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.
2. 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
3. High Net Worth Individuals are engaged on
social media
$1.1m -< $1.5m
67%
76%
66%
$1.5m -< $3m
$3m+
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Base: HNW social media users 3
U S E S O C I A L M E D I A
4. 49% 44% 41%
23%
13%
LinkedIn is the most used social media site among High
Net Worth Individuals
4
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Base: HNW social media users
5. 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
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Base: HNW social media users
6. High Net Worth Individuals access LinkedIn via a mobile device
more frequently than any other social media site
6
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Base: HNW social media users
73%
access LinkedIn via a smartphone
67%
access LinkedIn via a tablet device
7. 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
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Base: HNW social media users
8. 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
9. When is comes to financial information, High Net Worth Individuals
use social media to consume, explore & inform
9
Consume
Financial Content
Explore Content
Inform
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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
10. 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
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Base: HNW social media users
11. • Social platforms: Trust of financial information shared through an article on my network, by a financial
company or institution, by a financial professional/expert
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Base: HNW social media users
LinkedIn is the most trusted source for financial information
11
12. 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
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Base: HNW social media users 12
13. 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
14. 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
15. 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