More than eight in 10 banks believe social media is important to their institution and 87% are very or somewhat active on their social media accounts, according to a new report released yesterday by ABA. Based on a survey of 430 banks of all sizes, the report looks at how banks are managing social media programs, the results they are getting, what they wish they could do better and the opportunities ahead.
The survey found that 52% of respondents planned to increase spending on social media resources in 2019 while an additional 8% sought to significantly increase that budget. Nearly one-third (31%) were planning to hold the budget steady, and less than 1% planned to decrease social media budgets.
The report—which bankers can download for free—also identifies which social media platforms banks use for marketing purposes as well as profiles the ways different banks across the country are using social media to generate tangible results. Download the survey report. Read more on ABA Bank Marketing.