Facebook fans still blind to banks
Banking and financial institutions have drawn over 48,000 new Facebook fans on average since February - but still figure the worst in engagement when it comes to other industries.
In its latest Facebook performance report, The Online Circle found that the average number of fans for institutions grew from 534,778 to 937,767.
Despite this, the engagement rate fell from 7 per cent in February to 3.4 per cent, based on an analysis over the four weeks from 13 May to 10 June.
Banks also had the lowest number of fans when compared to the 20 industries analysed in the report. Airline, travel and tourism topped the ladder with more than 8.8 million fans.
In relation to The Online Circle’s February report, chief executive Jeff Richardson said banks often fall short in Facebook engagement because the “fun” approach doesn’t generally work when a financial institution engages with the public.
For the banking sector, Commonwealth Bank once again topped the list for the sector, increasing its fan base by an average of 10.9 per cent. It held a 61.5 per cent share of the Facebook conversation.
This was followed by National Australia Bank (14.6 per cent share), Westpac (7.6 per cent share) and ANZ (5.2 per cent share).
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
