kasina’s new social media report ranks Vanguard, Sun Life, iShares, Putnam Investments and Franklin Templeton Investments as the top five asset managers for social media practices. It also reveals that only 26% of firms have quantifiable objectives for their social media return on investment.
As a result, three-quarters are missing valuable opportunities to develop more effective campaigns that drive bottom-line results and demonstrate the value of social media to gain more resources and firm-wide participation, according to kasina’s Building a Competitive Social Media Competency report.
“As financial advisors become increasingly hard to reach through traditional means, asset managers must become more adept at showcasing their products and expertise where advisors are—in social media,” stated Jenny Chu, senior research analyst at kasina.
“But too many firms are flying blind. Without a carefully crafted strategy and tracking what works and what doesn’t, they’ll never maximize their results.”
kasina assessed 57 asset managers and insurance firms’ social media efforts across five major social platforms (Facebook, Twitter, LinkedIn, Blogs, YouTube). In addition, the company interviewed executives at 19 firms.