Started to improve customer satisfaction, Dell’s social media efforts soon led to sales of $6.5m through its Twitter account in 2009. Many have since stepped up efforts to generate sales using social media. Apart from brand building and client retention, can financial service professionals use social media to win new clients and grow revenue? Here’re 8 statistics linking social media activity to client acquisition and business value in financial services.
Social Media Impact – 8 Statistics
(1) 40% of financial advisors won new clients through Facebook
(2) 25% of financial advisors won new clients through Linkedin
(3) 21% of financial advisors won new clients through Twitter
(4) 57% of financial advisors believe social media has significant future potential for their business
(5) 39% of financial advisors report social media has value for their business
(6) 19% of financial advisors report social media is already producing tangible business results
(7) 34% of affluent investors use social media specifically for personal finance & investing purposes
(8) Nearly 70% (ie, 24% of all affluent investors) have reallocated investments, or started or changed relationships with investment providers based on content found through social media
Data Sources
Are your social media marketing efforts winning you new clients and adding business value?
– by InvestmentPal
Note: Post was updated in Nov 2013. Sources for statistics in previous July 2011 post include “Hubspot 2011 Report”, “Socialware 2010 Survey” & “Aite-Pershing 2009 Report”.
Edwin Marchan says
February 8, 2012 at 10:14 amVery valuable data points!
InvestmentPal says
February 8, 2012 at 12:13 pmThanks Edwin.
Richard Bender says
August 28, 2011 at 7:56 amvery helpful and insightful article. Thank you for putting this together. I enjoyed it so much I shared in on my multiple social platforms.
InvestmentPal says
August 28, 2011 at 8:23 pmHi Richard, Glad you found the post helpful. Thanks for your generous feedback!
Skyler Steinke says
August 23, 2011 at 11:47 amThese statistics provide validation to the following question many people in the financial services industry ask:
1. Can my efforts using social media translate into actual sales and new clients in my business?
Based on these stats, the answer is obvious. Thank you for sharing!
InvestmentPal says
August 23, 2011 at 7:18 pmSkyler, You’re welcome. Thanks for highlighting the social media sales translation question in the financial services industry – an important question to be expected of a ROI-focused business.
Maria Marsala says
August 22, 2011 at 4:51 pmVERY Interesting statistics. The bottom line is as it has been – relationship building and follow up. Drip, drip, drip. Over time new venues (social networking) have been added to the mix that help us reach even more people than a website can. People get the opportunity to read our posts, profiles and how we answer questions, too.
In person, on the web, or a mixture of both — we are building new relationships a little at a time with all we do.
InvestmentPal says
August 23, 2011 at 8:19 amMaria, thanks. And thanks to Hubspot, Socialware, Pershing-Aite for the surveys conducted to get these data.
Excellent points on relationship building!
Candyce Edelen says
July 22, 2011 at 8:26 amThanks for pulling these stats together. Your post inspired me to blog on this topic, and I included links back to your blog.
I’ve seen a number of surveys on the effectiveness of social media, but they generally ignore the issue of the content and its relevance to the target audience. Social media strategies that don’t deliver quality content are not going to be effective over the long run.
Here is a link to the post. Thanks for getting me started!
http://www.propelgrowth.com/2011/07/22/using-social-media-to-find-new-clients/
I’ll be writing more about the content needed for marketing institutional trading and technology next week.
InvestmentPal says
July 22, 2011 at 10:41 amCandyce, great point on quality and relevance of content to target audience! Looking forward to your upcoming post on content needed for marketing institutional trading and technology.
Candyce Edelen says
September 1, 2011 at 5:05 pmA bit delayed, but here is the blog article I wrote about content marketing for the capital markets. http://www.propelgrowth.com/2011/08/30/reality-check-content-marketing-for-the-capital-markets-redux/
InvestmentPal says
September 1, 2011 at 8:16 pmCandyce, Thanks for sharing link to content marketing article. Great points made on need to focus on content usefulness, quality, relevance, length and variety!
Betsy Buckley says
July 21, 2011 at 8:52 amLet’s see… should I keep doing what I’ve always done, and expect annual increases around 6=7% Or, should I come into the current client world and add social media, and morfe than double that?
Not a tough choice from my view. How about yours?