#inFC14
Jennifer Grazel
Trends in Finance &Social for 2014
Without trust, words become the
hollow sound of a wooden gong.
With trust, words become life
itself.– John Harold Hewitt, Poet
#inFC14 3
Authenticity ● Relevancy ● Dialogue
TRUST
4
John Taft Video
RBC Wealth Management
#inFC14 5
InsightsInformation
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High Net Worth Individuals
March 2014
HK & SG
MethodologyShort online questionnaire with respondents recruited from a panel sample.
All respondents were identified as HNW
individuals.
This was defined as those holding over $8million
HKD or $1.3million SGD in personal investable
assets.
Respondents were recruited from both Hong Kong and Singapore. Survey completed in
English. 204 respondents in
Singapore & Hong Kong
7 7
List of contents
SECTION ONE
SECTION TWO
SECTION THREE
SECTION FOUR
HNWI profile Social media usage
Use of social media for financial information
Conclusions and recommendations
88
9
0%
50%
6%
36%39%
15%
3% 1%
HNWI in Hong Kong/Singapore are significantly younger than other markets
18-24 25-34 35-44 45-54 55-64 65+
BASE SIZE: 204 HNW individuals
52% MALE
48% FEMALE
AGE
10
Vast majority are currently employed with 1/3 of HNWI reporting they are below director level
BASE SIZE: 204 HNW individuals
17%
20%
8%
18%
6%
0%
6%
10%
8%
3%2%
Manager Senior Manager
Director Head of Department
Vice President
President Managing Director
C-Level Executive
Owner Other Retired/not currently employed
11
Unlike other markets, majority are employed by medium to large businesses (# of employees)
1 - 10
11 - 50
51 - 100
101 - 200
201 - 500
501 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 or more
6%
6%
7%
14%
20%
14%
15%
6%
13%
Based on 50% scale
BASE SIZE: 199 HNW individuals currently employed
NUMBER OF EMPLOYEES
12
List of Contents
SECTION ONE
SECTION TWO
SECTION THREE
SECTION FOUR
HNW individuals profile
Social media usage
Use of social media for financial information
Conclusions and recommendations
12
13
Social media adoption among HNWI is well penetrated and usage is maturing across the globe
BASE SIZE: 1095 HNW individuals
Do you use the following social media sites/services? All respondents
59% 47% 47% 24% 24%
81%of HNW individuals
make use of social media
14
Close to 100% of HNWI use Social in Singapore and Hong Kong, with LinkedIn capturing over 40% +
Social Media usage by Country
U.S. UK Australia Canada U.A.E. Singapore Hong Kong
69% 70%75%
85%
97% 98% 99%
39%
50% 49%45%
73%
46%40%
Do you use the following social media sites/services? Breakdown by country
Social media users (any network including LinkedIn) LinkedIn users
BASE SIZE: 1095 HNW individuals
Approx. 9 out of 10 who access LinkedIn, visit weekly
15
% of HNWI on LinkedIn
88%Access LinkedIn
weekly
BASE SIZE: 305 HNW individualsACTION: reached out to a financial service provider, conducted research on a financial product/service, purchased a financial product/investment
40% 46%
16
Frequency of network access from desktop computersand they use multiple devices over the course of a day
97%95%
93%
BASE SIZE: 204 HNW individuals (Hong Kong/Singapore Total)
84% access LinkedIn via a desktop weekly
70% access LinkedIn via a tablet weekly
73% access LinkedIn via a smartphone
weekly
Follow a brand and receive updates
Stay up to date with current news/events
Receive updates and posts from my colleagues
Share posts or articles with my network
Connect with select circles of people on a particular issue or goal
Obtain a review of recommendation
Not only do they access the platform frequently but they’re actively engaged……
17BASE SIZE: 305 HNW individuals; 120 LinkedIn users
Which, if any, of the following activities do you undertake on LinkedIn?Top 6 activities undertaken on LinkedIn shown
01 02 03 04 05 06
41%38% 38%
36% 36%
29%
18
HONG KONG SINGAPORE
59% 71%
56% 65%
55% 56%
53% 48%
54% 53%
49% 27%
…with engagement being driven by greater trust in the platform
BASE SIZE: 190 Facebook; 164 YouTube; 109 Twitter; 89 Google+; 85 LinkedIn; 56 Sina Weibo usersHong Kong/Singapore Total
To what extent do you trust content shared by brands on each of the following social networks?Top2 box scores shown; ‘Very/Quite Trustworthy’
% of HNW individuals who trust branded content provided by social networks
62%
58%55% 54%
52%
45%
19
List of Contents
SECTION ONE
SECTION TWO
SECTION THREE
SECTION FOUR
HNW individuals profile
Social media usage
Use of social media for financial information
Conclusions and recommendations
19
20
Close to 90% of HNWI make use of social media for financial purposes. LinkedIn and Facebook lead in influencing the purchase path
BASE SIZE: 190 Facebook; 164 YouTube; 100 Twitter; 89 Google+; 85 LinkedIn; 56 Sina Weibo usersHong Kong/Singapore Total
% of respondents who use social media networks for financial purposes
HONG KONG SINGAPORE
90% 83%
90% 83%
84% 78%
82% 91%
73% 75%
% of HNW individuals who use each social media network
88% 88%84% 83%
74%
In particular, LinkedIn is largely leveraged for mid and bottom funnel activities
BASE SIZE: 190 Facebook; 164 YouTube; 100 Twitter; 89 Google+; 85 LinkedIn; 56 Sina Weibo usersHong Kong/Singapore Total
ACTIVITIES TOTAL
To keep up-to-date on current financial trends, products, policies, or institutions 81% 39% 45% 49% 45%
To gather preliminary information about financial products, policies, or institutions 77% 36% 48% 34% 29%
To seek advice or gather information to help me make a financial decision 78% 47% 43% 30% 39%
To evaluate or re-think a financial decision I have already made 76% 36% 40% 30% 34%
