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While social media use is the norm among affluent investors overall, recent findings reveal that ready-to-act (RTA) investors—those who plan to make a new investment in the next three months—are using social media at even higher levels. RTA investors report using at least 2.4 social media sites each month on average compared with an average of only 1.8 social sites for affluent investors who do not plan to make an investment decision in the near-term. More specifically, compared with all affluent investors, RTA investors over-index on visits to Facebook, YouTube, LinkedIn and Twitter. A social media presence is no longer optional but is quickly becoming a mandatory component of a distributor’s or product provider’s successful marketing plan and media buying strategy.
Looking at the four major social media platforms in more detail reveals two distinct use tiers:
- Tier 1, Facebook and YouTube: Used by a majority of affluent investors, with each becoming a nearly ubiquitous presence across the RTA segments.
- Tier 2, LinkedIn and Twitter: Draw dramatically higher use among RTA investors compared with the broader audience of all affluent investors. This highlights the potential value offered by these platforms in targeting an audience that is ready to make an investment decision