While there’s no shortage of ways you can spend your time as a forex affiliate, it’s probably a fair statement that you’re always optimising for either audience growth or revenue growth.
One of the biggest questions we hear from affiliates involves how to prioritise social media and to what degree. It’s no secret that for a lot of people, social media is their primary source of information, or at the very least the starting point from which they begin searching for information.
Twitter in particular has a large and thriving community of investors and traders that exchange ideas, information, tips, tricks, and heated discussion.
The Twitter Opportunity
The microblogging site has changed a lot since its inception in 2006. For starters, its once-iconic tweet length of 140 characters has recently doubled to 280.
Twitter also recently rolled out the “Threads” feature, which allows users to collect related tweets into a single thread, ideal for introducing longer ideas. Threads make it much easier to string together longer stories in a cohesive way, which many traders are taking advantage of to talk in more detail about the many complexities of the markets.
Be Ready To Write!
Because of these changes, there’s a lot more high-quality writing on Twitter than ever before.
It’s worth noting that Twitter still caters first and foremost to written content as opposed to videos and photos – so if you’re thinking of leveraging the massive trading community on the platform, you should be prepared to write!
Nearly 246 out of Twitter’s 315 million users are based outside the US, and nearly 70 percent of users are male. According to Hootsuite, 57 percent of users are between twenty-five to forty-nine years old.
Now if that sounds like the basis of your typical trading audience to you (it does to us!), let’s discuss how to use Twitter effectively…
How Do People Use Twitter?
Before we talk about how to grow your followers on Twitter, there are two ideas that you should take as a given when it comes to how people behave on Twitter:
- People follow people, a lot more than they follow brands
- People follow accounts that tweet consistently and predictably
Let’s explore each idea in more detail:
People Follow People
If you’re already on Twitter, take a moment to scroll through your feed. How many brands do you follow compared to people? Chances are you follow 90% or more individuals.
Now take a look at the brands you do follow – and you may find that they have something in common.
They probably have a consistent and human tone of voice – and they probably tweet like they’re a person, not a company.
Even when we’re trading or investing, we’re social creatures at heart, and we’d rather hear from people than faceless brands.
Be Consistent, Be Predictable
People on social media are usually looking for one of two things: entertainment or education. As a forex affiliate, your account will likely need to fulfil the second need.
Your audience doesn’t want a video of you at the fairground – they want to learn about subjects like technical analysis, economic news, signals, trading courses and important calendar releases. So a good forex affiliate tries to make sure that’s what people can expect!
What can people expect from you if they follow you?
The more consistent and predictable you are, the easier you’ll find it to build a following, because it will be clear to potential followers what they’ll gain by following you. If you’re tweeting about trading, cricket, veganism and fishing, you’ll likely miss your mark on all fronts and gain very few followers. Make it clear what you’re offering and stick to the topic.
Grow Your Followers
So, how can you make the most of Twitter as a forex partner? Quite simply, it’s by posting consistent, high-quality content. You’ll have an advantage over other FX affiliates if you:
- Post consistently
- Post about a consistent topic (forex, crypto, news)
- Engage your followers and other accounts about those same topics
According to Pew research, the top 10 percent of Twitter accounts are responsible for 92 percent of all tweets on the platform. This stat goes to show that consistent Tweeting (not to be confused with spamming) is really the key to getting yourself noticed and followed.
The most prolific users tweet on average 157 times per month, which works out to around 5 tweets a day. For an industry such as trading, with so much to learn and so much happening every day, that should be an easy target!
The more you tweet, the more likely it is that you’ll create something that resonates, which means you’ll get more impressions, more retweets and more followers. It seems obvious, but it bears repeating: in order to gain followers on Twitter, tweet!
In another recent change to the algorithm, Twitter expanded the reach of a person’s posts beyond their followers, and now displays tweets from accounts that people you follow have engaged with, even if you yourself are not following the account.
This provides a huge opportunity for you as an affiliate, because it means increased exposure to people who are not yet in your network.
The “Community” Opportunity
One of the best ways to approach building a following on Twitter is to integrate into the different Twitter “communities”.
You’ll often read or hear references to “trading Twitter” or “investment Twitter”. These phrases refer to Twitter communities that exist as ideas, but don’t have anything official that binds everyone together except for a passion for conversation centred around the same subjects.
These communities form organically around certain topics and discussions – like technical analysis, algo trading, trading tips – or they can refer to smaller communities such as the New Zealand dollar trading community, and so on.
The “community” refers to the people engaged in these conversations, and you can find yourself inside the community simply by following and engaging with the accounts that are actively tweeting about a topic.
Often, users will keep Twitter lists of the key accounts active in each community. For example, take a look at this Twitter list called “Trading”, set up by a Twitter user to follow the voices they find most useful in the community.
By searching for reputable lists, you’ll quickly learn what the community is like, and who the most active participants are in each community. And by embedding yourself within that community, you can start to build credibility and relationships within that space.
The Forex Partner Approach To Twitter
Start by leaning into the idea that people tend to follow people. Focus on different verticals within the trading space, such as forex, crypto, stocks, news or technicals.
Don’t repeat or regurgitate content, find your own voice, contribute to discussions in communities, and you’ll find your voice is amplified by your users and the Twitter algorithm.
Here at TIOmarkets, we have an incredibly talented team who focus on helping you get the most out of your forex partnership in order to maximise reach and, ultimately, revenue.Get in touch with us today to learn how you can use social media, or any other medium, digital or offline, to scale your forex partnership business by several multiples.
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