Hispanic investors report greater involvement on Twitter and YouTube than investors from other ethnicities or the general population of investors.
Hispanic Americans have developed a love affair with social media, according to data from the mainstream population as well as among affluent Hispanic investors.
Pew Research reports that 80 percent of all Hispanics in America have social media accounts, and that is a far greater reach than the 72 percent of all Americans. When it comes to shopping, Hispanics lead non-Hispanics in the use of Twitter and YouTube for shopping purposes.
But Spectrem’s Ethnic Segmentation Series study on affluent Hispanic investors - Using Social Media and Mobile Technology in Financial Decisions - shows that they tend to lag behind other ethnicities in the use of social media, although they do tend to have greater usage than the non-ethnic portion of the affluent market.
For instance, 62 percent of affluent Hispanic investors use Facebook, while just 57 percent of the non-ethnic population of affluent investors uses Facebook. The numbers and differences are similar with other social media sites – 26 percent to 14 percent on LinkedIn, 38 percent to 28 percent on YouTube, and 16 percent to 6 percent on Instagram. It is on Twitter and Instagram where Hispanics outnumber affluent African-Americans and Asian investors as well.
Fifty-seven percent of affluent Hispanics investors visit Facebook at least once a day, and 18 percent report at least five visits a day (far above the 12 percent of non-ethnic investors). Twenty-three percent of Twitter users among the Hispanic investor community say they are active participants, sharing and communicating with others on the site. That also is above the national average of 13 percent and higher than the active users among African-Americans (21 percent) and Asians (15 percent).
Hispanics are also the most enthusiastic segment of investors who want to be able to text their financial advisor. Twenty-five percent of affluent Hispanic investors say they want to do that, compared to 24 percent of African-Americans, 16 percent of Asians and just 14 percent of the non-ethnic investor community.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.