Survey reveals financial services PRs’ social media habits
Only 12% of in-house PR executives working in the UK’s financial services industry have successfully made changes to their company’s Wikipedia pages, according to research in Broadgate Mainland’s 2012 Digital Trends Survey.
The finding is just one of several frustrations revealed by this year’s survey. As one in-house respondent commented, “[Wikipedia]
This survey, which addresses the current state of the social media landscape in the financial services sector, previously solely questioned journalists in the UK financial services industry. This is the first time responses have also been obtained from in-house communications practitioners.
A summary of the most notable and topical findings of the in-house communications portion of the survey reveals:
• 42% of in-house respondents indicated they have never attempted to make changes to their company’s Wikipedia entry. Only 28% of respondents have ever tried to make changes.
• 64% of respondents do not have dedicated social media managers. Of those who did, 31% were in-house, with 5% coming from agencies. However, a digital component/social media capability when seeking tenders from PR agencies was seen by a majority (64%) as ‘important’
• 44% felt social media was helping them be more responsive to their customers and has developed existing relationships, but 53% said they spend less than an hour a day monitoring social media, while almost a quarter don’t carry out any monitoring at all. Twitter and LinkedIn are the professional social media tools of choice, with Facebook and Pinterest popular for personal use only. 54% ranked LinkedIn the ‘most crucial’ social media tool to their businesses, followed by Twitter at 44%.
• 47% of in house communicators thought that ‘in-house experts and thought leaders’ were the most effective advocates of brand messages over social media.
Sarah Evans-Toyne, Executive Director at Broadgate Mainland, said: “It is clear that companies are fully aware of the importance of social media to the communications function of their business. However, interest and willingness in the conversational side of social media varies greatly.
“Emerging challenges facing PRs such as the debate over seeking editorial changes in a way acceptable to Wikipedia’s editorial community, how companies can best pitch ideas to journalists and the line between personal and professional social media circles will no doubt continue to be important considerations for years to come. The CIPR’s recent guidance advising PRs to adopt Wikipedia’s editorial process is a positive step in this direction.”
For further information, please contact: Mark Knight / Sarah Evans-Toyne / Alistair Scott on 020 7726 6111 or via digitaltrendsgroup@
For a full copy of the report, with analysis of both journalist and in-house communicators, please email digitaltrends@
Notes to editors:
This year, Broadgate Mainland worked in collaboration with Communicate Magazine to expand the outreach of its annual social media survey to include journalists and in-house communications professionals in the financial services industry.
The Digital Trends 2012 survey was conducted by means of two online questionnaires which featured 34 questions for journalists and 31 questions for in-house communications officers in the financial services sector on a wide range of topics related to use of social media. The survey took place between April and May 2012.
One hundred and fifty-six journalists and eighty-three in-house communications officers contributed responses to this survey. For 31 journalists and 21 in-house survey respondents, not all questions on the survey were answered. The data from these partially completed surveys has been included in the results.
About Broadgate Mainland
Broadgate Mainland is a leading PR agency that specialises in the financial and professional services industries. We forge close working relationships with our clients to help enhance their reputations and achieve business objectives. Combining media relations, corporate communications and digital PR, we deliver results that drive growth and build credibility. Sectors we have specialist expertise in are: Alternatives, asset management (retail and institutional)