MKTG 6101 Week 2 TikTok on FinTech Post 1
In the financial realm,
TikTok has risen to fame as a platform friendly to cryptocurrency and related
investing. Since Facebook and Instagram have so
many restrictions on crypto advertising and content, TikTok is where it’s all
shifted. And while not all TikTok’s financial content is viable or trustworthy,
there are many strong influencers who trade in concise, easy-to-digest
investing advice and the world is eating it up.
Since most of the popular financial content
is related to cryptocurrency, it would not make sense for a traditional investing
firm like mine to advertise on TikTok. The demographic we are looking for in
the high-net-worth space does not see TikTok as reliable source for financial
information. Many firms discuss how they want to attract millennials as clients
but for a firm like mine we have found that millennials are still in the
accumulation phase of their financial planning process.
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