The idea distilled…
Australians have ambitious financial goals, but feel they’re falling short and are uncertain about achieving a comfortable retirement. They need help building their knowledge to find the right financial products and services for their needs. Our report identifies the four key moments for marketers to to intercept and influence consumer decision making for Superannuation, Investment Products, Financial Planners and Tax Accountants.
If nothing else, three things to fuel your growth…
- Australians are going backwards financially, despite putting in more effort to overcome macroeconomic forces and the rise of cost-of-living expenses. They are overconfident in their financial literacy and knowledge however, presenting a challenge of making them aware of their knowledge gaps.
- There are four key ‘moments that matter’ where consumers are most receptive, and present the greatest opportunity for marketers to intercept with targeted engagement strategies.
- These moments include: the realisation of a need which starts the selection journey, the search phase where information is sought out, evaluation of criteria to select the best product or service to meet their financial goals, and the final decision plus continued engagement through research, media content and advertising
Some additional food for thought…
- 7 in 10 aren’t happy with their current finances, and 6 in 10 worry about their financial future.
- 1 in 2 think they’re worse off compared to last year, yet 44% are putting in more effort to their finances than last year, and 50% are putting in the same amount.
- The top personal finance goals are centred around maintaining a comfortable lifestyle, rather than managing cost-of-living expenses or paying off their debt/ mortgage
- #1 Financial Goal for Australians – To live comfortably now and in retirement (73%)
- #2 Financial Goal for Australians – Have enough money to travel (68%)
