{"id":4820,"date":"2018-10-18T19:31:44","date_gmt":"2018-10-18T19:31:44","guid":{"rendered":"https:\/\/genhq.com\/?p=4820"},"modified":"2022-07-23T06:51:22","modified_gmt":"2022-07-23T06:51:22","slug":"why-financial-firms-are-pivoting-towards-instagram","status":"publish","type":"post","link":"https:\/\/genhq.com\/why-financial-firms-are-pivoting-towards-instagram\/","title":{"rendered":"Why Financial Firms are Pivoting Towards Instagram"},"content":{"rendered":"<p>In an age where companies can\u2019t afford to be offline, even financial giant Goldman Sachs launched an official Instagram account in September 2018. What could an Instagram <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.businessinsider.com\/doing-it-for-the-gram-goldman-becomes-the-latest-financial-firm-to-launch-on-instagram-2018-9\" target=\"_blank\" rel=\"noopener\">account from Goldman Sachs possibly feature?<\/a><\/span> They post everything including key research findings, notable speakers at the firm, and even unique hobbies of their employees.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-4821\" src=\"https:\/\/genhq.com\/wp-content\/uploads\/2018\/10\/FinanceInstagram.gif\" alt=\"\" width=\"870\" height=\"500\" \/><\/p>\n<h4>But who exactly is the audience for this?<\/h4>\n<p>It\u2019s not their clients, but rather for their future employees. According to a <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.businessinsider.com\/doing-it-for-the-gram-goldman-becomes-the-latest-financial-firm-to-launch-on-instagram-2018-9\" target=\"_blank\" rel=\"noopener\">recent Business Insider article<\/a>,<\/span> financial firms have been struggling recently recruit top Millennials and <a href=\"\/top-10-ways-gen-z-is-shaping-the-future\/\" rel=\"noopener\">Gen Z<\/a>, so they have begun <span style=\"text-decoration: underline;\"><a href=\"\/how-obsessed-is-gen-z-with-mobile-technology\/\" rel=\"noopener\">adopting social media<\/a><\/span> in order to engage these younger generations.<\/p>\n<p>This is a crucial move for financial institutions that want to ensure they will maintain their competitive edge in the years to come. This is especially for Goldman Sachs, whose workforce is comprised of <span style=\"text-decoration: underline;\"><a href=\"\/why-do-millennial-employees-need-strong-leadership\/\" rel=\"noopener\">over two-thirds Millennials<\/a>.<\/span><\/p>\n<p>\u201cInstagram gives us an opportunity to connect with the general public by sharing insights into topics on the minds of our clients, as well as providing an intimate look into life at Goldman Sachs, and we think people will find there\u2019s a lot more to our firm than simply being a financial services company,\u201d said Amanda Rubin, Goldman\u2019s Global Co-Head of Brand &amp; Content Strategy.<\/p>\n<h4>Why change to focus on Instagram?<\/h4>\n<p>The move to Instagram might also be due to some changing statistics about recent college graduates. A Harvard Business School study of 2017 graduates found that only 5% of that year\u2019s graduates were <span style=\"text-decoration: underline;\"><a href=\"\/3-things-employers-need-to-know-about-gen-z\/\" rel=\"noopener\">pursuing a career<\/a><\/span> investment banking and sales and trading, the traditional focus of firms like Goldman. That compares to 10% in 2011.<\/p>\n<p>Gen Z is shaping up to be a very practical generation when it comes to money, and so it\u2019s no surprise that they\u2019d be swayed by technology companies and the Silicon Valley model, where graduates may be lured by the promise of better hours and big stock options packages. The Harvard study also found that 16% of graduates said they were going into technology, an increase from 11% in 2011.<\/p>\n<p>Other prominent banks, including JPMorgan, Morgan Stanley and Bank of America also use Instagram to connect with their younger audiences and potential employees. But it\u2019s not enough to just set up these social media accounts and hope the top applicants will come to you and \u2013 more importantly \u2013 stick around. Financial firms need to understand what their Millennial and <span style=\"text-decoration: underline;\"><a href=\"\/how-to-get-your-office-ready-for-gen-z\/\" rel=\"noopener\">Gen Z employees need and expect from a workplace<\/a><\/span>, and be willing to meet them more than halfway if they want to retain a solid workforce for years to come.<\/p>\n<h4>Want to Solve Your Gen Z Challenges?<\/h4>\n<p>We lead national and international Gen Z, Millennial, and\u00a0<span style=\"text-decoration: underline;\"><a href=\"\/how-is-generations-research-different-from-market-research\/\" rel=\"noopener\">generational<\/a><a href=\"\/how-is-generations-research-different-from-market-research\/\">\u00a0studies<\/a><\/span>\u00a0for our clients every day. We also keynote events around the world, helping businesses better understand their customers and workforce.<\/p>\n<p>Let us know how we can help you.\u00a0<a href=\"\/contact\/\" rel=\"noopener\"><span style=\"text-decoration: underline;\">Send us an email<\/span>\u00a0<\/a>or give us a call and we\u2019ll be happy to provide a little information for you to review.<\/p>\n<p>Keep the conversation going. Follow The Center on Instagram\u00a0<span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.instagram.com\/thegenhq\/\" target=\"_blank\" rel=\"noopener\">@TheGenHQ<\/a><\/span>\u00a0or on Twitter\u00a0<span style=\"text-decoration: underline;\"><a href=\"https:\/\/twitter.com\/GenHQ\" target=\"_blank\" rel=\"noopener\">@GenHQ<\/a>.<\/span>\u00a0We are passionate about sharing our latest generational discoveries!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an age where companies can\u2019t afford to be offline, even financial giant Goldman Sachs launched an official Instagram account in September 2018. What could an Instagram account from Goldman Sachs possibly feature? They post everything including key research findings, notable speakers at the firm, and even unique hobbies of their employees. But who exactly [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":4821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,21,27],"tags":[],"class_list":["post-4820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-igen-and-gen-z","category-selling-and-marketing","category-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Financial Firms are Pivoting Towards Instagram - The Center For Generational Kinetics<\/title>\n<meta name=\"description\" content=\"In an age where companies can\u2019t afford to be offline, even financial giant Goldman Sachs launched an official Instagram account in September 2018. 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