25 Interesting Social Media Stats for Financial Professionals

Share via emailShare on FacebookShare on Twitter

Let’s face it: Who doesn’t love a helping of solid statistical data every once in a while? In 2012, financial professionals made significant strides in embracing and harnessing social media—but how effective are their efforts? Better yet, are they reaching the right audiences when using social media? The following compilation of data is reflective of the current state of social media in the financial world. Read it and weep!

Affluence

  • Five million affluent investors use social media to research final decisions. (Business Insider)
  • 26% of ultra-high-net-worth investors use the professional-focused social networking site. (Northern Trust)

Facebook

  • 50% of small business owners reported gaining new customers through social media – most notably through Facebook and LinkedIn. (Social Media Examiner)
  • More than 56% of consumers say they are more likely to recommend a brand after “liking” it on Facebook. (Millionaire Corner)
  • 78% of consumers trust peer recommendations. (Socialnomics)
  • Only 14% trust advertisements. (Socialnomics)
  • Of advisors that use Facebook, the majority of them say they use it to enhance current client relationships. (FTI Consulting/LinkedIn)
  • 58% of Fortune 500 Companies have a corporate Facebook page. (Viral Blog)
  • 350 million plus users suffer from “Facebook addiction syndrome”. (Bullas)

LinkedIn

  • 40% of LinkedIn users are financial customers who have earned an annual income of more than $100K. (Northern Trust)
  • Of Advisors who prospected on LinkedIn, 62% cultivated new prospects. Of those who were successful, 32% gained over $1 million in new assets. (econsultancy/LinkedIn)
  • Of advisors that use LinkedIn, 71% use it to make professional connections. (FTI Consulting/LinkedIn)
  • More than 3-in-5 advisors, who have leveraged LinkedIn to cultivate client prospects in the past year, have successfully gained new clients as a result. (FTI Consulting/LinkedIn)
  • Those who are gaining clients on LinkedIn are bringing in big business: Nearly a third have gained $1 million or more in assets under management, while 12% have gained $5 million or more. (FTI Consulting/LinkedIn)

Blogging

  • Nearly one-third (30%) of ultra-high-net-worth (UHNW) individual investors say they either read or would read blogs by trusted financial advisors. (Spectrem)
  • Four out of five internet users visit social networks and blogs. (The Social Skinny)

Boomers and Young Investors

  • In the United States, there are an estimated 270 million internet users and one-third of them are from the baby boomer generation. (AARP)
  • Younger investors are likely to view a financial advisor in a negative light if he/she does not have a social media presence. (Spectrem)

Wow!

  • 52% of investors say they would interact with financial advisors on social media…but only 4% do. (econsultancy)
  • 7-in-10 financial advisors are already using social networks for business purposes. (FTI Consulting/ LinkedIn)
  • More than half of financial advisors expect social media to play a significant role in their marketing efforts in 2013 — this represents an 80% increase year-over-year. (FTI Consulting/LinkedIn)
  • The ‘how to’ video category is the fastest growing vertical on YouTube. (Bullas)
  • At the rate social media is growing, 25.8% of the world’s population will use a social network at least once per month in 2014. (FTI Consulting/LinkedIn)
  • How are financial advisors currently using social media? (FTI Consulting/LinkedIn)
  •  Only 10% of marketers are actively monitoring social media ROI. Yikes! (The Social Skinny)

What are your experiences with these stats? 

Do you agree with them?  


Amy McIlwain is President of Financial Social Media. As an entrepreneur, author, speaker, and worldwide connector, Amy is recognized internationally for radical new ways of thinking about Social Media, PR, marketing, advertising, and customer service. Amy has spent the past six years contributing to the financial industry in advertising sales for Senior Market Advisor and consulting for top insurance companies. With her unique background in both online marketing and financial services, Amy launched Financial Social Media in 2010 to help guide companies through the compliance issues surrounding social media. She is regularly featured in top financial industry publications, blogs, websites, and books.

Related Articles