US

How to connect with

consumers by providing financial
literacy content in fresh formats
With the outbreak of COVID-19, consumers are craving advice and information now
more than ever to help map a path to financial health. Particularly during this time of
social distancing, businesses have an opportunity to present that information on digital
platforms, and effectively engage and support consumers, in new ways.

Many people continue to have concerns about reaching financial goals

35% 61% 59%

said they are certain their expressed concern with their expressed concern with their
financial goals are attainable ability to weather a large, ability to provide for themselves
unexpected expense and their family

How do consumers measure financial health?

59% Stability or living within my means

53% Being prepared for a financial emergency

52% Being self-sufficient

52% Comfort or freedom

49% Better quality of life

When asked to rank the most compelling

financial content delivery methods,
respondents said:

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What types of formats can you experiment
with on Facebook?

ages 18-34 who use Facebook platforms*

58% weekly expressed interest in Facebook
groups that provide financial content

C O M PA R E D T O

ages 35 and older who use Facebook platforms*

46% weekly expressed interest in Facebook groups
that provide financial content

How comfortable were US consumers receiving

financial information and advice over chat or
messaging apps?

61%
Financial
information**
44%

58%
Financial
advice***
45%

18-34 35+

Marketer Takeaways

Show an understanding of Create avenues for people to One-on-one doesn’t have to

consumers’ financial fears.
People often have the same broad
financial worries—such as being able
to save money and provide for
themselves and their families. If a
financial institution can demonstrate it
understands these nuances and is an
ally that is looking out for consumers’
best interests—especially as consumers
struggle with the financial ramifications
of COVID-19—that institution can build
affinity and win over consumers.
connect live with experts digitally.
There is a lot of interest for nearly all
types of financial topics, especially among
younger audiences. By creating a wide
range of insights, particularly through
methods that allow for live interactions
online, financial service providers can
attract consumers to their conversations.
Financial institutions should continually
test these new creative formats to ensure
they’re deploying the best methods for
reaching audiences.
mean face-to-face.
US consumers, especially younger ones,
already turn to their friends and family for
financial advice. This creates an opportunity
for financial services firms to use digital
channels such as messenger, groups and
Facebook to connect with audiences.
Particularly during this time of social
distancing, brands have an opportunity
to leverage digital platforms that connect
brands and consumers to deliver valuable
information to consumers right where they are.

Facebook IQ ‘Financial Literacy Study’ (Facebook commissioned online study of 1,000 respondents 18+
in the United States, Dec 2019)
* Facebook platform users refers to those who use Facebook, Instagram, Messenger, WhatsApp.

** In the survey, “Financial information” meant financial facts, such as historical trends and performances,
or how different financial services work.
*** In the survey, “financial advice” meant opinions, such as recommendations, anticipating future financial
performance, or the best methods to achieve financial goals.