Banking & Finance market
Briefing notes and sales support
for newspaper media sales teams
What’s in this deck?
This deck is split into two sections:
Section 1
Section 2
An overview of the Australian travel market
Support slides for sales presentations
The 2015 Media i Industry Survey asked agencies “what
are the most important factors when dealing with media
owners”. The most common factor (52% agreed ) was
“understanding of your client’s business and category”.
Every great sales presentation is tailored for each client,
but there are certain points that fit most clients within a
category.
Section one provides an overview of the banking and
finance industry, specifically around retail banking,
superannuation and credit cards.
The information contained in this section won’t make you
an instant expert but it will help get you up to speed on
some important facts about the category.
Sections two contains research about how newspaper
media can help finance brands win customers.
Section 1
Finance market: an overview
Banks continue impressive performance
A fall in bad debts combined, growth in core earnings and a
rebound in credit demand helped underpin record results last year.
$29 billion
annual cash earnings in 2014
7%
increase in bank loans in the past 12 months
7.1%
bank deposits grew despite falling interest rates
Source: PWC, Innovating for growth Major Banks Analysis, November 2014.
Majors see stable growth for 1H2015
Source: KPMG, Australian Banks: Half Year Results 2015.
CBA dominates the retail banking sector
Top 10 banks by customer size*
[000]
Commonwealth Bank
4304
ANZ
2287
Westpac
2196
NAB (National Australia Bank)
2039
St George Bank
961
Bendigo Bank
669
BankWest
441
Suncorp
422
CUA
Bank of Queensland
342
259
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
*Main bank used.
Impressive customer satisfaction scores
Strong loyalty and positive customer satisfaction overall,
despite large numbers Net Promoter Score “detractors”.
Loyalty of Banking Customers
Satisfaction with bank
Net Promoter Score of Banks
3.3
11.3
21.6
43.4
Loyal
Disloyal
35.0
73.6
79.4
Satisfied
Dissatisfied
Promoters
Passive
Detractors
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Insurance top of mind for finance customers
Finance Products Intend to Purchase [000]
Home Contents insurance
1267
Comprehensive Motor Vehicle insurance
1245
Travel Insurance
1162
Health insurance
999
Home Building insurance
976
Compulsory Third Party (CTP) Motor Vehicle insurance
849
Credit card
689
Mortgage for homes respondent lives in (non-investment properties)
Day-to-day transaction account or/and savings account
Term deposits and/or cash management account
634
598
537
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Visa leads as credit card debt falls
Average credit card debt has fallen from $3300 to $3106 in the past 6 months.
Credit Card Penetration
Visa
60.2
Mastercard
46.5
American Express
Diners
13.3
0.7
Source: www.moneysmart.gov.au/borrowing-and-credit/credit-cards/credit-card-debt-clock
emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Property investment drives strong performance
5.2 million
home mortgage holders in Australia
2.1 million
investment property mortgage holders
634,000
thinking about getting a home mortgage in the
next 12 months
536,000
thinking about getting an investment mortgage in
the next 12 months
Source: http://www.rba.gov.au/snapshots/fin-stability-snapshot/pdf/fin-stability-snapshot.pdf?accessed=2015-08-12-17-33-34
emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Superannuation market share
Top 10 Superannuation Providers
%
AustralianSuper
14.1
Colonial First State FirstChoice Superannuation/CBA
7.7
First State Super
7.7
Q Super
7.5
HESTA Super Fund
7.4
Retail Employees Superannuation Trust
6.8
Sunsuper Superannuation Fund
6.8
Public Sector Superannuation Scheme
MLC/NAB
AMP
6.2
5.8
5.3
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Average super savings not enough
Average superannuation balance
65+
ASFA estimates the lump sum needed to
support a comfortable lifestyle for a couple
is $510,000 (or $430,000 for a single
person) assuming a partial Age Pension.
