The Best (and Worst) Social Channels to Reach the Financial Services Audience in Q1 2023

Key Takeaways

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In Q4 2022, the Financial Services Audience Attention was the highest on TikTok, followed by YouTube and Facebook.

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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.

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There is whitespace opportunity on YouTube, Facebook and TikTok, where there is high Audience Attention and low Competitor Focus.

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Instagram and Twitter are oversaturated platforms with high Competitor Focus and low Audience Attention.

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Audience Attention is stable for all platforms with less than a 10% change this quarter.

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Competitor Focus is growing significantly on Instagram (+105%) this quarter, followed by Twitter and YouTube.

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Competitor Focus shrank significantly this quarter on Facebook and TikTok.

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Competitors in the Financial Services industry are currently not active on Reddit, Snapchat, Pinterest, and Twitch.

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*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.