Social media ‘more popular than traditional marketing’ for advisers

Social media keyboard

Twice as many advisers are using social media as their main marketing tool compared with other more ‘traditional’ routes, according to Intelliflo’s 2018 Social Media Survey of its Intelligent Office (iO) users

The back-office provider found seven in ten (70%) of the 379 advisers surveyed use social media for business purposes – up 12 percentage points since 2014.

Asked about other marketing tools they used, one-third (36%) said they used events where clients and prospective clients were invited, a further third (31%) said they used sponsorship and 30% used email.

Social media

More specifically within social media – and as with last year – Intelliflo found LinkedIn to be the most popular platform, with more than half (57%) of advisers using it for business. Twitter was second (40%) and Facebook third (37%) while 7% used other platforms such as Instagram.

Although advisers appeared to be making more use of social media, Hearsay – a specialist social media service available through Intelliflo’s iO – suggested advisers could make better use of it for their businesses.

“Understanding how consumers interact with social media is the key to gaining engagement and building a credible business brand via the different social platforms,” said Hearsay EMEA managing director Lucas Wilkens.

‘Get the balance right’

“Much of the frustration we see with social media marketing is down to the disconnect between what advisers think they should publish and what their potential audience actually wants to see. It is about getting the balance right.

“Our analysis of 3.4 million posts from the 77,000 advisers who use our service worldwide shows that the most successful ratio is 70% lifestyle, 20% financial and 10% corporate yet many advisers, particularly in the UK, fall into the trap of posting few, if any, lifestyle posts.”