Report series: social media engagement in the financial sector

The Drum shares the first two reports in a series analysing social media engagement in the financial sector.

For the brands fully at ease with social media, it is simply one part of their wider marketing strategy and they understand how to use it to their advantage and create measurable results.The financial services sector, however, is one which has not yet fully embraced the opportunities presented by social media, and brands operating in this sector are struggling to adapt.The first two instalments in the series of reports, published by creative agency Studio Six, provide analysis into financial service brands' use of social media, looking at case studies from Aviva, HSBC, RBS, Lloyds Banking Group, Citywire, Barclays and Coutts.Taking into account compliance regulations for finance brands, the reports provide tips for brands getting started with social media, looking at strategic planning, competitor analysis, compliance considerations and content planning.The second report analyses what the different financial sectors are doing in terms of integrating social media into their overall marketing strategy. Key insights

• Credit card companies lead the pack when it comes to social media and online brand engagement
• Consumers expect to access insurance companies online for peer recommendations, research, customer service, real-time quotes and evidence of CSR
• Wealth management firms have been the slowest to adopt social media within the FS sector

The second report also contains a Q&A with Lisa Worley, head of marketing at Barclays Wealth & Investment Management, who gives her insight on how the brand is using social media.