The problem with saving is that traditionally there’s nothing inherently enjoyable about it day-to-day, and so marketing has more often than not had to promote the long-term benefits such as life event purchases. However, the self-servicing tools and capabilities that digital banking has brought with it have taken some of the day-to-day pain away – with automatic savings tools such as round-ups allowing customers to build their savings without consciously harming a checking account’s balance.
More recently still, the marketing narrative has changed to focus on the cost-of-living challenge to such an extent that one would be hard pressed to find a deposit-holding bank’s marketing communications not outlining the provider’s support for its customers. Indeed, this is in direct response to consumer sentiment: Curinos research suggests that while digital transformation signals were the primary driver of a brand’s distinctiveness […]
This article is part of the Marketing Intelligence series from the analysts at Amplero and Marketing Analyzer. To read the full article and receive our fortnightly commentary email Michael.email@example.com.