Where People Go first to Buy Financial Products?

Internet becomes the  first destination for  People before they decide to buy financial products. Most of the people are first using and exploring web to find out information about all the financial products like loans, insurance funds banking services etc before buying these products.

A recently research shows that More than 82 % people are using search engines, comparison websites which provide comparison of different products.

The goal of this research is to find out the role of web in purchase of financial products. And it shows that search engines is the top tool in this purchase-decision process

User-generated content like Blogs, reviews and social networking sites as well as online videos also are the other important tools which is also used by users to finalize the purchases. More than 40 per cent users said they opted to watch finance-related videos sites or financial news or company sites before deciding to purchase any financial product.

Increase in usage of User Generated Content  shows the need to effectively managed brand awareness, which is very vital for the financial companies as trust is a major component of the final purchase decision.

What are your views on it ? Do you also use Internet for buying financial product?