I know Freetrade is always looking to expand and sign up new members which their doing a fantastic job at and trying to close the gap with T212. Has Freetrade done any market research into TV advertising? Surely this is an area where the business could reach a huge audience with millions of potential customers.
Iām sure TV advertising is expensive but could well be worth the expense if the uptake is positive, thatās why I was asking about market research in the first instance to guage the potential. Demographics would need to be carefully thought out such as, target audience, channel choice, time of day, etc, etc.
Further crowdfunding rounds could bear the brunt for expanding commercial advertising
No itās important to grow sustainably for the least amount expense. Customer support is struggling to keep up with demand and they need more staff. Flooding the app with tens if thousands of users day would probably overwhelm it. The cost of signing up a user is around Ā£11 I think the last deck said. TV advertising would be probably at least 10 times that at Ā£110 per user.
Currently advertising on youtube and Facebook targets specific groups of people based on their search data which makes it cost effective.
I genuinely canāt remember when I watched anything live on a UK commercial channel let alone pay attention to adverts. Not really sure TV advertising would suit the demographic Freetrade are after.
I believe the better āadvertisingā is made by your own customers through reviews, whether on social media, app stores or rating sites like Trust Pilot, because it says more about the quality of your work and inspires confidence in who is looking for a broker. So, in this case, I think customer service is a priority because as we say in my home country, a satisfied customer comments with two friends about it, but a dissatisfied makes his criticism for about ten.
In addition, I think social media is a more accessible path and with the differential of the company can effectively communicate with its customers or potential customers
I like this butā¦ it would likely fall in the advice category. Blog posts are ok, as long as they focus on education rather than advice. Educational ads!?
Coming from a Media Agency background and being an investor in Freetrade there would be no point in them doing TV advertising currently. The current strategy of word of mouth and social is key in getting cost effective sign ups that drive further cost effective growth.
There are weaknesses with Digital, Social (Facebook etc) and YouTube like look-a-like targeting with 1st party builds, viewability being ridiculously low after 3 seconds etc.
It would be interesting to see what the lifetime/yearly value of a freetrade user is vs cost of acquisition. Slowly over time it will become more expensive and that is when other media should be considered. TV would drive demand but even then I wouldnt really use it. Outdoor would be better with live served Programmatic digital spaces when we return to a more normal way of life.
Its true. We donāt even have a TV connection or aerial. We use WiFi on our āTVā to access I player for kids repeats for our lassie. I spend my time watching YouTube-mostly educational documentaries and you tube investing channels again on the TV via WiFi. TV is a complete waste of time, filled with useless ads, a hopeless left wing agenda and extreme bias on even the news. All the programs and shows are a waste of a life IMO. I get my news from sky app on my phone. Flick through it a few times a day.
All the shows on TV are a waste of time but you love YouTube, thatās a rather hilarious statement. I rather like BBC programmes and some scandi dramas. I donāt have a TV but I think these days when people say TV they just mean watching a program through any medium. Canāt say I watch YouTube as it has loads of adverts and lots of crap, Iām sure there is good stuff but I mostly just buy books still.
Some great research heads on youtube that know a lot more than me. Theyāve helped make me a lot of money. Iām not watching gaming or movies. Iāve started watching the University of Massachusetts lectures on crypto and blockchain. Its brilliant
YouTube has the best quality content in terms of breadth and depth, its just extremely dilute. What I mean by that is that on any topic, no matter how niche you will find 1000 hours of very high quality content, the downside is there will be 100,000 hours of rubbish.
TV has to be made for broad audience to justify the cost, obviously there are many formats that necessitate this because the content is so expensive to produce, but most content costs almost nothing to make.
Take documentaries, most TV documentaries suck because they are puddle deep. If you like space you might get a 45 minute documentary on the Apollo program, on Youtube you could watch hours on the specifics of a Full Flow Staged Combustion Cycle engine.
On TV you get The Gadget Show, on Youtube you get LTT, MKBHD, Gamers Nexus etcā¦
Avoid stock pickers because unless you have a basic understanding you wonāt be able to determine how credible their research is, youāll just be taking their DCF model at face value.
Instead look at general investing education like the following, they are all very accessible and will enable you to make your own decisions.
I occasionally watch tv and adverts just get muted.
I donāt have the patience for YouTube videos, would rather read transcripts so I can go at my own pace (which might be faster or slower than the speed at which the person can speak).
Point me to any blog, website or article which someone has flagged as TL;DR and I will happy take the time to read it.
When I was commuting, the adverts which I noticed were the ones on the sides of buses, in the tram, at bus stops and on billboards. Iād guess that this type of advertising medium might be cheaper than tv ads?