Marketing Insight: The Power of TikTok

Unlock It With a “Fin Tok” Strategy

An Introduction to "Fin Tok"

The financial Tik Tok space, recently dubbed “Fin Tok,” refers to the library of Tik Tok content created by users about financial topics. Among Tik Tok’s general audience of 138 million monthly active users in the U.S., 78% of these users are between 16 and 39 years old. It is essential for credit unions and banks to interact with as much of this demographic as possible to establish a sound future for their institution.

As these generations move into significant financial decisions such as obtaining new credit cards, student loans, home buying, and more, they actively seek advice. LinkedIn reports that 59% of Gen-Z is willing to learn new skills to increase their income. When competing for “Fin Tok” viewers, certain credibility comes into play as a financial institution against a typical finance influencer. This creates an outstanding opportunity to drive sound financial decisions among followers already banking with you and the general TikTok community with reliable financial information from the source.

Picking the Right Topic

The first step to making “Fin Tok” TikTok video content is to pick the right topic. The most popular topics in TikTok’s financial library are personal finance advice, financial literacy resources, and investing.

Personal Finance

When it comes to personal financial advice, a topic relevant to current market conditions or significant life events such as money-saving tips for college students at the beginning of the school year or tax filing tips during tax season are great examples.

Financial Literacy Tools

Financial literacy resources offered by your bank or credit union should also be shared at the right time, as these topics pertain to current market conditions or significant life events. Some examples would be sharing the benefits of using the institution’s online financial calculators for those financing their first car when car manufacturers announce new annual models or available first-time homebuyer programs to help brave unfavorable markets.

Investing (In a Financial Future)

We don’t recommend promoting Dogecoin, but other investment topics such as how to reap the benefits of starting retirement saving early or assessing an investment in education are among more appropriate topics for a local bank or credit union to create content around.

Content Tips

TikTok is most known for its dance challenges and lip-synching videos, so it’s no surprise that the most viewed content on the app can be classified as entertaining, but that’s not all. Try these three tips for creating content proven to drivesTikTok engagement and growth.

Keep videos bite-sized and straightforward with an optimal length of 15 to 30 seconds long, or post as a series to maximize account engagement.

Mix in some humor to tap into the 535 billion hashtag views in the entertainment category to create steady TikTok account growth.

Use trending video elements (sounds, filters) found in the discover section to be relatable among younger generations and unlock the potential of TikTok's algorithm.

Check out These “Fin Tok” Video Examples!

Is your community bank or credit union looking to unlock TikTok’s potential? Strategis is a full-service marketing agency developing strategies proven to increase the (ROI) through a wide range of methods. Contact us today!

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