Trends in Finance and Social for 2014

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View the presentation that was given at FinanceConnect Sydney on Thursday May 1 by Jennifer Grazel, LinkedIn's Global Head of Category Development - Financial Services. This presentation showcases the key themes arising from FinanceConnect in New York and through two new pieces of research for SMB and High Net Worth in Australia, demonstrates how these themes translate for the Australian market.

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Trends in Finance and Social for 2014

  1. 1. #inFC14#inFC14 Jennifer Grazel Trends in Finance & Social for 2014
  2. 2. #inFC14#inFC14 Authenticity ● Relevancy ● Dialogue TRUST 2
  3. 3. #inFC14#inFC14 Perspectives from APAC MIKE SMITH, CEO of ANZ #inFC14 3 … part of this transformation is being more transparent, more engaged and more responsive in our communication. As a step in addressing this need, we have launched our own digital publication for news, insight and opinion called BlueNotes. It covers the economy, financial services, investment and society from both within ANZ and from experts outside the bank BECOMING A SOCIALLY ENABLED ORGANIZATION Peter Sands CEO of Standard Charter Bank
  4. 4. #inFC14#inFC14 Perspectives from APAC MIKE SMITH, CEO of ANZ #inFC14 4 … part of this transformation is being more transparent, more engaged and more responsive in our communication. As a step in addressing this need, we have launched our own digital publication for news, insight and opinion called BlueNotes. It covers the economy, financial services, investment and society from both within ANZ and from experts outside the bank BECOMING A SOCIALLY ENABLED ORGANIZATION Peter Sands, CEO of Standard Charter Bank
  5. 5. #inFC14 High Net Worth Investors 5
  6. 6. #inFC14#inFC14 Join the Dots Research,,AU November 2013 Base: HNW social media users High Net Worth Individuals are engaged on social media 6 75%U S E S O C I A L M E D I A $1.1m -< $1.5m 67% 76% $1.5m -< $3m 66% $3m+
  7. 7. #inFC14#inFC14 49% 44% 41% 23% 13% LinkedIn is the most used social media site among High Net Worth Individuals 7 Join the Dots Research, AU November 2013 Base: HNW social media users
  8. 8. #inFC14#inFC14 When it comes to financial information, HNWI use social media to consume, explore & inform Aspects of social media used for financial purposes 8 Join the Dots Research, AU November 2013 Base: HNW social media users Inform Explore Content Consume Financial Content Subscribe to financial related feeds/blogs Receive updates from companies and/ or experts Participate in groups/ community discussions Follow a recognized industry expert Use as a source for financial news/content Participate in online polls/surveys Search for key financial topics /information Read financial reviews/ recommendations 56% 48% 37% 52% 36% 21% 44% 34%
  9. 9. #inFC14#inFC14 Recommend a financial product, policy, or service Seek advice/gather information to help make a financial decision Gather preliminary information about financial products, policies or institutions Keep up-to-date with current financial trends Re-evaluate a financial decision that has already been made 54% 47% 40% 29% 25% Social media has a purpose throughout each stage of the financial purchase journey 60% of HNWIs in Australia who use social networks will use them for at least one financial purpose 9 Join the Dots Research, AU November 2013 Base: HNW social media users
  10. 10. #inFC14 The role of social media in driving SMB growth Market Report: Australia 10
  11. 11. #inFC14#inFC14 DEFINING businesses Small/Medium $8M to $44.9M AUD Upper Medium Over $45M AUD This report explores the way in which SMBs in Australia make use of social media. 11 SMBs surveyed across Australia 240
  12. 12. #inFC14#inFC14 SMBs in Australia are currently experiencing widespread growth… 12 Have experienced an increase in total revenue over the past year Have experienced an increase in customer/client numbers over the past year Have experienced an increase in overall profitability over the past year 70% 69%58% Base: 240 SMBs
