linkedin marketing solutions financeconnect 15 - affluent millennials research
TRANSCRIPT
C U R R E N T F I N A N C I A L
S E R V I C E S L A N D S C A P E
Through the lens of Affluent Millennials
*Significantly greater than Genx and Aff. Genx
Likelihood to Try Services from a
Non-FS Brand
Affluent Millennials Are Open to
FS Offerings from Traditionally
Non-FS Brands
37%
45%
24% 24%
MIL
LE
NN
IALS
GE
NX
AF
FLU
EN
T
MIL
LE
NN
IALS
AF
FLU
EN
T G
EN
X
*
*
16.30%
32.60%
23.40%
10.50%
0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00%
All GenX
Affluent GenX
Affluent Millennials
All Millennials
Millennials are becoming financially savvier Though are still lacking the confidence in investment and portfolio management
exhibited by their previous generation
Millennials Seek Involvement & Control
in Financial Decisions
51% 50%
43%
40% 38%
40% 42%
48%
AF
FL
UE
NT
MIL
LE
NN
IAL
S
AF
FL
UE
NT
GE
NX
AF
FL
UE
NT
MIL
LE
NN
IAL
S
AF
FL
UE
NT
GE
NX
MIL
LE
NN
IAL
S
GE
NX
MIL
LE
NN
IAL
S
GE
NX
S O L O I S T V A L I D A T O R
Affluent Millennials believe social
networks will be the hub of all their
financial information in the future 1in 3
34%
23%
12%
AFFLUENT
MILLENNIALS MILLENNIALS GENX
VS
Seek content from financial companies on social networks
M I L L E N N I A L S :
T H E S O C I A L - C E N T R I C G E N E R A T I O N
How relevant is educational content/information to you?
Millennials Find Financial Education Most Relevant
AFFLUENT, 70%
AFFLUENT, 63%
MILLENNIALS, 53% GENX, 46%
Millennials are more interested
in learning about retirement
planning on social networks
than GenX (43%vs. 20%)
2x MORE
% of Affluent Users that use at least 1 social network to obtain this type of info
T H O U G H T L E A D E R S H I P
71%
27%
AFFLUENT
MILLENNIALS
AFFLUENT
GENX
P R O D U C T R E V I E W S
53%
37%
AFFLUENT
MILLENNIALS
AFFLUENT
GENX
P E R S O N A L L O A N S
56%
11%
AFFLUENT
MILLENNIALS
AFFLUENT
GENX
Thought leadership, personal loans, and product reviews top
content for Millennials on social networks
Mobile is at the core of how Millennials are engaging with FS
institutions, and is key to how they manage their finances
58.10%
62.40%
42.50% 42.30%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
Hu
nd
red
s
All
Millennials
All
Genx
Total Affluent
Millennials
Total Affluent
Genx
% using mobile apps to make payments / transfers
74%
Affluent Millennials
think the Great
Australian Dream is
possible 66%
Affluent GenX
vs.
Affluent Millennials are more likely than
general Millennials to be confident in the
country’s economic future (20%
Millennials vs 39% Affluent Millennials)
2x MORE LIKELY
T H E F U T U R E ’ S S O B R I G H T
F R O M M I L L E N N I A L S ’ P O I N T O F V I E W
% AGREE: The sacrifices I make now will pay off in the future
Affluent Millennials Will Sacrifice Now For The Future
*Significantly greater than Genx
M I L L E N N I A L S G E N X
To t a l : 4 3 % *
A f f l u e n t : 5 0 %
To t a l : 3 2 %
A f f l u e n t : 5 2 %
A C T N O W
B U I L D D I A L O G U E
& T R U S T W I T H
E D U C AT I O N A L
C O N T E N T
B E W H E R E Y O U R
A U D I E N C E I S
Seize the Affluent Millennial Opportunity