November 18, 2013
Money talks. But does it always make sense? In the financial world, complicated language and insider jargon run rampant. And while the messages may be clear to the industry’s communicators, that doesn’t mean that their clients and customers aren’t totally lost.
What we did: We made a list of some of the most common financial terms. Then we sent our video team out on the street to talk to real people and find out what they knew (and what they didn’t) about these frequently used expressions.
What we learned: Unsurprisingly, most people were befuddled by phrases like “variable life” and “asset class,” but many were also unsure about more common terms. And even if they could give a basic definition, they often didn’t know how it might apply to them.
The bottom line: Somewhere between the marketing department and the account holder, things are getting lost in translation. Financial institutions need to simplify the complex and uncover a more meaningful message—and at Ologie, that just happens to be what we do best.