Table of Contents
Scope and Themes
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- What you need to know
- Data sources
- Sales data
- Consumer survey data
- Direct marketing creative
- Abbreviations and terms
- Abbreviations
Executive Summary
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- The market
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- Figure 1: Ownership of financial products, June 2013
- Consumers not likely to purchase another product from current provider
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- Figure 2: Interest in ads and products from own primary financial provider, by type of provider, June 2013
- Market drivers
- Mobile channels increasing in importance as smartphone/tablet ownership increases
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- Figure 3: Incidence of smartphone ownership, November 2011 and June 2013
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- Figure 4: Incidence of tablet computer ownership, by age, February 2012 and June 2013
- The consumer
- Television is still the preferred channel
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- Figure 5: Financial Services marketing channels consumers are most likely to notice, June 2013
- How consumers prefer to communicate with financial companies
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- Figure 6: Influence of direct mail/email on communication with financial company, by gender, June 2013
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- Figure 7: Interest in channels for communications from financial provider, by type of provider, June 2013
- What we think
Issues and Insights
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- Getting people into the branch
- Issues
- Insights
- Reaching young people
- Issues
- Insights
- Taking advantage of all marketing channels
- Issues
- Insights
- How does the growth of minority groups influence the use of marketing channels?
- Issues
- Insights
Trend Applications
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- Inspire trend: Open Diary
- Inspire trend: Experience is All
- Mintel futures: Access Anything, Anywhere
Market Size and Forecast
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- Key points
- Newspapers
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- Figure 8: Aggregated newspaper website audience, November 2011-November 2012
- Online readership increases
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- Figure 9: Top U.S. print media websites, by market share, June 2013
- Social media use continues to grow
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- Figure 10: Demographics of Facebook users, 2012
- Figure 11: Number of global Facebook users, by region, April 2013
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- Figure 12: Demographics of twitter users, 2012
- Figure 13: Twitter ad revenues, worldwide, 2010-15
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- Figure 14: U.S. net Twitter digital ad revenues, by mobile vs. desktop, 2012-15
- YouTube
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- Figure 15: Frequency of YouTube visits by U.S. internet users, March 2013
Market Drivers
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- Key points
- Device ownership
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- Figure 16: Smartphone ownership, Nov 2011, June 2013
- Figure 17: Tablet ownership, by age, Feb 2012, June 2013
- Television watching is declining
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- Figure 18: Hours: minutes of television watched per week, by age, Q1 2011-Q1 2013
- Minorities own electronic devices – and these groups are growing
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- Figure 19: Electronic device ownership, by race/Hispanic origin, June 2013
- Figure 20: U.S. population growth, percent change, by race/ethnicity, 2015-55
Competitive Context
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- Key points
- Newspapers are holding their own
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- Figure 21: Number and circulation of daily and Sunday newspapers, 2000-11
- iPads taking ad dollars from print magazines
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- Figure 22: Ad pages/iPad ad unit growth, first half 2012, first half 2013
Segment Performance
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- Key points
- Direct mail
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- Figure 23: Total volume of direct mail/advertising direct mail pieces delivered by USPS, 2003-12
- Figure 24: Volume of advertising-based mail as percentage of total mail volume, 2003-12
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- Figure 25: Percentage who are likely to notice direct mail, by age, June 2013
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- Figure 26: Response rates by selected media, 2012
- Figure 27: Incidence of response to direct mail/email from financial company, by gender, June 2013
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- Figure 28: Interest in receiving information via different channels, by type of provider, June 2013
- Television
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- Figure 29: Marketing channels most likely to be noticed, June 2013
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- Figure 30: DVR market penetration, July 2008-March 2012
- Figure 31: DVR market penetration, by income, August 2011- March 2012
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- Figure 32: U.S. television ad spending, 2011-17
- Radio
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- Figure 33: Air and digital radio spending, $billions, 2010-16
- Online display advertising
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- Figure 34: Net U.S. digital display advertising revenues at major ad-selling companies, 2011-15
- Figure 35: Net U.S. digital display ad revenue growth at major online companies, 2011-15
- Biggest online display advertisers
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- Figure 36: 10 largest display ad advertisers, by impressions (MM), January-December 2012
- Mobile advertising
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- Figure 37: Preferences for types of mobile ads, by age, January 2013
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- Figure 38: Awareness and use of mobile banking apps, April 2013
Innovations and Innovators
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- Key points
- Scavenger hunts drive website traffic
- Credit union finds use for Pinterest
- Flo is a social media star
Marketing Strategies
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- Key points
- Ad spending
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- Figure 39: Top 10 financial services companies’ total ad spending/internet ad spending, 2011-12
- Digital ad spending continues to grow, but more slowly
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- Figure 40: U.S. financial services digital ad spending, 2011-17
- Figure 41: Percent change/percent of total digital ad spend, financial services industry, 2011-16
- Mobile advertising
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- Figure 42: Top five industries in U.S. mobile marketing spending, 2010-15
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- Figure 43: Growth in mobile spending, by format, 2011-16
- Social media
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- Figure 44: Top 10 U.S. banks, by Facebook “likes,” Q2 2013
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- Figure 45: Top 10 U.S. banks, by number of Twitter followers, Q2 2013
- Video
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- Figure 46: Interest in getting information from bank, credit union, or financial adviser via video, by age, June 2013
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- Figure 47: Watch financial services video on social media, by age, October 2012
- Who is on YouTube?
