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Lifestage Marketing - US - November 2014

SCOPE AND THEMES
What you need to know
Data sources
Consumer survey data
Direct marketing creative
Abbreviations and terms
Abbreviations
Terms
EXECUTIVE SUMMARY
Overview
The market drivers
Figure 1: Consumer confidence index, October 2012-September 2014
Figure 2: Average annual income and average annual expenditures, by age, 2013
Figure 3: Very confident in having enough money for retirement, 2004, 2012, 2014
The consumer
Primary financial goals
Figure 4: Primary financial goals, by Generations, September 2014
Trust in FS representatives is back
Figure 5: Very trustworthy, by generations, September 2014
Lack of engagement in FS marketing
Figure 6: Interacting with FS marketing, by generations, September 2014
Traditional marketing can be relevant
Figure 7: Research Financial Products – CHAID – Tree output, November 2014
Use of devices
Figure 8: Attitudes toward mobile technology, by generations, September 2014
Interest in specific FS products/services
Figure 9: Interest in FS products/services – Any interest, by generations, September 2014
Recommendations
What we think
ISSUES AND INSIGHTS
How can FSI effectively reach consumers from three different generations?
The issues
The implications
Can FSI do more for Gen Xers and Boomers?
The issues
The implications
TREND APPLICATIONS
Trend: Make it Mine
Trend: Returned to the Expert
MARKET DRIVERS
Key points
Economy still having an impact
Figure 10: Consumer Confidence Index, October 2012 – September 2014
Figure 11: Average annual income and average annual expenditures, by age, 2013
No strong participation of Millennials in labor force
Figure 12: U-3 Unemployment Rate, by age, 2012-14
Figure 13: Labor force Participation Rate, 2014-22
Debt continues to challenge all generations
Figure 14: Total debt distribution, 2012-14
Retirement confidence increased
Figure 15: Very confident in having enough money for retirement, 2004, 2012, 2014
MARKETING STRATEGIES
Overview of FS Marketing
Millennials
E*Trade
Figure 16: E*Trade print ad, 2014
Fidelity
Figure 17: Fidelity print ad, 2014
Gen X
Community Bank
Figure 18: Community Bank direct mail, 2014
Allstate
Figure 19: Allstate social media, 2014
Baby Boomers
Ally Bank
Figure 20: Ally Bank online ad, 2014
Wells Fargo
Figure 21: Wells Fargo direct mail, 2014
CONSUMER – FINANCIAL ATTITUDES AND SENTIMENT
Key points
Financial and economic sentiment
Figure 22: Financial sentiment of the future, by age, April 2013-June 2014
Figure 23: Economic sentiment, by age, April 2013-June 2014
Consumers’ financial attitudes
Figure 24: Personal finance attitudes, by age, April 2013-June 2014
CONSUMER – FINANCIAL GOALS
Key points
Overall financial goals
Figure 25: Financial goals within the next year, by generations, September 2014
Primary financial goals
Figure 26: Primary financial goals, by generations, September 2014
Kids impact financial goals
Figure 27: Primary financial goals, by gender and presence of children under 18 living in household, September 2014
TRUST IN THE FSI
Key points
Consumers trust FS representatives
Figure 28: Level of trust, September 2014
Millennials and Boomers are trusting of FS people
Figure 29: Very trustworthy, by generations, September 2014
Attitudes toward FS providers
Figure 30: Attitudes toward financial advisers – Any agree, by generations, September 2014
LEARNING ABOUT INVESTMENTS AND FINANCE
Key points
Financial advisers are a key resource for FS information
Figure 31: preferred sources of information on investments and finance, 2012-14
Dads are interested in learning more about investment and finances
Figure 32: Preferred sources of information on investments and finance, by gender and parent with children in household, September 2014
ATTITUDES TOWARD MOBILE TECHNOLOGY
Key points
Device ownership
Figure 33: Devices owned, by generations, September 2014
Parents are key consumers for devices
Figure 34: Devices owned, by gender and parents with children in household, September 2014
Continued interest in using mobile technology for FSI contact
Figure 35: Attitudes toward mobile technology, by generations, September 2014
ENGAGEMENT WITH FS
Key points
Millennials are more engaged with FS marketing compared to Gen X and Boomers
Figure 36: Interacting with FS marketing, by generations, September 2014
Parents pay more attention to FS advertising
Figure 37: Interacting with FS marketing, by gender and parent with children in household, September 2014
INTEREST IN NEW PRODUCTS AND SERVICES
Key points
FS classes and workshops are in demand
Figure 38: Interest in FS products/services – Any interest, 2012-14
High interest in FS products/services across all generations
Figure 39: Interest in FS products/services – Any interest, by generations, September 2014
Parents are interested in specific financial products and services
Figure 40: Interest in FS products/services – Any interest, by gender and parents with children in household, September 2014
CONSUMER SEGMENTATION
CHAID Analysis
Methodology
Traditional marketing is still useful
Figure 41: Research financial products – CHAID – Tree output, November 2014
Figure 42: Research financial products – CHAID – Table output, November 2014
APPENDIX – OTHER USEFUL CONSUMER TABLES
Economic sentiment
Figure 43: Economic sentiment, by gender, April 2013-June 2014
Figure 44: Economic sentiment, by age, April 2013-June 2014
Figure 45: Economic sentiment, by household income, April 2013-June 2014
Figure 46: Economic sentiment, by gender and age, April 2013-June 2014
Figure 47: Devices owned, September 2014
Figure 48: Devices owned, by gender, September 2014
Figure 49: Devices owned, by parent status by generations, September 2014
Figure 50: Devices owned, by employment status and generations, September 2014
Figure 51: Devices owned, by level of trust – Trustworthy, September 2014
Figure 52: Devices owned, by level of trust – Trustworthy, September 2014
Figure 53: Devices owned, by level of trust – Trustworthy, September 2014
Figure 54: Devices owned, by level of trust – Trustworthy, September 2014
Figure 55: Devices owned, by interest in FS products/services – Any interest, September 2014
Figure 56: Devices owned, by interest in FS products/services – Any interest, September 2014
