Financial experts have developed more interest for Social Media which have become a great source of information for economic industry. Many researchers have investigated the adoption of Social Media by Financial Professionals.
For example, Sean Xin Xu and Xiaoquan (Michael) Zhang investigated how information in Social Media affects management decision on disclosing financial information. Their studies show that Social Media have an identifiable effect on both the management and investor side in the financial market.
American Century Investments’(ACI) sixth annual Financial Professionals Social Media Adoption Study has examined advisor usages and attitudes toward social media platforms such as LinkedIn, Twitter, Facebook and YouTube.
The results of research show that:
The use of social media, particularly LinkedIn, with financial professionals continues to grow;
About 43% of financial professionals have attributed a return on investment to social media use;
LinkedIn has helped 74% of financial professionals in developing expertise or building their business;
However, adoption of LinkedIn premium services has been slow;
Financial professionals consider LinkedIn Groups as among the most important social media offering according to asset managers.
Many questions from ACI were asked to financial advisors regarding the perception of Social Media:
Most Financial Professionals Have a Social Media Account
The top 3 spots continue to be held by Facebook (75%), LinkedIn (70%) and Twitter (37%).
Value of Social Media for Business
According to 54% of financial advisor interviewed in 2015, Social Media has significant future potential for businesses.
Top Business Uses of Social Media
Reading expert commentary/insights is the most business use (28%) in 2015.
Top Types of Content: Insights and News
Commentary/market insight (59%) and market news (56%) are the top types of content on Social Media in 2015.
LinkedIn is the most used by manager to follow Business Promotion and Brand Building
LinkedIn Premium Services Not Used
LinkedIn Premium is not used by financial advisor (77%).
These results show that Social Media take a more and more big role in society. This Financial Study reveals the increase of platform social use in communication strategies of organization. Company should adopt definitively Social Media like a communication canal of business.