Financial Services Overview
As highly fragmented as it is highly profitable, the Financial Services industry faces fierce internal competition, mounting regulatory challenges, and declining public trust. To preserve and expand their customer base, banks and brokerages need to uncover the full range of Narratives consumers hold around wealth, security, savings, and control of personal finances – in order to understand which Narratives affect their brands.
Key Industry
Pain Points
DELIVER AN EXPERIENCE, NOT A SERVICE
Today’s customer expects everything from their finance experience. With new disruptive forces in the financial space, organizations need to offer personalized experiences for the next generation of customers.
COUNTER MISTRUST OF WALL STREET
It’s been nine years since the financial crisis, and six years since Occupy Wall Street. Financial institutions need to better understand customer beliefs to send the right messages to regain credibility with their desired audience.
IMPROVE LOYALTY AND RETENTION THROUGHOUT THE CUSTOMER JOURNEY
The status quo is no longer good enough. Financial institutions need to leverage their data and digital technologies to offer new value to customers across all touch-points.
“We are using Narrative Analytics as the basis for all the marketing we are doing for the next two to three years.”
Julian Aldridge, Brand Evangelist, Former VP Charles Schwab
Solutions for Finance
Energize Your Brand
When a brand needs to be repaired or reinvented, Protagonist can identify which financial Narratives resonate with consumers’ positive attitudes and aspirations to help companies turn these into effective campaigns.
Win a Narrative Battle
Events impact emotions and emotions drive actions. The Financial Services industry took a big hit when Wall Street crashed and markets floundered. Rising from the ashes requires understanding the big cultural conversation and finding Narratives that can turn it toward the light.
Activate Your Target Audience
Protagonist shows financial services companies where to engage and how to connect with desirable demographics based on a Narrative segmentation of the market as well as how to create campaigns that resonate deeply with those populations.
Wells Fargo
Narrative Analytics helped Wells Fargo counter negative press by aligning with positive Narratives about community involvement.
The Challenge
Improve brand perception with consumers in a challenging environment of mistrust in financial institutions.
The Solution
Surfaced the narratives that define the ‘trust conversation’ in financial services, the level of emotion behind each Narrative, and the events that trigger changes in the landscape.
The Results
Identified unexpected white space where Wells Fargo had natural equity with consumers; where they could enhance trust in their brand and reduce the association with broader ‘big bank’ narratives.
It's Time for the Deep Dive
The Narrative Analytics Difference:
How to Achieve Success in a Post-Fact World