The Bankwatch

Tracking the consumer evolution of financial services

While GenX/Y lead, Banks should watch their valuable boomer customers

Jim notes the recent stats on Social Networks to draw out that all age groups are involved. I support this view – Banks should increasingly build out for GenX/Y all the while remembering that all generations will use it. Gen X/Y provide the future clues for strategy direction, but don’t assume those valuable boomers are not there too, because they are.

The Aging of Facebook Makes it a More Appealing Platform for Financial-Services Firms (NetBanker)

Significance for Banks As you consider your social networking strategy, don’t think it’s only for the under-25 crowd. Some of your prime customers, the 30-somethings with new families, new cars, new homes, and accelerating careers, also keep in touch with friends via social networks. Refer to Online Banking Report, Social Personal Finance, for a long-term forecast and strategic options for financial institutions. Also, see our earlier post on the Top-10 Banking & Money apps on Facebook here.

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Written by Colin Henderson

July 14, 2007 at 15:03

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