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- Figure 48: Top 10 U.S. financial institutions, by number of YouTube views, Q2 2013
- Overview of the brand landscape
- Brand analysis: Bank of America
- Online initiatives
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- Figure 49: Bank of America online ad, 2013
- Figure 50: Bank of America online ad, 2013
- TV presence
- Television
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- Figure 51: Bank of America television ad, 2013
- Figure 52: Bank of America television ad, 2013
- Print and other
- Direct mail
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- Figure 53: Bank of America direct mail ad, 2013
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- Figure 54: Bank of America email ad, 2013
- Figure 55: Bank of America email ad, 2013
- Brand analysis: Progressive Insurance
- Online initiatives
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- Figure 56: Progressive online ad, 2013
- Figure 57: Progressive online ad, 2013
- TV presence
- Television
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- Figure 58: Progressive television ad, 2013
- Figure 59: Progressive television ad, 2013
- Print and other
- Direct mail
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- Figure 60: Progressive direct mail ad, 2013
- Figure 61: Progressive direct mail ad, 2013
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- Figure 62: Progressive print ad, 2013
- Figure 63: Progressive print ad, 2013
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- Figure 64: Progressive email ad, 2013
- Brand analysis: Visa
- Online initiatives
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- Figure 65: Visa online ad, 2012
- Figure 66: Visa online ad, 2013
- TV presence
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- Figure 67: Visa television ad, 2013
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- Figure 68: Visa television ad, 2013
- Brand analysis: E*TRADE
- Online initiatives
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- Figure 69: E*TRADE online ad, 2013
- Figure 70: E*TRADE online ad, 2013
- TV/YouTube presence
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- Figure 71: E*TRADE television ad, 2013
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- Figure 72: E*TRADE television ad, 2013
- Print and other
- Direct mail
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- Figure 73: E*TRADE direct mail ad, 2013
- Figure 74: E*TRADE direct mail ad, 2013
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- Figure 75: E*TRADE email ad, 2013
- Figure 76: E*TRADE direct mail ad, 2013
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- Figure 77: E*TRADE print ad, 2013
- Figure 78: E*TRADE print ad, 2013
Attitudes Toward Financial Services Ads
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- Key points
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- Figure 79: Attitudes toward financial services ads, by gender, June 2013
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- Figure 80: Attitudes toward financial services ads, by age, June 2013
- Figure 81: Attitudes toward financial services ads, by gender and age, June 2013
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- Figure 82: Attitudes toward financial services ads, by race, June 2013
Marketing Channels Most Likely to be Noticed
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- Key points
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- Figure 83: Marketing channels most likely to be noticed, by gender, June 2013
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- Figure 84: Marketing channels most likely to be noticed, by age, June 2013
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- Figure 85: Marketing channels most likely to be noticed, by race/Hispanic origin, June 2013
Influence of Ads on Communication with Companies
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- Key points
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- Figure 86: Influence of direct mail/email on communication with financial company, by gender, June 2013
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- Figure 87: Influence of direct mail/email on communication with financial company, by age, June 2013
- Figure 88: Influence of direct mail/email on communication with financial company, by race/Hispanic origin, June 2013
Response to Financial Services Ads
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- Key points
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- Figure 89: Method used to respond to financial services ad, by gender, June 2013
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- Figure 90: Method used to respond to financial services ad, by age, June 2013
- Figure 91: Method used to respond to financial services ad, by race/Hispanic origin, June 2013
Interaction with Financial Institutions
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- Key points
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- Figure 92: Attitudes and behaviors relating to customer touchpoints, by gender, June 2013
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- Figure 93: Attitudes and behaviors relating to customer touchpoints, by age, June 2013
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- Figure 94: Attitudes and behaviors relating to customer touchpoints, by income, June 2013
Interest in Communications from Financial Provider
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- Key points
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- Figure 95: Satisfaction with and interest in receiving information via different channels, by type of provider, June 2013
- From primary bank
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- Figure 96: Satisfaction with and interest in receiving information from primary bank via different channels, by gender, June 2013
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- Figure 97: Satisfaction with and interest in receiving information from primary bank via different channels, by age, June 2013
- From primary credit union
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- Figure 98: Satisfaction with and interest in receiving information from primary credit union via different channels, by gender, June 2013
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- Figure 99: Satisfaction with and interest in receiving information from primary credit union via different channels, by age, June 2013
- From primary credit card provider
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- Figure 100: Satisfaction with and interest in receiving information from primary credit card provider via different channels, by gender, June 2013
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- Figure 101: Satisfaction with and interest in receiving information from primary credit card provider via different channels, by age, June 2013
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- Figure 102: Satisfaction with and interest in receiving information from primary credit card provider via different channels, by race/Hispanic origin, June 2013
- From primary insurance company
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- Figure 103: Satisfaction with and interest in receiving information from primary insurance company via different channels, by age, June 2013
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- Figure 104: Satisfaction with and interest in receiving information from primary insurance company via different channels, by income, June 2013
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- Figure 105: Satisfaction with and interest in receiving information from primary insurance company via different channels, by race/Hispanic origin, June 2013
Attitudes Toward Providing Personal Information
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- Key points
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- Figure 106: Attitudes toward providing personal information, by gender, June 2013
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- Figure 107: Attitudes toward providing personal information, by age, June 2013
- Figure 108: Attitudes toward providing personal information, by gender and age, June 2013
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- Figure 109: Attitudes toward providing personal information, by race, June 2013
Call Center Influence on Purchase Behavior
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- Key points
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- Figure 110: Incidence of purchase based on information from call center, June 2013
Appendix – Other Useful Consumer Tables
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- Key points
- Ownership of financial products
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- Figure 111: Financial products owned, by gender, June 2013
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- Figure 112: Financial products owned, by age, June 2013
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- Figure 113: Financial products owned, by gender and age, June 2013
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- Figure 114: Financial products owned, by income, June 2013
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- Figure 115: Financial products owned, by race/Hispanic origin, June 2013
Appendix – Trade Associations
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