Financial Brands TikTok Report 2024: Strategies for success

Building on the insights from the SA Social Media Landscape Report 2024, this new report examines the TikTok strategies of major financial institutions, including FNB, Nedbank, and Standard Bank. With the platform’s influence continuing to grow, brands like Momentum, Discovery Limited, and Wesbank
have adopted diverse approaches to content creation and engagement. The report offers a detailed breakdown of their efforts and results.

Download the report: https://ornico.co/financial-brands-tiktok-report-2024/

Key findings from the report:

• Discovery Limited leads in engagement, with 647,003 likes despite posting less frequently than other brands. This demonstrates that content quality can outweigh posting frequency when it comes to resonating with TikTok users.
• Momentum holds the top spot in follower count with 89,005 followers, combining both frequency and creative content to maintain strong audience engagement.
• Wesbank posts the most frequently, averaging 4.85 posts per week, yet struggles to convert this activity into engagement, with only 556 followers and 540 likes. This highlights the importance of content strategy over sheer volume.
• Comparison between South African and US brands: US financial institutions like Visa and MasterCard dominate in likes and followers, with MasterCard boasting 2.5 million likes, far surpassing any South African competitor. However, the adoption rate for TikTok among South African financial companies, at 45%, is slightly higher than that of US financial institutions at 40%.
• Content types that work: South African brands like FNB and Nedbank have embraced educational content, product integrations, and trending themes to engage users in ways that go beyond typical financial messaging. In contrast, Standard Bank and Old Mutual have successfully integrated employer branding with product promotion, using TikTok to highlight both their services and company culture.
• Not yet on TikTok: Despite TikTok’s growing importance, several major South African financial brands, including Liberty, Absa, Santam, Investec, OUTsurance, Hollard, Vitality, PSG Financial, Coronation, RMB, and Guardrisk, have yet to establish a presence on the platform. This leaves significant opportunities for these brands to tap into TikTok's vast and engaged audience.

Download the TikTok Financial Report now

The report also covers the performance of top financial brands already active on TikTok and provides actionable insights on how your company can refine its TikTok strategy for 2024 and beyond.

Download your free copy of the TikTok Financial Report to learn how these top financial institutions are leveraging TikTok to drive engagement, build brand awareness, and connect with a younger, digital-first audience.

Ornico provides reputation, media, advertising and brand research with a suite of products that includes brand intelligence across the African continent. It does this to help marketers and brand owners make sense of the flood of information that occupies traditional and social media.

By collecting and analysing media data across many channels, Ornico informs brand owners and marketing decision-makers about the most important strategic decisions they'll ever make regarding their brands.

From editorial and advertising monitoring services, and social media analytics to advanced brand research, Ornico provides a holistic and independent view of brand performance as reflected by television, radio, print media as well as social and digital media.