Future of Investing

In play for customer data, TD Ameritrade rolls out Twitter trading bot

  • Since many TD Ameritrade customers are active Twitter users, the Twitter trading bot is an engagement tool
  • TD Ameritrade's Twitter trading bot helps the company understand customer behavior patterns, data that can be used for personalized experiences and recommendations
close

Email a Friend

In play for customer data, TD Ameritrade rolls out Twitter trading bot

TD Ameritrade is blending tweeting and trading into a single customer experience.

The brokerage firm released a Twitter bot Thursday, allowing stock investors to execute trades, get market updates and browse educational content through direct messages. For the brokerage, encouraging traders who use Twitter to transact will give it, the hope is, a rich source of user data to offer personalized customer experiences and product recommendations.

“Twitter has a rich, organic community of investors and traders,” said Sunayna Tuteja, director of emerging technology and innovation at TD Ameritrade. “Investors are consuming news on Twitter, influencers are very active, and what they say tends to move the market — the speed of information is so critical to decision making.”

This is the second major social media trading feature the brokerage firm launched within the last six months; it rolled out a Facebook messenger bot in August. Tuteja said the company decided to add the Twitter bot to reach users in a social channel they’re often using. Many investors are active Twitter users, so it seemed like a natural move to add a trading feature, she added. Customers can also access real time social media sentiment analysis and educational text and videos through the bot.

IMG_5731_Edit

TD Ameritrade’s forays into using social media are part of a bigger industry trend to meet the needs of an increasingly social generation of traders who often share information through digital channels. For companies serving digitally savvy traders like Robinhood and StockTwits, for example, it’s a big enough opportunity for them to create their own social networks for traders.

Encouraging customers to trade through Twitter offers TD Ameritrade the opportunity to make its employees available to them 24 hours a day and gives customers an opportunity to use Ameritrade employees as resources, including CEO Tim Hockey.

“Twitter is a way for us to connect analysts and employees with clients,” Tuteja said. “It’s about transparency.”

Beyond a convenience factor for customers, TD Ameritrade will be tracking use patterns of customers who trade via Twitter and Facebook. It’s still early days for the social trading tools; the company said it would be looking to offer tailored experiences for customers based on user data, but wouldn’t say exactly how. For now, it’s focusing on getting the customer experience right.

“We haven’t gone down the road of cross selling focused on contextual information — we’ll do it if that’s something the customers are looking for,” Tuteja said. “We’re looking to engage this population, and education is a powerful entry point.”

0 comments on “In play for customer data, TD Ameritrade rolls out Twitter trading bot”

Future of Investing, Member Exclusive, Podcasts

Broadhaven Ventures’ Michael Sidgmore on global trends in embedded finance

  • The future of financial services will be driven by non-financial companies that add a financial services layer to serve engaged, frequent users.
  • The pandemic will accelerate the digitization of underlying tech infrastructure and consumer habits, causing long-lasting behavioral shifts.
Suman Bhattacharyya | July 21, 2020
Future of Investing

During pandemic, Personal Capital sees customer inflows, positive feedback for recent rebrand

  • Investment platform Personal Capital rebranded in October 2019.
  • The results of the rebrand, a new marketing campaign, and COVID-19 are all contributing to the firm's growth.
Zoe Murphy | April 23, 2020
Future of Investing

2019: Year of the fintech inflection

  • The fintech market is undergoing changes as investors tweak their strategies.
  • Growth stage companies are seeing a bigger share of the pie, as are emerging markets.
Zoe Murphy | February 19, 2020
Future of Investing, Podcasts

Titan’s Clayton Gardner: ‘We want to make sure we’re building cars, not faster horses’

  • While most robo-advisers have embraces passive investment strategies, Titan has taken a contrarian approach.
  • Its clients turn to the investment app for reasonably-priced hedge fund strategies.
Zack Miller | October 28, 2019
Future of Investing

JMP Securities’ Devin Ryan on the impact of free trading on financial services

  • Over the past few weeks, major brokerages have eliminated brokerage fees.
  • Devin Ryan, MD at JMP, joins us to discuss what the future of financial services looks like.
Zack Miller | October 21, 2019
More Articles