financial literacy
Connecting financial literacy and brand loyalty
I’m working on a hypothesis and need your help.
The recent economic events prompted thoughts about the need for financial literacy programs. Large government agencies, education institutions and several well-meaning non-profit organizations all believe in the critical importance of financial education.
That’s to be expected. In fact, financial literacy is a topic that’s always been considered the responsibility of educators and government.
But fall 2008 changed everything. Right along with the disappearance of 401K balances and low credit card APRs went brand loyalty and trust. Our thought is that one way to regain it is to reach out and help someone with their finances. Or at least understand their finances and payment options.
Simply put, the hypothesis is that the new path to brand loyalty (which translates into purchase frequency) starts with a more financially astute customer. And that from retail to real estate, financial services to utilities, brands who engage customers on this issue will benefit greatly.
Thoughts? Please let us know.