Financial sentiment
Figure 57: Financial sentiment, by gender, April 2013-June 2014
Figure 58: Financial sentiment, by age, April 2013-June 2014
Figure 59: Financial sentiment, by household income, April 2013-June 2014
Figure 60: Financial sentiment, by gender and age, April 2013-June 2014
Figure 61: Financial sentiment of the future, by gender, April 2013-June 2014
Figure 62: Financial sentiment of the future, by age, April 2013-June 2014
Figure 63: Financial sentiment of the future, by household income, April 2013-June 2014
Figure 64: Financial sentiment of the future, by gender and age, April 2013-June 2014
Financial attitudes
Figure 65: Personal finance attitudes, by gender, April 2013-June 2014
Figure 66: Personal finance attitudes, by age, April 2013-June 2014
Figure 67: Personal finance attitudes, by household income, April 2013-June 2014
Figure 68: Personal finance attitudes, by presence of children in household, April 2013-June 2014
Figure 69: Personal finance attitudes, by gender and age, April 2013-June 2014
Figure 70: Consumer privacy attitude, by gender, April 2013-June 2014
Figure 71: Consumer privacy attitude, by age, April 2013-June 2014
Figure 72: Consumer privacy attitude, by household income, April 2013-June 2014
Figure 73: Consumer privacy attitude, by presence of children in household, April 2013-June 2014
Figure 74: Consumer privacy attitude, by gender and age, April 2013-June 2014
Figure 75: Personal finance attitudes, April 2011-June 2014
Figure 76: Consumer privacy attitude, April 2011-June 2014
Financial goals
Figure 77: Financial goals within the next year, by gender, September 2014
Figure 78: Financial goals within the next year, by generations, September 2014
Figure 79: Financial goals within the next year, by gender and parents with children in household, September 2014
Figure 80: Financial goals within the next year, by parent status by generations, September 2014
Figure 81: Financial goals within the next year, by employment status and generations, September 2014
Figure 82: Financial goals within the next year, by primary financial goal, September 2014
Figure 83: Financial goals within the next year, by primary financial goal, September 2014
Frequency of web activities
Figure 84: Frequency of web activities, September 2014
Figure 85: Frequency of web activities, by gender, September 2014
Figure 86: Frequency of web activities, by generations, September 2014
Figure 87: Frequency of web activities, by gender and parents with children in household, September 2014
Figure 88: Frequency of web activities, by parent status by generations, September 2014
Figure 89: Frequency of web activities, by employment status and generations, September 2014
Frequency of social media activities
Figure 90: Frequency of social media activities, by gender, September 2014
Figure 91: Frequency of social media activities, by generations, September 2014
Figure 92: Frequency of social media activities, by gender and parents with children in household, September 2014
Figure 93: Frequency of social media activities, by parent status by generations, September 2014
Figure 94: Frequency of social media activities, by employment status and generations, September 2014
Educational sources
Figure 95: Learning methods for investments/finance, by gender, September 2014
Figure 96: Learning methods for investments/finance, by generations, September 2014
Figure 97: Learning methods for investments/finance, by gender and parent with children in household, September 2014
Figure 98: Learning methods for investments/finance, by parent status by generations, September 2014
Figure 99: Learning methods for investments/finance, by employment status and generations, September 2014
Trust with FS
Figure 100: Level of trust, September 2014
Figure 101: Level of trust, by gender, September 2014
Figure 102: Level of trust, by household income, September 2014
Figure 103: Level of trust, by race/Hispanic origin, September 2014
Figure 104: Level of trust, by generations, September 2014
Attitudes toward FS
Figure 105: Attitudes toward FS, September 2014
Figure 106: Attitudes toward FS – Any agree, by gender, September 2014
Figure 107: Attitudes toward FS – Any agree, by race/Hispanic origin, September 2014
Figure 108: Attitudes toward FS – Any agree, by generations, September 2014
Figure 109: Attitudes toward FS – Any agree, by gender and parents with children in household, September 2014
Figure 110: Attitudes toward FS – Any agree, by parent status by generations, September 2014
Figure 111: Attitudes toward FS – Any agree, by employment status and generations, September 2014
Interaction with FS
Figure 112: Interacting with FS marketing, September 2014
Figure 113: Interacting with FS marketing, by gender, September 2014
Figure 114: Interacting with FS marketing, by race/Hispanic origin, September 2014
Figure 115: Interacting with FS marketing, by generations, September 2014
Figure 116: Interacting with FS marketing, by gender and parents with children in household, September 2014
Figure 117: Interacting with FS marketing, by parent status by generations, September 2014
Figure 118: Interacting with FS marketing, by employment status and generations, September 2014
Interest in FS products/services
Figure 119: Interest in FS products/services, September 2014
Figure 120: Interest in FS products/services – Any interest, by gender, September 2014
Figure 121: Interest in FS products/services – Any interest, by generations, September 2014
Figure 122: Interest in FS products/services – Any interest, by gender and parents with children in household, September 2014
Figure 123: Interest in FS products/services – Any interest, by parent status by generations, September 2014
Figure 124: Interest in FS products/services – Any interest, by employment status and generations, September 2014
Figure 125: Interest in FS products/services – Any not interest, by generations, September 2014
Figure 126: Interacting with FS marketing, by interest in FS products/services – Any interest, September 2014
Figure 127: Interacting with FS marketing, by interest in FS products/services – Any interest, September 2014

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