How fast is Twitter growing in financial services?

5th March 2013

Using Twitter in financial services is becoming not-so-rare of a phenomenon as it was in previous years. Companies are beginning to embrace Twitter and other social channels more and more, but the group that was first to tackle these channels were the influencers – the journalists, publications, bloggers and industry figures that people listen to (aka read their tweets).

Cognito and Cognito Analytics like to monitor trends in social media as it’s growing in importance in communications functions across the world. We implemented our twitter rankings to begin to take a look at financial trade publications on Twitter and what their activity is. On a weekly basis, we’re able to pull follower accounts for a targeted list of influential trade publications. This helps not only Cognito, but other PR professionals see which outlets have the largest followings and could help amplify their stories and messages on Twitter.

Recently we took a look at three publications, American Banker, Financial News and Finextra, to see what their follower trends looked like in 2012.

What’s interesting to note here isn’t the numbers of followers (as everyone has to start somewhere), but the slope of each line. Financial News’ and American Banker’s followers grew at a faster rate than Finextra which you can argue is contributed to the type of news each outlet covers.

When you take a look at each strategy, you’ll find that American Banker tweets approximately 26 times per day (not including retweets) and also retweets their journalists and other important financial associations and regulatory bodies. Finextra tweets about 6 times per day while Financial News tweets approximately 4 times per day.

Each publication pursues a strategy that fits its tone and corporate voice, but these results also highlight the importance of frequent and steady tweeting, relevant and timeliness of news and quality of followers.

The financial sector is on Twitter and actively using sources such as these for their latest news. We’ll continue to see publications gain Twitter followers at high rates as more and more companies engage with them.