45-64
$234,520.34
$202,393.06
14-29
$100,806.49
30-44
$124,115.01
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
ASFA Retirement Standard, March Quarter 2015.
3 in 5 own investment products
Average value of financial investments among those with
a portfolio is $330,331.
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Section 2
Support slides for sales presentations
About these slides
The following slides provide general
supporting arguments to assist sales
teams when building client-specific
presentations.
The purpose is to open discussion, to
demonstrate a basic understanding of
factors that drive financial decisions, and
to show how newspaper media can help
to influence the sales process.
These slides are intended to be used in
a presentation after recapping the
brief, and before presenting analysis
and recommendations tailored to the
specific client.
Needless to say, they can and be should
be adapted to suit your particular
presentation requirements.
Recap client/agency brief
Finance industry
support slides
Client specific
analysis
Recommendations
Newspaper media reaches finance customers
Newspapers in print and digital formats read by 89% of those planning
to buy a financial product or service in the next 12 months.
4 million intending to buy a new financial
product or service this year read print newspapers.
One in two planning on getting a mortgage
this year read digital newspapers.
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Get the best from newspaper platforms
Some forms of newspaper media are more efficient than others at
reaching specific finance customer segments.
80 percent of people planning to get a mortgage in the
next year read printed newspapers.
Consumers intending on getting a personal loan are 24%
more likely to use their mobile to access newspaper media.
Two in three customers intending to sign up for a
new credit card read a metro newspaper in the last 4 weeks.
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Finance customers regularly engage with newspapers
Finance customers likely to be mid- or heavy- print newspaper readers.
Consumers planning to open a term deposit are 13%
more likely to be heavy newspaper readers (i.e. 7+
editions a week) than the general public.
Credit card customers are 6% more likely to be heavy
newspaper readers than the general public.
Consumers planning to open a new Superannuation
account are 6% more likely to be heavy newspaper
readers.
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
It’s not “Internet vs. newspapers”.
It’s “Internet and newspapers”.
6.6 million people who use financial institutions’
websites also turn to newspapers.
7.1 million who use Internet advertising and
search also rely on newspapers
Source: emma, 12 months to June 2015: base: any media most useful
Newspapers are also digital
Print
78%
Digital
66%
The combined reach of print
and digital newspaper media:
92%
of finance customers.
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Mobile readers are prime targets
People who read newspaper media on mobile phones
are 18% more likely to buy finance products
in the next 12 months.
Mobile newspaper media readership up 16% YOY.
72% of
consumers
spend over 2
hours/day on
their mobiles.
75% research
purchases on
mobiles.
Sources: emma, 12 months to June 2015; Deloitte Media Consumer Survey 2015 – Australian media and digital preferences – 4th ed,
Mobile critical for under 40s
58% of Millennials (born mid-80s – early 2000s)
rank mobile as one of their top 3 devices.
43% of 25 to 40 year old home buyers read
newspaper media on their mobiles.
Source: emma ™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015
Business & Finance Sections reach an elite audience
Source: emma™ conducted by Ipsos MediaCT, People 14+ for the 12 months ending June 2015.
Client specific analysis & recommendations
This is the point to bridge to a client specific discussion.
Each presentation will need to be individually tailored to suit the client and their
objectives, but the logical flow from here is to move on to
• Analyses that address the client’s specific situation, challenges and opportunities.
• Solutions using your inventory, giving clear reasons why they are appropriate to the
client’s specific needs, and suggestions on how they can be used most effectively.
About The Author
Adrian Fernandes is Research & Insights Specialist at The Newspaper Works.
He is an award winning researcher with over a decade of experience in advertising and brand research for leading market research
agencies in Europe & Australia. His previous experience includes 4 years at Fairfax Media as Consumer Insights Manager.
Adrian combines data analytics with market research to provide publishers, advertisers and their agencies with actionable insights
relating to the newspaper audience on print and digital platforms.
For more information on this deck, please email adrianfernandes@thenewspaperworks.com.au