The use of social media for digital campaigns in the FX industry has been prolific over the last few years. Indeed, so much so that it has attracted the attention of the regulatory authorities with Britain’s Financial Conduct Authority (FCA) having set out a clear set of rulings as to how FX firms, and other such online brokerages, should conduct their marketing efforts via social media.
It is clear that with new and effective methods constantly in demand within a highly competitive market sector, FX firms are looking at how to engage new clients and stay innovative to catch the attention of a global audience.
It is well known that video is now a major tour de force among leading-edge, modern corporations and media entities, YouTube now being the second most viewed website domain on the entire internet after Google, and increasingly, along with LeapRate’s predictions for 2015 which included the entire redesign of the format of FX company websites, video is the future.
Last month, a new application under the name Meerkat, which streams live video via Twitter Inc (NYSE:TWTR), was launched by an Israeli startup and is aiming to become a major contender in digital marketing for online companies.
Israel is not only home to a large number of FX technology companies which provide every aspect of infrastructure from platforms, brokerage solutions and signal providers to social trading, but it is also a powerhouse in terms of technological innovation, with more NASDAQ listed high technology startups than any global region outside of Silicon Valley.
LeapRate today spoke to digital marketing professional Mordecai Holtz, CEO of Blue Thread Marketing, to ascertain his take on this particular innovation.
Mr. Holtz looked at how Meerkat was able to hook so many users and brands in such a brief timeframe, however he considers this to be a topic for another conversation. The real question becomes what Meerkat brings to the ever saturated market of social apps all focused on engaging a community or audience.
“Meerkat offers tremendous opportunities for brands and individuals looking to communicate and engage with their followers. Here are a few reasons why Meerkat is so important in today’s social marketing landscape” explained Mr. Holtz.
In a recent TV interview, LeapRate discussed with Mr. Holtz the potential moce toward mobile first, or mobile led applications in the FX industry. With regard to Meerkat’s functionality, Mr. Holtz detailed that “Live streaming apps may not be new to the market, but what makes Meerkat so amazing is that its mobile first approach. In today’s mobile ready market, the app is designed with the mobile user in mind. The fact that they offer a website is an added benefit.”
“After mobile, seamless integration and user focused product is critical in enabling an app to reach critical mass. A tech influencer coined the term frictionless integration, which pretty much sums up the ease of getting onto Meerkat” explained Mr. Holtz. “There is no editing, no wires, no lag time, it is just a case of downloading the application.”
Mr. Holtz concurs that before Meerkat, broadcasting live events wasn’t easy. He notes the importance of the ability to broadcast in real time, and that Meerkat opens up new avenues for user-generated news analysts and marketers. The fact that BBC jumped on the bandwagon by “Meerkasting” (the official term) updates on the Ferguson protests and vigil, is a sign of the app’s journalistic power.
“Right where Millenials like it”
In today’s market, creating engagement opportunities for Millenials is very important. Mr. Holtz affirms that Meerkat understood that.
“Again, Meerkat gives campaigns the ability to stream content live right where Millenials like it- their phones. Sitting in front of a TV is not how this generation consumes, it’s mobile first. Meerkat will open up new opportunities for engagement and audience development with young people” he said.
The value of Twitter just went up
Until now, the only companies with the ability to reach live audiences at this scale were news stations. Now, the highly connected influencers or campaigns and media outlets with the largest number of engaged followers will have real structural advantages.
“Obviously, the world of digital marketing and social media influencers are already seeing the app’s potential. The Meerkat leader board is topped by the who’s who of social. Including Gary Vaynerchuk, Brian Fanzo, and many others who are maintaining their leader board status on Meerkat’s scale”explained Mr. Holtz.
“The global reach while personalizing conversations makes Meerkat so unique. No other app has been able to broadcast in real time, engage with a community, while offering a one-to-one personal interaction. Social media at its ultimate form. Great content that is targeted and personal. Any brand (personal or business) can now unleash meaningful content while interacting to each user on an individual level.”
Signing off, Mr. Holtz confidently enthused “This is social media’s ROI.”
Photograph: Mordecai Holtz. CEO, Blue Thread Marketing