Analytics are needed to target younger generations and fast-growing minorities.

PositionMarketing News - Brief article

As inevitable demographic shifts unfold in the United States, financial service institutions must become equipped to identify and target their next generation of customers. New research from the TowerGroup, Needham, Mass., finds that bank will need to target these new prospects in order to drive growth in the years to come--even as they navigate their way out of today's crisis.

A new report from the company, titled "Marketing to Evolving Demographics: The Keys to Organic Growth in a Mature Industry," is authored by Inci Kaya, a quantitative analyst in the company's Financial Services Strategies and IT Investments research practice.

The report notes that institutions are compelled to invest in and embrace sophisticated data analytics tools to segment the domestic market population more cleverly than before, developing customized product offerings based on the needs of a highly-varied set of audiences.

The coming wave of baby boomer retirees today gets much of the...

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