LOS ANGELES, February 2, 2022 /PRNewswire/ — Consumer news platform, DISQOpublished today new ideas on consumer engagement and attitudes towards new online financial services and cryptocurrency. DISQO’s findings on what people think and do about financial industry disruptors are important across industries as brands and retailers consider changes to better serve increasingly tech-savvy consumers. Revealing findings include:
- Maximum engagement with cryptocurrency and new service providers like Robinhood is driven by individual personal characteristics such as self-confidence, then fueled by market developments amplified by news and social media
- Consumers of all income levels visit cryptocurrency exchanges and Robinhood at similar rates
- All ages and incomes are open to experimenting with new investments
DISQO’s platform is powered by zero-party data of unparalleled scale, breadth and granularity, fueling brand growth by putting customers at the center of the brand experience. Brands uncover rich demographic and psychographic consumer profiles associated with behaviors of interest, such as search activities, browsing and shopping cart activity across retail domains, media consumption, exposure to advertising, etc.
In “Deciphering consumer behavior and crypto“, DISQO leveraged its consumer insights platform to examine engagement with major cryptocurrency exchanges, Robinhood, and the top five traditional brokerages (schwab.com, fidelity.com, etrade.com , tdameritrade.com and edwardjones.com). The online activities of more than 10,000 consumer members of DISQO’s fully consented audience informed behavioral analysis between January and November 2021. DISQO also surveyed its audience (n=2700) to learn about – and get opinions on – new financial services and currencies.
“Consumers are at different stages of reviewing and embracing cryptocurrencies and new financial services, so we wanted to dig deeper to help our customers understand these important behavioral shifts,” said Carl Van Ostrand, Vice President, Data Solutions for DISQO. “We explored the behaviors, demographics, and attitude dimensions of current visitors to cryptocurrency exchanges to find out who is driving digital transformation in finance.”
News and social media influence behavior
Visits to crypto exchanges and Robinhood were driven by news and social media. The peaks in site visits corresponded to the Gamestop activist business news cycle in late 2020/early 2021; Elon Musk tweet about dogecoin in May 2021; and Crypto.com obtaining naming rights from the Staples Center to Los Angeles in November 2021.
As the big game on February 13 approaches, with at least two cryptocurrency brands planning to advertise for the first time during the game, these sites will likely see another bump.
Trust and risk aversion
DISQO asked members of its audience who visited cryptocurrency exchanges about their risk tolerance when it came to personal finances and found that people who bought cryptocurrency were more confident in managing their personal finance (72% versus 63%), and also more open to high risk. / high-yield investments (44% vs. 23%) – compared to non-buyers.
Gender, age and income indicators
Comparing people who visited cryptocurrency exchanges and Robinhood to those who visited the sites of the top five traditional brokerage firms, DISQO found that new financial services appealed to significantly more men than women – around two to three more time. However, there was little difference in their income levels.
Traditional stockbroker sites, on the other hand, saw consistent rates of increase in visits from people in higher income brackets, and the gap between women and men was only a few percentage points. percentage (22% versus 29%).
Unsurprisingly, visits to crypto services and Robinhood peaked among people between the ages of 35 and 44, while traditional businesses saw sustained engagement with older people, continuing well beyond 65.
“By connecting what people think with what they do online, we can challenge the idea that new financial services and new currencies are only for the young or the wealthy,” he said. Van Ostrand. “For financial institutions and brands in general, our findings suggest looking at more innovative and customer-friendly approaches over the long term.”
Brands, agencies and researchers are increasingly turning to DISQO for its unique platform that enables a comprehensive understanding of the customer experience. Through direct relationships with consumers who willingly share what they think and do, customers gain breakthrough insights and competitive advantage. DISQO has used its platform to inform the information found in “Deciphering Consumer Behavior and Crypto” which can be downloaded here.
DISQO is a consumer insights platform that offers products that connect insights into what people think and do across brand experiences and consumer journeys. Connecting brand sentiment and results from a single source, DISQO empowers clients to better understand their customers and create competitive advantage. DISQO’s platform is built on comprehensive, permission-based consumer data. Founded in 2015 and based in Los Angeles, CA, DISQO is recognized as a fast-growing technology company and a great place to work, now with 300 team members. Learn more about www.DISQO.com