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Financial professionals Google+ Adoption
A study conducted by AdvisorWebsites.com



August 2011



Loic Jeanjean
Director, Sales & Web Marketing
(866) 638-0273
loic@advisorwebsites.com
About this study


Audience
Financial advisors and members of the financial services industry in Canada and the USA:
23% from Canada
77% from the USA

147 financial professionals completed the survey, all of which being either a financial advisor, broker or RIA

Timeframe
The study was conducted online between August 2nd and August 24th 2011

Note: 31% of the responses were submitted from mobile devices!!




                                                                                                             2
Percentage of Financial Professionals who have
heard about Google +
                      Yes (94)   No (53)
                                                        94 financial professionals
                                                        reported they heard
                                                        about Google+. This
                                                        represents 64% of the
                                                        participants to this
                                                        August 2011 study.

                                                        53 didn’t hear about the
      36%                                               new social network
                                                        launched by Google
                                                        6 weeks ago. This is
                                                        interesting given the
                                                        amount of press & media
                                                        coverage received by G+
                                                 64%




       n= 147/147 | Q1: Have you heard about Google+?

                                                                                     3
Financial Professionals' interest in creating a
Google + profile
                                                                                    This question was asked
                                                                                    to those who hadn’t
                                                                                    heard about Google +
   Need more info (21)                                                40%
                                                                                    We provided the
                                                                                    respondents with basic
                                                                                    information about G+
                                                                                    before asking them if
           Maybe (12)                              23%
                                                                                    they would be interested
                                                                                    in creating a profile.

                                                                                    Surprisingly, only 17%
              Yes (11)                            21%                               said they would not be
                                                                                    setting up a profile which
                                                                                    indicates high curiosity
                                                                                    and interest.
                No (9)                     17%



                         0%     10%         20%          30%       40%        50%


            n= 53/147 | Q2a: Would you be interested in creating a profile?

                                                                                                                 4
Percentage of Financial Professionals already
using Google +
                        Yes (44)   No (50)
                                                             This question was asked
                                                             to those who had heard
                                                             about Google +

                                                             The results were pretty
                                                             even, with 44 out of 94
                                                             financial professionals
                                                             reporting they had
                                                             created a profile and
                                                             were using Google’s new
                                                      47%    social networking site.

      53%                                                    On the flip side, 50
                                                             respondents hadn’t setup
                                                             a profile and were asked
                                                             why (see next slide).




       n= 94/147 | Q2b: Do you have a profile on Google+ ?

                                                                                       5
Reasons why Financial Professionals haven't setup
a Google + profile
                                                                                                      This question was asked
                                                                                                      to those who had heard
Still learning, not ready for another                                                                 about Google + but
                                                                                          30%
          social network (19)                                                                         hadn't created a profile.

           Don't have an invite (19)
                                                                                                      Lack of invite was the top
                                                                                          30%
                                                                                                      reason, tied with the
                                                                                                      professionals not ready
                       No time (13)                                         21%                       to take on a new social
                                                                                                      network just yet.
                                                                                                      Only 10% mentioned
  Too few users / No one I know is
          on Google+ (6)
                                                       10%                                            compliance as their main
                                                                                                      reason, which was a
                                                                                                      surprise.
 My compliance department is not
                                                       10%
        allowing me (6)
                                                                                                      Note: respondents were
                                                                                                      allowed to select more
                  Not interested (0)     0%                                                           than one answer

                                        0%    5%    10%      15%      20%         25%   30%     35%


                         n= 50/147 | Q3: Why haven't you created a profile already?

                                                                                                                                   6
How Financial Professionals with a Google+ profile
first heard about this new social network
                                                                                         This question was asked
                                                                                         to those who have heard
                                                                                         about Google + and had
Media/Press (22)                                                             50%
                                                                                         created a profile.

                                                                                         Most of the financial
                                                                                         professionals currently
                                                                                         using G+ (50%) learnt
      Other (13)                                      30%
                                                                                         about it through media
                                                                                         and press coverage.

                                                                                         The study also shows that
  Colleagues (6)                   14%                                                   colleagues and friends’
                                                                                         recommendations were
                                                                                         the driver for just over
                                                                                         20% of the respondents.
      Friends (3)          7%                                                            Quite low given the
                                                                                         nature of social media

                    0%     10%           20%       30%         40%         50%     60%


                         n= 44/147 | Q4: How did you hear about Google+?

                                                                                                                   7
Most Financial Professionals rate their experience
as medium to high
                                                                                   This question was asked
 35%                                                                               to those who have heard
                                                                                   about Google + and had
                                                               30%                 created a profile.
 30%

                                                                                   Every financial
 25%                                                                               professional currently
                                                        23%
                                          20%    20%                               using G+ rate their
 20%                                                                               experience from medium
                                                                                   to high, with 37% giving
 15%
                                                                                   it a note of 8 and more.

                                                                                   This is a huge
 10%
                                                                                   accomplishment for a
                                                                       7%
                                                                                   social network that was
  5%                                                                               launched 6 weeks ago.
       0%   0%       0%     0%     0%                                         0%
  0%
       0    1        2       3      4      5      6      7      8       9     10



                n= 44/147 | Q5: How would you rate your experience with Google+?

                                                                                                              8
Other social networks used by Financial
Professionals
                                                                                                It is interesting to see
                                                                                                LinkedIn dominating the
                                                                                                results here, taking over
  Linkedin (57)                                                                     34%         Facebook as the most
                                                                                                used social media site in
                                                                                                the financial services
 Facebook (47)                                                           28%                    industry.

