Study: What Radio Listeners Really Think About Their Bank

Study: What Radio Listeners Really Think About Their Bank
SHARE
THIS



When it comes to personal banking and our interactions with the big four banks, research by Nielsen and Commercial Radio Australia has revealed that 69 per cent of Aussie radio listeners are very or quite satisfied with their main financial institution, while 6 per cent are not very or not at all satisfied.

While the proportion of dissatisfied banking customers may be a small, the report noted that they still represent big dollars if they decide to switch banking providers.

Around 11 per cent of commercial radio listeners say they are very or quite likely to change their main financial institution in the next six months, with high fees and charges (19 per cent) and poor interest rates (14 per cent) the most prevalent reasons for doing so.

The research also revealed that around 19 per cent of Aussie commercial radio listeners currently feel they have no money spare for those little extras in life. However, at the other end of the spectrum, 21 per cent of consumers feel financially free and are building up their savings.

Furthermore, 22 per cent of commercial radio listeners say their investment/savings priority for the next two to three years is for a car or holiday, while 18 per cent are focused on paying off their home, and a further 18 per cent are saving for retirement.

David Burge, associate director of Media Industry Group at Nielsen, said consumers’ current financial position and priorities influences the type of financial institution they would prefer to do business with.

“Those who say they ‘have no money to spare’ are more likely to want their bank to handle all their financial matters; while at the other end of the spectrum, those who say they are ‘financially free’ are more likely to deal with multiple providers/services,” he said.

“Segmenting the consumer banking market according to their different characteristics and needs is imperative as advertisers and media publishers need to understand these dynamics when talking to these individual groups.

“Commercial radio is well-placed to reach consumers in each financial segment – breakfast, morning and afternoon sessions are the prime times, each reaching between 36 per cent and 50 per cent of the segments.”

Any reference to Australia or Australians in this report means consumers across the five major capital cities in Australia.

Please login with linkedin to comment

#PRWisdom barina CRM Director

Latest News

Spikes Asia Portraits
  • Marketing

Spikes Asia Appoints Jenny Lau As Events Director

Spikes Asia has announced the appointment of Jenny Lau as events director. Based in Singapore, Lau will take overall responsibility for Spikes Asia.  Lau (pictured) has worked within the Asia-Pacific advertising industry for more than 20 years and brings a deep understanding of the trends and issues affecting the regional advertising and marketing industry. Lau […]

ANZ Brands Top Pattern’s Best Practice Ranking Of Brands On Amazon.com.au
  • Media

ANZ Brands Top Pattern’s Best Practice Ranking Of Brands On Amazon.com.au

Global ecommerce and marketplace specialist Pattern has ranked a group of 50 brands selling on Amazon.com.au based on a set of best practice criteria it has developed. Pet brand Zenify topped the ranking in Pattern’s Amazon Australia Benchmarking Report, scoring 82 per cent of the possible marks against a set of criteria designed to measure […]

Fifth Dimension Expands Executive Leadership Team
  • Marketing

Fifth Dimension Expands Executive Leadership Team

Fifth Dimension Consulting has announced the expansion of its executive leadership team in response to the organisation’s significant growth over the last 18 months. Lyndall Spooner has moved from the position of managing director to the role of chief executive officer (CEO).  As CEO, she will lead Fifth Dimensions’ innovation arm, as well as the […]

GoDaddy Australia Launches GoDaddy Studios To Support Creative Content By Small Business
  • Marketing
  • Technology

GoDaddy Australia Launches GoDaddy Studios To Support Creative Content By Small Business

GoDaddy Inc. has today announced the Australian launch of GoDaddy Studio, a new content creation tool designed for small and medium businesses to create beautiful visual content for their business for all platforms. Compatible on both iOS and Android mobile apps and desktop, GoDaddy Studio includes thousands of customisable templates and easy-to-use tools, providing small […]

Seismic Announces New Zealand Partnerships To Empower Businesses And Workers
  • Technology

Seismic Announces New Zealand Partnerships To Empower Businesses And Workers

Seismic has announced an expanded New Zealand (NZ) presence to support the transformation of sales and marketing teams, and enable the nation’s employers to focus on upskilling their workforces to overcome a digital skills shortage. The company has also signed NZ-based specialist consultancies, Fresh Perspective Sales (FPS) and Jumping Fox Interactive, as its first two […]

Booktopia’s Alex Huntley On Partnering With SaaS Platform Freshworks And Tackling The Pandemic
  • Marketing

Booktopia’s Alex Huntley On Partnering With SaaS Platform Freshworks And Tackling The Pandemic

Alex Huntley, Booktopia’s head of customer experience, recently appeared at software company Freshworks’ recent digital CX summit RE:SOLVE. During the summit, Huntley shared his thoughts on future-proofing customer service architecture.Huntley sat down with B&T to discuss Booktopia’s partnership with Freshworks and how it has helped their platform develop. B&T: Why did Booktopia first decide to partner […]

Nestlé Oceania Adds The Edison Agency To Strategic Design Roster
  • Marketing

Nestlé Oceania Adds The Edison Agency To Strategic Design Roster

The Edison Agency has made four new appointments in its Sydney office to service the continued growth across key account The Arnott’s Group and the recent appointment to Nestlé Oceania’s strategic packaging design roster. Over the past 12 months, the culmination of strategic and creative work across the Uncle Toby’s brand and continued growth of […]

SCA Launches Smart Speaker Experience Tom & Olly’s Guide To Lockdown
  • Media

SCA Launches Smart Speaker Experience Tom & Olly’s Guide To Lockdown

SCA has announced a new smart speaker experience for the Hit Network, with Tom and Olly’s Guide to Lockdown. A voice-activated way to get inspiration and information on fun activities that can be done at home, the guide is curated to appeal to a wide audience. Smart speaker users will find a range of ideas […]