There are more ways to earn money through your trading / investing skills than just the markets. The current population needs your guidance to improve their financial habits. You can fill the gap with your expertise, for which building a loyal base for your services is pivotal. Know how you can use the power of social media to your advantage to fulfill this goal.
Being on the right social media platform is a catalyst in building authority since it lets you connect with your patrons more deeply.
These are the best social media platforms to be on:
Before we jump into the different types of social media platforms, let us tell you about one of the most unique platforms for stock experts out there: Tribe. Tribe is India's first platform for stock advisors, that helps you share content (especially stock tips), manage your subscribers and monetize! Tailor-made for experts like you, Tribe enables you to share your trade tips seamlessly across social platforms and also proves your credibility by displaying the success of your trades. Here is a quick demo to get you started:
Every social media want what YouTube inherently has: video content. Video form of media has gained exponential popularity since its inception and it ain't stopping anytime soon. The personal touch, audio-visual effects, and entertainment factor of video are supreme to any other form of media.
YouTube, full of videos has the highest watch time among all social media channels and is now the world's fast-growing search engine. Its number of users are on an incredible uptick, as seen by a Statista study:
Another advantage worth noting is that as an expert, video form allows you to explain concepts to your followers in-depth, which assists you in building authority as an expert. Live streaming is also a feature within YouTube that enables you to explain your trading methods while you're at it.
However, one major problem is that producing quality video content consistently is not an easy task. Correctly using filming gear, editing, and coming up with content consistently is a tough job and may take time to master. Despite its setbacks, efforts put in growing your YouTube channel with a loyal audience are worth it.
2) Facebook and Instagram
Currently renamed as Meta, Facebook is one of the first and widely used social media platforms in the world. Arguably its fastest-growing platform Instagram is a place no one wants to miss out on. IG also proves to be the media having its highest population in India, say sources:
The demographic composition is dominated by youngsters, both millennials and Gen Z; who are actively looking out for financial and stock market advice and are the ideal target group for stock market experts. Not to mention that 'finance creator' is now a viable career option, creators referring to those who produce content around educating people on personal finance, stock markets, credit practices, etc. Instagram, especially the 'Reels' feature (short video format) has been given credit for the growth of creators here.
Instagram lets you post only visual medium, ie. pictures, and videos. This characteristic has resulted in the platform having the highest number of active users, which has helped improve the quality of leads in general, which you as an expert can take advantage of to grow your audience.
It also offers special insights into audience behavior that lets you analyze your content and tweak it wherever necessary. Many traders and stock market experts have proved the power of this platform by building a loyal audience to whom they sell courses and offer mentor-ship.
That being said, it's not all that easy. Since most of the people are on IG, the number of people interested in finance-related content may filter out to be less. Though growing attention to money and investing is witnessed, it's difficult to filter the crowd every time. An eye on insights and constant iteration to your content should, however, help you build a base, in a short period.
An alternative to a blog, a blog-type social media platform called Reddit is excellent for giving you organic reach. Reddit is mostly composed of people who love text-based content, which is intellectual and informative. Sharing your insights about market conditions and the economy as an expert is a great way to build a loyal following that trusts you.
The platform has high engagement and its patrons often continue the conversation around a topic you write about, which helps you build a rapport with them. Such attention makes this place perfect to share your research and analysis, though remember to support them by numbers.
A subreddit is like a page, where different members can post content related to the topic it was started for. The tough part here is that moderators of these communities are strict and might restrict your content if it doesn't fall within their guidelines.
Anyway, Reddit remains an ideal platform for sharing your insights and research to build a highly engaging audience.
Welcome to the social platform where the bulk of finance-loving people are. A great platform to get you a filtered and targeted audience, 69% of Twitter followers of brands purchase from them. Stats don't lie!
One of the main platforms with the most active celebrities, don't underestimate the power of this one. Take Elon Musk for instance!
A trader wants to stay on top of news as well as become a creator. And Twitter is the best place to be since it's a feed full of people sharing their opinions on news, market movements, and companies in general. You can also customize your feed by joining certain topics and lists, like 'stock markets', 'market news', etc.
Short and quick tips, listicles, etc is what grab most eyeballs. Since mostly short-form text content is what Twitter is known for, using images and videos in your content piece will make it stand out. But given the growing number of users and short life of a post, frequent posting is a must to make a mark here.
How to choose
Being omnipresent is impossible. Hence you should give due importance to choosing the right platform.
For starters, research a little and try to figure out where your target audience is. For example, if you want to teach teenagers about personal finance, Instagram is the way. But if you are someone who wants to teach advanced trading, YouTube and Twitter may be a good beat since people there are already aware of the basics and may be interested in learning more.
Although remember that it is you who is going to produce content regularly, so keep in mind that the platform you opt for is akin to your comfort level and interest, otherwise, you're likely to give up soon.
Finding the perfect blend of where your audience is and what interests you is the answer.
To monetize your trading/investing knowledge and experience outside the markets, it is necessary to build your online presence, so that your credit can attract the audience you are looking for to sell your subscription or mentorship program.