The financial services industry continues to feel the effects of the financial crisis when it comes to trust. Recent studies have shown that only 54% of consumers trust the financial services industry, so we wondered — how can financial companies and their leadership use predictive analytics and communication best practices to generate more trust through their communications and language?
Using our communication analytics platform, we found that financial services companies use 18.4% less trustworthy language on consumer-facing websites than all Fortune 500 companies across industries. To boost trustworthy language across financial services websites, these companies should consider using more first-person pronouns and more positive language.
Trust in Financial Services vs. All Industries
According to McKinsey, customer intimacy and trust are the most important drivers of loyalty. While we recognize that a company’s actions are likely to have a greater impact on trust than their words, companies that are taking steps to build greater trust across touchpoints—including in their language—will reap the rewards when it comes to loyalty.
To learn more about how we can help your team use data to improve your financial communications, contact us at email@example.com.