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

AT&T’s Cricket Wireless strikes partnership with Acorns to bring investing to its subscribers

  • Cricket Wireless and Acorns are teaming up to bring investing to more people.
  • With the Acorns app pre-installed on new handsets, Cricket customers also receive monetary incentives to use the investment app.
Zachary Miller | August 06, 2021
Future of Investing

‘Lots of music involved, too!’: A day in the life of Chidi Achara, CCO of Stash

  • Consumer interest in investing is taking hold. And for investing apps, that means sharpening their marketing game to reach their target audience.
  • Leading Stash’s marketing initiatives is Chidi Achara, chief creative officer at Stash. Here’s a day in his life.
Rivka Abramson | August 02, 2021
Future of Investing, Member Exclusive

Behind Betterment’s partnership with Zenefits to give SMBs access to retirement planning

  • Betterment’s technology led 401(k) provider teamed up with HR software company Zenefits.
  • Zenefits SMB customers will gain access to Betterment’s retirement planning and financial wellness offerings.
Rimal Farrukh | April 21, 2021
Future of Investing, Member Exclusive

‘We put our skin in the game’: How Clearbanc is rethinking funding for growing startups

  • Last month Clearbanc released ClearAngel, a program that acts as an automated angel investor.
  • Clearbanc’s revenue-based model speaks to the increased need of startup funding.
Rivka Abramson | March 04, 2021
Future of Investing, Member Exclusive

‘Our research shows that consumers find investing to be intimidating’: Marcus by Goldman Sachs debuts automated investment service

  • Goldman Sachs debuted its flagship digital investment platform Marcus Invest.
  • The offering requires a minimum account balance of $1000 and charges an annual fee of 0.35 percent.
Rimal Farrukh | February 19, 2021
More Articles