Summary The majority of investors are now active on social media on a daily basis, and wealth managers should embrace this both on the company-level and on the relationship manager-level. Social media adds value in a number of ways. Companies can benefit from social media in promoting their brand, enhancing thought leadership and investment opportunities, reaching out to a younger target audience, as well as servicing customers. Relationship managers can leverage social media in researching and reaching out to prospective clients, nurturing client relationships, and building their personal brands.
Key Findings - While the majority of consumers are now active on social media on a daily basis, the frequency of social media use decreases with age: 94.2% of investors aged 18–24 use social media at least daily, while just 44.1% of those aged 65+ log in daily.
- Company policy and the feeling that social media is too public are the most often cited reasons for wealth managers not being active on social media channels.
- The most popular activity companies undertake on social media is brand promotion, at 72.6% of respondents, followed by the promotion of new investment opportunities, thought leadership, and services.
- Client servicing is not yet among the activities wealth management companies regularly practice via social media. Only 31.7% of firms respond to client queries via social media – a very low percentage given the amount of time customers spend on social media.
- For relationship managers contacting prospects, the leading use of social media is the opportunity to build their personal brand followed by the opportunities to research and contact prospects.
Synopsis This report analyzes how wealth management companies and relationship managers can benefit from using social media. The report is based on our proprietary Global Wealth Managers Survey.
Specifically the report:
- Analyzes how social media can be useful across the client value chain and what the barriers are to social media use in companies.
- Provides context on how common social media usage is across different demographic segments.
- Examines how wealth management companies can use social media to promote their brand and promote thought leadership and investment products, and analyzes the most popular platforms for each purpose.
- Examines how relationship managers can leverage social media in researching and contacting clients and prospects as well as use it in strengthening client relationships and building their personal brand.
- Analyzes the use of social media in client servicing and analyses the most popular platforms for each purpose.
- Analyzes how wealth management companies tackle social media compliance issues.
- Provides an international overview of the recent regulatory developments on social media
Reasons To Buy - Review your current social media strategy and benchmark your social media activities against competitors.
- Understand how to tailor content and social media strategy to fit each platform and benefit from competitor examples across different platforms and use cases.
- Proactively shape social media activities in light of emerging platforms and social media trends.
- Broaden the use of social media from mere marketing or brand-building activities.
Our reports have been used by over 10K customers, including:
The global social media analytics market size is projected to grow at a CAGR of 25.4% during the forecast period The social media analytics market size is projected to grow from USD 3.0 billion in 2019 to USD 9.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 25.4% during the forecast period. The social media...
116 pages •
By Global Industry Analysts
• Feb 2020
Mobile Social Networking market worldwide is projected to grow by 1.9 Billion Users, driven by a compounded growth of 7.3%. Mobile Social Networking, one of the segments analyzed and sized in this study, displays the potential to grow at over 7.3%. The shifting dynamics supporting this growth makes it critical for businesses in this space...
The global wealth management platform market accounted for US$ 2.20 Bn in 2018 and is expected to grow at a CAGR of 14.2% over the forecast period 2019-2027, to account for US$ 7.19 Bn by 2027. The global wealth management industry has faced significant changes in the recent years; however, it has been serving the customers with profitability...
Abstract Social Media Management Services Procurement in the US This report is intended to assist buyers of social media management services. Social media refers to the collection of websites and online tools that enable internet users to share information (e.g. Facebook, Twitter and Instagram). Social media...
Social media sector scorecard - Thematic Research Summary The growth of democratic engagement on social media, particularly in a US presidential election year, has stoked fears that platforms could be abused to influence the result, as in 2016.These fears will be exacerbated by the inability of leading...
Medical sensors market anticipated growing at CAGR of 6.8% from 2020 to 2025 The medical sensors market is estimated to be worth USD 1.2 billion in 2020 and is expected to reach USD 1.7 billion by 2025, at a CAGR of 6.8% from 2020 to 2025. The global medical sensors market exhibits a lucrative growth potential for the next...
The mHealth solutions market is expected to grow at a CAGR of 33.3% during the forecast period. The global mHealth solutions market is projected to reach USD 213.6 billion by 2025 from USD 50.82 billion in 2020, at a high CAGR of 33.3% during the forecast period of 2020 to 2025. The growing adoption of smartphones, increasing...
Market Overview The Wireless Healthcare Market was valued at USD 73.97 billion in 2019 and is expected to reach USD 316.0 billion by 2025, at a CAGR of 27.38% over the forecast period 2020 - 2025. According to the Center for Disease Control, hospital-acquired infections cause approximately 100,000 deaths in the U.S. each...
Social Media in Travel & Tourism - Thematic Research Summary The three main types of organization in the tourism industry that use social media regularly are government, commercial and non-profit organizations.A common denominator is that all three of these types of organization utilize social media...
Dating Services Market by Type (Online and Traditional), Service (Matchmaking, Social Dating, Adult Dating, Niche Dating), and Demographics (Adult and Generation X): Global Opportunity Analysis and Industry Forecast, 2019–2026 Dating Services including both online and traditional are social platforms whereby an individual...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.