engaging with australia's high net worth on social media
DESCRIPTION
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.TRANSCRIPT
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
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 2013Base: HNW social media users 3
U S E S O C I A L M E D I A
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 2013Base: HNW social media users
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 2013Base: HNW social media users
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 2013Base: HNW social media users
73% access LinkedIn via a smartphone
67% access LinkedIn via a tablet device
Connect with colleaguesRead 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 2013Base: HNW social media users
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
When is comes to financial information, High Net Worth Individuals use social media to consume, explore & inform
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Consume
Financial Content
Explore Content
Inform
Join the Dots Research, AU November 2013Base: HNW social media users
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
21%
37%
34%
36%
48%
44%
52%
59%
Aspects of social media used for financial purposes
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 2013Base: HNW social media users
• 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 2013Base: HNW social media users
LinkedIn is the most trusted source for financial information
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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 2013Base: HNW social media users 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
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.
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S U M M A R Y O F F I N D I N G S
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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