TikTok Financial Services Content Opportunity Quadrants Q2 2020

Key Takeaways

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In Q2 2020, the top content themes for the Financial Services Industry on TikTok were the following:

• Finance Book Recommendations: BookTok is an online TikTok community where users post their book recommendations. The reading community on this platform has grown tremendously, with over 21 billion views with the hashtag #booktok. Personal finance books are a popular topic amongst the BookTok community to help viewers take charge of their finances and work towards their financial goals. 
• F.I.R.E (Financial Independence, Retire Early) Tips: The FIRE movement has gained traction amongst Millennials and Gen Zers as more and more young people are looking to gain financial independence and retire in their 30s and 40s. Popular TikTok videos provide tips on how to retire early such as investment tips, how to negotiate salaries, and side hustle ideas.
• Finance Tips for Teens: Over 60% of TikTok users are Gen Z, and they are highly interested in personal finance and investing but lack financial education. Since most teens do not have a steady stream of income, popular TikTok videos give simple tips to teens on how they can save money and budget for various events such as prom or graduation. 

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TikTok is a major channel whitespace opportunity for Financial Services brands to reach their audience in Q2 2020, according to RightMetric’s Digital Whitespace Map™ Analysis.

To see other channel whitespace opportunities for Q2 2020, see the Financial Services Digital Whitespace Map™ → 

To see content opportunities on TikTok, continue reading.

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TikTok content the audience has been the most interested in Q2 2020 includes:

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While the majority of TikTok content in the finance space has focused on:

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The financial services TikTok content whitespace opportunities include:

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Content to avoid due to low attention and high competitor saturation in the finance space include:

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Top TikTok Content Theme:

#1. Finance Book Recommendations

#BookTok

BookTok is an online TikTok community where users post their book recommendations. The reading community on this platform has grown tremendously, with over 21 billion views with the hashtag #booktok. 

Personal finance books are a popular topic amongst the BookTok community to help viewers take charge of their finances and work towards their financial goals. 

Tactics to Implement:

• Use trending hashtags such as #LearnonTikTok & #BookTok and trending sounds
• Add in captions to your video, TikTok offers auto captions 
•  Keep it short & simple, provide a 2-3 second brief description of the book or simply show the cover

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#2. F.I.R.E Tips

Financial Independence, Retire Early

The FIRE movement has gained traction amongst Millennials and Gen Zers as more and more young people are looking to gain financial independence and retire in their 30s and 40s.

Popular TikTok videos provide tips on how to retire early such as investment tips, how to negotiate salaries, and side hustle ideas. 

Tactics to Implement:

• Add in an enticing prompt or question that your video is going to answer (i.e: “How to retire in 5 years!??)
• Include a CTA in your caption (i.e: “tke my free money quiz in my bio for personalized resources!)
• Create a playlist of related content to keep viewers engaged on your profile

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#3. Finance Tips for Teens

How can teens save money?

Over 60% of TikTok users are Gen Z, and they are highly interested in personal finance and investing but lack financial education. 

Since most teens do not have a steady stream of income, popular TikTok videos give simple tips to teens on how they can save money and budget for various events such as prom or graduation. 

Tactics to Implement:

• Include an introductory title to the video so viewers know what to expect (i.e: “5 money tips for young people)
• Ask a question in the caption to encourage viewers to comment and engage (i.e: “Leave any other ideas in the comments”)