Today, social media has expanded beyond the corporate marketing team and touches every aspect of financial services communications. From advisors to executives to employees, every individual has a voice on social and the potential to influence customers.
In March 2018, Hootsuite commissioned a global survey of social media decision makers from large financial services organizations with the following goals:
- Discover the extent to which organizations are deploying social media strategies such as social marketing, customer service, selling, and advocacy.
- Identify if and how teams and departments are working together to unify these strategies.
The study found that 38 percent of organizations have implemented social initiatives in at least four areas of the business. Yet along with new opportunities, growing adoption of social media across organizations introduces new challenges. While social is adopted as a strategic tool in several areas of the business, social activity and data are siloed, resulting in challenges such as the inability to measure and prove the return on investment in social media.
Download our Social Business Report to read about the unique challenges and opportunities facing financial services today.