fraught conversation in its own right. After all, it wasn’t until Elon Musk sent one of his infamous tweets that GameStop’s stock price soared like a SpaceX rocket.

In fact, growth hacking methods are one of the ways for businesses to focus on low-budget marketing hacks. This way, you can tap into alternate methods of growth that can help you drive up engagement and sales. Here are some of the best cost-effective strategies that you can use for product promotion.

1. Get Backlinks

Backlinks to your website are an indispensable marketing tool these days. The question is, from where do you get these backlinks? Needless to say, buying them is not a good idea, not only due to the limited budget but also because it's not a good practice. Instead, what you need to do is build partnerships with businesses and platforms that align with the interest of your target audience. For instance, let's say that your platform is offering writing services for students. You will need to identify which websites are usually visited by those looking up 'write an essay for me' on the search engine. This could be academic review sites, student blogs, and such. You can then reach out to these platforms and ask them to link back to your site. This will likely cost you time, but in return, you will be able to boost organic and relevant traffic to your site. 

2. Host A Virtual Event Or Webinar 

Virtual events and webinars have become an increasingly popular way for you to connect with your audience and for them to other people. Especially in the post-pandemic era, this is not only safer but also a more cost-effective marketing method. This also allows you to gain access to a wider viewer list crossing geographical boundaries. As the audience is always looking for educational content, a class or a webinar will be worth their time when compared to content marketing. It will also help create brand awareness while creating an authentic way to connect to people that are interested in your services. 

3. Tell Your Story 

These days, marketing is not only about the product but also about the team and the company behind it. Of course, you might not be able to hire a PR agency to spread the word. However, by putting in some research and time, you can find a journalist or a popular blogger who is interested in telling your story to their audience. If you are new to the market, you will need to create the right pitch for the reporter. So you will need to come up with a message that is relevant to your business and tells why your audience should care about your brand. You can also try platforms like Help a Reporter Out (HARO) to gain more exposure on the media. 

4. Build A Referral Programme  

Another way to encourage your existing users to promote your product is to set up a referral programme. This form of marketing can be automated and get your organic traffic without too much work. In other words, an affiliate programme can help you turn customers into a de facto marketing department. As you can see, this is definitely worth a try and will not cost you much. 

5. Work With An Email Marketing Strategy 

Email marketing is free and powerful, but it can be time-consuming to build your list and set it up to be efficient. However, once you start getting subscriptions, you should also make it a point to keep them engaged with regular content and add value. The data you keep can further help you target specific segments, such as abandoned carts and upselling producers. After all, we all might need a little nudge to finally place that order. 

6. Get User-Generated Content 

Content marketing can be an effective tool to promote your product. However, it can also be expensive, especially if you have to hire a team for the purpose. An alternative method would be to get more content from your existing users. In fact, user-generated content can add to the authenticity of your brand as well. You can motivate your clients and fans to tell their stories and experiences via social media. Then, share them to create more engagement. The chances are your users will appreciate this and try to come with more content. 

7. Engage On Social Media 

There is no need to emphasise the importance of social media in the digital marketing landscape. Everyone already knows it. The key advantage here is that there is little cost involved in expressing your brand's voice on these platforms. You can also cross-promote and generate content across such different networks as Facebook, Instagram, Twitter, YouTube, and more. You can use these platforms to directly dialogue with your audience, provide customer service, and even get access to user-generated content. With consistency, collaboration and commitment, there is no reason why social media cannot become the best cost-effective tool for marketing. 

8. Create Google Business Page 

Although it might seem like an obvious strategy, you would be surprised how many new brands do not have a website and a Google Business Page. Creating these is crucial because the audience needs to funnel into somewhere. Even if you are successfully promoting your product, people are going to rely on Google to find your brand. This being said, make sure that you invest a few hours to set up your business page by providing general information and important links. 

Conclusion 

Marketing and advertising are already established and proven forms of promoting a business. That said, these are not the only ways for you to engage with your audience. If you can get creative and strategic, you can connect better with your potential customers. Invest in relationship-building and word-of-mouth marketing. Make sure that every customer you serve has a positive experience, and that alone can help boost your sales. By adopting the methods we discussed here, you will be able to reduce your marketing spend substantially. 

