Engaging with Australia's High Net Worth on Social Media

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High Net Worth Individuals in Australia are increasingly engaging with social media for financial purposes – representing a significant opportunity for finance marketers to build relationships.

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Engaging with Australia's High Net Worth on Social Media

  1. 1. C O N T E N T S 1S E C T I O N Social media usage 2S E C T I O N Use of social media for financial information 3S E C T I O N Key findings & best practices S E C T I O N 2
  2. 2. High Net Worth Individuals are engaged on social media $1.1m -< $1.5m 67% 76% 66% $1.5m -< $3m $3m+ Join the Dots Research,AU November 2013 Base: HNW social media users 3 U S E S O C I A L M E D I A
  3. 3. 49% 44% 41% 23% 13% LinkedIn is the most used social media site among High Net Worth Individuals 4 Join the Dots Research, AU November 2013 Base: HNW social media users
  4. 4. Frequency of social media access High Net Worth Individuals in Australia access LinkedIn on a regular basis 68% of High Net Worth LinkedIn users in Australia access LinkedIn several times a week 5 Join the Dots Research, AU November 2013 Base: HNW social media users
  5. 5. High Net Worth Individuals access LinkedIn via a mobile device more frequently than any other social media site 6 Join the Dots Research, AU November 2013 Base: HNW social media users 73% access LinkedIn via a smartphone 67% access LinkedIn via a tablet device
  6. 6. Connect with colleagues Read updates/posts and stay up-to-date with colleagues Follow experts, influencers, companies & brandsCreate professional content High Net Worth Individuals mostly use social media for professional purposes 7 Join the Dots Research, AU November 2013 Base: HNW social media users
  7. 7. 2 1 C O N T E N T S S E C T I O N Use of social media for financial information 3S E C T I O N Key findings & best practices S E C T I O N Social media usage 8
  8. 8. When is comes to financial information, High Net Worth Individuals use social media to consume, explore & inform 9 Consume Financial Content Explore Content Inform Join the Dots Research, AU November 2013 Base: HNW social media users 21% 37% 34% 36% 48% 44% 52% 59% Participate in groups/community discussions Participate in online polls/surveys Subscribe to financial related feeds/blogs Follow a recognised industry expert Search for key financial topics/information Receive updates from financial services companies and/or experts Use as a source for financial news/content Read financial reviews/recommendations Aspects of social media used for financial purposes
  9. 9. 60% of HNWI’s in Australia who use social networks will use them for at least one financial purpose 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 10 Join the Dots Research, AU November 2013 Base: HNW social media users
  10. 10. • Social platforms: Trust of financial information shared through an article on my network, by a financial company or institution, by a financial professional/expert Join the Dots Research, AU November 2013 Base: HNW social media users LinkedIn is the most trusted source for financial information 11
  11. 11. 35% believe social media is influential when forming opinions about financial products/services 1in3 believe social media will become more influential in the next 12 months when forming opinions about financial products/services The influence of social media for financial decision making is set to increase over the next 12 months Join the Dots Research, AU November 2013 Base: HNW social media users 12
  12. 12. C O N T E N T S 1S E C T I O N Social media usage 2S E C T I O N Use of social media for financial information 3S E C T I O N Key findings & best practices 13
  13. 13. 1. 75% HNW individuals in Australia are using social media 2. LinkedIn is the most used social media site with this audience. 3. Mobile is essential for High Net Worth Individuals 4. HNW Individuals largely use social for professional purposes - 1) Connect with colleagues, 2) Consume content & posts from colleagues 3) Follow experts and influencers 5. Social media is important throughout each stage of the financial decision journey. 14 S U M M A R Y O F F I N D I N G S
  14. 14. 15 Target Publish Extend 1. Leverage LinkedIn’s identified Affluent audience 2. Deliver across Desktop and Mobile devices B E S T P R A C T I C E F O R M A R K E T E R S 1. Help HNWs with informative dynamic and static content 2. Curate the story – leverage your own content assets and that of partners 3. Make your content snackable 4. Make it relevant 1. Accelerate the most engaging content through sponsoring or paid for media distribution 2. Leverage LinkedIn Plugins so that content on your site flows out

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