Visit http://lnkd.in/affluent for the full report.
Nearly 90% of the Mass Affluent use Social Media -- To understand how social impacts their financial decision making, LinkedIn teamed up with Cogent Research and found that relevant content is key to driving action among this valuable group.
Download the whitepaper at http://lnkd.in/affluent to learn more about:
- The most valuable outcomes from financial companies on social
- Top content expected from banks, brokerages, and credit card companies
- How content expectations differ by Mass Affluent life stage
Call Girls In Radisson Blu Hotel New Delhi Paschim Vihar ❤️8860477959 Escorts...
Influencing the Mass Affluent
1.
2. 2
The Mass Affluent are a significant
financial sector opportunity
1. Forrester Research
$100K-$1M
In investible assets
40M
Individuals in the U.S.1
3 distinct life stages
• Accumulating wealth
• Soon-to-retire
• Retired
3. 3
Mass Affluent are highly engaged on
social media
Cogent Research, U.S. March 2013
Base: Mass Affluent
engage with financial companies
44%
engage with content from
financial companies
34%
Among Mass Affluent social media users:
87%
Use Social Media
4. 4
They use social media for professional
purposes – to connect, consume and create
1in 4
Use social to
Create professional content
1in 3
Use social to
Consume professional content
1in 2
Use social to
Connect with professionals
Cogent Research, U.S. March 2013
Base: Mass Affluent
5. 5
Among those who use social for BOTH
discovery and consideration, nearly 2/3 are
driven to action
Discovery
BOTH
Consideration
Use social to
stay up-to-
date on
financial
trends or
companies.
Use social to
seek advice or
gather info to
make a
financial
decision.
DRIVEN TO ACTION
Open/close account or purchase product
21% 32%
63%
Cogent Research, Global March 2013
Base: Global Mass Affluent social media users
6. 6
Ads and brand content are
key sources of learning
Info about financial
product or account
Info about financial
company
60%
34%
30%
38%
55%
25%
28%
34%
An advertisement
Company sponsored content/updates
A member of my social network
An industry expert/executive
“What was the specific source of the financial information you learned via social media?”
Cogent Research, U.S. March 2013
Base: Mass Affluent social media users
7. 7
Customer service and relevant content
present key opportunities for marketers
Top benefits cited by Mass Affluent from engaging with financial institutions on social media:
3) Relevant content
1) Improved customer service
2) Timely updates
1in 5
Consider relevant content the
most valuable result from
financial companies on social
Cogent Research, U.S. March 2013
Base: Mass Affluent social media users
8. 8
Expectations on social media differ by
life stage
Accumulating Wealth
• Value
RELEVANT CONTENT
• Expect banks and credit
cards to have a social
presence
Soon to Retire
• Value
TIMELY UPDATES
• Expect brokerages to
have a social
presence
Retired
• Value
CUSTOMER SERVICE
Cogent Research, U.S. March 2013
Base: Mass Affluent social media users
9. 9
New product information is the
most desired content type across sectors
BROKERAGES BANKS / CREDIT CARDS
Top information Mass Affluent want from financial institutions on social media (by sector):
1 | New product info
2 | Market commentary
3 | Product performance
1 | New product info
2 | Account changes
3 | Company info
1 | New product info 1 | New product info
Cogent Research, U.S. March 2013
Base: Mass Affluent social media users
10. 10
*Communication gap = difference from content that is desired and what they actually receive
1 | New product info
2 | Market commentary
3 | Product performance
40%
35%
34%
1 | New product info
2 | Account changes
3 | Company info
39%
33%
27%
BANKS /
CREDIT CARDS
BROKERAGES Communication Gap*
A communication gap exists between the
content Mass Affluent want and what
finance companies provide
Cogent Research, U.S. March 2013
Base: Mass Affluent social media users
11. 11
Build the Foundation
with:
Company posts or content
Service or support
Accelerate Influence
with:
Group discussions
hosted by company
1:1 communication
On LinkedIn, brands can accelerate
influence with Mass Affluent through
social dialogue
Cogent Research, U.S. March 2013
Base: Mass Affluent social media users
12. 12
Nearly 9 in 10 Mass Affluent use social media.
Almost half engage with financial institutions on
social. One-third engage with their social content.
Top benefits received by Mass Affluent on social:
1) customer service, 2) timely updates, 3) relevant
content.
27-40% communication gap between the top 3 info
expected and what is actually received on social.
Nearly 2 in 3 are driven to take action when social is
used for both discovery and consideration.
Summary of key findings
1
2
3
4
5
13. 13
Mindset matters – align with the social context that
best fits your brand’s objectives.
Relevance is key – improve value exchange and trust
with relevant content, particularly for younger Mass
Affluent.
Discussion drives influence – company posts lay
the foundation, while group discussions accelerate
influence.
Highlight new products – new product info is the
most desired information on social across all sectors.
Target by Life Stage – younger Mass Affluent expect
relevant content, soon-to-retire want timely updates,
and the retired expect customer service.
1
2
3
4
5
Best practices for marketers
14. 14
Survey Design, Sample, and Data Collection
Mode: Online survey
Field timing: March 1 – 13, 2013
Population: Mass Affluent in the United States (n=502)
Screening:
• $100k - $1M in investable assets (includes all cash, savings, mutual
funds, stocks, bonds, retirement accounts, and all other types of
investments and real estate ventures, but excludes primary residence and
vacation homes)
• Have an account, product, or policy with a either a bank, credit card
company, brokerage, asset manager, property/casualty insurance
company, or life insurance company
Methodology