In the decade since the launch of Facebook, social media platforms – including Twitter and LinkedIn – have established themselves as a trusted place for the Mass Affluent to locate and engage with financial companies and the information that they provide. Insurance agents and financial advisors need to institute a social media presence so they can not only demonstrate that they are tech savvy and cutting edge, but also to become an indispensable resource for maintaining their relationships with existing clients while finding new prospects in an actionable way.
Your audience’s preferred channels
Social media use is virtually universal among Mass Affluents, nearly 90 percent of whom have used at least one social network in the past year in some form or another. When it comes to using social networking for professional purposes, half maintain professional connections on social channels and that same percentage use social media to interact with financial companies.
For 63 percent of Mass Affluents, social media plays a key role in their financial decision-making process. More than one in five use it to stay in tune with current financial trends, just under one third garner financial advice from social platforms and nearly half – 40 percent – use it to discover financial companies and products.
Furthermore, two out of three Mass Affluents who use social media for discovery and consideration in financial matters are then driven to act – whether that’s to purchase products or open or close accounts – based on the information they gather from these channels.
Making social media work for you
Using social media properly is all about providing exceptional customer service, using engaging content and posting in a timely manner – which are the top three habits Mass Affluents look for when they interact with companies on social media.
That means it’s essential to listen to what your target demographic is saying about their financial product and services needs, and then engage them in a meaningful way. You should also make a point to highlight new products and services, which is the No. 1 type of information sought by Mass Affluents from financial companies on social media. Finally, establish yourself as an industry expert by posting relevant content on a regular basis.
Latest posts by Highland Capital Brokerage (see all)
- June 2018 LTC Newsletter - June 21, 2018
- Robert W. Finnegan, J.D., CLU®, Published in Trusts & Estates Magazine - June 6, 2018
- May 2018 LTC Newsletter - May 24, 2018