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Insight

Social media in Financial Services

May 20, 2022

David Jiménez García

|

Client, Social Media & Content Lead

As the number of social media users continues to grow every day, whether to have a social media presence is no longer a question. The benefits of including social media channels within your overall campaign strategy are countless (increasing exposure, boosting engagement, generating leads, developing loyal fans, building communities, etc.).

The world of social media is evolving so rapidly that deciding which social platforms to include in your strategy is a big challenge. The emergence of new platforms brings new opportunities, but it can be overwhelming to keep in touch with what is going on. How to decide which social media to use? Just because there are new platforms does not mean you need to have a presence on them. Start with the channels that are important to your brand and are used by your potential clients.  These are our recommendations:

LinkedIn

LinkedIn is by far the most popular social media channel utilised by asset management firms. This is because LinkedIn members typically keep their profiles up-to-date, which presents an excellent business opportunity, allowing companies to target content to those individuals who really matter to their business. Professional audiences and decision makers can be searched and targeted by industry, job titles, seniority and more. LinkedIn is so much more than an online CV and a repository of contacts. The challenge for asset management companies is to step up from having a simple company bio based profile to designing a strategy to efficiently engage with the target audience and capitalise upon on it.

Twitter

Twitter is a conversation in real-time social platform where people are not afraid of expressing their thoughts and opinions. There are also many thought leaders using the platform. Additionally, users come to Twitter looking for news and research, which can provide your company with valuable market insights.

Xing

Xing is a Hamburg-based career-oriented social networking site. It is similar to LinkedIn, but in German. LinkedIn has only 14 million users in this region in comparison to Xing’s 17 million. If your campaigns target German speaking markets, you may well consider Xing to promote your brand and maximise content performance.

Western social media platforms such us Facebook and Twitter are still very popular in Asia. However, access is restricted in some key markets. The most used social platforms are:

WeChat

Wechat is the largest socia media in China with over 1.2 billion monthly active users. It is often described as China’s “app for everything” due to its wide range of services: news, bookings, food delivery, broadcast, instant messaging, video conferencing, video games, social media, mobile payment and more. As part of China’s mass surveillance network, political and sensitive topics are censored. All user activity, including accounts registered outside China, is tracked and analysed by Chinese authorities.

Sina Weibo

Commonly known as the ‘Twitter of China’, Sina Weibo is a microblogging website and platform with over 560 million monthly active users. It is China’s biggest social media platform after WeChat.

QQ

QQ is an instant messaging software service and web portal similar to WeChat, but with a slightly different demographic. With over 639 million users, it provides online social games, music, shopping, microblogging, movies, and group and voice chat software.

Line

Categorised as a super app and similar to the Chinese app WeChat mentioned previously, Line is a very popular social platform in Japan with over 89 million monthly active users. Beyond mobile messaging, voice calls and video calls, Line integrates tools for banking, shopping, newsfeed, cashless payments, games, TV streaming, restaurants, travel agents, healthcarse services, and more.

There are endless social platforms (global and local) and new ones are created every now and then. Making the decision to adopt new platforms comes down to where your investment clients are more likely to be found and how accurately the new social platform allows you to target the desired audience.

David Jiménez García
Client Social Media & Content Lead

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