Marketing Research Archive
Bad experiences, life events and changing needs push Millennials to switch banks and open new checking accounts.
Millennials switch banks twice as much as other consumers. Financial institutions must do more to retain this crucial demographic segment.
Convenience, price, functionality and reputation are the top reasons why consumers pick a specific checking account when shopping online.
Young financial shoppers don’t think branches are as important as other consumers, and they are more easily influenced by an institution’s brand.
You need to market checking products to consumers that currently have an account differently than those who are new to banking.
70% of consumers now shop for checking accounts online, but financial institutions' product and marketing strategies don't reflect this new reality.
Consumers have countless checking accounts to choose from and they all look alike, so they pick the one that looks the most convenient to them.
The mobile phone is fast becoming the transactional tool of choice for consumers, starting with how they pay their bills.
This study shows that meeting people's emotional, rational and societal needs will increase their likelihood to choose, recommend and defend a brand.
Financial institutions can't leverage today's new, divergent data streams when their analytics capabilities are still stuck in the 90s.
More than half of consumers shopping for new checking accounts say that they need their new financial institution to provide mobile banking.
Make your next presentation more powerful with this downloadable file with over 200 charts and graphs created by The Financial Brand.