Most financial services customers are cautious when making buying decisions and prefer to deal with established companies. Almost two-thirds use the Internet to gather information, according to a survey by R.R. Donnelley, Chicago.
Of 10,000 consumers polled, 79.4% said they collect a lot of information before choosing financial products. In addition, 76.1% evaluate facts and figures and 82.4% read the fine print of an offer.
Almost 45% said they will choose a company with a brand name they trust without researching other providers. And 44.2% said the length of time a firm has been in business is important to them.
Half said they prefer face-to-face meetings before deciding and 90% want product descriptions in plain English. Another 42.3% claimed it is easy to switch providers when they are unhappy. Sixty percent indicated they are conservative with their finances.
R.R. Donnelley conducted the Finsight survey early this year. It is based on online responses from people who are solely or jointly responsible for their family’s financial services decisions.
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