Have you ever heard of social networking in the financial market? These platforms gained prominence due to some celebrities, such as Elon Musk, who used one of these tools to influence the stock market.
It is possible to follow the stock and currency quotes in the financial market, ask questions, and share knowledge on these social networks. The possibility of interacting with other investors is one of the significant advantages of being part of these communities and, since 2019.
Some bring as differentials simulating operations on the stock exchange, and others still make it possible to trade in the financial market directly through the platform. Are you curious and want to know how to use social networks in the financial market? Then this article is for you.
How can celebrities use social networks in the financial market?
The ups and downs of stock exchanges are pretty standard in the daily lives of those who follow investment numbers. In addition, however, internal issues and more complex decisions include the instability of the economy in countries, international policies, and foreign trade.
However, when someone from the world of the famous decides to expose themselves in an episode involving companies with shares on the stock exchange; anything can happen, from the most sudden fluctuations to the loss of the investor’s spirit. To give you an idea, boycotts, advertising campaigns, and even interviews changed the direction of the shares in the financial market.
After Tesla founder Elon Musk interviewed Vlad Tenev, the founder of the investment app Robinhood, at the launch of the social network Clubhouse; shares in Clubhouse Media Group (CMGR) were up 83%.
The most peculiar thing is that the roles of this company were not related to the Clubhouse platform but rather to a company providing medical treatment and education in the health area. See how misunderstandings can influence the stock market? Be aware that negative episodes can be devastating for companies.
What are the main social networks used in the financial market?
The expansion of social networks used in the financial market has surprised many experts. This is because, in addition to segmenting the public and offering services such as stock exchange simulators. These applications also make it possible for users to trade in the financial market, wherever they are, within the tool itself.
Discover, below, some of the most used social networks in the financial market!
Launched in 2019, Vexter emerged from a partnership between fintech Vexter and brokerage Genial Investimentos. The social network connects investors, enabling interaction between them and the simulation of operations and direct trading in the financial market.
This social network connects to a trading platform linked to the stock exchange, enabling real-time trading without the investor leaving the venue. Interaction is one of Vexter’s strengths.
Through the chat, users can clarify their doubts and hire courses, and access reports produced by the best professionals in the financial market. However, a monthly subscription is required to have access to more advanced features such as real-time operation and access to more detailed reports.
Olivia Social was launched in July 2020, prompted by isolation restrictions triggered by the new coronavirus. The social network was created by fintech of the same name that helps users control their finances with artificial intelligence.
Based on demands from customers, fintech CEOs started to serve via the platform in search of the solution to financial doubts. The goal was also to provide more significant interaction with users. Olivia Social’s differential is that exchanges and publications can be done anonymously. This, according to the founders, is to make users feel more comfortable.
In the feed, the contents are classified by categories selected by the user, which identify their publication. An internal team also moderates the content and an algorithm to inhibit offensive and false messages.
Robinhood is one of the best-known apps in the financial market; it gained even more attention after Elon Musk’s episode. The tool offers autonomy to independent investors, but the unusual movement on the stock exchange made the company impose limits on its platform.
According to the founders, the blockade is due to the “current volatility of the market,”; also triggered by the unusual stock exchange movement in the United States. In addition, due to adverse developments involving the platform, the app maintains a negative reputation.
How can a company’s visibility influence its roles?
Basically, for trust. You see, when you need to buy a product and decide on a brand, the most common thing is to look for people’s opinions and research the company’s reputation, right?
So, when you find facts and negative references about a brand; even if the company has a discourse of “solidity and trust,” it is difficult to trust its products and services.
Therefore, credibility is fundamental and directly impacts the value of companies in the market. That’s why it’s so important to avoid situations that might jeopardize a company’s image.
Several business cases lost (and still lose) value in the stock market due to misunderstandings and even situations that happened. It’s the same with politicians.
It is possible to conclude that the social network will change the stock market, as it did with politics. In this scenario, thinking about strategies to protect the company’s image and gain the trust of stakeholders is essential. It is possible to guarantee the rising numbers on the stock exchange and ensure their credibility on social networks.
Why is it important to keep an eye on what you can and cannot do on social media?
Reputation, credibility, and trust are sisters that go together. But how to ensure that a company’s image is preserved?
When content production is faster and faster, this can be an “almost impossible” task; as people are free to say what they want. But it is the role of companies, especially their managers, to be attentive to details and information to avoid damage to the brand.
In this scenario, monitoring social networks and all other online and offline communication channels is necessary. In addition, it is essential to be prepared to respond quickly to fake news and other circumstances that may harm the company; such as conduct involving celebrities and the brand of your business.
The production of relevant content, such as articles, videos, ebooks, and email marketing; is also essential to effectively position the company in communication channels, including social networks in the financial market.
Remember that you will find people willing to interact on these platforms; and the more aligned your brand communication, the better the results. In this scenario, it is also worth betting on digital influencers. That’s because people give more credibility to other people.
Therefore, the brand’s humanization is also essential for success in brand valuation in the financial market. Bet on clear, concise language. In this way, the client understands that the brand dominates the subject of the segment it is part of, increasing the chances of gaining trust; which allows for more lead conversions.
How to use social media in the financial market?
Social networks in the financial market follow the same premises as traditional social networks; with the difference that the content is aimed at people who already invest in the stock market and those who wish to support it.
With that in mind, here’s how to use social media in the financial market!
Share content from secure sources
To strengthen the community, you need to share information from trusted sources. That’s because the purpose of these social networks is precisely the exchange of ideas and information between investors. But, unfortunately, wrong, inaccurate, and even lousy information can cause great inconvenience.
Interact with other users
Interaction is a basic premise of social networks. Therefore, comment on publications and contribute whenever you think you have the necessary knowledge to add to the community members.
Produce your content
In addition to sharing posts from other media and users; you can also generate your content and encourage the participation of other members. With this, the social network in the financial market becomes more interactive and also informative.
Therefore, it is evident that using social media in the financial market requires a strategic look to take advantage of the best opportunities. Furthermore, digital marketing is expanding every day; and being aware of the possibilities of interaction with the brand helps your company position itself as a reference in its industry.