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LinkedIn still number one as UK advisers continue to get social

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Use of social media by UK advisers is up for the third year running, according to Intelliflo’s third annual survey into social media usage, with 70 per cent of Intelliflo’s Intelligent Office (iO) users now engaging in some sort of business social media activity.

The figure is up from 58 per cent in 2014 and 61 per cent in 2015.
 
This year’s survey found that LinkedIn has increased its ranking as the most popular social media platform for advisers, with 60 per cent actively using it in 2016 compared to just 53 per cent in 2015.
 
Facebook meanwhile, has also increased in popularity with 36 per cent now using it compared to just 25 per cent in 2015, while Twitter usage is up with 40 per cent are using it in 2016 compared to 35 per cent in 2015. However, it’s still down on 2014 when 41 per cent were using it.
 
Other social media platforms, such as Google+, are being used by 6 per cent, which is up slightly compared to 4 per cent in 2015 and the same as during 2014.
 
Asked why their company gets involved in social media, two thirds (62 per cent) said it was to attract new clients (up from 59 per cent in 2015).
 
Other reasons include being seen to be keeping up with modern communications systems (54 per cent compared to 69 per cent in 2015); to help with search engine optimisation (SEO) (50 per cent compared to 41 per cent in 2015); to keep up to date with financial news and events (42 per cent, compared to 39 per cent in 2015); to communicate with existing clients (46 per cent, compared to 37 per cent in 2015); and to see what competitors are doing (14 per cent, compared to 20 per cent in 2015).
 
For those who don’t engage in social media, lack of knowledge and understanding about how to engage with it to provide business benefits is a barrier for almost a third (30 per cent). However, time is the biggest factor, with half (51 per cent) saying they don’t have the time or resources to devote to it.
 
Relevance to business is also questionable for some advisers, with half (51 per cent) of those who don’t currently engage saying they don’t believe it is relevant for their business.
 
Nick Eatock, Intelliflo’s executive chairman, says: “It’s interesting to see how use of social media is increasing with advisers year-on-year and there’s no doubt in my mind that, done correctly, there are tangible business benefits to be gained. However, it does require a strategy, governance and resources to be effective and that’s clearly a barrier for some businesses currently.”
 
With social media use clearly on the increase amongst UK IFAs, Intelliflo has prepared a free tool designed to help firms quickly and easily put a social media strategy in place.

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