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Marketing Financial Services to the over 50’s

Dick Stroud, an expert on using interactive channels to communicate with the over-50s market, posted a blog on his website yesterday that includes a link to his presentation on the subject.

The presentation is fascinating as it shows the major growing group of users of social networks are oldies, except what do we mean by ‘oldies’?

Dick gives us five walk-aways:

"1. We spend lots of time talking about the 50+ market but most of the
time we are really talking about the 60+ – probably the 65+ and in many
instance the 70+ market. Certainly in the Finance Industry.

The consumer’s property is critical to so much of their future
livelihood. I know that is an obvious thing to say but it really,
really, really is.

"3. How little we understand about the real
reasons why older people behave the way they do. So much of the time we
view the older market through the corporate window of generalisations
and how we would like older consumers to behave

"4. There are
large country differences, especially with regard to the post work
finance available to people. But, there is a hell of lot in common
between countries, certainly within Europe.

"5. The impact of the
credit crunch on consumer’s choice of channels to funnel their hard
earned cash has probably changed forever. I don’t think the Financial
Services industry has started to come to terms with that fact."

Well worth a look.

About Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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