Are financial services falling behind with social media marketing?

When it comes to the utilisation of social media marketing, the financial services industry is falling behind other sectors, it has been revealed.

According to research by IFA Life, independent financial advisers (IFAs) engage with their customers the least when online when compared to other major industries.

And the group notes this is in direct contradiction of how consumers are using the internet to find out more about such services.

The news comes as part of the Social Media in Financial Services, which included talks from representatives such as Google, YouTube, The Gate, Fincision, the BBC, Ecademy and LinkedIn and was labeled as "groundbreaking".

Speakers at the event spoke of how the internet was rapidly changing financial services distribution in the UK.

Organiser Philip Calvert said: "We saw once and for all that all consumers of all ages are now actively using Social Media and IFAs who assume otherwise are in for a nasty shock."

He added this went deeper than social media marketing alone and that IFAs could use the internet to listen to consumers and industry experts, share best practice, attract website users through search engine optimisation and build brand loyalty.

Kevin Gibbons, in an article for eConsultancy, recently advised people trust social media content from other customers and find it influences their own buying decisions.

Contact the experts at home james for Social Media services.