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Engagement Is Key for Building a Strong Brand in Financial Services

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The Logica Engagement IQ (EiQ) is a tool to help financial brands and their communicators deepen engagement with the public to drive business results. The Engagement IQ is a proprietary measurement system that scores companies on four key measures:

In our Engagement IQ syndicated study, we take a close look at 14 different financial services firms. We have examined how different sub-segments of the financial services industry compare overall and by generation. In general, financial services firms tend to have a lower EiQ score than the tech industry iconic brands such as Apple and Google.

We also see differences between different segments within the financial services industry: payment companies tend to rank higher than banks or brokerage firms.

Millennials and Gen X are relatively engaged with companies in the financial services industry overall, while Boomers lag both groups in their engagement.  The high EiQ scores of Millennials and Gen X are driven primarily by their engagement with payment companies, rather than by engagement with brokerage firms or banks.

Differences between Millennials and Gen X vs. Boomers also surface in the specific ways these generations are likely to show engagement:

  • Millennials and Gen X are more than twice as likely to post on social media about a payment company as Boomers (38% and 33% vs. 19%).
  • Millennials are more likely than Boomers (67% vs. 47%) to accept an invitation to lunch with the CEO of a payment company.
  • Boomers are least likely to read an article about any type of financial services company (48% vs. 61% for Millennials and 59% for Gen X).

Engagement is key for building strong brands.  The Logica Engagement IQ reveals how engagement differs by industry and generation.  Tapping into those differences and boosting them where necessary will build brand engagement strategies to drive business growth. Are Boomers reading about you? Learn more about the Engagement IQ at LogicaResearch.com

Related: Americans Are Embracing Financial Technology

Related: Americans Now Keep More Money in PayPal Than Cash

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