Hearst Helps Financial Firms Make Cents of Consumer Behavior

And thatamp8217s just the tip of the iceberg Hearst revealed the findings in an Oct 7 presentation to advertisers led by Hearst Chief Marketing Officer Todd Haskell It also included a panel of Hearst editors discussing their audiencesamp8217 seemingly insatiable thirst for personal finance contentquotPeople have had a lot of time to think about what they want how they want to live and their own personal role in making that happenamp8221 said Hearst Chief Business Officer Kristen Oamp8217HaraThe financial optimism of Americans is a good first takeaway from the research a survey of 2300 respondents oneonone interviews and social listening administered by research firm MarketCast amp8220Their lattes are definitely halffull but with a solid layer of caution foam on topamp8221 Haskell saidOther insights drill much deeper into the hopes and fears of financial consumersLaurie Jennings Deputy Editor and Institute Director for Good Housekeeping noted that the pandemic made many consumers hungry for content that relates to home financing That observation was backed by the MarketCast survey 43 percent of respondents said that investing in their homes buying renovating or otherwise improving a home is a amp8220top priorityamp8221 in the next 1218 monthsMortgages home equity loans and even home insurance are top of mind for these consumers amp8220Prepandemic youamp8217re paying rent and not thinking actively about your credit score and what influences itamp8221 Jennings said When starting to think about buying a home or renovating one though a certain question becomes paramount What is a credit score and how do I get a good oneThe Great Resignation or even The Great Migration with millions of workers either leaving jobs or relocating raises lots of questions about retirement savings What is a 401k What do you do with those contributions after you leave the company Can you contribute to one even if youamp8217re selfemployedOne of Cosmopolitanamp8217s most successful personal finance articles was amp82207 Sneaky Things to Do to Your 401k If You Want to Be Rich as Hellamp8221 said Ashley Oerman Lifestyle Director at Cosmopolitan amp8220With every financial story we start with the basicsamp8221 she added amp8220401ks are complicatedamp8221 But Cosmoamp8217s approach starting with the basics and offering clear concise advice that seems counterintuitive to amp8220set it and forget itamp8221 younger types quickly turned into an audience favoriteYounger generations are increasingly handling their finances themselves rather than using a financial planner Many members of Gen Z are diving into investments nearly two decades earlier than Boomers did taking investment cues from social media like Reddit and TikTok Even the Baby Boomer generation lists Reddit as one of its trusted sources of financial information amp8220Weamp8217re not above using TikTok financial planners as sourcesamp8221 Oerman saidYet Americans from all generational cohorts had to admit in the survey that they are only amp8220somewhatamp8221 or amp8220not at allamp8221 knowledgeable about building an investment portfolio 77 percent of them in fact And as social media finance influencers proliferate the risk of misinformation or flatout scamming increasesamp8220Weamp8217re all very vulnerableamp8221 said Alison Overholt General Manager of Oprah DailyOutright scammers are ever more sophisticated Cryptocurrencies can be confusing even for people who make a living online That leaves ample room for trusted brands to fill that gap amp8220Our brands can come in and provide trusted vetted factchecked researched information that youamp8217re not getting on a social media platformamp8221 Jennings notedThe gaps in Americansamp8217 financial knowledge are quite large and not necessarily stratified by generation That said Hearstamp8217s Jeannie Noonan has four tips for financial services marketersGenZ is looking for ways to boost their credit score and advice on the best investing appsMillennials want budgeting tips and market trendsGenX and Boomers especially those approaching retirement age are looking for information on financial markets and tax strategiesEveryone wants to know the best investment strategy for someone their ageYears ago money was a taboo topic of conversation Not so now Jennings revealed amp8220More and more people are going to talk about it savings salary investingquot she said quotItamp8217s a topic that is just going to be very top of mind for people Thatamp8217s not changingamp8221Savvy marketers will dive right in with themClick the social buttons to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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Hearst Helps Financial Firms Make Cents of Consumer Behavior

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Oriana Schwindt

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