Getting your message out is all about exposure, but affluent investors report they are not exposed to financial media as often as you might guess.
No matter what question you have, the information is out there. You just have to look for it.
But how often is the information looking for you? And how often do you get exposed to the information through no effort on your part?
Those are the questions asked in a survey conducted by Spectrem’s Millionaire Corner, which asked more than 1,000 affluent investors to detail how often they are exposed to different forms of financial media.
As pointed out by Garrett Baldwin in his report on the findings on The Alpha Pages, “More than 250 million visitors hit financial sites each month for unlimited market opinion and research: Some good and some very bad. Broadcast networks fill 20 hours a day with non-stop coverage of earnings reports, Fed Talk, government data and rampant speculation. Social media has evolved at a breakneck pace.”
But it is possible for affluent investors to avoid contact with financial media if they want. Exposure is a two-way street.
Among financial media types, affluent investors reported the greatest exposure through investment newsletters. Thirty-four percent of investors reported frequent or very frequent exposure to investment newsletters, while only 28 percent said they never or rarely were exposed to that form of financial media.
The good news for mainstream financial journalists is that 23 percent of affluent investors report frequent or very frequent exposure to their offerings, with 51 percent saying they never or rarely experience a mainstream financial story.
Exposure to (or contact with) one’s specific broker, and exposure to on-air network financial experts were next up on the list, with 21 percent citing frequent or very frequent exposure to either types of financial media. The only other form to reach at least 10 percent of affluent investors on a frequent basis was Wall Street research analysts, with 17 percent of affluent investors noting that pace of exposure.
In general, the greater the net worth, the greater the exposure in almost all forms of financial media (which raises the question whether those with greater net worth are sought more aggressively or whether they seek the information more frequently). Similarly, Business Owners are more often exposed to financial media than Corporate Executives.
Financial bloggers are not reaching the audience they might hope. Only 7 percent of affluent investors report frequent or very frequent exposure to financial bloggers. But 21 percent of affluent investors under the age of 40 report frequent exposure to blogging financial experts.
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.