Inside Marketing: How to increase engagement amid market volatility
Here are five steps to successfully attract and retain members as expectations evolve.
Amid the instability of the last two years—from rising inflation and market volatility to a looming recession, clogged supply chains and the pandemic—a chasm has formed between consumers and their financial institutions.
According to CUES Supplier member Vericast’s recent Financial Services TrendWatch survey, this gap was formed due to changes in privacy practices, consumer expectations for personalization, social changes and (a lack of) marketing innovation.
Concurrently, data shows that consumers are increasingly seeking financial guidance and advice from non-traditional sources. In fact, nearly half of consumers report that they seek financial advice from friends or family, while less than a third are seeking it from a bank, credit union or financial advisor. Further, 34% of Gen Z consumers obtain financial advice from TikTok and 33% get it from YouTube, while only 24% of this age group seek advice from financial advisors.
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