A CONVERSATION WITH SOCIAL MEDIA LEADERS MODERATOR Steve Samuels Bank of America Merrill Lynch SIFMA Private Client Services Committee
PANELISTS Jana Friedman Twitter
Jennifer Grazel LinkedIn
Jayme Lacour Putnam Investments
Kristin Shevis Hearsay Social
n = 305. Putnam Investments Survey of Financial Advisors’ Use of Social Media (2013). Conducted in partnership with FTI Consulting. 284420 10/13
Putnam Investments Survey of Financial Advisors’ Use of Social Media (2013). Conducted in partnership with FTI Consulting. 284420 10/13
Putnam Investments Survey of Financial Advisors’ Use of Social Media (2013). Conducted in partnership with FTI Consulting. 284420 10/13
Among financial advisors using LinkedIn as their primary social network. Putnam Investments Survey of Financial Advisors’ Use of Social Media (2013). Conducted in partnership with FTI Consulting. 284420 10/13
Among financial advisors using LinkedIn as their primary social network. Putnam Investments Survey of Financial Advisors’ Use of Social Media (2013). Conducted in partnership with FTI Consulting. 284420 10/13
Putnam Investments Survey of Financial Advisors’ Use of Social Media (2013). Conducted in partnership with FTI Consulting. 284420 10/13
Mass Affluent are highly engaged on social media
Among Mass Affluent social media users:
% 87
% 44
engage with financial companies
Use Social Media
% 34
engage with content from financial companies
Cogent Research, U.S. March 2013 Base: Mass Affluent
LinkedIn Influencers
8
Among those who use social for BOTH discovery and consideration, nearly 2/3 are driven to action
Discovery Use social to stay up-todate on financial trends or companies.
21%
Consideration BOTH
Use social to seek advice or gather info to make a financial decision.
63%
32%
DRIVEN TO ACTION Cogent Research, Global March 2013 Base: Global Mass Affluent social media users
Open/close account or purchase product
LinkedIn Influencers
9
Listening for Social Signals Delivers Valuable Business Results
users surveyed reported:
64%
58%
have acquired a new lead from social media
landed a new customer from social media
“Thrivent recorded 22% business increase for reps using social media” (1,500 reps on social as of June 2013)
“I get over 40% of my referrals from social media”
“Social media has created an revolutionary sales opportunity”
Knut Olson SVP Mission Advancement Thrivent Financial
Addison Gardner Agent Allstate
Bucky Wright Chairman & Chief Sales Officer AXA Advisors
Where is the Industry Headed?
COMPLIANCE
41% Decrease in concern with Social media compliance
78%
75%
of salespeople on social outsell peers1
of advisors use at least one Social Network For Business
OPTIONAL SOCIAL PROGRAM
40%
28%
of people (customers) use social media every day3
of Americans turn to social site for news4