For those of us invested both financially and emotionally in the markets, it is essential to be able to keep track of what is going on and to know how it is doing. It is important to be aware of the latest movers, whether they go up or down, and to know how the economy is going to be affected as events unfold. In order to do so, we need to rely on information coming through from various different sources in real-time. This is essential for anyone involved in business.
Those of us heavily-involved in this sector have our favourite sources of information which we rely on and know we can have a look at as the day wears on. Media such as The Financial Times, The Economist, Bloomberg and The Wall Street Journal are some of the most trusted sources which offer us the information we crave and have done so for decades. However, as the world advances, media advances with it and the business media landscape has had to evolve at the same time. This has led to a large migration from traditional print media to 24-hour television channels and, later, to online media as the advent of the Internet saw numerous websites pop up, both from established sources and from newer ones.
There has also been a rise in financial bloggers as the Internet has provided more people with the ability to give their opinions and takes on what is happening in the financial world. This is good for business as more people with more viewpoints get to have their say and there is more content from different sources being produced, meaning that you will never be left wanting.
The role of social media in the financial world
The Internet has led to new and exciting ways to interact with news about business and the economy and it has also led to innovative ways to spread information about them. The most prolific source of content on the Internet these days is social media. While it may not yet be seen as going hand-in-hand with this area, it is one to keep an eye on.
Social media, through a variety of different brands, connects billions of people around the world and allows them to share their ideas and opinions for eveyone to see. In addition to this, it has also proven to be a place for businesses to get involved and connect with customers, both established and potential, in a less formal setting. Businesses have taken note of this and millions of social media pages have been set up by companies with the purpose of using social media to promote their products, services and brands. This has led to users of social networks actively engaging with businesses in a way that hadn’t happened before.
For example, 80% of Instagram users follow at least one brand on the platform and 60% of them stated that they have a product which they first discovered on social media. There is clearly an interest for these users in the world of business to some extent and it is one that people operating in this sector should be made aware of.
Which social network should you focus on?
If you have an interest in business and are looking for your opinions and ideas to gain more traction then social media is the way for you to go. There are less barriers to access in comparison to other sources and, with the potential audience to be had, you can really make a name for yourself. The social network that is grabbing all the headlines right now is Instagram. This is partly because of the large number of users it has (more than a billion of them are active every month and half this number are active every day) but it is also because it has an easy-to-use format and there is a wide range of ways to present and consume content. While business may seem to be somewhat out of place in such an informal setting, there are just under fifty million posts using the #business hashtag at the time of writing. As for all those traditional reference points for business and economics we mentioned in the first paragraph? They all have Instagram accounts. Evidently, there is demand among its users for content related to this sector.
How to make an impression by yourself
If this has been enough to convince you then you need to go out and get involved for yourself. The important thing to know about Instagram, and all social media, is that the more popular your account is, the further your message can reach. To this end, you need to work on building up your profile’s interaction with other users. Hashtags are one successful way to do this. Hashtags enable you to categorise your content and people who search for that hashtag will be directed to your posts. This is particularly useful if you are posting about a very specific topic. Additionally, and in keeping with the theme of our article, you can invest in your profile by paying for the engagement features you need to reach a wider audience.