Europeans with significant investable assets expect to engage with finance brands through social media – both to improve their customer experience and to guide future decisions on products and investments. The Mass Affluent, those with investable assets of between £65,000 and £650,000, are amongst the most active and engaged social media users – and see social platforms as an essential element in their relationships with financial institutions. In a groundbreaking study by LinkedIn and Cogent covering France, The Netherlands and the UK, more than 84% of the mass affluent audience in each country were active on social platforms; at least 40% engaged with financial companies, and at least 30% read content shared by those companies. In each country, mass affluent audiences opted for LinkedIn as their most trusted social media source for financial information, and the platform they are most likely to turn to for the content that matters to them. Information on new products and services, market commentary, service updates and general company information figured prominently amongst the most sought-after content from banks, credit card companies, insurance brands and brokers. When asked what they hoped to gain from engaging with such companies through social media, Mass Affluents pointed to improved customer service, greater transparency and timely, relevant content. Across all three countries, and all types of financial sectors, the information discovered and considered through social media is a key driver of immediate action amongst the mass affluent audience. Of those using social media for both discovery and consideration, 63% were driven to take action such as purchasing a product or opening an account. And the comments that Mass Affluents share have a vital role to play in amplifying awareness and engagement amongst their peers. Almost a quarter of those in the UK and over a third of those in France and The Netherlands read others comments on the content shared by financial companies.

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Use social media
to stay up to date
on financial trends
or companies.
21% 63% 32%
DISCOVERY
Use social media
to seek advice or
info to make a
financial decision.
CONSIDERATION
84%use social media
Out of Mass Affluent Social
Media users:
40%
engage with financial
companies
engage with content from
financial companies
32%
Nearly 2 in 3 are driven to action after using social
for discovery and consideration.1
Social media is an important purchase
driver for the Mass Affluent.
The Mass Affluent are highly
engaged on social media
BOTH
DRIVEN TO ACTION
(Open/Close account or purchase product)
INFLUENCING THE
MASS AFFLUENT
Mass Affluents in the UK, who control between £65,000
- £650,000 in investable assets, are increasingly
engaging with financial institutions on social media –
representing a significant opportunity for finance
marketers to build relationships.
Marketers must understand what the
Mass Affluent want most on social media
Top social content expected by sector:Top 3 most valuable outcomes Mass Affluent
gain from finance companies on social:
1. Improved
customer service
3. Timely
updates 1. New product information
2. Performance updates
3. Company information
BROKERAGES BANKS/CREDIT CARD
1. New product information
2. Account changes
3. Company information
New product info is wanted on
social media across all sectors
2. Relevant
content
Companies are top source of financial
information learned on social media
If Mass Affluent learn about a financial company
on social media, this info most likely comes from:
1. Advertisment 2. Company
content or updates
3. My network
If Mass Affluent learn about a financial product, policy,
or account on social media, this info most likely comes from:
1. Advertisment 2. Industry expert 3. Company
content or updates
20-41% COMMUNICATION GAP
between the top three types of information
expected and what’s actually received on
social media.
Source: Unless otherwise indicated, all data is from commissioned Cogent
Research study, UK data Q1 2013
1
36% of Mass Affluent use social for both discovery and/or consideration.
Global data.
£