An April 2008 Cogent Research survey found that US investors are highly engaged in social media, and their investment decisions are influenced accordingly.
The study found that 25% of US online adults are engaged in social media specifically related to personal finance and investing.
Furthermore, almost two-thirds of high-net-worth investors—defined as those with $100,000 or more in investable assets— claimed online peer-generated content about personal investing and finance has an influence on their financial purchasing behaviors and decisions.
"Today's companies can no longer sit on the sidelines when it comes to social media," Christy White, chief of operations at Cogent Research, told Business Wire. "Purchasing decisions are being influenced by what investors are seeing on blogs, message boards and videos, and financial services companies will increasingly feel the impact on their bottom lines. The question firms should be asking is not 'if,' but 'how quickly' they can engage in social media."