Financial services firms are turning to social media in ever-increasing numbers as a means of keeping in touch with clients, but even as the Web creates more interrelationships, the social medium of choice has become Twitter rather than Facebook, according to research from Corporate Insight released Wednesday.
The reason? Twitter is more data driven than Facebook, which focuses on relationships. That makes it easier for finanical services firms to connect.
Corporate Insight began tracking social media in the summer of 2008, and found that most of the industry was sitting back and waiting for a few groundbreakers to lead the way. The company’s first study on the subject, “Social Media: Trends and Tactics in the Financial Services Industry,” released in the fall of the same year, found that 32% of the firms it tracked had a Facebook presence while only 15% were on Twitter.