Finance Magnates recently served finance companies a generous helping of Reddit marketing advice. Not overly familiar with Reddit? After the recent GameStop, RedditArmy, Robin Hood trading episode that occurred just a few months back, you may want to seriously contemplate Reddit’s niche in this particular sector. Author Charlotte Day makes a convincing case for marking on Reddit, but beware: strategies you employ on other social media networks won’t work on Reddit. Here we’ll take a deeper look at some of this article’s key points.
Here is an excerpt from Reddit Marketing Hacks for the Finance Space by Charlotte Day, published by Finance Magnates 02/27/2021:
“Don’t Act like a Marketer
Reddit is not the place for you to be posting your official company presentation, boring corporate video or repetitive promotional sign up and trade posts. Reddit users hate marketing as a rule. They want to be informed, entertained and engaged. They want to discuss trending issues without your pushy messages. There’s a whole subreddit devoted to mocking tone-deaf marketing so don’t try to play games with this community!
TIP – Interact like a human using gifs, funny posts and comments. Or just sit back and enjoy the community…
Create AMA Posts
AMA or ‘Ask Me Anything’ posts are great for demonstrating brand transparency and individual thought leadership. 86% of consumers say authenticity is important when deciding what brands they like, and over 80% said that they need to be able to trust the brand in order to buy from them. On Reddit, an influencer, executive or team member from your finance company can create a post introducing themselves then encouraging Redditors to ask them questions. Don’t be promotional.
Some examples might be your HR Manager answering questions about working in forex, a company IB answering questions on partnership, or your CEO answering … anything! If you’re going to take this route you need to be prepared to answer anything or laugh questions off with good humour. This is no place for overly sensitive brands or FX companies who don’t want to build human connections.”
Here’s our take on the article’s marketing advice to finance companies:
How to Use Reddit for Marketing in the Finance Space
This isn’t the first time we’ve advised marketers not to act like marketers. We’ve encouraged digital marketing gurus to act like humans on social media networks like TikTok too. It’s a similar case with Reddit. Why? It comes down to the platform’s demographics. Reddit’s most devout users are in the 25-29 age range. As the article’s author says, Millennials and Gen Z users “don’t appreciate banner advertising or spammy ads.”
Perhaps more than other major social networks, Reddit has a slew of unspoken rules that companies will need to manage so they don’t get banned from the Reddit ‘subgroups’ they want to be part of. When you know the rules, you can begin to engage users on Reddit, providing you can be human.
Create Authority for Your Business
How does a finance company ‘get human’ on Reddit? Reddit users appreciate good information as well as witty posts and comments. As the article suggests, finance companies should engage Reddit users with information about trending topics. If you can’t ‘entertain’ the subreddit, you can certainly offer some informational gems that are relevant to the conversation. The mere act of participating in Reddit discussions can win your business SEO points and help you promote yourself as a reliable authority, a brand that this demographic can get comfortable with.
If you’re eager to step up your marketing efforts to include social media platforms such as Reddit, you can partner with Blue Interactive Agency. We can help you create specific strategies for the platforms where you’d like to engage users. Contact us to learn more about our social media marketing strategies. We do ‘human’ like a boss!