Social Media a Major Motivator for Mass Affluent Consumers

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About 90 percent of mass affluent consumers use social media, according to a recent study by LinkedIn.

The study classifies the mass affluent as consumers who have investable assets between $100,000 and $1 million. LinkedIn says that this group is active on social media and could prove a key market for financial institutions.

Of that 90 percent of the mass affluent that use social media, 44 percent engage with financial institutions on social media. LinkedIn reports that another 34 percent actively engage with financial institutions’ content through social networking.

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