While many financial advisors are now on social media where their clients and prospects are, one question asked is “how many platforms should they be on?” Relying on data from surveys conducted by Putnam Investments, we looked at the growth in business use of the 3 major social networks – Linkedin, Facebook, Twitter – from 2014 to 2016 and we looked at the incremental value from participation in all the 3 networks.
- From 2014 to 2016, financial advisors business use of Linkedin increased from 64% to 73%
- In the same period, their use of Facebook increased from 36% to 54%
- Their business use of Twitter saw a huge jump from 27% to 44%
- Financial advisors who were actively using Linkedin gained average assets of $4.4M
- Advisors who were actively using both Linkedin and Facebook gained average assets of $6.7M
- Advisors who added Twitter to their social media activity gained average assets of $7.3M
Active participation across all three major social networks appeared to have resulted in largest gains for these financial advisors. We present these data in the following infographic.
Are you currently on all 3 social networks – Linkedin, Facebook and Twitter?