If you’re using social media for marketing and communications at a bank, credit union, or other financial institution, you might find reporting on your progress tricky. How do you know if your strategy is working? Is an average of 100 comments per week good, or is it just average? And when is the best time to publish your content?
There is no universal answer — it all depends on factors like your sector, the platforms you’re using, your audience demographics, and more.
That’s where social media benchmarks come in. These numbers offer a clear view of what’s normal for your industry in terms of engagement and growth, helping you understand how your results compare.
Read on for the most recent social media benchmarks and stats specific to the FinServ industry that will put your performance into perspective. In this post, we break down the most recent available data (collected in Q4 of 2024).
Psst: Once you grab your benchmarks, head to our guide to using social media in financial services to find out how to action these insights.
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Best times to post on social media for financial services
Below, you’ll find recommendations for the best times to post on Facebook, Instagram, LinkedIn, and X (formerly Twitter) for maximum engagement.
Note: Time of day was localized across 118 countries where sample data came from, i.e. the graphs are accurate across time zones.
Best time to post on Facebook
According to our research, Tuesday afternoons (4-6 pm) and Thursday mornings (9 am-12 pm) are the best time for financial institutions to post on Facebook — but, in general, engagement stays consistent throughout the week.
Best time to post on Instagram
On Instagram, posts published between 11 am and 3 pm on Wednesdays and Fridays seem to generate the highest engagement for financial institutions.
Best time to post on LinkedIn
LinkedIn engagement on profiles run by financial institutions stays consistent from Monday to Friday. That said, Monday afternoon (4-6 pm), Wednesday afternoon (12-3 pm), Thursday evening (5-8 pm), and Friday mid-day (11 am-1 pm) are the best times to post.
Best time to post on X (Twitter)
Tweets tend to generate the highest engagement for financial institutions on X when posted on Tuesdays, especially between 12 and 4 pm.
How often should you post on social media in financial services?
Every financial institution’s ideal posting schedule is unique, and you should test different posting frequencies to find out what works best for your audience. That said, these industry-specific stats will help you find a data-informed starting point.
Our research found that financial institutions post on Instagram more often than on other social platforms — an average of 5 times a week. LinkedIn follows with an average of 4.4 posts per week.
Below, you’ll find network-specific data that illustrates how posting frequency corresponds to overall engagement rates.
On Facebook, performance depends on the quality of the content you post more than it does on how often you post. FinServ institutions that posted seven times a week have seen similar engagement rates to those posting an average of only three times per week.
On Instagram, 4 updates (posts, Stories, and/or Reels) per week is the sweet spot in FinServ.
On LinkedIn, Finance institutions that posted 7 times a week saw the highest average engagement. Stay active!
Average engagement rates in financial services
Wondering if your engagement rates are high enough? Here are the industry averages across all major social networks as of December 2024:
- Instagram: 1.7%
- Facebook: 1.2%
- LinkedIn: 1.2%
- X (Twitter): 1.1%
Follower growth rate in financial services
If your social media strategy revolves around growing your audience, make sure you’re setting realistic goals. Here is how other FinServ profiles did in Q4 2024:
- Instagram: 2.8%
- LinkedIn: 0.54%
- X (Twitter): 0.24%
- Facebook: 0%
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