A report drawing on consumer data from MORI to explore customer acquisition strategies in UK Savings and Investments
Scope of Report:
- Covers savings accounts, ISAs, personal pensions and stakeholder pensions
- Consumer data broken down by class and age including the reasons why consumers choose a provider and how they want to arrange their financial products
- Unique examples and case studies gleaned from our in-house expertise and extensive interviews with industry executives
Report Highlights:
Banks and building societies have traditionally offered a diverse range of savings accounts with a variety of complicated notice periods and bonus payments. However, new business figures from direct savings providers show that consumers value a more transparent savings account with no hidden catches.
The most difficult social group in which to gain a foothold in the savings market includes low income consumers. The best way of attracting this segment is to offer generous rates and thereby provide a genuine incentive for saving to take place.
The number one reason that consumers choose a pension provider is after receiving a recommendation from a friend or relative. This shows that word of mouth is very important in acquiring consumers in the pensions market.
Reasons to Purchase:
- Gain access to consumer data based on surveys carried out by MORI using extensive sample sizes
- Learn what is and what isnt important to consumers when they are deciding to open a product with a financial services provider
- Plan your distribution strategy using the analysis of how consumers arrange their savings and investments products
