video-banner
none

SOCIAL MEDIA ENGAGEMENT A MUST FOR BUSINESSES

18-10-2016
by 
in 

Hootsuite, the world's most widely used platform for managing social media, has released a report in association with LinkedIn highlighting the importance of Executive social media activity within Australian Financial Services Institutions.

The research found a strong correlation between the social media activity of executives and the performance of employee social activity across the Australian Financial Services Industry (FSI).

"Social communication has dramatically influenced the impact that executives can have on the company brand. Whether in financial services or any other industry, customers, employees and shareholders are demanding an authentic voice from their business leaders. In turn, the executive's ability to influence their organisation's brand through social engagement has never been greater," said Mark Dick , Director, Sales Solutions, LinkedIn Australia.

With customer engagements becoming increasingly more digital, traditional business models are changing and with it, the role of executives within the industry. An analysis of social media activity on LinkedIn among 851 Australian organisations revealed that on average 42% of the organisation's social media performance can be attributed to the activity of executives.

The findings reinforce the business impact of social media, echoing existing LinkedIn research which found that organisations with sales teams that embraced social are 51% more likely to reach quota, while 78% of social sellers outsell their peers who aren't on social media.

"Digital is rapidly disrupting Australian banking and financial institutions. With the explosive growth of social, executives in the Australian financial services industry are in a unique position to proactively lead from the front, engaging and empowering employees and sales teams on social, " said Amy McIlwain , Global Industry Principal, Financial Services, at Hootsuite.

Analysing more than 340,000 posts across social from May to September 2016 , Hootsuite established a Digital Perception Index (DPI) to provide an indication of public sentiment towards a company. The DPI showed that many consumers still have a negative perception of investment and wealth management institutions, likely a holdover from  the global financial crisis.

The research establishes a huge opportunity for firms to increase the role of executives in their social media activity. Industry leaders who have been identified as 'social executives' can be a strategic force in improving customer experience and employee engagement, productivity, and retention.

"By 2026, Australians entering the workforce have lived their entire lives in a world with social media. No matter their industry, if organisations in Australia plan to remain competitive on a global scale, they need to engage customers at every touchpoint in their digital journey, this means mobile, real-time, and especially social," said Patience Yi , Vice President Strategic Alliances, Hootsuite.

Related news & editorials

  1. 18.02.2020
    18.02.2020
    by      In
    Singapore-based environmental technology company Clean Earth Technologies (CET) is set to commercialise novel Australian technology developed at Flinders University that could fix some of the world’s biggest environmental pollution problems, such as oil spills, mercury pollution and fertiliser... Read More
  2. 12.02.2020
    12.02.2020
    by      In
    Sydney-based injection moulder A Plus Plastics has acquired stormwater management company Ausdrain in a move that will see an immediate increase in its own manufacturing operations as it brings the Ausdrain product range in-house.
    A Plus Plastics Managing Director and owner Matthew Holloway is an... Read More
  3. 11.02.2020
    11.02.2020
    by      In
    The ARBS air conditioning, refrigeration and building services trade exhibition has revealed its industry awards finalists for 2020. Officially launched in 2010, this year marks the tenth anniversary of the awards, which honour and reward the talent in Australia that sustains the industry.
    ARBS... Read More
  4. 10.02.2020
    10.02.2020
    by      In
    A company dedicated to ensuring the total safety and standards compliance of winches has enlisted Hydraulink to provide and install hydraulic hoses and fittings optimised by expert hydraulic engineering in an innovative underground winch developed for mining leader BHP.
    BHP called on Australian... Read More