• Save
Influencing the mass affluent - The Netherlands
 

Influencing the mass affluent - The Netherlands

on

  • 2,290 views

Europeans with significant investable assets expect to engage with finance brands through social media – both to improve their customer experience and to guide future decisions on products and ...

Europeans with significant investable assets expect to engage with finance brands through social media – both to improve their customer experience and to guide future decisions on products and investments.

The Mass Affluent, those with investable assets of between €75,000 and €750,000, are amongst the most active and engaged social media users – and see social platforms as an essential element in their relationships with financial institutions. In a groundbreaking study by LinkedIn and Cogent covering France, The Netherlands and the UK, more than 84% of the mass affluent audience in each country were active on social platforms; at least 40% engaged with financial companies, and at least 30% read content shared by those companies.

In each country, mass affluent audiences opted for LinkedIn as their most trusted social media source for financial information, and the platform they are most likely to turn to for the content that matters to them. Information on new products and services, market commentary, service updates and general company information figured prominently amongst the most sought-after content from banks, credit card companies, insurance brands and brokers. When asked what they hoped to gain from engaging with such companies through social media, Mass Affluents pointed to improved customer service, greater transparency and timely, relevant content.

Across all three countries, and all types of financial sectors, the information discovered and considered through social media is a key driver of immediate action amongst the mass affluent audience. Of those using social media for both discovery and consideration, 63% were driven to take action such as purchasing a product or opening an account. And the comments that Mass Affluents share have a vital role to play in amplifying awareness and engagement amongst their peers. Almost a quarter of those in the UK and over a third of those in France and The Netherlands read others comments on the content shared by financial companies.

Statistics

Views

Total Views
2,290
Views on SlideShare
2,176
Embed Views
114

Actions

Likes
0
Downloads
0
Comments
0

2 Embeds 114

http://www.socialmediaacademie.nl 111
http://localhost 3

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • Q 8. Which of following types of social media services or tools have you used in the past 12 months? Select ALL that applyQ48-53:Below are a number of ways you may interact with financial companies or institutions via social media. Please tell us on which, if any, social media platforms you do each of the following:Follow or like companiesEngage in conversation/share your opinion with companies Participate in group discussions hosted by companiesReceive service/support from companiesRead posts/content from companiesReview multimedia content from companies (e.g., watch video or website, listen to podcast)Q 46. How, if at all, have you participated in content that has been distributed or shared on social media by a financial company or institution (e.g., a blog post, market commentary article, shared insight, etc.)? Select ALL that apply
  • Q16-34 Below are a number of activities/actions you may take on social media. Please tell us on which, if any, social media platforms you do each of the following activities (among platform users)1 in 2 use social to connect with professionals: (combines current OR past colleagues)53%– combine current/past colleagues (264/502)Among these, 65% LI (171/264), 56% FB (147/264), 3% Twitter (9/264)1 in 3 use social to consume professional content29% use social to receive updates related to my job or industry Among these, 75% use LI for this purpose, vs. 21% FB, 13% Twitter. 1 in 4 use social to create professional content 22% use social to post updates related to my job or industryAmong these, 72% use LI for this purpose, vs. 30% FB, 9% Twitter.
  • Q 40. For which of the following purposes have you turned to social media? Select ALL that applyQ 43. Which of the following actions, if any, have ever occurredas a result of your hearing or reading something on social media? Select ALL that applyDiscovery:Turn to social to keep up-to-date on financial trends or gather preliminary information about products/policies/solutions, or institutions/companiesHave learned of a financial company/institution or product/policy solution via social mediaConsideration:Turn to social to seek advice or gather information to help make a specific financial decision, or rethink a financial decision I have already madeHave conducted additional research or asked a financial professional, family member, friend or colleague about a financial product/policy/account type after learning about it on social mediaDriven to action:Open/close account or purchase product/policy as a result of learning or evaluating on social
  • Q 60. If a [INSERT FINANCIAL_SECTOR] were to have a presence on social media, what would you consider the most valuable result of this presence? Please rank up to 3, where 1 is most important, 2 is second most important, and 3 is third most important.
  • Q58. If a [INSERT FINANCIAL_SECTOR] were to have a presence on a social media platform (sponsor a group, establish a company page, etc.), what types of information would you want to receive from it? Select all that apply
  • Q58. If a [INSERT FINANCIAL_SECTOR] were to have a presence on a social media platform (sponsor a group, establish a company page, etc.), what types of information would you want to receive from it? Select all that apply
  • Q63, 65, 66: How much do you agree or disagree with each of the following statements (LINKEDIN)? I trust financial information from an article shared by my LinkedIn networkI trust financial information shared by a financial company or institution I follow on LinkedInI trust financial information shared by a financial professional/expert on LinkedInQ68-70 How much do you agree or disagree with each of the following statements (TWITTER)? I trust financial information from an article shared by my Twitter networkI trust financial information shared by a financial company or institution I follow on Twitter I trust financial information shared by a financial professional/expert on Twitter Q72, 74, 75: How much do you agree or disagree with each of the following statements (FACEBOOK)? I trust financial information from an article shared by my Facebook networkI trust financial information shared by a financial company or institution I follow on Facebook I trust financial information shared by a financial professional/expert on Facebook Q77, 78, 79, 82: How much do you agree or disagree with each of the following statements?I trust financial information from work colleaguesI trust financial information from articles on finance websitesI trust financial information posted on financial company websitesI trust financial information from friends and family
  • Q48-53 (LinkedIn):Below are a number of ways you may interact with financial companies or institutions via social media. Please tell us on which, if any, social media platforms you do each of the following:Q 83. How influential have the following platforms been in decisions related to your personal finance?
  • 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.

