TikTok’s finance tags have become a go-to for financial advice and side-hustle tips. But can brands battle through red tape to compete with the creators? For The Drum’s finance & utilities focus, Redpill’s Lija Rahman says… Maybe.
#FinTok, the tag at the center of TikTok’s enormous and still-growing community of finance creators, has captivated millions of users, gathering more than 500 million views.
Clearly, gen Z has an appetite for financial literacy. This presents a huge opportunity for finance brands looking to reach their next generation of customers, but how can they effectively (and responsibly) engage on TikTok?
The rise of #Fintok
Where previous risk-averse generations were focused on saving, gen Z has an appetite for making money work for them. You may have seen videos about creating a ‘side hustle’ or additional ‘income streams’. Examples include investing in housing and Bitcoin, or becoming an Amazon affiliate. Some viewers even seek to replace their entire 9-to-5 income with these less conventional options.
Collectively, gen Z …