Bigmouthmedia Unveils British Financial Sector's Top Social Networking Executives
on: March 05, 2010, 6:35 am
Industry: Internet & Online
A bigmouthmedia survey has identified the UK Finance sector's
biggest users of online social networking tools and confounded many
expectations by revealing that the Finance sector has embraced the
social media phenomenon more readily than those in other established
industries. Some 74% of the leading executives surveyed regularly
engage in the use of tools such as LinkedIn, Facebook and Twitter, a
statistic which demonstrates the extent to which a normally
conservative sector has adopted the latest working trends.
Their performance compares extremely favourably with that of leading executives in
the FTSE 100. In a bigmouthmedia survey earlier this year, of the FTSE executives
sampled only 25% actively engaged in social networking, compared to 85% of business
leaders representing companies from the Sunday Times Fast Track 100.
"The evidence clearly shows that the Britain's financial businesses are rapidly
coming to terms with the social media revolution. However, there is still over a
10% gap between the use of social media by finance execs and those in Fast Track
companies," said Chris Cathcart, Senior Finance Strategist at bigmouthmedia.
"I believe it is key for finance execs with a focus on digital marketing to
understand the social sphere more. A targeted and strategic social media campaign
can not only help build better brand relations with customers, but can also
highlight easily fixed customer based issues and create greater brand loyalty, not
to mention a beneficial impact on organic search results."
While the social media
has been one of 2009's most hyped phenomena, little evidence exists as to what
extent businesses are deriving benefits from the plethora of available services.
However, bigmouthmedia's survey indicates that leading industry players are
increasingly using social networking as part of the essential business toolkit.
The research revealed that former Lloyds TSB Head of Innovation James Gardner is the
finance sector executive who has most readily adopted social networking as a means
to communicate with colleagues and the public. Gardner, who recently moved to the
Department for Work and Pensions, uses LinkedIN, Twitter, Facebook, Plaxo and a blog
to reach out to past, present and future customers.
Gardner emerged as eventual winner in front of a field that included Martin
Peterlechner at Tesco Personal Finance, HBOS head of banking Mike Regnier and
Stephan Daquaire of Swiftcover.com.
LinkedIn emerged as the finance executive's networking tool of choice, with 76% of
those surveyed using the service.
Linus Gregoriadis, research director at internet marketing research and training
company Econsultancy, said: "It's great to see
financial services company executives really involved with social media. This sector
has historically been quite slow to engage in new digital channels but, in recent
months, there are some great examples of financial services brands who have been
"An example which springs to mind is First Direct, which showcases customer
opinions and sentiment about its brand and has created a great multichannel campaign
around this. Engagement through social media has been a way for banks to
differentiate themselves, but is now fast becoming something which is essential
rather than a 'nice-to-have'. You need to have a presence where your customers
are, and this applies to all business sectors.
"There is no set formula around what works with social media so companies need to
experiment and see what works for them. Whether the objectives are around hard
financial targets or softer, brand-building goals, companies need to have metrics in
place which help them to measure their success and build the business case for
Founded in 1997, bigmouthmedia is Europe's largest independent digital marketing
agency. With a team of over 200 staff located across 13 offices in 10 countries on 3
continents, the company maximises exposure for major brands online through a variety
of fully integrated digital marketing channels: search engine optimisation, PPC,
Online Media Planning, affiliate marketing, Social
Networking, Brand Monitoring, Online PR and Web Analytics. Bigmouthmedia also
provides up to date daily digital marketing news to ensure clients are fully
informed and aware of all industry developments.
Contact Details: Iain Bruce
(44) 131 555 4848