Financial services firms like Twitter more than Facebook
|18 Aug 2011 12:00 BST||Back|
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Twitter is the most popular third-party social media site among financial services firms, according to a survey by market research specialists, Corporate Insight.
The survey was carried out in early August and found that 68% of the companies were on Twitter (up 10% from October 2010) while Facebook sign-ups went up by just 3%, from 56% to 59%.
Corporate Insight surveyed 85 companies across the banking, brokerage, asset management and banking sectors.
When Corporate Insight carried out its first social media study in 2008 only 15% of financial services firms had a Twitter profile and less than a third had a Facebook page.
So why is the financial services industry choosing Twitter over Facebook?
“Facebook is more of a relationship-driven community, whereas Twitter is more content-driven,” explained Alan Maginn, senior analyst at Corporate Insight.
“Facebook is a more challenging environment for businesses because, in order to be successful, they must foster a relationship with their fans. With Twitter, they can concentrate more on the value of the content they produce.”