  13. 13. #inFC14#inFC14 81% Of SMBs currently use social media 6%Plan to use social media in the future Social media is used by the vast majority of SMBs in Australia… 13 Base: 917 SMBs
  14. 14. #inFC14#inFC14 The #1 challenge facing SMBs in today’s market is attracting new customers 14 65%say social media is a vital resource for getting new customers #inFC14
  15. 15. #inFC14#inFC14 88% Advertise to help increase awareness of my company, products and services 83% Maintain a company presence and identity 79% Deliver content and new information about my company SMB’s see social media offering an effective channel for Marketing and Driving Business. % reporting that social media is effective for… 15 BRANDING ADVERTISING CONTENT DELIVERY 77% Generating new business leads LEAD GENERATION Base: 214 social media users who access for specific business purposes
  16. 16. #inFC14#inFC14 75% Find vendors/ companies that can help my company 73% 65% Learn from experts in my industry …. Along with impacting operational efficiencies and sourcing % reporting that social media is effective for… 16 Find and source new employees 71% Customer service/ support FIND VENDORS INDUSTRY INSIGHTS RECRUIT CUSTOMER SERVICE Base: 214 social media users who access for specific business purposes
  17. 17. #inFC14#inFC14 Over half of SMBs experiencing hyper-growth directly attribute revenue to social media spend. % reporting that social media spend contributed to revenue growth 17 Hyper Growth 58% Growth 39% Base: 167 SMBs experiencing revenue growth
  18. 18. #inFC14 Social media is highly influential when choosing a financial services provider 18
  19. 19. #inFC14#inFC14 Over 3 in 4 use social media for financial purposes… Top 5 uses of social media for financial purposes Keep up-to-date on financial trends 01 43% 02 Gather preliminary financial information 40% 03 Seek advice on a financial decision 32% 04 Recommend a financial product to others 26% 05 Evaluate or re-think a previous financial decision 21% Base: 223 social media users have used social media for finance-related reasons78% 19
  20. 20. #inFC14#inFC14 …with more than half of respondents suggesting they are open to receiving financial information from LinkedIn Openness to receiving financial content and information on social media sites 20 of hyper-growth businesses are receptive to receiving financial content on LinkedIn 68% 55% 41% 35% 21% 18%46% Base: 240 SMBs
  21. 21. #inFC14#inFC14 Of the 2/3 of SMBs who actioned a response, 1/3 being driven to purchase. Path to Purchase 21 DISCOVERY Gather info / stay up- to-date CONSIDERATION Seek advice/info to make a purchase DRIVEN TO PURCHASE ON LINKEDIN (Insurance policy and/or investment product) 36% Base: 143 LinkedIn users
  22. 22. #inFC14#inFC14 22#inFC14
  23. 23. #inFC14#inFC14 HSBC Global Connections enables the bank to move further upstream to support business decision- making, helping companies expand internationally 23
  24. 24. #inFC14#inFC14 The challenge… 24 How can we engage with such a busy target audience? How do we make sure they come back and read more? How can we share this content with them? How do we grab their attention?
  25. 25. #inFC14#inFC14 HSBC Commercial Banking LinkedIn company page 25 32,915 followers
  26. 26. #inFC14#inFC14 ACTIVITY OVERVIEW Flight Time: Sep 2013 – Dec 2013 (avg. 3 SUPs per week) Total Campaigns for the period: 43 Update Flight Time: 3 days TESTING VARIABLES Pricing ● Seniority ● Market Split ● Content KPIs Impressions ● Clicks ● Engagement Rate ● Price ● Followers LinkedIn Sponsored Updates… 26
  27. 27. #inFC14#inFC14 Overview of results… 27 Top 5 Industries by engagement rate Import/ export GC content reached over 50 countries 32,000+ Interactions with GC content  100% of followers gained are manager and above vs. 40% of organic  3X increase in the rate of follower growth Clicks Social Engagements Follows Int. Trade Banking Machinery Mining
  28. 28. #inFC14#inFC14 Content results: Top 3 posts 28 #1 │ 0.76% ER #2 │ 0.67% ER #3 │ 0.64% ER
  29. 29. #inFC14#inFC14 Why is this content engaging? 29

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