In the wake of COVID-19, the world has suffered in a lot of ways. This pandemic has also caused an economic crisis in many parts of the world as many people look for new ways to financially recover and manage their current finances from this crisis.
Due to the lockdown and social distancing rules, people can not go to the outside world to get aid for their finances and meet up with a financial provider. So, they turn their gaze to online platforms such as social media to connect with the financial providers. Having an online presence for financial providers is a very convenient way to connect with consumers; however, due to less popularity on Facebook, they are failing to make an impact on the platform.
Facebook recognized this problem and addressed it in a new report that gave a few useful tips for the financial providers on how they can readily connect with the people in need. The report suggests that data used for this was generated from 1000 consumers regardless of them having a bank account and aged from 18 and over. The survey was done under the supervision of Audience Theory and Ipsos, who was commissioned by Facebook’s IQ Team. However, the survey took place in late 2019, so it was before the time of COVID-19.
Facebook has put together a chart based on the key findings of the survey to aid financial providers for helping those in need.