Podcast: Lilah Raynor of Logica Research Talks about the Future of Money
Covering her ongoing Logica Future of Money study and more, Lilah delves into the data around the changing way we we make, spend, save and invest money
On our “Now That’s Significant” podcast, we recently hosted Lilah Raynor, CEO and Founder of Logica Research, a full-service, strategic marketing research agency providing research to organizations to drive decisions and improve people’s financial lives. Lilah has more than 25 years of experience in marketing research in the financial services industry, and she and her team author the Future of Money Study, which has been running since 2017 and is launching the Future of Money Insights Kit this year to make the study insights accessible to organizations to use in their own strategic decision making.
Here’s an overview of some of the topics we covered during the interview:
Lilah started out by addressing how quickly the future of money is transforming, with rapid changes in how people make money, spend it, save it, and invest it. She says that this also translates into rapid change for the companies and organizations that provide financial services and technology to consumers and businesses. In fact, she has heard some people say that pretty much every company is being affected, since every company buying or selling is - in some ways - a fintech company now because the ways we pay is changing so fast.
Logica specializes in uncovering the “money mindset”, helping companies understand how people make decisions around money, whether it’s consumer or B2B decisions. And this can be on how people make decisions about attending college, and how they perceive education and educational brands, to messages for B2B payments products, to value propositions for digital asset products, to thought leadership research or PR for personal finance or wealth management.
Lilah’s curiosity about this topic is driven by her background in the financial services industry, as a director with Schwab, and her educational background in psychology. She loves exploring how people make decisions, and has a personal interest in improving financial inclusion and access to financial services. She says, “I like being able to apply my social sciences research design with my purpose of improving people’s financial lives to the work we do every day for clients. The financial services industry is more complex and dynamic than ever and understanding people’s decision making and perceptions is needed in every aspect of organizations’ products and marketing communications. We get to help with that every day, which I love!”
She goes on to talk about the ongoing “Future of Money” study, which has been conducted bi-annually by Logica Research since 2017. Extra research was done during the pandemic, as people’s personal financial situations and their attitudes and behaviors were changing very rapidly. They regularly share the findings, which people tell them serves as a crystal ball to see where trends are heading, which of course is music to our ears. “We want companies to use the results to inspire new product and service innovation and to communicate and market more effectively.” She talks in more detail about some of the findings during the podcast, in addition to providing information about the new “Future of Money Insights Kit” to help inform strategy for companies.
Lilah also talks with us about some of the interesting pro-bono work that she and her team are doing in the insights space, including work with Women in Research (WIRe), Build Commonwealth, Insights Association IDEA Council and more.
Check out all our “Now That’s Significant” podcast episodes here: https://pod.co/now-thats-significant