LinkedIn Financial Services CMO Roundtable - Trends in Finance & Social for 2014
Download as PPTX, PDF0 likes592 views
The document discusses the role of social media among high-net-worth individuals (HNWIs) in Hong Kong and Singapore, highlighting how platforms like LinkedIn and Facebook significantly influence financial decisions. It reports that nearly 90% of HNWIs use social media for financial purposes and emphasizes the importance of trust in content shared by brands. The findings indicate that effective content marketing strategies can foster engagement and enhance the relationship between financial services and their clients.
LinkedIn Financial Services CMO Roundtable - Trends in Finance & Social for 2014
- 2. Connect the world’s professionals to make them more productive and successful Our mission
- 3. For our members The professional profile of record Connect all of the world's professionals Identity Networks Knowledge The definitive professional publishing platform
- 4. The professional profile of record Identity
- 5. Connect the world’s professionals to make them more productive and successful Our mission
- 6. GroupsSlideShare InfluencersPulse The definitive professional publishing platform Knowledge
- 7. LinkedIn is the #1 Professional Publishing Platform in APAC and Worldwide 0 5,000 10,000 15,000 20,000 25,000 LinkedIn BBC CNN WSJ NYTIMES Forbes Bloomberg Economist TotalUniqueVisitors(000s)
- 8. Homepage Pulse Influencers LinkedIn Groups Insights: Brands plugging into the member journey From networking, to news, communities, thought leaders & brands Company Pages Sponsored Updates
- 9. #inFC14 Jennifer Grazel Trends in Finance & Social for 2014 http://www.youtube.com/watch?v=XuSK3YLS9 1k&list=PLOiWp3quz2WVkk6gydZHILOD4eeLH zbRl
- 10. Without trust, words become the hollow sound of a wooden gong. With trust, words become life itself. – John Harold Hewitt, Poet
- 11. #inFC14 Authenticity ● Relevancy ● Dialogue TRUST 11
- 12. 12 John Taft Video RBC Wealth Management
- 14. Relevant Content builds the bridge to meaningful relationships
- 15. High Net Worth Individuals March 2014 HK & SG
- 16. Methodology Short 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 16 16
- 17. 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 1717
- 18. 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 18 52% MALE 48% FEMALE AGE
- 19. Vast majority are currently employed with 1/3 of HNWI reporting they are below director level 19BASE 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
- 20. Unlike other markets, majority are employed by medium to large businesses (# of employees) 20 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
- 21. 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 2121
- 22. 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 22 59% 47% 47% 24% 24% 81% of HNW individuals make use of social media
- 23. Close to 100% of HNWI use Social in Singapore and Hong Kong, with LinkedIn capturing over 40% + Social Media usage by Country 23 69% 70% 75% 85% 97% 98% 99% 39% 50% 49% 45% 73% 46% 40% U.S. UK Australia Canada U.A.E. Singapore Hong Kong 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
- 24. Approx. 9 out of 10 who access LinkedIn, visit weekly 24 % of HNWI on LinkedIn 88% Access LinkedIn weekly BASE SIZE: 305 HNW individuals ACTION: reached out to a financial service provider, conducted research on a financial product/service, purchased a financial product/investment 40% 46%
- 25. Frequency of network access from desktop computers and they use multiple devices over the course of a day 97% 95% 93% BASE SIZE: 204 HNW individuals (Hong Kong/Singapore Total) 25 84% access LinkedIn via a desktop weekly 70% access LinkedIn via a tablet weekly 73% access LinkedIn via a smartphone weekly
- 26. 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 or recommendation Not only do they access the platform frequently but they’re actively engaged…… 26BASE 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%
- 27. 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 27 BASE SIZE: 190 Facebook; 164 YouTube; 109 Twitter; 89 Google+; 85 LinkedIn; 56 Sina Weibo users Hong 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%
- 28. 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 2828
- 29. Close to 90% of HNWI make use of social media for financial purposes. LinkedIn and Facebook lead in influencing the purchase path 29BASE SIZE: 190 Facebook; 164 YouTube; 100 Twitter; 89 Google+; 85 LinkedIn; 56 Sina Weibo users Hong 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%
- 30. 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 users Hong 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%
- 31. HNWIs are tapping into various forms of content on LI to inform themselves throughout Financial Decision Journey 31BASE 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
- 32. LinkedIn and Twitter are seen as equally trustworthy sources of financial information… 32 BASE SIZE: 168 Facebook; 83 Twitter; 75 LinkedIn users who access the network for financial purposes Hong Kong/Singapore Total Overall levels of brand trust regarding financial information Overall mean score shown; score out of 10 HONG KONG SINGAPORE 7.16 6.88 7.02 7.28 6.52 6.44 Overall levels of brand trust for social media providers regarding financial information BRAND TRUSTDISAGREE AGREE 7.08 7.08 6.5
