Facebook fans still blind to banks
Banking and financial institutions have drawn over 48,000 new Facebook fans on average since February - but still figure the worst in engagement when it comes to other industries.
In its latest Facebook performance report, The Online Circle found that the average number of fans for institutions grew from 534,778 to 937,767.
Despite this, the engagement rate fell from 7 per cent in February to 3.4 per cent, based on an analysis over the four weeks from 13 May to 10 June.
Banks also had the lowest number of fans when compared to the 20 industries analysed in the report. Airline, travel and tourism topped the ladder with more than 8.8 million fans.
In relation to The Online Circle’s February report, chief executive Jeff Richardson said banks often fall short in Facebook engagement because the “fun” approach doesn’t generally work when a financial institution engages with the public.
For the banking sector, Commonwealth Bank once again topped the list for the sector, increasing its fan base by an average of 10.9 per cent. It held a 61.5 per cent share of the Facebook conversation.
This was followed by National Australia Bank (14.6 per cent share), Westpac (7.6 per cent share) and ANZ (5.2 per cent share).
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
