Move Over Zuckerberg: Financial Services Firms Now Prefer Twitter Over Facebook

Move Over Zuckerberg: Financial Services Firms Now Prefer Twitter Over Facebook

These days, y’all are using Twitter more than FacebooTwitterk for your social media interactions, according to Corporate Insight. In 2008, 32 percent of the firms Corporate Insight tracked had a Facebook page, while only 15 percent had a Twitter profile. Here’s how it has changed:

Our findings demonstrate that Twitter continues to gain in popularity. As of August 1st, 67% of the firms we track now have a presence on Twitter, a 10% increase in as many months. During the same time, the percentage of financial services firms with Facebook pages increased by 3% to 59% of the industry.

Many broker/dealers, especially IBDs, have been cracking the code recently to allow their reps to use social media to interact with their clients, without having to have content pre-approved by their compliance departments. In fact, FINRA just released additional guidance this month as to how to apply its rules on the use of social networking. This should help as firms continue to launch their social media strategies.

But I wanted to participate in the growth in social media as well. While I always thought Twitter was rather stupid and time-consuming, I’m starting to change my mind. And many of you seem to be as well, so that’s why I’m launching a Twitter page. You can follow me @Diana_Britton. Keep in mind, it’s just getting started!

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