Rich and Co.

Best to Be Skeptical on Social Media in Financial Services

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Financial services firm’s and professional’s time and resource are stretched already.  Spending limited resources on social media is best approached with caution,e.g.:

44% of advisors who use social media for business or business and personal use agree that social media is an emerging trend with significant potential for businesses like theirs, while only 26% rank social media as having value to their business.

That means:

  • 75% don’t feel it has value
  • The % that likely use it is much lower since saying it matters and actually using it will be different
  • The number that use it effectively is likely low single digits

Written by Rich and Co.

May 22, 2011 at 8:08 pm

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