Influencing the mass affluent - The Netherlands Influencing the mass affluent - The Netherlands Presentation Transcript

  • 1Influencing theMass AffluentBuilding relationships on social media
  • 2Mass Affluent arehighly engaged on social mediaCogent Research, Netherlands March 2013Base: Mass Affluentengage withfinancial companies55%engage with content fromfinancial companies43%Among Mass Affluent social media users:98%Use Social Media
  • 3They use social media for professional purposes –to connect, consume and create3in4use social toConnectwith professionals1in2use social toConsumeprofessional content2in5use social toCreateprofessional contentCogent Research, Netherlands March 2013Base: Mass Affluent social media users
  • 4Among those who use social for BOTH discoveryand consideration, nearly 2/3 are driven to actionBOTHConsiderationUse social to stayup-to-date onfinancial trends orcompanies.Use social to seekadvice or gatherinfo to make afinancial decision.21% 32%63%DiscoveryDRIVEN TO ACTIONOpen/close account or purchase productCogent Research, Netherlands March 2013Base: Mass Affluent social media users
  • 52.TimelyUpdatesCustomer service and relevant contentpresentkey opportunities for marketersTop benefits cited by Mass Affluent from engaging with financial institutions on social media:1in3 Consider improved customer service the mostvaluable result from financial companies on social1.Improvedcustomer service3. Greatertransparency ofinformationCogent Research, Netherlands March 2013Base: Mass Affluent social media users
  • 6New product information is a desiredcontent type across sectorsBANKS INSURANCE COMPANIESTop information Mass Affluent want from financial institutions on social media (by sector):1 | Market commentary2 | New product info3 | Company info1 | New product info2 | Company info3 | Market commentary2 | New product info1 | New product info1 | New product info2 | Account changes3 | Company info1 | New product infoCREDIT CARDSCogent Research, Netherlands March 2013Base: Mass Affluent social media users
  • 7*Communication gap = difference from content that is desired and what they actually receive1 | New product info2 | Account changes3 | Company info34%20%CREDIT CARDSA communication gap exists between the contentMass Affluent want and what finance companiesprovideCogent Research, Netherlands March 2013Base: Mass Affluent social media users1 | New product info2 | Company info3 | Market commentary25%14%INSURANCE COMPANIES (P&C)1 | Market commentary2 | New product info3 | Company info40%34%BANKS Communication Gap*18%29%16%
  • 875831151290 100Traditional sources for financialinformationTrust Index of Channels for Financial Information:Based on relative trust of info from 3 sources (peers, companies, and experts) across all platforms / categoriesLinkedIn is the most trusted social mediasource for financial informationTrust Index is comprised of the following attributes average scores indexed to 100:• Social platforms: Trust of financial information shared through an article on my network, by a financial company orinstitution, by a financial professional/expert• Traditional sources: Trust of financial information from work colleagues, from friends and family, posted on financialcompany websites, from articles on finance websitesCogent Research, Netherlands March 2013Base: Mass Affluent
  • 9Service or supportPosts & multimedia content1:1 communicationGroup discussionshosted by companyOn LinkedIn, brands can accelerate influencewith European Mass Affluent through socialdialogueCogent Research, UK/FR/NL March 2013Base: Mass Affluent social media users in UK/FR/NLBUILD FOUNDATIONS ACCELERATE INFLUENCE
  • 10Nearly all Mass Affluent use social media.Over half engage with financial institutions on social.Two out of five engage with their social content.Top benefits received by Mass Affluent on social:1) customer service, 2) timely updates, 3)transparency of information.14%-40% communication gap between the top 3 infoexpected and what is actually received on social.Nearly 2 in 3 are driven to take action when social isused for both discovery and consideration.Summary of key findings12345
  • 11Mindset mattersRelevance is keyDiscussion drives influenceHighlight new productsTarget messages by Life StageBest practices for marketers12345