Product Concept Survey Results Summary
Respondents were asked to assess SPENDiD’s unique budgeting and scoring capabilities as described in this 90-second explainer video
1. 64% of all respondents said SPENDiD’s simple ‘interview' style approach to automatic budget creation, cash-flow health scoring, and use of peer-comparisons is unlike anything else they’ve seen before. 69%
2. 63% said they would likely try SPENDiD were it readily available to them. 62%
3. 63% felt that periodic use of SPENDiD would increase their chance of success at meeting their savings goals. 69%
4. 51% said they would likely use SPENDiD’s functionality as described in the video at least a few times each month. 61%
5. On average respondents estimated that use of SPENDiD’s capabilities would result in them carrying a higher average cash balance of approximately $250. $212
6. 53% of respondents indicated they would favor a budgeting platform that included SPENDiD’s approach vs one that did not. 61%
7. 67% believe that access to SPENDiD’s capabilities would result in "non-budgeters" becoming "budgeters". 71%
8. 39% said they would consider moving their primary banking relationship to a provider who offered (for free) a fully functional version of SPENDiD if their current bank/CU did not. 46%
9. 54% stated they would view their employer more favorably if SPENDiD were offered as a free Employee Financial Wellness Benefit. 69%
XX% figures are representative of a subset of 69 respondents (49% of 141 total) in the $50K-$99.9K Annual Income range.
Demographic Breakdown of 141 Survey Respondents:
Household Annual Income:
Survey conducted in October-2020 via purchased list of unbiased anonymous respondents using Survey Monkey.