Published on November 28, 2013
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 67% £640K -< £1m 70% USE SOCIAL MEDIA 76% £1mK -< £2m 66% £2m+ Join the Dots Research,UK, November 2013 Base: HNW social media users 3
LinkedIn is the most used social media site among High Net Worth Individuals 51% Join the Dots Research,UK November 2013 Base: HNW social media users 41% 32% 22% 19% 4
High Net Worth Individuals in the UK access LinkedIn on a regular basis Frequency of social media access 71% of High Net Worth LinkedIn users in the UK access LinkedIn several times a week Join the Dots Research,UK 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 30% No 30% No 70% Yes Join the Dots Research,UK November 2013 Base: HNW social media users 70% Yes 6
High Net Worth Individuals mostly use social media for professional purposes Connect with colleagues Create professional content Join the Dots Research,UK 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
HNW Individuals in the UK look to social media for various finance purposes such as recommendations, news content and expert opinions Aspects of social media used for financial purposes 50% Read reviews/recommendations 49% Use as a source for news/content Receive updates from financial services companies and/or experts Consume Financial Content 44% 43% Search for key topics/information Explore Content Follow a recognised industry expert/executive Subscribe to financial related feeds/blogs Participate in online polls/surveys Join the Dots Research,UK November 2013 Base: HNW social media users 36% 34% 31% Inform 9
Social media has a purpose throughout each stage of the financial purchase journey 61% of HNWI’s in the UK who use social networks will use them for at least one financial purpose 53% Keep up-to-date with current financial trends Gather preliminary information about financial products, policies or institutions 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,UK November 2013 Base: HNW social media users 48% 44% 33% 30% 10
LinkedIn is the most trusted source for financial information 1st 2nd 3rd • 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,UK 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 More than 29% 1in4 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,UK November 2013 Base: HNW social media users 12
CONTENTS SECTION 2 Social media usage SECTION 3 Use of social media for financial information SECTION 4 Key findings & best practices 13
SUMMARY OF FINDINGS 1. 7 in 10 HNW individuals in the UK 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
BEST PRACTICE FOR MARKETERS Target Publish 1. Leverage LinkedIn 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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