Shareablee recently presented the State of Social Financial Services webinar , showing that social share of voice grew 23% from January 2014 to October 2014 amongst Financial Services pages. Twitter experienced a dramatic 384% audience engagement growth, Instagram grew 134% and Facebook increased by 17%. However, engagement for all other categories grew by 126% in the same timeframe, indicating an opportunity for financial services to think about ways to use social media to multiply this share of voice and drive referral traffic.
Only ten brands represent 66% of all activity across the financial services industry, indicating room for more brands to gain share of voice. We’ve compiled best practices of these top brands that contributed to the rise of their audience engagement this year.
- Don’t post just links and statuses on Facebook.
Photos garner the most social engagement across all financial services categories. Compared to the post frequency of links and statuses, the engagement from those posts is relatively low. The majority of the financial services categories saw positive engagement, with the exceptions being the loan and insurance brand categories.
- Understand what else your social audience cares about.
Twitter has grown 384% since January across financial services. Sporting events drove high engagement numbers for brands like Visa on Twitter, as well as other social platforms. Visa, a sponsor of the Winter Olympics, saw their highest engagement on Twitter during that time. Their next spike was during the World Cup.
- Diversify your social strategy.
You might think it’s just for consumer brands, but the financial services industry's Instagram audience engagement has grown by 134% since January. Case in point: Liberty Mutual Insurance’s Instagram audience engagement has increased 792% since the beginning of the year and the brand dominates social share of voice. Liberty Mutual’s brand message, centering on community and family with their “Home is where…” campaign, garnered the brand its highest engagement numbers this year. Today, only 11% of financial services brands have an Instagram page. Given the growth of the platform, an opportunity exists for financial services brands to engage even more of their communities.
Click to access the full State of Social Financial Services presentation
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