I strongly believe that IFAs can immensely benefit by using this micro blogging site. It is a repository of ‘collective intelligence’ from thought leaders which is not available via traditional channels. However, IFAs should first need to learn new insights and gain perspective from original and curated content to use Twitter efficiently.
The key question is how will IFAs filter the relevant ones from 500 million Tweets per day?
Twitter is like a massive library where one needs to use relevant tools to shortlist the relevant content. The intent of this article is to share tools to mine relevant content to help IFAs grow business.
Twitter has around 24 million active users in India. However, only a few IFAs are active on Twitter.
I would divide IFA users in broad four categories.
- IFAs who ignore Twitter completely
- IFAs who have created their account but rarely login to view.
- IFAs who spend time on Twitter occasionally.
- IFAs who are pro / active users. I assume these IFAs spend at least half-an-hour daily on an average.
Category 1: IFAs who ignore Twitter completely
Please bear in mind that the purpose of Twitter is not the same as Facebook. Let me share a few examples.
Wouldn’t IFAs like to browse through these quality conversations, which can help in their client meetings? My advice to this group is to use Twitter at least for three months and then arrive at a conclusion. Please note Twitter is a discovery platform.
Category 2: IFAs who have created their account but rarely login to view.
It is useful to access Twitter through both app and desktop as per your convenience. However, you should know what to tweet and whom to follow? In my view, IFAs should read the tweet conversations. Apart from suggestions offered by Twitter to follow, searching based on relevant hastags will list new relevant names.
Please refer to the image below. Searching this way, you may find new names / contacts to connect.
#Hastag search may be a good starting point to build usage of Twitter as IFAs may end up connecting with more Influencers
Category 3: IFAs who spend time on Twitter on ad-hoc basis.
If you follow too many accounts, you may end up missing crucial information. Do not worry; you should take help of “Twitter Lists”. Twitter list is a handy feature for organizing Tweet reading. It is an effective way to follow Tweets or conversations. In other words, instead of browsing through Twitter main page / wall one should switch to Lists directly. Please refer to the image.
Just like you choose a television channel, you can browse through the ‘Twitter wall’ and filter what kind of content you want to consume. You can either be a part of a list or create your private / public list.
Once an IFA creates a preferred list, then the next step is to start using https://tweetdeck.twitter.com/ through a desktop/laptop. TweetDeck allows making a customized columns based on your preferances. This will save lot of time and can help IFAs to read relevant Tweets at one glance.
Category 4: IFAs who are Pro / active users in Twitter.
Some IFAs have been tweeting original and curated content. I recommend to these Pro users to start using hashtags as part of their Tweets. This will help IFAs categorise their content. Users who are not following these IFAs may be able to view their Tweet in hashtag search. In future, every Tweet will leave behind a trail about you and your perspective. It is interesting to note, that India has emerged as Twitter's fastest growing market in terms of daily active users. The daily active users almost grew 5 times as a market than the global average.
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IFA category |
Recommendation |
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IFAs who ignore Twitter completely |
Follow only relevant people and spend 15 minutes reading their tweets. |
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IFAs who have created their account but rarely login |
Start searching by using #hastags in Twitter app /desktop |
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IFAs who spend time on Twitter on ad-hoc basis |
Create Twitter Lists and use https://tweetdeck.twitter.comvia laptop / desktop |
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IFAs who are Pro/active users |
Use #hastags as part of your every tweet. Join lists and discussions in the relevant subjects. |
Shri Harsha K is Head-Digital Platform, Axis Mutual Funds.
The views expressed in this article are solely of the author and do not necessarily reflect the views of Cafemutual.
Disclaimer: The content of the article are generic in nature and does not represents views of Axis Asset Management Company Ltd. (Axis AMC). Reference to platforms or applications are just to explain the concepts of systems and are for illustration purpose only. No representation or warranty is made as to the accuracy, completeness or fairness of the information and opinions contained herein.
