Just when you think there are too many white papers, too many landing pages, too many video sources and too many content providers, here is research to contradict that notion: According to 2017 Segmint Consumer Bank Marketing Study, 80% of those surveyed believe their financial institution should be providing MORE information.
People want to make the best financial decisions, but instead of sharing information about how to make good decisions, financial institutions are spending too much time talking about products. Which leads to another surprise result from the study: 75% of Americans don’t know what their bank does.
The study reported consumers who say they understand the products their banking provider offers.
- Community Bank—27%
- Credit Union—22%
- Regional Bank—23%
Only 1 in 4 believe their banking provider delivers information to help them reach their financial goals.
The answer is simply benefit selling: What benefit are you bringing to the table that will help your customers or members? More than half of the people surveyed said they would prefer their bank provider to “proactively” share information. Only 10% said they receive too much information from their financial institutions.