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Missing Billions II reveals financial service brand customers’ attitudes to a range of marketing and communications strategies employed by the sector. This report builds on our original Missing Billions report, published in 2017, by comparing the results of separate surveys conducted among a UK-representative panel of 1,000 consumers.
The key take-out is that a quarter of respondents don’t feel valued by their existing providers. And if they did a whopping £18bn extra would be on offer from customers to their providers.
REGISTER TO DOWNLOADConsumers need brands to recognise they require help navigating a financial services landscape which is becoming more fragmented, complex and confusing.
With this in mind, our Proposition Builder takes Value Proposition thinking to the next level and in a structured way. Our workshops create propositions that resonate with your audiences, differentiate you from your competitors and are substantiated by proof points.
Following an initial, informal chat we’re offering to facilitate a FREE 2-hour Proposition Builder workshop with you and your team.
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Millennials are not hard to reach – or shouldn’t be in a world full of media channels. But they are hard to impress. They’re also maturing in an economic environment of uncertainty and mistrust. These factors make it more difficult for financial services providers to prove their worth to this age group. It’s harder still to stand out as the ones to do business with.
Our unique research identified five values characterised by Millennials and provided an in-depth look at the drivers of their behaviour
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The original Missing Billions report revealed the depth of concern financial services customers have about the ways they are communicated with.
Channel, frequency and messaging considerations all appear to be overlooked, according to the panel of 1,200 UK consumers who we surveyed in spring 2017.
Key findings included more than a third of people who say they do not feel valued by their bank or insurer, based on the communications they receive. As a counterpoint, our respondents would be prepared to spend more money – equating to extra billions annually – on additional products within the sector if offered more relevant interactions.
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