Build Wealth, Take Vacations

Wealth and Vacations are two sides of the same customer journey Financial success and consumer spending behaviors are connected and thus understanding the motivations behind them is key. I love to compare and contrast two completely unrelated reports to identify nuggets that are unlikely to surface to the top when comparing two reports that "go together". My takeaway: When marketing financial products to affluent but cautious consumers, emphasize stability, security, and wealth protection—not just returns on investments. To wrap-up: 1. We've seen FIs embrace travel credit cards and benefits more than any other area of the consumer journey. This is an excellent start. What'll help the consumer want your product(s) more than your competitors is if you can help your customer/member navigate the save vs. splurge dilemma. 2. Marketing for successful products should speak to both financial security and the reward of life's experiences.