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Challenging economic situations have heightened consumers’ need to take greater control over their financial future. They are looking for financial institutions who can help them achieve their goals with more favorable rates and lower fees plus digital tools that make it simpler to complete banking tasks and transactions.
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The challenge of retaining customers and building brand loyalty is nothing new. What’s new is how the shifts in consumer needs and expectations, based on the events of 2020, are affecting brand perceptions and purchase decisions. These shifts are prompting an increase in brand switching behaviors across…
Today, many brands are facing new competitive threats from big tech companies like Facebook, Amazon, Microsoft, Google, and Apple (FAMGA) as well as retail giants like Walmart. Big tech has been taking serious steps to enter new industries ranging from health insurance to healthcare, financial…
Without a doubt, consumer adoption of digital banking products, services and communication channels will continue accelerating. In fact, many industry experts predict that banking is moving toward becoming a digital-first customer experience. As that takes place, digital solutions will need to become more than alternate ways to complete common banking transactions.
Remember that pause on advertising in the early days of the pandemic? To avoid sounding insensitive or tone-deaf, many brands stopped for a moment to rethink their messaging. What we didn’t know then was how long the health crisis would last. Nor did we foresee the impact it would have on customer needs and expectations. Today, brand interactions, purchase decision…
The significant shifts in customer needs, expectations, and behaviors taking place in 2020 are driving many of the 2021 marketing research trends. Across virtually every industry, there is a heightened need for research that helps marketers quickly respond to changing customer expectations.
Many consumers recognize and care about the ways their purchase decisions impact society. This leads them to choose brands that align with their values like supporting sustainability, donating to worthy charities, or advocating for social issues. That’s where the power of a strong brand purpose comes into play. The purpose of your brand is…
Customer data is one thing many marketers have in abundance. Yet, to guide sound business decision-making, marketers need more than a series of scores. They need to generate insights based on strategic marketing research. But what is an insight and how is it different from an observation?
The COVID-19 pandemic continues to pose serious health concerns. At the same time, its impact on our economy is also taking a toll on consumers. We’ve been monitoring how consumers are dealing with the impact of the health crisis on their financial well-being and what it means for the banking industry.
Nearly every business is needing to reassess their long-term strategic plans as the world adapts to the realities of the COVID-19 era. While it’s unclear how long it will take for the pandemic to subside and for our economy to recover, organizations need to begin planning ahead for the next stage.
As the world continues to adapt to life during the pandemic, consumers who’ve had to postpone or even cancel non-COVID-19 related healthcare are starting to think about rescheduling appointments. We recently launched the second wave of a nationwide syndicated study to gauge consumers’ healthcare perceptions, concerns, and…
In February 2020, Time magazine published an article titled, “The Coronavirus Outbreak Has Become the World’s Largest Work-From-Home Experiment.” Well, it certainly is that for all of us at The DRG. While we are not new to having a remote workforce, we learned quite a bit after transitioning from 10% to nearly 100% remote operations.
In the face of daunting challenges and economic uncertainty brought on by the Coronavirus pandemic, one thing is clear, consumers are calling upon the banking industry for support to help them navigate through this crisis and safeguard their financial futures.