The Idea Distilled
The financial services sector is undergoing a dramatic shift. Traditional models of influence built on authority are rapidly losing relevance, in a world where information is at the fingertips of everyone with access to the internet and institutional distrust is at an all-time high. With 80% of Australians lacking confidence to understand financial terms, affinity – grounded in empathy and relatability – is emerging as the most potent force shaping financial decision-making.
If nothing else, 4 things to fuel your growth…
- Empathise: Show deep understanding of Australians’ financial struggles, paired with credible, expert advice to foster lasting relationships
- Humanise: Brands must humanise financial institutions to build connection and trust with consumers
- Simplify: Offer clear, jargon-free financial advice with personalised solutions
- Educate: Provide practical, relatable financial education that highlights immediate consumer benefits
Some additional food for thought…
- Over 70% feel pessimistic about their financial future, and when viewed through the lens of 68% of Millennials failing the literacy test in our research it is clear why.
- 52% distrust traditional financial institutions and as a result, more than 40% of Australians turn to friends and family for financial advice, leading to a blind leading the blind cycle.
