1. ‘How and where should financial brands focus their digital attention?’ January 2014

2. What one of our clients have said about ‘How and where financial brands should focus their digital attention?’ “Just a quick note to say thanks again for a super session this afternoon this afternoon. The buzz post the debrief has been really good here and there is a great sense of ambition to work together to drive this forward. Pass on my thanks to Stefan too, his input was great and I learned loads. I’m really looking forward to taking this on a stage with you” James Sievwright, Market Research Manager, The Co-operative Group

3. As financial services struggle with how to embrace the digital era, customers remain disengaged with their providers and overall disillusioned with the financial sector. For those providers who want to, there are significant opportunities to maximise digital channels, but it is important to get it right from the beginning. The insight from our ‘How and where should financial brands focus their digital attention’ provides an essential foundation upon which you can build your digital customer journey strategy, based on a sound understanding of consumer’s real digital behaviours and preferences, rather than what the technology or the competition can do! Insight from Compass Research & 6SM This insight will inform you about the Consumers’ expectations of the Digital channel specifically for Financial Services; what they experience, what they expect, what they prefer and the changing demands for consumers moving forward….

4.  Critical insights you will discover…  How the insights were achieved…  Benefits to your business….  Who we are… Contents of this abstract

5. Critical insights you will discover include: How much digital activity consumers engage in on a daily basis, for context An understanding of the barriers to consumers accepting digital communications and interactions The gulf between retail and financial digital behaviour and how to bridge this gap The difference between commodity financial services products and longer term products in relation to digital interaction The impact of consumers differing digital sophistication and digital usage on encouraging digital engagement How to maximise the clear opportunities available to customers through digital communications, at a unique point time when positive engagement and response conditioning can be developed to maximise your brands digital communications Providing guidance on how to maximise your digital budget by identifying the appropriateness and potential of utilising social media as part of your marketing campaign 5 ‘How and where should financial brands focus their digital attention?’ will enable financial providers to develop the key foundation stones of their own digital strategy :

6. Brand Communication & the evolution of digital devices 6

7. Benefits to your business… What are the benefits of having sight of the research outputs?  To opportunity to build your digital strategy upon the foundations of this detailed customer insight, with the advantage of discussing the implications of these finding in relation to your own strategy, with Compass Research. Clients have already benefited from using this as the conduit to bring the different business areas together for detailed discussion and development. What is the time schedule?  The insight is available now, delivered via a face to face presentation by Compass Research and 6SM to your digital team. This extended presentation offers the opportunity for debate and discussion, clarifying how your brand can maximise the very real opportunity that digital interaction can deliver to your business. What to do next?  To take advantage of these findings and discuss this invaluable syndicate insight, please contact: Sue Diamond - Director, Compass Research Office Tel: 01423 881788 Email: sue.diamond@compassresearch.co.uk www.compassresearch.co.uk

8. How the insight was achieved… Compass Research, working in Association with 6SM a Digital Marketing Consultancy, conducted research amongst a total of 61 digitally engaged consumers representing holders of long and short term financial products. Target Market  Lower users to early adopters  25 years +  Financially independent decision makers  Holding financial products appropriate to their life stage and social class.

9. Methodology An iterative methodology took respondents through a process of understanding and development, resulting in actionable insights  Real life; A consumer diary was completed daily by 25 individuals over a one month period. The diary captured evidence of all consumer interaction by type of digital platform, gathering information on; type of interaction, whether inbound or outbound / solicited or not, with whom, (perceived) intention of interaction and action taken.  Exploration; Face-to-face depth interviews were conducted with those who completed the diary, exploring in depth their digital interventions, experience, behaviour, attitudes and impact on brand relationship  Financial Services Development Workshops; TWO full day workshops were conducted with 36 respondents, using action techniques, including brainstorms, break out groups, creative sessions etc. to identify effective outcomes from digital interactions and how they can be developed, specifically within the financial services sector ( Life and Pensions, General Insurance, Banking, Savings & Investments)

10. Who we are… Compass Research Limited  Are specialists in financial services research, and a highly professional and qualified research consultancy team, gaining huge satisfaction from working alongside our clients, to enhance their businesses, through the identification of focused insight and actionable recommendations Director: Sue Diamond www. compassresearch.co.uk Six Serving Men A pragmatic and commercially focused multi-channel consultancy, enabling clients to interact via multiple channels more effectively through more customised and personalised offerings with customers and drive initiatives based upon data driven decision making Director: Stefan Elliott www.6sm.co.uk

11. Contact: Sue Diamond - Compass Research Limited Mobile: 07768 932432 Office: 01423 881788 Email: sue.diamond@compassresearch.co.uksue.diamond@compassresearch.co.uk Web: www.compassresearch.co.uk