SOCIAL MEDIA INSIGHTS: How The Wealthiest Consumers Use Social Media Social Media Insights is a daily newsletter from Business Insider that collects and delivers the top social media news first thing every morning. You can sign up to receive Social Media Insights here or at the bottom of this post.
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 Affluent Consumers Use Social Media Heavily (Clickz)
A new study by LinkedIn shows that 90% of affluent consumers (defined as individuals with investable assets between $100,000 and $1 million) use social media. Of those affluent users, 36% use social media to learn about trends, products, and services, and 44% engage with financial institutions specifically. Read >
Using Social Sharing To Boost Conversion Rates (MarketingCharts)
When it comes to increasing conversion rates, social sharing functionality is favorited by digital marketers, beating out other features, such as navigation, page copy, promotions, photos, and other elements. An Adobe study found that 39% of respondents from around the world said social sharing icons were "very effective" and 83% indicated the practice to be at least "somewhat effective." Read > 
Consumers (Not Companies) Are Driving Brand Engagement On Pinterest (SproutInsights)
Analysis of more than 10 million pins on the social network Pinterest revealed that 70% of brand engagement on the site is generated by consumers as opposed to businesses. Knowing this, brands should choose their images more wisely, and use the popular visual social network as an opportunity to tell stories — which is why fashion brands are some of the most engaging on Pinterest. Read > Vanity Fair Tells The Story Of Instagram's Rise (Vanity Fair)
Kevin Systrom, Instagram CEO, is the focus of this lengthy feature exploring the forks in the road that took the photo sharing app to its 1$ billion pricetag and its current status as one of the world's preeminent social networks. Read > YouTube Reportedly Nears Launch Of Paid Channel Subscriptions (CNET)
The announcement could come as early as this week. If true, it would put social video site YouTube close to becoming a hub of digital paid video content distribution, much as Netflix and Hulu already are. It would also put it more directly in competition with pay TV companies. Read > Social Media Ad Revenues Expected To Grow To $11 Billion By 2017 (Salesforce)
Social media ad revenue reached $4.6 billion in 2012, but that number is expected to reach $11 billion in 2016. Facebook alone, which reported $375 million in mobile ad revenue in the first quarter of 2013, is on course to turn that into $1 billion for the year 2013. The infographic below reveals the details. Read > 
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