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BizReport : Social Marketing : March 09, 2015

Study: Finance brands could make bank in social

Most of us think of social media as place to stay updated on friends and family or our favorite celebrities. But one new report goes farther, tying social media to finance, indicating financial brands with the right social strategy could go far.

by Kristina Knight

"To understand the place occupied by the social web within the finance consumer cycle, we tapped into our network of 3.1 million sites and apps and collected data on social behaviors over the course of 3 months. Our findings revealed not only that finance is, in fact, a highly social topic (with no less than 68 million monthly social signals), but one with fascinating behavioral nuances, clear seasonal trends, and favorable life stage alignment," write the authors of the ShareThis report.

Some interesting findings from the report include:

• There are most than 60 million social actions in the finance vertical each month
• Credit & Lending (20.9 million social actions) and Insurance (12.8 million social actions) lead
• Consumers using tablets are twice as likely to engage with finance content, many are managing portfolios
• Tax season and quarterly earnings report timeframes spike social usage in the finance sector
• Millennials and 'Early' Boomers are most likely to 'share' finance content

The researchers were also able to extrapolate data about why different demographics are sharing. Millennials are most likely to share banking services or insurance information as they're most likely signing on to their first job or graduating college. They are also likely getting a first home or car so are most likely interesting in insurance, credit or lending.

Finance brands who take into account the life stages as part of their strategy could see high engagement, write the report authors.

Image via Shutterstock

Tags: finance vertical, ShareThis, social marketing, social media, social sharing

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