Generation X is full of contradictions and not the easiest audience to please.
Denver, Colorado (PRWEB) October 12, 2015
“Generation X is full of contradictions and not the easiest audience to please,” said Greg Sultan, Customer Communications Group senior vice president. “They’re motivated more by rewards than loyalty. They like online tools, but also want personal attention. They’re stocking their savings accounts, but withdrawing from retirement plans — and struggling with daily expenses and debt. Yet, now in their early 30’s to late 40’s, Gen Xers are in their prime earning years. Here are some insights on how to treat them so you can keep them.”
1. Clarify the benefits of alternatives to basic savings accounts and how these options might fit into their financial plans.
2. Help them balance simultaneous demands including their student loans, their own children’s college education and supporting aging parents.
3. Share solid strategies to help them manage and reduce debt.
4. Provide an online budgeting tool.
5. Offer easy access to online banking, online bill pay, mobile banking and text alerts.
6. Give them online calculators, webinars and other financial management tools.
7. Create opportunities for personal interaction — live video chats, traditional face-to-face meetings and free financial reviews.
8. Make it clear to Gen X consumers how they can minimize or eliminate fees.
9. Offer a rewards program tied to the overall banking relationship, rather than one specific card.
10. Make banking convenient — ATM locations are a primary consideration when Gen Xers choose a bank.
How many Gen Xers are in your customer and prospect base? Which age group or audience segment holds the most profit potential for your bank? Find answer to these questions at Customer Communications Group, plus learn how to score customers according to their value in Have You Scored Your Customers Today?
Customer Communications Group (CCG) is a full-service customer relationship marketing (CRM) agency that helps Fortune 2000 retailers and financial institutions improve their bottom lines by improving their customer relationships, loyalty and retention.