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High Net Worth UAE Audience on Social Media

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Information about High Net Worth UAE Audience on Social Media
Technology

Published on January 8, 2014

Author: linkedineurope

Source: slideshare.net

Description

Reaching the UAE’s high net worth individuals on LinkedIn

LinkedIn is the most popular social media platform for high net worth individuals in the United Arab Emirates, and a frequent source of guidance for both personal and business purchases.

Roughly three quarters (73%) of the UAE’s most affluent consumers, using social media, , using social media, are on LinkedIn, and virtually all of these (92%) access the platform several times a week. Mobile devices play a key role in keeping high net worth individuals constantly connected to their LinkedIn feeds: 74% access LinkedIn via smartphone and 77% do so using a tablet.

An appetite for professional insight and productivity drives high net worth individuals’ constant connection with LinkedIn. Professional connections, creating professional content and following influencers, brand and experts are amongst the top reasons for logging on. However, LinkedIn expertise also exerts strong influence over affluent consumers’ personal purchases and financial decisions.

LinkedIn is the most trusted social media source of financial information for the high net worth audience in the UAE and 78% of this audience use social media for at least one financial purpose: consuming news, reviews and information on financial developments, gathering information to guide investment decisions and evaluating the financial decisions that they have already taken. Social media is highly influential in every stage of the financial purchase cycle and its influence is set to increase. Almost half (48%) of these high net worth individuals say that social media directs their opinions of financial products and services, and one in five expect it to become more influential in the next 12 months.
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CONTENTS SECTION 1 Social media usage SECTION 2 Use of social media for financial information SECTION 3 Key findings & best practices 2

High Net Worth Individuals are engaged on social media 97% AED 3.8m -< 6m 100% AED 6m -< 12m USE SOCI AL M EDI A 100% AED 12m+ Join the Dots Research, UAE November 2013 Base: HNW social media users 3

LinkedIn is the most used social media site among High Net Worth Individuals 73% 72% 63% 37% Join the Dots Research, UAE November 2013 Base: HNW social media users 29% 4

High Net Worth Individuals in the UAE access LinkedIn on a regular basis Frequency of social media access 92% of High Net Worth LinkedIn users in the UAE access LinkedIn several times a week Join the Dots Research, UAE November 2013 Base: HNW social media users 5

High Net Worth Individuals access LinkedIn via a mobile device more frequently than any other social media site 74% 77% 94% 95% access LinkedIn via a smartphone access LinkedIn via a tablet device access LinkedIn via a smartphone at least one a week access LinkedIn via a tablet at least one a week Join the Dots Research, UAE November 2013 Base: HNW social media users 6

High Net Worth Individuals mostly use social media for professional purposes Connect with colleagues Create professional content Join the Dots Research, UAE November 2013 Base: HNW social media users Read updates/posts and stay up-to-date with colleagues Follow experts, influencers, companies & brands 7

CONTENTS SECTION 1 Social media usage SECTION 2 Use of social media for financial information SECTION 3 Key findings & best practices 8

When is comes to financial information, High Net Worth Individuals use social media to consume, explore & inform Aspects of social media used for financial purposes 48% Read financial reviews/recommendations 29% Use as a source for financial news/content Receive updates from financial services companies and/or experts 22% 31% Search for key financial topics/information 39% Follow a recognised industry expert 32% Participate in online polls/surveys Join the Dots Research, UAE November 2013 Base: HNW social media users Explore Content 38% Subscribe to financial related feeds/blogs Participate in groups/community discussions Consume Financial Content 26% Inform 9

Social media has a purpose throughout each stage of the financial purchase journey 78% of HNWI’s in the UAE who use social networks will use them for at least one financial purpose 74% Keep up-to-date with current financial trends Gather preliminary information about financial products, policies or institutions 71% 65% Seek advice/gather information to help make a financial decision Re-evaluate a financial decision that has already been made Recommend a financial product, policy, or service Join the Dots Research, UAE November 2013 Base: HNW social media users 60% 57% 10

LinkedIn is the most trusted source for financial information • 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, UAE November 2013 Base: HNW social media users 11

The influence of social media for financial decision making is set to increase over the next 12 months 46% 1in5 believe social media is influential when forming opinions about financial products/services believe social media will become more influential in the next 12 months when forming opinions about financial products/services Join the Dots Research, UAE November 2013 Base: HNW social media users 12

CONTENTS SECTION 1 Social media usage SECTION 2 Use of social media for financial information SECTION 3 Key findings & best practices 13

SUMMARY OF FINDINGS 1. 97% HNW individuals in the UAE 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 making journey 14

BEST PRACTICE FOR MARKETERS Target Publish 1. Leverage LinkedIn’s identified Affluent audience 1. Help HNWs with informative dynamic and static content 2. Deliver across Desktop and Mobile devices 2. Curate the story – leverage your own content assets and that of partners 3. 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 Make your content snackable 4. Extend Make it relevant 15

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