                                                                                                Also worth noticing is the
   Twitter (44)                                                       26%                       rise of Twitter, quickly
                                                                                                closing the gap with
                                                                                                Facebook.
 YouTube (13)                        8%
                                                                                                Note: 50 respondents
                                                                                                indicated that they were
     Other (9)                  5%
                                                                                                not using social media.


                  0%       5%        10%      15%      20%      25%         30%     35%   40%




                       n= 97/147 | Q6: Which other social networks are you using?

                                                                                                                             9
Credits


This study and its results remain the property of AdvisorWebsites.com™

Sharing or reposting this study is permitted under the following restrictions:
• Full attribution of its author and source must be included (see below)
• Content remains AS-IS
• Content is offered FREE OF CHARGE

Derivative works or copying portions of this document are prohibited unless explicitly authorized by the
author.


Author:
Loic Jeanjean
Director, Sales & Web Marketing
(866) 638-0273
loic@advisorwebsites.com

© 2011 AdvisorWebsites.com™



                                                                                                           10

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The adoption of Google+ in the financial services industry

  • 1. Financial professionals Google+ Adoption A study conducted by AdvisorWebsites.com August 2011 Loic Jeanjean Director, Sales & Web Marketing (866) 638-0273 loic@advisorwebsites.com
  • 2. About this study Audience Financial advisors and members of the financial services industry in Canada and the USA: 23% from Canada 77% from the USA 147 financial professionals completed the survey, all of which being either a financial advisor, broker or RIA Timeframe The study was conducted online between August 2nd and August 24th 2011 Note: 31% of the responses were submitted from mobile devices!! 2
  • 3. Percentage of Financial Professionals who have heard about Google + Yes (94) No (53) 94 financial professionals reported they heard about Google+. This represents 64% of the participants to this August 2011 study. 53 didn’t hear about the 36% new social network launched by Google 6 weeks ago. This is interesting given the amount of press & media coverage received by G+ 64% n= 147/147 | Q1: Have you heard about Google+? 3
  • 4. Financial Professionals' interest in creating a Google + profile This question was asked to those who hadn’t heard about Google + Need more info (21) 40% We provided the respondents with basic information about G+ before asking them if Maybe (12) 23% they would be interested in creating a profile. Surprisingly, only 17% Yes (11) 21% said they would not be setting up a profile which indicates high curiosity and interest. No (9) 17% 0% 10% 20% 30% 40% 50% n= 53/147 | Q2a: Would you be interested in creating a profile? 4
  • 5. Percentage of Financial Professionals already using Google + Yes (44) No (50) This question was asked to those who had heard about Google + The results were pretty even, with 44 out of 94 financial professionals reporting they had created a profile and were using Google’s new 47% social networking site. 53% On the flip side, 50 respondents hadn’t setup a profile and were asked why (see next slide). n= 94/147 | Q2b: Do you have a profile on Google+ ? 5
  • 6. Reasons why Financial Professionals haven't setup a Google + profile This question was asked to those who had heard Still learning, not ready for another about Google + but 30% social network (19) hadn't created a profile. Don't have an invite (19) Lack of invite was the top 30% reason, tied with the professionals not ready No time (13) 21% to take on a new social network just yet. Only 10% mentioned Too few users / No one I know is on Google+ (6) 10% compliance as their main reason, which was a surprise. My compliance department is not 10% allowing me (6) Note: respondents were allowed to select more Not interested (0) 0% than one answer 0% 5% 10% 15% 20% 25% 30% 35% n= 50/147 | Q3: Why haven't you created a profile already? 6
  • 7. How Financial Professionals with a Google+ profile first heard about this new social network This question was asked to those who have heard about Google + and had Media/Press (22) 50% created a profile. Most of the financial professionals currently using G+ (50%) learnt Other (13) 30% about it through media and press coverage. The study also shows that Colleagues (6) 14% colleagues and friends’ recommendations were the driver for just over 20% of the respondents. Friends (3) 7% Quite low given the nature of social media 0% 10% 20% 30% 40% 50% 60% n= 44/147 | Q4: How did you hear about Google+? 7
  • 8. Most Financial Professionals rate their experience as medium to high This question was asked 35% to those who have heard about Google + and had 30% created a profile. 30% Every financial 25% professional currently 23% 20% 20% using G+ rate their 20% experience from medium to high, with 37% giving 15% it a note of 8 and more. This is a huge 10% accomplishment for a 7% social network that was 5% launched 6 weeks ago. 0% 0% 0% 0% 0% 0% 0% 0 1 2 3 4 5 6 7 8 9 10 n= 44/147 | Q5: How would you rate your experience with Google+? 8
  • 9. Other social networks used by Financial Professionals It is interesting to see LinkedIn dominating the results here, taking over Linkedin (57) 34% Facebook as the most used social media site in the financial services Facebook (47) 28% industry. Also worth noticing is the Twitter (44) 26% rise of Twitter, quickly closing the gap with Facebook. YouTube (13) 8% Note: 50 respondents indicated that they were Other (9) 5% not using social media. 0% 5% 10% 15% 20% 25% 30% 35% 40% n= 97/147 | Q6: Which other social networks are you using? 9
  • 10. Credits This study and its results remain the property of AdvisorWebsites.com™ Sharing or reposting this study is permitted under the following restrictions: • Full attribution of its author and source must be included (see below) • Content remains AS-IS • Content is offered FREE OF CHARGE Derivative works or copying portions of this document are prohibited unless explicitly authorized by the author. Author: Loic Jeanjean Director, Sales & Web Marketing (866) 638-0273 loic@advisorwebsites.com © 2011 AdvisorWebsites.com™ 10