Financial services tracking report 2012

At the DMA Financial Services Council, we recognise the value to our members in tracking consumer sentiments towards financial services providers, their products and the subsequent impact on usage of marketing communications and channels. We have been tracking perceptions since 2008. This report presents the findings from the Consumer Trust in Financial Services Study conducted in Q4 2011.

The Financial Services industry led a very high profile life in 2011. With many media moments created less confidence for consumers in the industry than more. From stock market volatility and big-bank backlash to PPi claims and anaemic savings rates – the bad news seemed bountiful and the good news in scarce supply. With this and the arrival of social media centre stage, we have seen the emergence of a new voice; the confident consumer is also ‘advertising’ opinion which is starting to impact consumer’s trust and decision making.

So to state all is rosy in the garden of consumer perception would be an exaggeration. in fact it would be plain wrong. But as you read through this report, spot the stats and consider the commentary – there are encouraging learning here. and as you will find from the data, 2011 looks potentially to be a ‘turning the proverbial corner’ year for most sections of the industry.

Above all, we hope the findings are both useful and useable. From providing evidence to strengthen budget bids for media to adding teeth to the argument that traditional direct media has a new role. as ever we welcome all feedback.

Regards

Christopher Brooks FIDM,

Director, Lexden Ltd.

christopherbrooks@lexdengroup.com

Vice-chair, Financial Services Council, Direct Marketing Association

financial_services_tracking_study_2012.pdf