- 33. 90% of HNWI claimed to have actioned a response based on information they had received through social media… 33 BASE SIZE: 183 HNW individuals who use social media for financial information Hong 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
- 34. Executive Summary: APAC HNWI 34 99.5% 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%
- 36. 36 American Express OPEN Forum drives membership and 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
- 37. 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 and humanizes it’s brand through Thought Leadership 37 LinkedIn 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
- 38. 38 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 equips heartland audience with relevant content 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
- 39. 39 How can I get started with Content Marketing on LI 1 2 3 Build Awareness • Content Ads • Inmail • Slide Share Establish presence • Company Page • Followers • Organic updates Amplify • Sponsored Updates
- 40. 40 How can I get started with Content Marketing on LI 1 2 3 http://www.liasset.com/content_module/gall ery/index.html
- 42. Top 5 Best Practices 1. 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
- 43. 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
Editor's Notes
- #5: The professional profile of record: enabling our members to connect, find and be found
- #6: Connecting all of the world’s professionals, all 600 million knowledge workers and increasingly students or pre-professionals
- #10: Thank you for joining us today. Delighted to be here- glad this is in the morning – don’t know what time zone I am on. Look forward to the next 1hr where I plan on sharing highlights from FinanceConnect, unveil HNWI research and walk through some case studies – meant to be a discussion – not a presentation – please ask questions – in term – I have some questions for you.
- #11: We all know that Trust is essential in relationships. In particular in Financial Services which has had significant setbacks with financial crisis. Without underlying trust, words ring hollow. But with a trusted brand, marketing can be truly inspiring.
- #12: 3 years ago I kicked off, an annual thought leadership summit – called FinanceConnect bringing together leading financial service marketers for a day of discussions and best practice sharing. Having sat most of my career on the client side innovating with emerging channel and technology – recognized need to collaborate across industry. This year’s theme was the “Rise of the Customer” – occurred during a blizzard in nyc. Three key takeaways from FC were: Authenticity, relevancy and dialogue are essential components in building a sustainable relationship with customers. No better medium than Social to do this 2. Importance of Listening – importance of taking time and understanding unique needs of audience (Context is Queen) – we will get into this a bit later 3. Harnessing Data – internal & external - informs us and helps us make better decisions
- #14: Brands that are succeeding are evolving their systems and tapping into social to harness big data to a provide a more contextualized experience (Amex discussed with us amex open relaunch with LI powering login and profile identity of Open forum members (augmenting knowledge of their member set) They discussed understanding moments of Truth – harness 16 mths of social data (honed in on 47k from 40 millions convesations ) to understand adjacencies to the purchase path. Moving from Information to Insight for higher relevance How does a marketer create an insight? By turning data into relevance – rich profile data combined in certain ways to paint a specific insight around who might be important to your message. We recently rolled out TrendIn and Content marketing score to help you identify sweetspots
- #15: One of the best ways to build relationships is through the power of content marketing. The idea of education rather than promotion This will help us forge long term relationships with customers, becoming their trusted advisors and building brand advocacy. RELEVANCY IS THE KEY WORD
- #16: In better understanding the mindset and role that social media plays among core target audiences – we launched a global HNWI study across 8 regions. When I first joined LI disbelief that social influenced financial decision journey – sought to prove out this hypothesis.
- #17: We surveyed over 200 respondents in singapore and hong kong
- #19: Q1a: First of all, what is your age? Q1b: And what is your gender? No significant differences between Hong Kong/Singapore markets. Age is a key driver of social media usage
- #20: Q4: Which of the following best describes the seniority level of your current position? HNW individuals in Singapore were significantly more likely to describe themselves as a manager or equivalent in comparison to those in Hong Kong (27% vs. 14%). No other significant differences between markets. Minority claim to be small business owners