Marketing Financial Products to Boomerang Demographics
The ages of 22 to 29 years old are a time for first purchases
cars and homes and with that comes financial responsibilities.
Financial services marketers could benefit greatly on how well they communicate to this demographic group of financial young wave of new consumers now entering the market.
Marketers need to ask themselves on how to market to this group of generational that are very much part of a household that who are connected to family and are more financially aware than viewed by some.
The implications of a growing Boomerang
(they are called Boomerangs because they are 20 year olds moving back in with their parents again.) This is a market that shouldn’t be ignored since Boomerangs are sensitive to finances of both themselves and their parents.
The reason that this group should be observed by financial planners is because they save a good portion of their income along with helping out their parents to pay the rent. The largest piece of their income goes into saving according to recent research.
Targeting Boomerang using direct marketing methods and shifting their message towards saving rather than dept management could be worth the investment.
Boomerangs view themselves as individuals making a choice to return home to eventually turn their lives around to make a major investment or to reach financial goals.
State Farm insurance and other financial services company that says it strives to incorporate prudent credit use in its marketing messages. They use various direct marketing messages towards younger consumers.
They use websites that link to Twitter and Facebook dedicated to savings along with a number of mobile applications targeting this group of consumers.
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About The Author
Tim G. Little has a BS in Business Administration, and has worked in the magazine publication and circulation management for the past 20 years. As an Internet Publisher and Entrepreneur, he has developed a website to help small business entrepreneurs find the best mailing list and marketing programs ps: I would like to recommend a tool to you to help find Boost Sales… Gain Market Share.. . With Focused List Selection, Tips and Tools for Finding the Perfect List.
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