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How Finserv Companies Can Use Clubhouse

How Finserv Companies Can Use Clubhouse-01-2

Many have referred to Clubhouse—the strictly audio-based social media platform—as a “voice in the void.” Launched in April 2020 during the beginning of the pandemic, the “invite-only” app provided a sense of connection and conversation when many were isolated.  

In a post by co-founders Paul Davison and Rohand Seth, they explained, “Our goal was to build a social experience that felt more human—where instead of posting, you could gather with other people and talk.”

What exactly is Clubhouse?

The platform consists of various chat rooms (public or private) where users can talk and listen to each other in real time. Users are able to leave and join rooms whenever they want, but they also have the option to schedule and host their own rooms to start conversations.

There’s also an option for users to “raise their hand” and add to the conversation when invited to do so by the host. This app is made for “in the moment” networking and collaboration because the conversations are not recorded. Once it’s over, it’s over.

For more private discussions, there is the option to create “clubs.” These are private rooms created around a specific interest or need that allow users to become members or followers. Only those in the club can listen or participate in conversations.

Why should I use Clubhouse?

This is the million dollar question. In a world filled with different social media platforms, what makes this one worth the time and effort of working it into your marketing strategy? There are some notable benefits.

  • Networking. The platform was developed to focus on thought leadership and networking. Successful business leaders—Tesla CEO Elon Musk, Shark Tank star Daymond John, and entrepreneur Rebecca Minkoff, to name a few—are constantly hosting rooms and sharing their experiences. In fact, many rooms exist solely for networking, depending on your industry. Joining in these conversations provides you with the opportunity to build and share knowledge while expanding your professional network. 
  • Connecting through education. Clubhouse has created a space for financial service businesses to connect with potential clients in a way that didn’t exist before, even prior to COVID-19. Unlike a typical webinar, the platform creates an environment where potential clients can be included in the conversation. Opening up this dialogue allows firms to establish their credibility as experts in their fields. 
  • Raising brand awareness and engagement. This is a unique way to establish and humanize yourself or your firm. Since you’re connecting through voice instead of text, it makes your business more personable.
How should I use Clubhouse?

Once you’ve secured an invite and joined the platform, it’s time to start seeing how you can use Clubhouse for your finserv company. Here are a few ways to get started: 

  • Create a profile that attracts your target market. Right now, Clubhouse requires users to register with real names, not company names. Your username, however, can be a reflection of your company’s name. You’ll want to create a profile around a brand leader, which might be yourself as an advisor or even the founder of your firm. In your profile, be sure to include keywords your target audience might type into the search engine on the app, and make it very clear who you are and what you provide. 
    • Join conversations. Follow industry leaders and join in when they host rooms. This is a great way to expand your knowledge base and start networking.  
  • Host rooms. The only way to build a following on the platform is by hosting chats. Choose specific topics that reflect your firm’s area of expertise. You might host a room focused on cryptoassests and their pros and cons. Or you could host a chat about insurance options for small businesses. Whatever you decide, feel free to promote your chats on your social media ahead of time.  
  • Start clubs. Currently, the rules are that you must host at least three chats before starting a club. There are a couple of ways to use clubs once you are able to create them. It may be beneficial to start a club geared toward your target market. For example, the club “Faith and Finance” has over 1,000 followers. It is a club specifically for Christians “looking to grow and be good financial stewards over God’s resources.”
How do I join Clubhouse?

Originally, the app was only marketed to public figures such as influencers, Silicon Valley investors, and thought leaders in various industries, but it has since been opened up to a more general audience. In December 2020, there were only 600,000 active users, but now there are over 10 million. 

To join, you still need to be invited by a current Clubhouse member and be an iPhone user. Without an invitation, you can download the app and reserve a username, but you can’t join rooms until an existing user invites you. Once you’re on the platform, you will have two invites to send out for others to join.

Interested in more tips on using social media for your finserv business? Click here.