Now, it’s got to be all about recovery. But what should you do?
By Mark Hollander on Thursday, 10 September 2020
The pandemic has, of course, already had a massive impact on businesses, brands and individuals. Some have gone under. Others, however, have adapted to emerging behaviours and are already growing share at the expense of their competitors.
When it comes to financial services, our research shows that the relationship that consumers and business owners have with their money is undergoing a profound transformation. And not just in relation to the debt many have had to sign up to. 62% of consumers say they don’t intend to borrow to reach their financial goals. So what are they intending? And what of technology? What are the new roles it will play in the customer experience?
Ever on the front foot, our planning team has been analysing the emerging behaviours, of consumers, businesses and internal audiences (who, in some cases, will never be asked to work from the office again). Then exploring the implications for our financial services clients. You can download their analysis and key areas of focus here. Entitled ‘It’s only fair’, our white paper spells out the opportunities and the potential transformation for the UK’s financial services brands. You’re welcome to share it with your team.
Within the analysis, you’ll find:
- How an increased desire for certainty, and increased appreciation of ‘what really matters’ is driving change in FS
- Who will become the new class of new VIPs
- The new propositions a more inclusive financial culture is driving
- How an increased social focus on fairness could impact fees and pricing!
And importantly, in its conclusion, it details the five areas the UK’s financial brands will need to adopt to achieve accelerated recovery.
To discuss its specific implications for your brand, please don’t hesitate to contact your existing contact at Teamspirit or email us at email@example.com.