How the ultra-affluent use social
media?
Dionne Kasian Lew @dionnelew
The social media real estate you put time into is as important as
the suburb you invest in.
The right place at the right price is what gives
good returns.
For time-poor professionals starting out in social media the sheer number of platforms to
choose from is
overwhelming.
Cred
it: De
sign
Bolt
s
Sheeeeeeeesh!
It’s like selecting the ‘all suburbs’ search when you’re trying to find a place to live.
http://www.gratisography.com/pictures/103H.jpg
While I am loathe to suggest one platform to the exclusion of
others because they amplify
each other, IF you’re a professional -
AND you need to reach high net worth individuals -
research saysthat a great place to
live is LinkedIn.
Cogent Research found of the
90% of high net worth people
who use social media, 73% spend it on LinkedIn
Why?
1. to do research -
2. to form connections -
3. to establish mutually beneficial business partnerships.
“Does that sound pretty much like what you already do day to day?”
IT IS!
While you move up & down your local
& are introduced to people you want to know
by those you know …
…LinkedIn creates a business network that is
effectively borderless
Do these relationships count?
They really do.
The Edelman Trust Barometer shows a decline in trust in institutions & leaders over many years.
At the same time, with peers it is high and
growing.
Conversations we we have with people influence what
we think & do -
- whether over coffee or through clicks.
Cogent showed 1/3rd of affluent investors are using social media for personal
finance &inve sting –
BETTER YET
- 70 % changed relationships or reallocated investments as a result of content they’d found in
social networks.
Advisors are getting onto this and it works.
RESEARCH
The ultra-affluent are passionate about high
quality investment research -
SO ASK YOURSELF THESE 7 QUESTIONS -
1. Is your product or service of interest to affluent
investors?
2. What high quality
information do you already generate that may of interest to them?
3. Do you share it on
LinkedIn?
4. How to you form
relationships with those who read it?
5. Are you extending the connections you make
through the network by bringing them offline?
6. What is your strategy for generating future content?
7. Do you have a LinkedIn
Company Page?
7, 6, 5, 4, 3, 2, 1
RELATIONSHIPS
Like in life online business is about mutually beneficial relationships -
& here again LinkedIn is a great MatcH-MakeR.
Cogent found 46% of investors in social did not have a financial advisor
BUT BUT BUT 52% said they would
connect with one through social.
28% said they would see a financial company as
“innovative” or a “Leader in the industry” for offering social.
In the US – most Fortune 100 companies use social
media & according to LinkedIn (2013) all executives from Fortune 500 companies are
members.
The FTSE Social Media Index shows
86% of FTSE100 are on LinkedIn as part of their communications strategy
½ 0f
Australia’s top
publicly listed
companies are
there.
ONLY
Ooooooooops!
CASE STUDIES
1. Derivates exchange Eurex gained exposure
to 800,000 finance decision makers through a LinkedIn campaign.
2. Zurich built a thought-leader campaign
around its Head of Financial Institutions with a strong flow of high-value sales
leads and a click-through rate 3x times the LinkedIn average.
3. Oppenheimer Funds gained 3.3 million
impressions & +11,000 clicks, raising its brand with Financial Advisors
through the LinkedIn iPad app.
It’s as easy as -
1, 2, 3.
NEXT UP
More socially savvy
Gen X and Gen Y investors getting more affluent – meaning -
(you know).
2 Don’ts, 3 Dos and 1 DoDon’t
for professionals -
1.
“What you see is what you you get”.
Don’t use a blurry or provocative photo. Professional is good .
2.
Don’t endorse someone you can’t vouch for. Common sense,
but you’ll be surprised how many people you’ve never dealt with are happy to endorse you.
3.
Don’t display a false endorsement it could be misleading.
4.
When you meet someone new DO follow up with an invite to connect on LinkedIn.
5.
DO work out who owns your social media account and the rules of engagement.
Your firm should have a social media policy you can refer to.
6.
DO be aware of regulations in your industry but DO NOT be afraid of
them. Regulators around the world acknowledge the power of social media for business and have an
important role in balancing innovation and protection. This space is evolving all the time. In Australia the ASX encourages companies to monitor social media and consumer watchdog ACCC has
developed social media guidelines. Your country and industry will have its own.
Speaker | Author | Consultant
@dionnelew
dionnekasianlew.com thesocialexecutivebook.com
You CAN BOOK ME TO speak to your team +61 458 974 854 OR
Connect with me on LinkedIn –
au.linkedin.com/in/dionnelew Thank you for your time and attention.
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