New study on financial communications imperatives

05 May,2017

By A Correspondent

 

If financial services brands are to match the pace of changing expectations and demands of their consumers that comprises an increasing base of Millennials, they need to overhaul their communication strategy, suggests a new report titled ‘Fincomm Imperatives 2017’.

 

While we aren’t sure if interacting with just 50 CXOs is enough to gain sufficient insight, as many as 87 per cent of the 50 respondents admitted that millennials are driving their communication strategies, while 90 per cent said that their communications have shifted to digital mediums. The report also revealed several other insights that point to an urgent need for brands to redesign their communications:

:: 88 per cent respondents felt consumers attach high importance to convenience and response time.
:: 88 per cent said demand for personalised services has increased.
:: About 84 per cent of respondents believe that customers now give importance to instant gratification when it comes to financial services.
:: 75 per cent felt customers have become more discerning.
:: 69 per cent said when it comes to customer expectation the urban-rural divide has narrowed.

 

Fincomm Imperatives 2017 was reportedly launched at a panel discussion with some banking and financial services experts (MxMIndia was not invited to this, so unverified).

 

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