LinkedIn is the ideal corporate social network, dominated by career-focused people. In a recent white paper, LinkedIn claimed that it is the most trusted social source for high-income audiences and their financial concerns. However, some financial companies aren’t using LinkedIn tips to their full potential.
LinkedIn defines these high-income audiences as mass affluent – current investors with assets between $100,000 and $1 million (excluding home values). According to Forrester, an estimated 40 million Americans fall under the category.
Nearly 40 percent of mass affluent users turn to social media for information on financial products – and over 65 percent of these users make key decisions based on this information. The mass affluent thus provide a unique and burgeoning opportunity for financial institutions.
The research, conducted in conjunction with Cogent Research, uncovered a significant gap between financial institutions and their customers. LinkedIn found that 25-40 percent of targeted financial information failed to fulfill customer expectations, “representing a signiﬁcant opportunity for marketers to ﬁll that need.”
According to LinkedIn, the mass affluent consumer is “driven to action,” which implies that financial companies should tailor their social media communication to action-oriented messages. This change will help convert mass affluent consumers into buyers.
The top three most in-demand services that the mass affluent want to see from financial institutions on LinkedIn are:
- Improved customer service
- Timely updates
- Relevant content
Key LinkedIn Tips and Takeaways for Marketers
Keep Content Relevant and Timely: Use LinkedIn’s demographic segmentation features to develop content for various audiences, and deliver it on time to maximize sharing potential.
Engage Frequently and Directly: Keep the mass affluent engaged by posting regularly in your LinkedIn Group and via direct replies. For example, banks and brokerage houses could provide market information – while credit card firms could provide account information and updates. This will help build a company’s influence, and the targeted communication will help foster trust and loyalty.
Post Company Updates and News: Research suggests that the mass affluent like to keep abreast of financial products – and that new information is highly desirable on social media. Make use of this by posting frequent status updates to keep your customers aware of your offers and promotions.
Register and download the white paper for more interesting statistics on what the mass affluent expect from a business’s LinkedIn presence – and check out our post on building high-value customer relationships with LinkedIn.
What are some of your LinkedIn targeting lessons? Share your wisdom with us in the comments!
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