Marketing Financial Services To Young Consumers

April 19th, 2007

Benjamin Ensor

With contributors:

Michelle de Lussanet , Tim van Tongeren , Mary Beth Kemp , Lauriane Camus

Summary

The financial needs of today's young consumers are much the same as those of their parents at the same age. But their expectations and behavior are quite different. As they grow older, we expect many of today's young consumers to use the Net as their primary financial channel, be intolerant of technology limitations, be more sensitive to high fees, and be less loyal to financial providers. Financial marketers need to use a mix of traditional and emerging marketing techniques to reach today's young consumers — and then track whether those young recruits stay loyal.

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