Covid-19 has changed how we work and how we communicate with our friends, colleagues and clients. How has customer engagement in the wealth management industry changed during this pandemic? This blog highlights 5 statistics to show why and how wealth managers have increased digital adoption and accelerated use of social media to engage with clients during this time.
1. The relative frequency of consumers looking for “financial advisor” using search engines increased 20% in 2020
Source: Google Trends
2. Wealth manager’s digital engagement with clients increased 7-10X across all digital channels in Q1 2020
3. 33% of wealth managers increased their spend on digital tools after the onset of Covid-19
Source: Arizent Research, May 2020
4. Financial advisors’ social media business use increased to 85% on Linkedin, 65% on Facebook and 57% on Twitter in 2020
5. Almost 50% of investors say social media impacts whom they hire as a financial professional