Mass Affluent in Canada, who control between $100,000 - $1M in investable assets, are increasingly engaging with financial institutions on social media – representing a significant opportunity for finance marketers to build relationships.
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Influencing the Mass Affluent Infographic
1. INFLUENCING THE
MASS AFFLUENT
$
Mass Affluent in Canada, who control between
$100,000 - $1M in investable assets, are increasingly
engaging with financial institutions on social media
– representing a significant opportunity for finance
marketers to build relationships.
The Mass Affluent are highly
engaged on social media
Social media is an important purchase
driver for the Mass Affluent.
Nearly 2 in 3 are driven to action after using social
for discovery and consideration.1
83%
use social media
DISCOVERY
Use social media
to stay up to date
on financial trends
or companies.
Out of Mass Affluent Social
Media users:
38%
29%
engage with financial
companies
27%
follow or
like financial
companies
21%
read content
shared
by financial
companies
27%
review multimedia
content shared
by financial
companies
Companies are top source of financial
information learned on social media
BOTH
Use social media
to seek advice or
info to make a
financial decision.
63%
32%
DRIVEN TO ACTION
(Open/Close account or purchase product)
engage with content from
financial companies
30%
CONSIDERATION
Marketers must understand what
the Mass Affluent want most
on social media
Top 3 most valuable outcomes Mass Affluent
gain from finance companies on social:
1. Relevant
content
2. Timely
updates
3. Improved
customer service
If Mass Affluent learn about a financial company
on social media, this info most likely comes from:
New product info is wanted on
social media across all sectors
1. Company
content or updates
2. Industry expert
48%
38%
Top social content expected by sector:
3. Advertisement
28%
If Mass Affluent learn about a financial product,
policy, or account on social media, this info
most likely comes from:
35%
1. New product information
2. Account changes
3. Company information
3. My network
52%
1. New product information
3. Performance updates
2. Industry expert
BANKS/CREDIT CARD
2. Market commentary
1. Advertisement
BROKERAGES
35%
Source: Unless otherwise indicated, all data is from commissioned Cogent Research study, CA data Q1 2013
1
36% of Mass Affluent use social for both discovery and/or consideration. Global data.
27-47% COMMUNICATION GAP
between the top three types of information
expected and what’s actually received on
social media.