At-A-Glance: LinkedIn on “Influencing the Mass Affluent”
As an agency that specializes in financial services marketing, Media Logic is always trying to stay on top of how consumers engage with various media. In our quest to stay informed on the affluent segment, we came across LinkedIn’s “Influencing the Mass Affluent” paper* and found it highly insightful.
Here’s a summary of LinkedIn’s key findings:
- Nearing total adoption of social media (87 percent), the mass affluent use a range of social networks and tools; for professional purposes, they most likely turn to LinkedIn.
- Almost half engage with financial institutions on social media (44 percent), while one-third engage with content shared by financial institutions on social media (34 percent).
- Nearly two in five use social media for discovery or consideration of financial companies, products, policies or accounts (36 percent).
- Among mass affluent who use social for both purposes, nearly two in three (63 percent) take action as a result of what they learn.
- The mass affluent consider improved customer service, timely updates and relevant content the most valuable outcomes of a company’s social media presence.
- While they expect certain types of information from financial companies on social media, there are big gaps between what they want and what they actually receive.
- LinkedIn is the most trusted social source to provide mass affluent with financial information.
So often we are asked by our clients, “What can social do for me?” Our response? Almost always this: “It depends on what you are trying to accomplish.” If you’re a financial services company trying to connect with the affluent audience, take note of the findings above, as they may help you uncover social media opportunities with the coveted consumers you are after.
*As indicated in the paper’s methodology, “This report is based on a study conducted in March 2013 by LinkedIn in partnership with Cogent Research.”
