Skip to main content

State of Social Media: What Financial Brands Need to Know about Clubhouse

By July 27, 20214 min read

Since Facebook, there have been only a few main players in the social media game. Instagram, Facebook, and Twitter come to mind. It’s rare to see a new social platform launch and be competitive with these main players in the social space.

Enter: Clubhouse; the exclusive, audio-based chatroom social app.

Although new to the social space, it’s not all that small. Clubhouse has reported 10 million active users on a weekly basis and with more than 300,000 chatrooms created each day. Most users spend an hour each day on the app. Content creators thought that video was the new static content, but alas, audio is the final frontier.

We’ll break down what Clubhouse is, how you can reuse other types of content for an audio-based platform, how to create audio content, and how to use Clubhouse when your ready to dive into the audio space.

What is Clubhouse?

When Clubhouse first launched, it was an exclusive, invite-only community. You either had to get on a waitlist to be admitted into the app or invited to join by another user. Since launching, they’ve announced that they are now open to the public, making this platform and audio-based content more accessible.

Think of Clubhouse as a live podcast, but with an audience to chime in.

Clubhouse has changed the game when it comes to the type of content we consume and how we interact socially on an online platform. We can see other social platforms working hard to follow their lead; we saw an example of this shift earlier this month with Instagram’s announcement that it’s no longer a photo-sharing platform.

Why this is important to financial brands:

  • You have the ability to host real-time conversations with people from anywhere in the world on a variety of topics.
  • You can connect with other members who are in your industry in the form of high-value conversations rather than pre-produced content.
  • Because of its previous exclusivity, Clubhouse users are loyal to the platform.

What about my video content?

When creating content that is engaging, relevant, and digestible we have to keep audio top of mind. But wait! – Don’t be so quick to throw your video content strategy out the window! Some video content can be easily translated into quality audio content.

Instead of focusing your content strategy on just one format, think more wholistically. Just because video content tends to get more engagement, doesn’t mean that you eliminate graphics or good ol’ photos from your content calendar.

With the addition of audio, this gives brands more options for translating their content into new ways. How can you incorporate photo, video, and audio into your content?

I don’t have video or audio content! Where should I start?

If you haven’t delved into creating video content yet – Don’t panic. There’s always time to pivot your strategy. Our suggestion is to ask yourself this: What is our brand already doing that we can share with our audience? Some examples are:

  • Financial Literacy classes
  • Conferences
  • Community events

While these events are happening, take out your phone and start recording. Save that content for later! Utilize free services for editing videos and graphics like Canva.

When you’re ready to go a step further, create moments that you can use to serve your audience. Here are some suggestions:

  • Monthly Financial Conversation with Bankers
  • Savings Strategies Saturdays
  • Community Conversations

Pro Tip:

Get employees involved! This incentivizes them to engage with content on your brand’s social platforms.

Roles in a Clubhouse Chatroom

  • Has little control in a chatroom, just observing the conversation happening.
  • Either created the chatroom or was “promoted” by the Room Owner from the Speaker role.
  • Can turn on/off the ability for Listeners to raise their hand.
  • Invites people from audience to speak.
  • Accepts requests from the audience to speak.
  • Promote other Speakers to Moderators.
  • Send Speakers back to the audience as Listeners
  • Called on by a Moderator or Room Owner to speak on a topic for a short period of time.
  • Creator of the chat room and Moderator

Clubhouse is a rare instance of a new social platform launching and being a key competitor to other platforms in the space. It’s important to be aware of how this will shift the way your audience engages with and consumes content moving forward. Look for ways to reuse your content and new ways to create content easily. The best way to evolve with this change is to dive right in and start getting familiar with the platform.

Are you ready to launch on a new social platform? Learn how Trust Texas Bank worked with Social Assurance to successfully launch on Facebook here!

Social Assurance

Social Assurance helps financial brands connect to their communities. With marketing, sales, and community development solutions, learn how we can help your organization do what it does best: support your community.