To recommend a financial product/policy/service to others 74% 44% 42% 26% 41%
Key activities /purposes among financial purchase path
39%
36%
47%
36%
44%
22
HNWIs are tapping into various forms of content on LI to inform themselves throughout Financial Decision Journey
BASE SIZE: 183 HNW individuals who use social media for financial information
55%
44%
44%
37%
49%
45%
37%
47%
Follow companies
Use as a source of news content
Subscribe to financial related feeds/blogs
Follow a recognized industry expert
Read Reviews/recommenndations
Search for key topics/information
Watch videos
Participate in online polls/surveys
DISCOVERY
CONSIDERATION
ENGAGE
90% of HNWI claimed to have actioned a response based on information they had received through social media…
24BASE SIZE: 183 HNW individuals who use social media for financial informationHong Kong/Singapore Total
35%
34%
32%
32%
31%
25%
24%
19%
Recommended a product/service
Learned of a financial product/policy or account type I was not previously aware of
Learned about a financial company/institution I was not previously aware of
Discussed a financial product/policy or account type with a family member, friend, or colleague
Shared information about financial trends, products or financial institutions/ companies
Opened a new financial account
Purchased an investment product
Purchased an insurance product
ENGAGE/RESEARCH
PURCHASE
Which of the following actions, if any, have ever occurred as a result of you hearing or reading something on social media? Top 5 actions resulting from social media usage shown
25
Executive Summary: APAC HNWI99.5% Of HNW individuals use social media DEVICES USED
TOP 5 ACTIVITIES
Keep up with current friends/family 83%
Stay up-to-date with current news/events 79%
Share others posts or articles with my network 79%
Follow a company/brand and receive updates 77%
Read updates or posts from colleagues 76%
NETWORKS USED FOR FINANCIAL PURPOSES
88% 88% 84% 83% 74%
95%Tablet
&93%
Smartphone
OVERALL BRAND TRUST (OUT OF 10)
7.08 6.57.08
LEVERAGE SOCIAL TO INFORM FINANCES
90%
26
Client Case Studies
27
American Express OPEN Forum drives quality membershipand engagement with Spotlight Ads and a LinkedIn API
• Increase the value of the information exchange on Amex’s SMB Community
• Widen % penetration of SMBs in US by scaling membership growth
CHALLENGE
SOLUTION
IMPACT
• OPEN Forum used LinkedIn’s API to enable signups via a LI login screen, providing a fast, seamless way to join the community and invite others in their network to join.
• LI created a social ad to drive membership
• 5X growth in OPEN Forum membership three months after API launch
• 10X higher performance for OPEN Spotlight Ad vs. display ads across the Web
Blackrock’s SUs outperformed 75% of the FS industry campaigns on LinkedIn in 2013
Provide an elevated thought leadership platform for their CEO, Larry Fink via Influencer program
Blackrock differentiates through Content & Thought Leadership
28LinkedIn Confidential ©2013 All Rights Reserved
18K+ Members engaged with BlackRock content
5.4 million 1st degree connections saw content virally
Targeted Sponsored Updates Influencer program
Top of mind awareness among HNW investors and FAs
Build advocacy and engagement through custom content
Drive site visitations
CHALLENGE
SOLUTION
IMPACT
29
Drove over 40,000 interactions Boosted organic updates impressions
and social interactions Created long term value attracting over
3750 new followers (10% of interactions)
HSBC uses Sponsored Content to target Heartland Audience
Geo-targeting thru Sponsored Updates to promote relevant tools and compelling content (regionally focused)
Form partnerships with members of key business audience
Drive awareness of HSBC and establish thought leadership
CHALLENGE
SOLUTION
IMPACT
Content Best Practices
Top 5 Best Practices1. Context is King (Professional Context)
• Professionals are busy: Be concise, deliver clear value• Be natural to the platform: Why are people here? What are they trying to accomplish?
2. Always be helpful… not always be closing• Give 4x, Ask 1x• Would I care? Would I share?
3. Think Mobile & User Intent• Reach all 3 screens with 1 message• Think mobile first (on and off LinkedIn)
4. Focus on the epicenter: The Newsfeed• Harness the social graph • Always-on relationship building vs. episodic campaigns
5. Plan Distribution 1st, content 2nd
1. Know who you want to reach and how you will reach them before creating content
2. Owned, earned and paid need to work together to ensure your audience sees it
Content on LinkedIn- Best Practices
1. Add value. Make your content mix a diverse blend of informative, insightful,
inspirational, and entertaining (entertaining but appropriate for a business site)
2. Follow the 80/20 rule of helpful vs. self-promotional content
3. Customize your headlines for the audience you are targeting
4. Include an image or rich media. YouTube, Vimeo, and Slideshare all play in-feed
5. Post with different headlines for A/B performance testing
6. Think like a journalist: include a “hook” within the first 35 characters of your post to
engage the mobile users
7. Don’t hyper-target. Narrowing your focus will eliminate important decision-makers and
limit your reach
8. Don’t just push out more content. Push out more relevant content. Know your audience
personas!
9. Don’t be afraid to get personal. Adding humor or emotion to your message makes it
human and makes your brand more approachableLinkedIn Confidential ©2013 All Rights Reserved
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