Amsterdam-based tech investor Prosus NV netted $14.6 billion overnight from the sale of a 2% stake in Tencent, the company announced on Thursday.

A filing from Tencent at the Hong Kong Stock Exchange revealed that Prosus had sold 191.89 million shares at HK$595.00 per share.

“Our belief in Tencent and its management team is steadfast, but we also need to fund continued growth in our core business lines and emerging sectors,” Prosus Chairman Koos Bekker said in a statement on Thursday, hours after the completion of the deal.

Prosus is majority owned by Naspers of South Africa. The Wednesday night sale lowered its stake in Tencent from 30.9% to 28.9% -- a level which the company has committed to not reducing any further for the next three years.

“The proceeds of the sale will increase our financial flexibility, enabling us to invest in the significant growth potential we see across the group, as well as in our own stock,” Prosus CEO Bob van Dijk said in a statement.

Tencent Chairman Pony Ma acknowledged the sale and reaffirmed that he viewed Prosus as having been a “committed strategic partner over a great many years”. He also stated that “Tencent respects and understands” the firm’s decision to sell.

Tencent Holdings, headquartered in Shenzhen, is one of the largest companies in China. The conglomerate focuses primarily on internet-related services and products, including video games and social media.

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Though not a household name outside of China, the company made international headlines as it butted heads with the Trump administration over an executive order banning US firms from doing business with its social media subsidiary, WeChat.

Dogecoin has surged after Elon Musk and other celebrities appeared to endorse the joke token on Twitter.

The meme-inspired cryptocurrency rallied 65% in 24 hours to reach a peak of $0.0844 on Sunday evening before falling back. It regained 19% during Monday morning trading in London, reaching $0.0704.

Dogecoin’s market value reached $10.7 billion at its highest point on Sunday, becoming the tenth most valuable digital coin on CoinMarketCap’s ranking.

Dogecoin was created in 2013 based on the “doge” meme which depicts a Shiba Inu dog alongside captioned text in Comic Sans font.

The currency’s all-time high came alongside renewed attention from Twitter influencers. On Saturday, rapper Snoop Dogg tweeted a picture of one of his album covers edited to replace his face with the dogecoin Shiba Inu, captioned “Snoop Doge”. He tagged Elon Musk in the post.

Musk himself has emerged as a significant dogecoin booster, sending the price soaring with successive tweets about the currency. His late January tweet of an altered Vogue cover entitled Dogue led to an 800% jump in the price of dogecoin.

Musk has publicly said that his “endorsements” of dogecoin are meant as a joke, but his continued tweets have helped to raise the profile of the cryptocurrency and repeatedly boost its value.

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The spotlight thrown on dogecoin by Snoop Dogg and Musk has attracted other celebrity endorsements to the cryptocurrency. KISS singer and bassist Gene Simmons tweeted last week that he had “bought a big position in Dogecoin” and further promoted the cryptocurrency to his followers.

ByteDance, the Beijing-headquartered owner of TikTok, is set to meet its advertising revenue goal for the year, which will place it firmly as the second-largest giant in China’s digital advertising market.

According to Reuters, the tech company is on track to make at least 180 billion yuan (or $27.2 billion) in annual advertising revenue, making up the bulk of its $30 billion revenue goal for 2020. In terms of ad revenue, it is beaten only by Alibaba.

Though TikTok is ByteDance’s flagship product internationally, the social media app contributes little to its parent company’s overall cashflow. Of ByteDance’s ad revenue, nearly 60% comes from Douyin, the Chinese version of TikTok. A further 20% comes from ByteDance’s news aggregator Jinri Toutiao, and less than 3% from its long-form video platform Xigua.

These final numbers will be adjusted by the end of the year, as many of the company’s most important campaigns – including year-end sales – have not yet been officially launched.

ByteDance continues to struggle with an order from the Trump administration ordering it to divest its US operations of TikTok by this Thursday. While a deal between ByteDance and Oracle appears to have been settled, the company lodged a petition with a US Appeals Court late on Tuesday challenging the administration’s order and seeking an extension to the deadline.

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Outside of TikTok, ByteDance is looking to other avenues of growth, with plans to invest 10 billion on its Xigua platform next year. The company intends to increase Xigua’s count of daily active users to over 100 million, while its Douin eCommerce platform is expected to reach roughly 150 billion in gross merchandise value by the year’s end.