Why Read This
Think you know your customers? Well just wait, because here come your next financial services consumers — the online youth. Raised on the Internet, these young consumers between the ages of 12 and 21 are avid Web users and embrace social networking. Even at this early stage, online youth are already saving for cars and college and have begun to form financial provider relationships. Why should eBusiness executives care about this up-and-coming group? Because they are the future of online product sales: Of those who applied for a credit card or student loan during the past 12 months, seven in 10 applied online. This online channel behavior creates an imperative for financial providers to form deposit product relationships with online youth at an early age. By creating an affinity with this surprisingly brand-loyal group at an early age, financial providers can grow product ownership levels as these consumers mature.