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Helen Geoghegan & Tim Duggan - Fireside chat - On The Cusp: How Westpac and JUNKEE Media are changing how millennials bank

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Fireside chat - On The Cusp: How Westpac and JUNKEE Media are changing how millennials bank

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Helen Geoghegan & Tim Duggan - Fireside chat - On The Cusp: How Westpac and JUNKEE Media are changing how millennials bank

  1. 1. HOW WESTPAC & JUNKEE MEDIA ARE REFRAMING THE WAY MILLENNIALS THINK ABOUT MONEY O N T H E C U S P
  2. 2. YOUTH ARE OUR HEARTLAND
  3. 3. 1,800,000 UNIQUE BROWSERS
  4. 4. 10,200,000WEEKLY FACEBOOK REACH
  5. 5. WE HELP BRANDS TO TELL AND SHARE THEIR STORIES
  6. 6. 200 Bicentennial Honours $200 Gift Bump 200 Community Grants 200 Years Proudly Supporting Australia
  7. 7. 200 Businesses of Tomorrow 200 Westpac Scholars 200 Years Proudly Supporting Australia
  8. 8. WESTPAC & YOUTH M 2 0 2 0
  9. 9. Why do we care? There’s a lot of them They are influential on every generation They are indicators of change
  10. 10. 44% of 25 – 34 year-olds have a side job Every day I’m hustlin’
  11. 11. XXX XX XXX RELEVANT GENUINELY HELPFUL ACCESSIBLE C O N SID ER ED THE OPPORTUNITY
  12. 12. THE THINKING M 2 0 2 0
  13. 13. WE UPDATE OUR RESEARCH INTO YOUTH ATTITUDES AND BEHAVIOURS EVERY YEAR. We know how 12-39yr olds think, behave and engage with brands and content.
  14. 14. Tim
  15. 15. 80%Currently do not have a passion or purpose
  16. 16. 1% 2% 2% 1% 4% 4% 5% 6% 16% 16% 8% 14% 24% 31% 28% 30% 4% 6% 6% 8% 8% 10% 12% 17% 20% 20% 20% 23% 28% 28% 30% 37% 10% 13% 16% 16% 16% 17% 19% 19% 12% 14% 26% 16% 23% 19% 20% 19% 45% 41% 44% 38% 40% 39% 37% 38% 29% 28% 29% 39% 19% 18% 17% 11% 39% 39% 32% 37% 31% 30% 27% 19% 22% 22% 18% 7% 6% 4% 5% 3% It is important to keep up to date with news on a wide range of topics At this moment, life for me is about finding my passion and purpose It is hard to classify myself into one subculture because I fit into many At this moment, life for me is about experiencing the world My generation is more arrogant than previous generations I feel pressured to make the most of the freedom and opportunity I have There is more pressure for someone in my generation to be successful I am confident everything in life will work out fine for me I worry that I will have settled down without having experienced life fully I worry that I will have settled down without having found my true passion I believe my generation is more ambitious than previous generations I follow the news just enough to seem informed in general conversation I want to be perceived as caring about many issues, even if I don't really care Everyone knows a little bit of a lot of things - no one has strong opinions Everyone likes a bit of everything - no one has any strong tastes There is no antagonism or negative rivalry between subcultures Strongly disagree Slightly disagree Neither agree nor disagree Slightly agree Strongly agree QG1. Please indicate how much you agree or disagree with each statement below.Base: Total sample, n=1,906
  17. 17. USE FACEBOOK EVERYDAY 96% MILLENNIALS *Source: Junkee Media / Pollinate Youth Research April 2017
  18. 18. USE FACEBOOK EVERYDAY 99% GENZ *Source: Junkee Media / Pollinate Youth Research April 2017
  19. 19. 53 65 77 82 30 40 50 60 70 80 90 2013 2014 2015 2016 2017 I get more of my news from social media than I do newspapers, radio or TV SOCIAL IS THE SOURCE FOR NEWS & CONTENT I get more of my news from social media than I do from newspapers, radio or TV. 77
  20. 20. QC1. In a typical month how much do you spend on the following… Base: Total sample, n=1,906
  21. 21. 71 68 63 70 68 63 Career opportunities Financial Security Health & Wellbeing DEC '13 JAN '15 B6. Do any of the following currently concern you? Base: Total sample. Wave 3 n=1194, Wave 2 n=1364. WHAT MATTERS TO MILLENIALS
  22. 22. QB16. Thinking about the next 5 years, how would you define success for yourself? What would you need to have done or achieved? Base: Total sample, n=1,906 DEFINE SUCCESS
  23. 23. THE STRATEGY M 2 0 2 0
  24. 24. ALWAYS ON
  25. 25. FISH WHERE THE FISH ARE
  26. 26. THE WHITE SPACE OPPORTUNITY
  27. 27. 80%Currently do not have a passion or purpose
  28. 28. THE SWEET SPOT FOR WESTPAC PASSIONS EXPERIENCES PURPOSE
  29. 29. THE IDEA M 2 0 2 0
  30. 30. [kuhsp] noun. a point that marks the beginning of a change: on the cusp of a new era
  31. 31. 10% SESSIONS 59% SESSIONS 31% SESSIONS
  32. 32. INSPIRATIONAL. INTELLIGENT. STRAIGHT SHOOTING. CURIOUS.
  33. 33. 1. INSPIRATION Showcasing inspiring young Australians who have achieved great things. 2. MOTIVATION Tips and tricks on how you can get there. 3. ASPIRATION Helping you to define and maximise your life goals. CONTENT STRATEGY
  34. 34. XXX XX XXXMONEY CAREER WELLBEING CONTENT UMBRELLA
  35. 35. 600 PIECES OF ORIGINAL CONTENT OVER A YEAR
  36. 36. THE RESULTS M 2 0 2 0
  37. 37. SPOILER: IT’S BEEN A HUGE SUCCESS
  38. 38. 5 Life Lessons To Make Your 20s Suck Less We asked 5 people what they earn & how they spend it Money habits you need to stop if you want to save A simple hack to make your Mondays suck less Bank Balance Confessions: The obsessive budgeter How these successful businesses started as side hustles
  39. 39. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2016 Actual 2017 Actual
  40. 40. Q1 Q2 Q3 New 50.57% New 77.9% Returning 22.1% New 63.4% Returning 36.6% Returning 41.5% New 41.5% Returning 49.43% Q4
  41. 41. Facebook Reach YTD 7.95 million
  42. 42. NSW 34% VIC 31% QLD 15% WA 8% NT .27% SA 7% TAS 1% ACT 2% *Top 2 performing Internationals are the US with 1.97% & UK with 1.2% of the traffic
  43. 43. Money 43% Wellbeing 36% Career 17%
  44. 44.  Leading media title in its genre for young Australians  Tangible, take-out learnings which this group can apply instantly to their lives  Speaks directly to them and their life stages across the 18-35 years  Millennials are time-poor and want educational content explained to them in their language & tone  A topic that this group don’t traditionally feel as comfortable talking about with their friends or family
  45. 45. BRAND STUDIES M 2 0 2 0
  46. 46. Source : Effective measure. How cool would you rate Westpac?
  47. 47. * How likely are you to choose a Westpac product?
  48. 48. * How likely are you to recommend Westpac to a family friend or member?
  49. 49.  Increase awareness & association with the youth segment  Uplift in brand & NPS amongst The Cusp visitors  Build a pipeline of engaged and valuable customers  Shift perception of Westpac amongst the youth market  ‘Always on’ strategy
  50. 50. THANK YOU O N T H E C U S P

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