The way customers engage with financial services is changing fast, and so is how banks, fintechs, and investment firms must show up online. This benchmark report offers a clear, data-driven look at what’s really working in financial services social media metrics today. Based on a full year of performance analysis, this study reveals real engagement patterns, content trends, and platform-specific opportunities to guide smarter strategies in 2024.

Executive Summary

• Best-performing platforms for financial engagement—and how to tailor your approach to each one
• Detailed comparison of content types and engagement across Facebook, Instagram, X, LinkedIn, and TikTok
• Breakdown of post formats: what finance brands are posting vs. what’s truly driving results
• Content pillars that generate the highest engagement rates across platforms
• Data-backed strategies to help boost audience growth and elevate your content marketing in the finance industry

Averages Across All Platforms

Across the financial landscape, Instagram and TikTok are setting the pace, but each platform plays a distinct role.

Instagram’s average engagement rate by followers for finance brands sits around 1.3%, which is led by strong performance from carousels and strategic Reels. It’s a vital channel for building community and showcasing thought leadership through visual storytelling.

TikTok, meanwhile, dominates in pure engagement. With average follower engagement rates near 4.2%, TikTok offers unmatched visibility for brands willing to invest in original, short-form financial storytelling, perfect for personal finance social media metrics and brand humanization.

Facebook and LinkedIn show steadier, moderate engagement rates, emphasizing depth over reach. X (formerly Twitter) trails with lower engagement, but still offers niche value when using human-centered content.

If you’re benchmarking your brand’s performance, these averages provide a realistic foundation for comparing your social media results against finance and banking industry norms.

Engagement Rates by Content Type (Per Platform)

Facebook

While photos and albums dominate content volume, video marketing benchmarks for the banking industry show video posts delivering significantly higher engagement. Reels are underused but show promise when tested.

Instagram

Carousels outperform other formats, especially for mid-sized finance brands. While Reels command attention, thoughtful carousel storytelling drives deeper engagement and stronger community building.

X (formerly Twitter)

Video performance is negligible, but animated GIFs and photos maintain a modest edge. Text-based, community-driven posts perform best, especially for themes around financial literacy and personal finance.

LinkedIn

Documents and articles generate stronger engagement than images or videos. Sharing thought leadership, market insights, and professional stories proves essential for building trust and authority.

TikTok

Short-form video dominates the finance space here, with raw, authentic storytelling producing the highest engagement rates across all audience sizes. Carousel formats are rare but show potential for educational content.

These insights offer a clear blueprint for optimizing content types based on the realities of financial brand engagement, not assumptions.

Post Formats by Volume (Per Platform)

Facebook

Despite lower engagement, photos (51.3%) and albums (14.7%) dominate the feed. Video remains underutilized despite its proven success, offering a clear opportunity for finance brands to pivot toward richer media.

Instagram

Reels make up 37.8% of posts, closely followed by carousels and static images. However, brands relying solely on Reels miss out, as carousels often yield stronger engagement for finance-focused storytelling.

X (formerly Twitter)

Photos and status updates lead content types, while video remains underrepresented and underperforming. Animated GIFs, though small in volume, deliver surprising engagement boosts.

LinkedIn

Images make up the majority of posts (54.9%), but document-based posts and long-form articles, while less common, drive stronger engagement for financial institutions seeking authority.

TikTok

Unsurprisingly, 99.7% of posts are video. Carousels are barely used but could offer a way to differentiate educational finance content in a saturated video environment.

Top Content Pillars (Per Platform)

Facebook

Posts about Financial Milestones & Achievements and Security & Fraud Prevention perform best, but many brands still over-index on service promotions. Focusing on educational and impact-driven content is key.

Instagram

Themes like Industry News & Financial Markets, Personal Finance Stories, and Financial Milestones drive the highest engagement, signaling a shift toward emotional and story-based narratives over pure product promotion.

X (formerly Twitter)

Personal Finance Stories and Financial Education are top-performing pillars. Adventure-based posting styles (human interest and achievements) outperform dry announcements and static news.

LinkedIn

Market Research, Financial Milestones, and Workplace Environment stories drive meaningful conversations. Document formats and deeper narratives pull in higher engagement from professional audiences.

TikTok

Office Environment, Personal Finance Tips, and Fraud Prevention videos perform exceptionally well. Financial brands that humanize their brand voice and show real stories thrive in this space.

Understanding these high-performing pillars enables brands to move beyond traditional banking content and create authentic connections at scale.

Ready to download the full report?

The full PDF includes platform-by-platform benchmarks, detailed content performance insights, and practical strategy takeaways—all tailored to the finance and banking industry.

Whether you manage marketing for a bank, fintech, credit union, or investment firm, this report will help you elevate your content strategy and grow smarter in 2024.

Download the PDF now and see how your social media strategy stacks up.