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Do you know how the ultra affluent use social media? Find out.
 

Do you know how the ultra affluent use social media? Find out.

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The social media real estate you put time into is as important as the suburb you invest in. The right place at the right price is what gives good returns. ...

The social media real estate you put time into is as important as the suburb you invest in. The right place at the right price is what gives good returns.

For time-poor professionals looking to start out in social media the sheer number of platforms to choose from can feel overwhelming – LinkedIn, Twitter, Facebook, YouTube, Pinterest, Google Plus? It’s a bit like selecting the ‘all suburbs’ search when you are trying to find somewhere to live.

While I am loathe to suggest one platform to the exclusion of others (because together they create an amplification effect) if you’re a professional or need to reach high net worth individuals then research suggests that a great place to live is LinkedIn.
This is why.

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Do you know how the ultra affluent use social media? Find out. Do you know how the ultra affluent use social media? Find out. Presentation Transcript

  • How the ultra- affluent use social media? Dionne Kasian Lew @dionnelew
  • The social media real estate you put time into is as important as the suburb you invest in.
  • The right place at the right price is what gives good returns.
  • For time-poor professionals starting out in social media the sheer number of platforms to choose from is overwhelming.
  • Sheeeeeeeesh!
  • It’s like selecting the ‘all suburbs’ search when you’re trying to find a place to live.
  • http://www.gratisography.com/pictures/103H.jpg
  • While I am loathe to suggest one platform to the exclusion of others because they amplify each other, IF you’re a professional -
  • AND you need to reach high net worth individuals -
  • research saysthat a great place to live is LinkedIn.
  • Cogent Research found of the 90% of high net worth people who use social media, 73% spend it on LinkedIn
  • Why?
  • 1. to do research -
  • 2. to form connections -
  • 3. to establish mutually beneficial business partnerships.
  • “Does that sound pretty much like what you already do day to day?”
  • IT IS!
  • While you move up & down your local & are introduced to people you want to know by those you know …
  • …LinkedIn creates a business network that is effectively borderless
  • Do these relationships count?
  • They really do.
  • The Edelman Trust Barometer shows a decline in trust in institutions & leaders over many years.
  • At the same time, with peers it is high and growing.
  • Conversations we we have with people influence what we think & do -
  • - whether over coffee or through clicks.
  • Cogent showed 1/3rd of affluent investors are using social media for personal finance &inve sting – BETTER YET
  • - 70 % changed relationships or reallocated investments as a result of content they’d found in social networks.
  • Advisors are getting onto this and it works.
  • RESEARCH
  • The ultra-affluent are passionate about high quality investment research -
  • SO ASK YOURSELF THESE 7 QUESTIONS -
  • 1. Is your product or service of interest to affluent investors?
  • 2. What high quality information do you already generate that may of interest to them?
  • 3. Do you share it on LinkedIn?
  • 4. How to you form relationships with those who read it?
  • 5. Are you extending the connections you make through the network by bringing them offline?
  • 6. What is your strategy for generating future content?
  • 7. Do you have a LinkedIn Company Page?
  • 7, 6, 5, 4, 3, 2, 1
  • RELATIONSHIPS
  • Like in life online business is about mutually beneficial relationships -
  • & here again LinkedIn is a great MatcH-MakeR.
  • Cogent found 46% of investors in social did not have a financial advisor BUT BUT BUT 52% said they would connect with one through social.
  • 28% said they would see a financial company as “innovative” or a “Leader in the industry” for offering social.
  • In the US – most Fortune 100 companies use social media & according to LinkedIn (2013) all executives from Fortune 500 companies are members.
  • The FTSE Social Media Index shows 86% of FTSE100 are on LinkedIn as part of their communications strategy
  • ½ 0f Australia’s top publicly listed companies are there. ONLY
  • Ooooooooops!
  • CASE STUDIES
  • 1. Derivates exchange Eurex gained exposure to 800,000 finance decision makers through a LinkedIn campaign.
  • 2. Zurich built a thought-leader campaign around its Head of Financial Institutions with a strong flow of high-value sales leads and a click-through rate 3x times the LinkedIn average.
  • 3. Oppenheimer Funds gained 3.3 million impressions & +11,000 clicks, raising its brand with Financial Advisors through the LinkedIn iPad app.
  • It’s as easy as -
  • 1, 2, 3.
  • NEXT UP
  • More socially savvy Gen X and Gen Y investors getting more affluent – meaning -
  • (you know).
  • 2 Don’ts, 3 Dos and 1 DoDon’t for professionals -
  • 1. “What you see is what you you get”. Don’t use a blurry or provocative photo. Professional is good .
  • 2. Don’t endorse someone you can’t vouch for. Common sense, but you’ll be surprised how many people you’ve never dealt with are happy to endorse you.
  • 3. Don’t display a false endorsement it could be misleading.
  • 4. When you meet someone new DO follow up with an invite to connect on LinkedIn.
  • 5. DO work out who owns your social media account and the rules of engagement. Your firm should have a social media policy you can refer to.
  • 6. DO be aware of regulations in your industry but DO NOT be afraid of them. Regulators around the world acknowledge the power of social media for business and have an important role in balancing innovation and protection. This space is evolving all the time. In Australia the ASX encourages companies to monitor social media and consumer watchdog ACCC has developed social media guidelines. Your country and industry will have its own.
  • Speaker | Author | Consultant @dionnelew dionnekasianlew.com thesocialexecutivebook.com You CAN BOOK ME TO speak to your team +61 458 974 854 OR dionne@dionnekasianlew.com
  • Connect with me on LinkedIn – au.linkedin.com/in/dionnelew Thank you for your time and attention.