Marketing Forecast from Ad-ology

Few industries are experiencing the kind of negative pushback that consumers reserve for banks. If they’re not looking over their shoulder in fear of a general economic collapse, consumers are concerned that their own personal financial situation is threatened. Executives at banks of all sizes understand they need to improve their image and communicate a message of stability and optimism this year.

While a majority of adults plan on reducing debt and saving more in 2012, just one in seven adults (14%) agrees that they will seek professional help managing their finances. Those most likely to say that they will seek the help of a financial professional include parents (19%), college graduates (18%), those ages 30-44 (18%), and those with a household income of $50,000 or more (17%).

If there’s one thing the ongoing economic crisis has taught consumers, it’s the importance of emergency cash reserves. But it can be difficult for consumers to justify setting aside cash when so many routine expenses come their way. Some insurance companies have decided that the best way to sell life insurance is to promote the dual benefit of the whole-life or permanent plans – survivors get a payout as a death benefit and plan holders can tap the funds to cover cash emergencies.

The healthcare and financial services industries have come under closer consumer scrutiny this year. The healthcare industry is about to undergo a transformation with the upcoming national reforms becoming more apparent in 2012. And, the financial services industry is still struggling to redeem itself after the recent economic collapse. Some analysts believe both of these industries will be rolling out image campaigns in the next year.

Ad-ology Research recently updated their Industry Marketing Insights report for Check Cashing/Payday Loan Services. The following are the predicted Top 3 Opportunities/Challenges from the report for this industry for the upcoming 12 months:

With the worst of the economic contraction hopefully behind us, banks are looking for new ways to generate revenue. Recent legislation has hampered the way financial institutions operate and bad publicity about new fees has stung many banks. Now, banks are considering the best way to promote credit cards to improve profitability.