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Steez Survey 2022

Steez Life™:The Guide to Gen Z Readiness – is a working definition of who Gen Z is, and what it means to stand up for them in financial services and beyond – created by Tearsheet and Publicis Sapient. 

 

We would love to get your input to help us make it great. There are two parts to this survey. The first is a Quantitative survey that should take 5 minutes. The second part is an optional Qualitative Survey to give us more details about your answers.

 

This survey is anonymous. It measures how prepared US financial institutions are to serve the Gen Z demographic.The insights gathered will be distributed to banks and fintechs’ executive teams, so they can develop effective strategies to address this segment. When distributing the results we will not include your name or your organization’s name – only the result of our findings. 

 

If you would like to see the final survey results before we distribute them, please leave us your email address, and we will share them with you. You also have the option to opt-out, and your results will not be included in the final report. 

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Quantitative Survey

Brand Marketing

The average attention span of Gen Z is about eight seconds – so connecting with this generation online means creating content that grabs their attention immediately. Gen Z is big on financial literacy – despite not getting a lot of opportunities to learn about it in school. Instead, they're turning to platforms like TikTok to learn more.

Q1. Gen Zers spend an average of 8 hours/day on their phone in two key domains: social media and online gaming. How active is your institution on social media?
Q2. Which social media platforms do you use to communicate with your customers?
Q3. Online gaming captures the biggest reach on the attention span of Gen Z – with 87% of them playing at least weekly. Do you plan to extend your services into the metaverse?
Q4. Financial literacy ranks as a top priority for Gen Zers across the globe. Do you offer financial literacy on your marketing channel?
Q5. Does your organization have any current marketing initiatives targeting Gen Zers?

Product

Gen Zers are estimated to have $360 billion in spending power. They are set to become the largest group of consumers in the next decade as they further integrate into the workforce. Furthermore, Zoomers are expected to inherit at least $30 trillion in wealth transfer from their Boomer elders.

Q1. Gen Zers invest more than their elders in cryptocurrency. Do you offer cryptocurrency services?
Q2. Gen Zers invest more of their income than their elders through automated investment platforms. Do you offer automated investment platforms to your clients?
Q3. Many Gen Zers are leaning on Buy Now, Pay Later services to avoid revolving credit card debt. Do you offer Buy Now, Pay Later services?
Q4. Gen Zers are considered careful savers and frugal spenders. Do you offer Personal Finance Management (PFM) tools for your customers?
Q5. Gen Zers value Environmental, Social, Governance (ESG) options within their banking and investing choices. Do you offer ESG-linked investment services?

Brand Values

Gen Z invests to make money but also to support social good. More socially and environmentally conscious than their elders, they are highly inclined towards purpose-driven investing. 67% are interested in investing in sustainability organizations, and 35% are willing to invest in those organizations – even at the cost of lower returns.

Q1. Historically, Gen Zers are by far the most diverse generation particularly when it comes to race, ethnicity and gender. This is also something that they value when it comes to making consumer-based choices. How would you describe the diversity of your institution?

1 Star: Not at all - 5 stars: Extremely diverse

1 Star: Not at all - 5 stars: Extremely diverse

Q2. The majority of Gen Zers would switch their financial services provider to one more committed to diversity, equity, inclusion, environmental, social, and governance issues. How environmentally friendly is your institution?

1 Star: Not at all - 5 stars: Extremely friendly

Q3. Gen Zers are growing up to be more open-minded, liberal, and actively engaged in social issues. How engaged is your institution in social issues?

1 Star: Not at all - 5 stars: Extremely engaged

Q4. The majority (70%) of Gen Zers believe that increasing racial and ethnic diversity is good and important for society. How racially representative is your organization?

1 Star: Not at all - 5 stars: Extremely representative

Q5. How supportive is your organization of gender equality?

1 Star: Not at all - 5 stars: Extremely supportive

Qualitative Survey (Optional)

We would love to hear more about your answers above and what you are doing to service Gen Zers. Please share a little more of your time with us. 

Brand Marketing

The average attention span of Gen Z is about eight seconds – so connecting with this generation online means creating content that grabs their attention immediately. Gen Z is big on financial literacy – despite not getting a lot of opportunities to learn about it in school. Instead, they're turning to platforms like TikTok to learn more.

Q2.a) Which social media platforms do you use to communicate with your customers?

Product

Gen Zers are estimated to have $360 billion in spending power. They are set to become the largest group of consumers in the next decade as they further integrate into the workforce. Furthermore, Zoomers are expected to inherit at least $30 trillion in wealth transfer from their Boomer elders.

Brand Values

Gen Z invests to make money but also to support social good. More socially and environmentally conscious than their elders, they are highly inclined towards purpose-driven investing. 67% are interested in investing in sustainability organizations, and 35% are willing to invest in those organizations – even at the cost of lower returns.

Thanks for submitting!

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