Issue 4. 2022 25 MARKETING INTELLIGENCE PLATFORM > Online and offline consumer behavior of financial products and services > Consumer categories searched by markets and how they can personalize the experience > Market activity, saturation, and potential > Investment opportunities > Competitor penetration and spending Thousands of financial institutions have relied on Vericast to deliver the intelligence they need to amplify their marketing efforts and ROI for decades. “With the Market Intelligence Platform, for the firsttime, financial institutions can focus strategies on market profiles versus a blanketed campaign, see actual results, and invest in locations where there is the greatest impact,” said Nicholas. To schedule a demonstration or to learn more about the Market Intelligence Platform, visit Vericast. INDUSTRY-FIRST FINANCIAL TECHNOLOGY THAT DRIVES SMARTER MARKETING DECISIONS “Vericast’s Market Intelligence Platform empowers financial institutions to make data-driven decisions and determine return on investment of valuable marketing dollars,” said Sara Becker, Senior Vice President, Director of Marketing and Communications at First Interstate Bank. “The intuitive, easy-to-understand dashboard provides meaningful insights that are critical to bank marketing in this highly competitive landscape. The fact it is provided to clients at no cost is just another way Vericast demonstrates its commitment to the financial industry as a whole—by arming banks and credit unions with relevant tools and information to be the best we can be.” Sara Becker, Senior Vice President, Director of Marketing and Communications at First Interstate Bank. 1 It’s no secret that over the last twoplus years public trust in our nation’s leading institutions has severely declined. Whatever the reason, people are less likely to look outside of their inner circles for guidance and advice on important life decisions. Vericast Survey Reveals a Disturbing Trend What you may not realize is the shift from institutional trust appears to have bled into the financial services industry. Our recent survey of 1,000 U.S. adults revealed this alarming trend: people are in reasingly turning to alternative sources for financial informa ion, advice and assistance. While our poll shows that every generation is affected, the change in attitude and behavior of Generation Z (ages 10–25, our survey included those 18–25) stands out. This coming-of-age gener tion, now with more inc me to sp nd, save and inv st, is t most likely to report that they may seek financial advice from online practitioners who in many ases appear far less qualified, knowledgeable and accountable than professional financial advisors. It’s Not Only Gen Z With Trust Issues A notable percentage of millennials (25%) and Generation X (22%) say they also turn to YouTube videos for important financial planning advice for paying off debt, choosing loans, opening credit card accounts, taking out home equity lines of credit, and more. Yes, It has Com o This … More than 60 percent of all survey respondents said they seek financial advice from social media. Institutions must now compete with Tik Tok®, YouTube® and oth r sometimes opportunistic social media influe cers for the oppor unity and privilege of being consumers’ go-to for the financial advice, products and solutions they need to navigate surging inflation and a slowing economy. Interestingly enough, the resource that scored highest across all generations was friends and family. Financial Institutions Have a Clear Advantage This additional survey information provides financial institutions with valuable insight into LOAN STRATEGIES TO HELP YOUR CUSTOMERS FIGHT INFLATION AND EARN THEIR TRUST Stephenie Williams Vice President, Financial Institution Product and Strategy, Vericast 34% of Gen Z consumers surveyed say that they are getting financial advice from TikTok® and 33% are getting it from YouTube®, while only 24% of this age group are seeking advice from financial advisors.
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