Mass Affluent Infographic - European Comparison

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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.

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Mass Affluent Infographic - European Comparison

  1. 1. Source: Unless otherwise indicated, all data is from commissioned Cogent Research study, Netherlands data Q1 2013INFLUENCING THEMASS AFFLUENTIn Europe Mass Affluents are increasinglyengaged with financial institutions on socialmedia - representing a significant opportunityfor finance marketers to build relationships.1. Improvedcustomer service3. Timelyupdates2. Relevantcontent£Used any social media past 12 months84% 85% 98%Engage with content fromfinancial companiesEngage with financialcompanies on social mediaUK26%FRANCE51%NETHERLANDS28%Follow or like financial companiesUK31%FRANCE55%NETHERLANDS47%Read content shared by financial companies.UK FRANCE NETHERLANDSExpect social media presence: Expect social media presence: Expect social media presence:Top 3 most valuable outcomesof financial companies’social media presence:Top 3 most valuable outcomesof financial companies’social media presence:Top 3 most valuable outcomesof financial companies’social media presence:UKUKBANKSFRANCE NETHERLANDS15% 32% 11%Like content shared by financial companies.Read comments on content shared by financial companies.UK FRANCE NETHERLANDS24% 35% 35%UK26%FRANCE53%NETHERLANDS33%Review multimedia content shared by financial companies.UK40%FRANCE65%NETHERLANDS55%UK FRANCE NETHERLANDS32% 57% 43%£ €FRANCE NETHERLANDS20% 35% 18%31%19%3. Relevantcontent15%17%1. Improvedcustomer service3. Timelyupdates2. Greatertransparency ofinformation32%18% 16%1. Improvedcustomer service2. Greatertransparency ofinformation34%23%1. New product orservices information3. Generalcompanyinformation2. Updates on planor accountchangesTop 3 types of information wantedfrom banks on social media:Top 3 types of information wantedfrom banks on social media:Top 3 types of information wantedfrom banks on social media:53%46% 32%1. New product orservices information3. Market andeconomiccommentary53%35%2. Generalcompanyinformation37%1.Market and economiccommentary3. Generalcompanyinformation60%2. New productor servicesinformation52% 48%1. Improvedcustomer service3. Greatertransparency ofinformation2. RelevantcontentExpect social media presence: Expect social media presence: Expect social media presence:Top 3 most valuable outcomesof financial companies’social media presence:Top 3 most valuable outcomesof financial companies’social media presence:Top 3 most valuable outcomesof financial companies’social media presence:UKCREDIT CARD COMPANIESFRANCE NETHERLANDS24%24% 30% 34%24%21%2. Relevantcontent19%21%2. Timelyupdates15%1. Improvedcustomer service40%1. Improvedcustomer service49%3. Greatertransparency ofinformation16%3. Greatertransparency ofinformation14%1. New product orservices information3. Generalcompanyinformation2. Updates on planor accountchangesTop 3 types of information wantedfrom credit card companieson social media:Top 3 types of information wantedfrom credit card companieson social media:Top 3 types of information wantedfrom credit card companieson social media:41%38% 27%1. New product orservices information3. Updates onaccountchanges40%30%2. Updates onaccount or policychanges32%1. New product orservices information45%2. Generalcompanyinformation30%3. Generalcompanyinformation29%EUROPE

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