Understanding the Mind of the Saver

Most savings marketing engages the 95% of our thinking that occurs in the unconscious mind. D2D and our partners in the credit union industry have proven the value of translating cutting-edge consumer research that probes the unconscious mind into actionable marketing campaigns that engage low-to-moderate income consumers in savings behavior.

Impact of Understanding the Mind of the Saver

How the Mind Works

More than 11 million bits of information per second are processed by our senses. Consciousness can process only 20-40 bits per second, from all sources. It takes much longer to explain what one has thought than to think it. 95% of thought is unconcious but the boundary is permeable. The unconscious makes complex decisions at lightening speed. Humans think in images, not words.

Resources on Understanding the Mind of the Saver

A Picture in Your Mind’s Eye: How LMI Individuals See Money and Savings

D2D has begun the process of applying the ZMET research within the financial services industry, starting with credit unions. Over the summer and fall of 2007, D2D completed a review of credit union imagery and messaging related to savings account promotions. Our final sample includes 107 images from 22 credit unions.

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The Mind of Low- to Moderate-Income Savers

The credit union industry and D2D Fund share a common interest: better understanding the mind-set of low- to moderate-income (LMI) consumers regarding personal finances and financial services. For credit unions, attracting LMI customers is important to their mission of “meeting the credit and savings needs of consumers, especially persons of modest means” and an important part of what distinguishes them from other depository institutions.