Influencing the Mass Affluent Infographic

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Mass Affluent in Canada, who control between $100,000 - $1M in investable assets, are increasingly engaging with financial institutions on social media – representing a significant opportunity for finance marketers to build relationships.

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Influencing the Mass Affluent Infographic

  1. 1. INFLUENCING THE MASS AFFLUENT $ Mass Affluent in Canada, who control between $100,000 - $1M in investable assets, are increasingly engaging with financial institutions on social media – representing a significant opportunity for finance marketers to build relationships. The Mass Affluent are highly engaged on social media Social media is an important purchase driver for the Mass Affluent. Nearly 2 in 3 are driven to action after using social for discovery and consideration.1 83% use social media DISCOVERY Use social media to stay up to date on financial trends or companies. Out of Mass Affluent Social Media users: 38% 29% engage with financial companies 27% follow or like financial companies 21% read content shared by financial companies 27% review multimedia content shared by financial companies Companies are top source of financial information learned on social media BOTH Use social media to seek advice or info to make a financial decision. 63% 32% DRIVEN TO ACTION (Open/Close account or purchase product) engage with content from financial companies 30% CONSIDERATION Marketers must understand what the Mass Affluent want most on social media Top 3 most valuable outcomes Mass Affluent gain from finance companies on social: 1. Relevant content 2. Timely updates 3. Improved customer service If Mass Affluent learn about a financial company on social media, this info most likely comes from: New product info is wanted on social media across all sectors 1. Company content or updates 2. Industry expert 48% 38% Top social content expected by sector: 3. Advertisement 28% If Mass Affluent learn about a financial product, policy, or account on social media, this info most likely comes from: 35% 1. New product information 2. Account changes 3. Company information 3. My network 52% 1. New product information 3. Performance updates 2. Industry expert BANKS/CREDIT CARD 2. Market commentary 1. Advertisement BROKERAGES 35% Source: Unless otherwise indicated, all data is from commissioned Cogent Research study, CA data Q1 2013 1 36% of Mass Affluent use social for both discovery and/or consideration. Global data. 27-47% COMMUNICATION GAP between the top three types of information expected and what’s actually received on social media.

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