The Best (and Worst) Social Channels to Reach the Financial Services Audience in Q1 2023
In Q4 2022, the Financial Services Audience Attention was the highest on TikTok, followed by YouTube and Facebook.
However, Financial Services Competitors’ Focus is highest on Instagram, followed by Twitter.
High competitors’ focus on Instagram was driven by Chime, which gained 21M video views from Reels about daily spending.
There is whitespace opportunity on YouTube, Facebook and TikTok, where there is high Audience Attention and low Competitor Focus.
Instagram and Twitter are oversaturated platforms with high Competitor Focus and low Audience Attention.
Audience Attention is stable for all platforms with less than a 10% change this quarter.
Competitor Focus is growing significantly on Instagram (+105%) this quarter, followed by Twitter and YouTube.
Competitor Focus shrank significantly this quarter on Facebook and TikTok.
Competitors in the Financial Services industry are currently not active on Reddit, Snapchat, Pinterest, and Twitch.
*Composite metric consists of posts, video views, Monthly Active App Users, and Monthly Unique Site Visitors
*Composite metric consists of post cadence, audience growth, engagement volume, organic video views. Competitor’s focus is comprised of the top 15 brands in the FS industry.
*Competitors are not active on Twitch and Reddit while Pinterest and Snapchat is currently unavailable.
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