Webinar: 2024 Financial Services Marketing Trends
- Advertising and Marketing
- Americas
- Financial Services
Click the REGISTER button above to receive a copy of the recording. This event took place on November 7th, 2023.
Preview the trends:
Customer-Core
The industry is pivoting sharply towards a customer-first ethos. With the CFPB’s War on Fees and new entrants leading the way, the industry is phasing out punitive fees, shifting towards value-driven monthly subscription models that are opt-in. Loyalty and rewards programs have transitioned from desirable to foundational pillars of engagement, while equity and sustainability initiatives reflect a targeted strategy and broader demand for responsible growth. This year will see brands reevaluate their customer centricity and compete to put their consumers first.
Streamline & Redefine
With the backdrop of a high-rate environment and extensive options, consumers are continuing to exhibit unprecedented velocity in switching away from financial institutions that fail to measure up. Open banking and instant payments trends underscore this sentiment, where both the CFPB’s proposals and industry innovation are driving interoperability, leading to a more seamless financial experience. This overall reduction of customer friction is inspiring brands to evolve their ecosystems, with intentional touchpoints engineered to foster acquisition and deeper engagement. This move towards streamlining and redefining is all about becoming more future-ready and relevant in the everyday lives of consumers.
Rethinking Milestones
The fundamentals of a modern family structure, perspectives on finances, and leisure time are transforming, led in part by the unique attitudes and behaviors of Gen Z and Millennials. Younger generations are cost-conscious yet value luxury, and have driven shifts in key life stages, like delaying or forgoing child-rearing. All of this demands reimagining and repositioning traditional financial products and services. The money management habits of younger consumers – coupled with their desire to teach financial stewardship to future cohorts – challenge financial institutions to be more innovative with these evolving life narratives and financial priorities.
These trends are the result of in-depth research and conversation among Comperemedia’s analysts to gain a comprehensive perspective on the momentum and forecast of the industry in the coming year.
Each is also supported by Mintel’s library of consumer research, global insights from Mintel Trends, and the expansive marketing activity monitored by Comperemedia.