Article date: 28 May 2013
- Two in five advisers do not use social media to build customer networks
- LinkedIn is the most popular network used (33%), but check-ins are infrequent
- 68% of consumers search online to make decisions about goods and services related to money matters, providing untapped adviser opportunities
Financial advisers are not using social media to its full potential to grow their business, according to research undertaken by Aviva1, which reveals that two in five advisers (41%) do not use any social media networks at all.
The review of how financial advisers currently use social media has informed the latest programme of support available for advisers through Aviva’s New Thinking campaign. With a new online platform packed with a wealth of digital content, www.Avivanewthinking.co.uk offers advisers a step by step learning programme to show how they can use digital technology and social media to reach a wider client audience, from which to retain and grow their business.
Of those advisers polled who do use social media, the most used network is LinkedIn (33%), however users only tend to check in on a weekly basis (18.5%) or less frequently (22%). Twitter and Facebook are also used in a professional capacity but only by 13% of advisers.
Yet there is increasing evidence of just how significant the digital world is when it comes to customers making decisions. 68% of people now search online when making decisions about goods and services related to money matters, and nearly two thirds use their mobile phones to obtain information at least 3 or 4 times a week2. More than 23 million adults in the UK now own a smart phone3, providing advisers with an enormous opportunity to reach out to potential clients in a targeted way.
The New Thinking website contains valuable insight and simple, practical ideas and support tools to help advisers make sense of digital marketing, as well as how to reach and interact with new and existing clients through social media networks. The site also has videos featuring advice from digital experts, infographics, library documents and social media links, to guide advisers through the world of social media and its business benefits. A newsfeed of the latest developments in social media will also keep advisers up to date.
Content within the New Thinking website will include information on how to:
- be found online, using search engine optimisation (SEO) basics
- connect with customers and be available to them instantly
- create useful and engaging content for potential clients
Andy Beswick, intermediary director at Aviva, said: “The research shows that while many advisers use digital and social media to follow key influencers in the industry or for their own research, very few have harnessed this to actively reach new clients or engage with their existing ones.
“Whilst advisers do need to consider the regulatory aspects of using digital and social media, this shouldn’t discourage them from embracing what is becoming an increasingly bigger part of consumer’s lives. Our latest New Thinking support programme will help advisers maximise their online presence so they are not losing out on digital opportunities.”
Aviva’s New Thinking initiative for advisers was originally launched in October 2012 with a book on how behavioural science can better facilitate client conversations about adviser charging in a post-RDR world. 4,500 copies were issued and the campaign was well received, driving more than 10,000 visits to Aviva’s Retail Distribution Review (RDR) adviser hub.
For more information about Aviva’s business developments, news & industry views follow @Avivaplc on Twitter.
- The Aviva Adviser Social Media Survey was conducted in February 2013 by www.research.net and polled over 600 UK independent financial advisers.
- Fleishman Hillard and Harris Global Interactive Digital Influence Index 2012
- Kantar Media, TGI Q2 2013 (www.kantarmedia.co.uk)
- Ends –
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Notes to editors:
Aviva provides insurance, savings and investment products to 34 million customers worldwide.
We are the UK’s largest insurer with over 14 million customers and one of Europe’s leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.
We are ranked as one of the UK’s top ten most valuable brands and Aviva Plc is in the top 10% of socially responsible companies globally in the Dow Jones Sustainability World Index. In 2012 we invested £5.7m into our UK communities. One in three of our employees were involved in community investment activities which included giving nearly 30,000 hours.
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