The document discusses trends in the financial services industry and identifies four key consumer groups: millennials, new movers, the overbanked, and women. It notes that millennials are heavily influenced by mobile technology, new movers are likely to switch banks during a move, the overbanked have many accounts and assets, and women control a large portion of household spending. The document advocates understanding these groups through social listening and customizing engagement on social media to attract customers.

1. BDI – Future of Financial Services
November 2014
melissa@brandwatch.com 3477141303

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5. Summary of 2014 – Financial Services
Less Silos, more hub and spoke social listening models
Continual trend to internal social mobilizing
Continual trend towards online platforms
Willingness to use social to generate revenue
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6. 4 consumer groups
Who are they?
Why are they important for 2015?
How do we find them?
How do we engage with them?
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7. Millennials
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8. Millennial Michael
Works at a tech startup
On his 8th job Since college
2 iPhones, 1 iPad, Macbook Air, iPod
“social media savvy”
Receives Bank balance via text
Chase Pays friends if it’s cash only
8

9. 9
Unless they roll out
Apple Pay and/or a
new mobile app, I will
be switching banks
as there are plenty
other banks out there
that offer more.
How do I have a sterling
bank #mobileapp that
allows me to check my
account balance and do
transfer and more?
@Sterling_Bankng'
@smilepaige
@margarrrrr_et the
25th works for me!
Let me know when
you buy the tix & I'll
chase pay you :)

10. First generation mobile
Technology is the distinguishing trait of their
generation
They’re in debt
69% of millennials have logged into their bank in the past
12 months
Millennial Michael
24% of the US population is between 18 and 24 years old

11. New Movers
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12. New Mover Nancy
She moves apartment every 12-15 months
Primarily uses Facebook, Instagram and Twitter
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Purchasing Ikea furniture online
Amazon for everything else
No time for physical banking
Very receptive to online marketing

13. 53 Million Americans move every year
More than 58% of new movers are single
More likely to be under 44 years old
During this time they’re 3 times more likely to switch
bank accounts
11.2% prefer online shopping in contrast to their non-moving
counterparts (7.2%)
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New Mover Nancy

14. “Why is moving
so #$%ing
expensive!”
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“Can anyone
recommend a
GOOD mortgage
provider?
#buyingahouse
#stressed”
“Covered in paint,
exhausted, eating rice
from a bag and falling
over boxes. But I'm so
happy. #movinghouse
#firsttimebuyer
#ITSALLMINE!”
I think I have found a
house that I love hope the
family gets it omg I hate
packing tho ugh
#MovingHouse SO MANY
BOXES!!  ✌️

15. The Overbanked
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16. Overbanked Bob
Owns his own small business (50 employees)
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2 homes (2 mortgages)
3 savings accounts
Healthy 401k account
Facebook, Blogs and Forums
Online banking
Multiple Financial Advisors

17. Overbanked Bob
They’re older
Time is important to them
25% more likely to be mobile bankers (+51 years old)
Affluent Americans control $7.2 Trillion worth of Assets
More than 13 million (11%) US households have assets
between $250k and 1 Mil *Neilson
They maintain many accounts with many financial institutions
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18. “I've just
retired, and I
need to
consolidate my
investments....”
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I take it that the author
doesn't monitor weekly
charts. Tremendous upside
potential throughout the
overall markets. Definitely
buying more tomorrow.
That's what makes it fun.
If it was easy everyone
would be doing it.
Hedges just aren't the
shrubs in front of your
house.
All wonderful Credit
Cards…my Fidelity AMEX
and VISA Cards put
money into an IRA
Account. jw

19. Women
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20. Wendy the Woman
Is married with 2 children
Part Time professional
Part Time domestic Engineer
iPhone and desktop comp
Uses Facebook and reads blogs and online news sources,
beginning to adopt Instagram.
Mix of traditional banking (branch) but makes majority of
her financial decisions based on forums and blogs

21. Wendy the Woman
Personally control $8 trillion worth of assets in the US
Projected to control 22 trillion by 2020
95% of women in the US are household decision makers
Values banking relationship (focus on trust and customer service)
Are more conservative with their investments

22. I have had Bofa forever.
But let me just say. This
picture. I like how it's an
average looking woman.
Not a fake one. One
more reason why I love
this bank.
Small
business(female)own
er: I love you guys at
the bank. Not easy
your job. Thank you
for telling me I look
good for my age.
Have to leave an
hour early for work
today cause I have
to make a run to
the bank.

23. Consumer v’s Brand Determinism
23

24. “Personal mobile devices are the new branch”
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25. Consumer determinism
Wells Fargo, Fidelity, Discover are beta
testing versions of Glass wear
Fidelity also released a demo of a new pebble smart
watch investment app.
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26. Brand Determinism
Command centers & distributing social value
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27. Social Listening
Understand consumer groups / targeted demographics
Leveraging social insights to validate and support investment decisions
Finding conversations to engage
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28. Social Engagement
SEC and FINRA regs. change daily – understanding what you CAN
do is important. Maintain the dialogue.
Pre-approved content and ad hoc approval
(procurement is sitting WITH social)
Social Selling!!!! – taking advantage of existing networks
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29. Remember Remember!
Social Media requires businesses to customize content
Consumers expect to be spoken to via social media
Social media is an extension of the Country Club!
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30. By segmenting your consumers and prospects you can:
Find them
Engage with them
Win their business!!
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31. Thank you
Email melissa@brandwatch.com
Web www.brandwatch.com
Twitter @MelJKing
Telephone +1 347 714 1303
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32. Endnotes
• Javelin Strategy & Research, Gen Y: How to Engage and Service the New Mobile Generation,
2011
• US Census Bureau Population Estimates, 2012
• Currency Marketing and Andera, How Credit Unions Can Engage the Youth Market, 2012
• Institute for College Access & Success, Project on Student Debt, 2013
• Acton Financial Services, Case Study: Get to New Movers First, 200?
• Epsilon, New Mover Report, 2013, and New Movers Report, 2012
• Andera, The Future of Account Opening, 2013
• Nielsen, Affluence in America: A Financial View of the Mass Affluent, 2012
• Clientific and Andera, What About the Overbanked? Attracting Affluent Customers, 2013
• Visa, Affluent Study, 2013
• Boston Consulting Group, Leveling the Play Field: Upgrading the Wealth Management Experience for Women,
2010
• MasterCard, Ladies First: Why Women Are the Key to Relationship Banking, 2011
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