In recent months we have seen the impacts of COVID-19 on consumer behaviour morph and change across each and every category. As priorities and interests shift along with consumer mindsets we have taken the opportunity to investigate this further through the Audience360 Analytics platform.
Legislative changes have provided unprecedented access to superannuation which we have seen open opportunities for Funds to capitalise on consumer engagement. We have seen consumers engaging on retirement and savings options and taking far greater interest in treasury announcements and review their financial position more broadly.
Interest Cloud: Consumers engaged with finance and superannuation are demonstrating a diminished interest and concern in COVID-19
More broadly, we have seen the national focus on COVID-19 shift to Victoria, however in recent weeks consumers have become increasingly concerned about possible restrictions in NSW and Queensland.
Interest Cloud: We see of the population concerned about COVID the focus is geographically targeted
As we look more deeply into specific financial products, the geographical focus on COVID also presents opportunity to engage with consumers who are less affected.
To address the question “How will we know when to get back into market” we needed a measure of the consumer. Through first party data partnerships were able to monitor audience behaviour and in the case of a finance category we are able to observe which products and services are currently in demand.
First home buyers have clearly taken a step back from the market however the impact on refinancing has been significantly less as households look to large expenditure to save money.
Audience trend by category: Since July we have seen an increase in audiences researching small business while savings and property come under pressure
Analysis of our first party data also shows a reduced engagement with home buyers during this time as the mechanics of the property market, inspections and such move virtual.
We are starting to see signs of bounce back in the home buyers sector with an uptick in audience since June.
First Party Data: Provides an indication that home buyers are slowly returning to market in recent
By interrogating the data at a category and geographical level we are able to deliver strategic results as consumers return to market seeking financial products and services. Talk to Audience360 today about reaching the most engaged financial customers and how the trends in our data can help build your marketing strategy!