More consumers feel confident that the economy will improve before the end of 2010 and this new attitude will lead investors back into the market. What may be different this time is that investors plan to come into the market armed with more information about where they want to put their money. This trend means that financial marketers from banks to brokers have a chance to win new customers by using educational ad campaigns.
Scottrade’s new survey reveals that consumers are proactively managing their money by taking the following steps:
Checking account balances: 43% are watching these accounts weekly with more than half of the Gen Y group (18-26 year olds) checking balances once a week
Research: 18% of investors are reading online reports before making investment decisions. Nearly 4 in 10 investors under age 65 are using online resources to help them make decisions.
Education: 16% of investors are going an extra step and actively learning how the economy works in order to improve the outcomes of their decisions. Another 25% of investors are seeking information about their personal financial situation.
A related report from The Media Audit indicates that consumers between the ages of 18 to 34 are the mostly financially optimistic, with just over half of this group expecting improved market conditions in the next six months. This report also notes that consumers who heavily use the Internet are more likely to feel positive about their financial situation in the next six months. Given these findings, financial marketers may be ready to advertise their services and products via both traditional and online campaigns.[Sources: Scottrade release, 9.8.09; The Media Audit, August 2009]