Hearsay Systems’ 2023 Financial Services Social Selling Content Study Finds Overall Engagement Across All Channels, Content Types, and Lines of Business Up 23% Since the Start of Pandemic

by Anna Munhin Jun 2, 2023 News
Hearsay Systems’ 2023 Financial Services Social Selling Content Study Finds Overall Engagement Across All Channels, Content Types, and Lines of Business Up 23% Since the Start of Pandemic

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The increase in original content is due to advisors growing more comfortable with social media.

Financial services professionals use both Facebook and LinkedIn more than any other social channel, but that doesn't mean they don't use other channels as well.

Hearsay Systems, the trusted global leader in digital client engagement for the financial services industry, announced the findings of its social selling content study. The Hearsay Financial Services Social Selling Content Study gathers data from over 100 leading global financial services firms and their cumulative 225,000 advisers and agents.

The press release has a multimedia component. You can view the full release here.

The highest engagement rates were delivered by principles-based, career and recruiting, and corporate brand content. Businesswire has a graphic.

The study analyzed 16.3 million published social media posts, which yielded in excess of 22.3 million engagements. The data was analyzed to uncover findings and insights from the behaviors of corporate social media program administrators, field publishers, and consumers.

The Chief Marketing and Strategy Officer of Hearsay Systems said that social selling is here to stay. Social media has become an important source of information since the beginning of the Pandemic. Consumers are increasingly seeking information, guidance, and support from agents and advisors through social channels, while advisors have grown more accustomed to using social channels for networking, requesting referrals, and conducting other business-building activities that used to be done in person

The findings are topline.

  • There was a 23% increase in overall engagement from 2020 to today.

  • The percentage of original content increased from 3.9% to 6.6% in the year 2022.

  • Engagement rates for original content are nearly eight times the average for unmodified content.

  • In terms of social channels, Facebook and LinkedIn remained the most used networks, with over half of all posts hosted on them.

  • The most popular social media platform proved to be it. The average engagement rate was 1.6 on social media.

  • The engagement rates were low. The highest engagement rates were for P&C Insurance and asset management.

The post components have been broken down.

When it comes to best practices for social selling, there are certain things that matter. Links, images, videos or text that comprise a post are perhaps less intuitive.

  • Links were used the most across all lines of business. Even though they had the lowest engagement rate, links were shared at 11 times the rate of images.

  • Text-only posts had the highest engagement across all lines of business, 6 times more than images and 5 times more than videos. The highest engagement rates for all lines of business were achieved by text-only posts. Original and modified content can be found in text-only posts.

  • Program owners and field teams can meaningfully connect with clients and prospects by using a mix of high-effort, high-engagement content.

The full financial services social selling content study can be downloaded here.

To find out how Hearsay supports financial services organizations, visit www.hearsaysystems.com.

Hearsay systems are about.

Hearsay is used by the world's leading financial firms to scale their reach, grow their business, and deliver exceptional client service. Hearsay has global teams in North America, Europe and Asia.

You can connect on social media.

Businesswire.com has a source version of the story.

There are contacts.

The person is Carmen Mantalas.

Carmen is atgmkcommunications.com.

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