25 mind-blowing social media stats for financial advisorsArticle added by Amy McIlwain on January 23, 2013
Joined: August 26, 2010
Ranked: #11 (3,825 pts)
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 on social media? The following compilation of data is reflective of the current state of social media in the financial world. Read it and weep.
- 50 percent of small business owners reported gaining new customers through social media — most notably through Facebook and LinkedIn. (Social Media Examiner)
- More than 56 percent of consumers say they are more likely to recommend a brand after “liking” it on Facebook. (Millionaire Corner)
- 78 percent of consumers trust peer recommendations. (Socialnomics)
- Only 14 percent 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 percent of Fortune 500 Companies have a corporate Facebook page. (Viral Blog)
- 350 million users suffer from “Facebook addiction syndrome.” (Bullas)
- 40 percent of LinkedIn users among financial customers earned an annual income of more than $100,000. (Northern Trust)
- Of advisors who prospected on LinkedIn, 62 percent cultivated new prospects. Of those who were successful, 32 percent gained over $1 million in new assets. (econsultancy/LinkedIn)
- Of advisors who use LinkedIn, 71 percent 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 percent have gained $5 million or more. (FTI Consulting/LinkedIn)
- 5 million affluent investors use social media to research final decisions. (Business Insider)
- 26 percent of ultra-high-net-worth investors use LinkedIn. (Northern Trust)
Boomers and young investors
- Nearly one-third (30 percent) of ultra-high-net-worth (UHNW) individual investors say they either read or would read blogs by trusted financial advisors. (Spectrem)
- 4 out of 5 Internet users visit social networks and blogs. (The Social Skinny)
- 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)
What are your experiences with these stats? Do you agree with them?
- 52 percent of investors say they would interact with financial advisors on social media, but only 4 percent 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 percent 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 percent of the world’s population will use a social network at least once per month in 2014. (FTI Consulting/LinkedIn)
- Only 10 percent of marketers are actively monitoring social media ROI. (The Social Skinny)
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