It’s selling time: Do you know where your prospects are?

According to recent data, there are a whopping 1 billion people on Facebook, 500 million on Twitter and 200 million on LinkedIn. That's a whole lot of people! But what you want to know is where to find the specific prospects you're seeking.

To answer this question, LinkedIn recently collaborated with Cogent Research to hone in on one specific demographic: high-net-worth investors. Their 2012 study surveyed over 600 mass affluent, affluent and ultra-affluent investors to discover their social-media habits, perceptions, and needs when it comes to financial research, networking and information consumption.

Here are some of their groundbreaking discoveries:

• More than 90 percent of high-net-worth investors participate in social media in some form.
• More than 5 million investors consult social media when making financial decisions.
• Only 4 percent of investors currently interact with their advisors on social media, but 52 percent said they would be open to connecting with them.
• Of the 5 million, 73 percent use LinkedIn — more than Facebook, Google+ and Twitter combined.
• Two-thirds of high-net-worth investors visit LinkedIn and Facebook on a monthly basis.
• The ultra-affluent ($5 million-plus in investable assets) are passionate about investment research, with LinkedIn proving to be an invaluable resource.
• High-net-worth investors value financial content on LinkedIn and Facebook above other platforms.
• Forty-six percent of investors using social media do not have a financial advisor.
• Twenty-eight percent of investors would perceive a financial company as "innovative," "a leader in the industry" or "on the cutting edge" if it offered social-media tools.

Evidence continues to mount that social media is the best way to reach your prospects. They're there, just waiting for you to make your presence known. So, what are you waiting for?