This document discusses connecting with Generation Y (Millennials) for financial services firms. Key points:
- Gen Y is a large, wealthy and influential demographic that expects tech-savvy, personalized experiences.
- To attract Gen Y, firms must use new communication channels like social media and provide a seamless, multi-channel experience.
- Winning Gen Y also requires sophisticated CRM to personalize interactions and retain their long-term loyalty as they are less brand-loyal than other groups. Firms must shift to more customer-driven, individualized engagement.
The millennial impact report 2012 (Achieve and Johnson, Grossnickle and Assoc...Inspiring Benefits
Achieve and Johnson, Grossnickle and Associates basa este estudio en los resultados obtenidos de encuestas online a jóvenes de 20 a 35 años, focus group y otra serie de encuestas online a profesionales que hayan dirigido estrategias de proyectos sin ánimo de lucro a este grupo de edad.
The Millennial Consumer (Boston Consulting Group) - AB12Inspiring Benefits
En este estudio, Boston Consulting Group pretende desmontar mitos sobre la generación conocida como millenials, habitualmente calificada de "vaga" y "poco comprometida" y realizar un acercamiento que ayude a conocer más a este grupo como consumidores. (En inglés)
Demystifying Social Business Trends for the Insurance IndustryCognizant
We explore how the insurance industry can embrace social media and networking. Far beyond a mere marketing channel, social business in insurance can be used to recruit employees, design products, collaborate, analyze, and much more.
Este estudio analiza el perfil como compradores de la llamada "The Millennial Generation", considerando como tal al grupo de edad entre los 18 y los 31 años. (En inglés)
Based on, and including, interviews with a global panel of experts from world-leading institutions, Capitalising on the Digital Age outlines future revenue models and strategies that media and telecoms firms should consider adopting in order to prosper in a world where the value of traditional business models is slowly being eroded.
The millennial impact report 2012 (Achieve and Johnson, Grossnickle and Assoc...Inspiring Benefits
Achieve and Johnson, Grossnickle and Associates basa este estudio en los resultados obtenidos de encuestas online a jóvenes de 20 a 35 años, focus group y otra serie de encuestas online a profesionales que hayan dirigido estrategias de proyectos sin ánimo de lucro a este grupo de edad.
The Millennial Consumer (Boston Consulting Group) - AB12Inspiring Benefits
En este estudio, Boston Consulting Group pretende desmontar mitos sobre la generación conocida como millenials, habitualmente calificada de "vaga" y "poco comprometida" y realizar un acercamiento que ayude a conocer más a este grupo como consumidores. (En inglés)
Demystifying Social Business Trends for the Insurance IndustryCognizant
We explore how the insurance industry can embrace social media and networking. Far beyond a mere marketing channel, social business in insurance can be used to recruit employees, design products, collaborate, analyze, and much more.
Este estudio analiza el perfil como compradores de la llamada "The Millennial Generation", considerando como tal al grupo de edad entre los 18 y los 31 años. (En inglés)
Based on, and including, interviews with a global panel of experts from world-leading institutions, Capitalising on the Digital Age outlines future revenue models and strategies that media and telecoms firms should consider adopting in order to prosper in a world where the value of traditional business models is slowly being eroded.
Government Contracting - Brand Or Be Branded In Government Contracting - Win ...JSchaus & Associates
Please join Jennifer Schaus & Associates every Wednesday in 2020 for a complimentary Wednesday series. See the full recording on our YouTube Channel (https://www.youtube.com/watch?v=fMjvh2_DpH0). For more information about our federal contracting services please visit http://www.Jenniferschaus.com or contact us at 202-365-0598. Win more federal government contracts!
A new map for navigating adland’s ever-expanding boundaries. The map is called ‘MaShCreaTr’, a simple four-box matrix that imposes some order on this increasingly chaotic marketing landscape. It stands for ‘Make, Share, Create, Transform’ and clarifies where different types of player, old and new, operate.
What the hotel industry can teach insurance companies about creating brand loyalty.
For more white papers and webinars, go to http://www.sldesignlounge.com
Or visit us at http://www.sld.com
Make sure you are getting the right return on your marketing technology investments. Having the right partner in place to manage that infrastructure and provide the always on support that you need to provide a top notch customer experience.
IBM Global Chief Marketing Officer Study - Oct 2011Tom Humbarger
These are the results of IBM's first-ever Global CMO Study that was issued in October 2011.
"More than 1,700 CMOs from 64 countries
spoke face to face with us for an hour. We believe it is the largest survey of its type ever conducted. It clearly speaks to a broad awareness of how our roles have evolved over the past decade."
More info at www.ibm.com/cmostudy
This year’s edition highlights five critical trends for communicators in the next 12-18 months. Each is brought to life with real-world examples, implications for businesses and a carefully curated selection of classes from innovative institutions worldwide.
The Study Guide is designed as both a primer and a resource to allow for deep-dives. We hope it piques your curiosity and gives you fluency in new elements of modern media and communications.
Social CRM - Functional Architecture and Interactions FlowFabio Cipriani
Building long-lasting links with customer through innovative experience and co-generating value with them
Topics covered:
- Why Social CRM?
- Functional Architecture
- Flow and Value of Interactions
- What are CRM vendors doing to promote Social experience
- Pre-requisites and business questions
January 19, 2012-
dmaDetroit hosted David Brown, EVP and General Manager for Meredith Xcelerated Marketing, as the luncheon speaker.
David's discussed what the "C" in CRM could represent. Please visit www.dmad.org for more direct marketing related events.
Life insurers are missing out on a big opportunity by failing to properly address the 18-24 year old segment of the market. These customers are low risk, they offer high life-time value, and they are open to interacting through digital channels.
Government Contracting - Brand Or Be Branded In Government Contracting - Win ...JSchaus & Associates
Please join Jennifer Schaus & Associates every Wednesday in 2020 for a complimentary Wednesday series. See the full recording on our YouTube Channel (https://www.youtube.com/watch?v=fMjvh2_DpH0). For more information about our federal contracting services please visit http://www.Jenniferschaus.com or contact us at 202-365-0598. Win more federal government contracts!
A new map for navigating adland’s ever-expanding boundaries. The map is called ‘MaShCreaTr’, a simple four-box matrix that imposes some order on this increasingly chaotic marketing landscape. It stands for ‘Make, Share, Create, Transform’ and clarifies where different types of player, old and new, operate.
What the hotel industry can teach insurance companies about creating brand loyalty.
For more white papers and webinars, go to http://www.sldesignlounge.com
Or visit us at http://www.sld.com
Make sure you are getting the right return on your marketing technology investments. Having the right partner in place to manage that infrastructure and provide the always on support that you need to provide a top notch customer experience.
IBM Global Chief Marketing Officer Study - Oct 2011Tom Humbarger
These are the results of IBM's first-ever Global CMO Study that was issued in October 2011.
"More than 1,700 CMOs from 64 countries
spoke face to face with us for an hour. We believe it is the largest survey of its type ever conducted. It clearly speaks to a broad awareness of how our roles have evolved over the past decade."
More info at www.ibm.com/cmostudy
This year’s edition highlights five critical trends for communicators in the next 12-18 months. Each is brought to life with real-world examples, implications for businesses and a carefully curated selection of classes from innovative institutions worldwide.
The Study Guide is designed as both a primer and a resource to allow for deep-dives. We hope it piques your curiosity and gives you fluency in new elements of modern media and communications.
Social CRM - Functional Architecture and Interactions FlowFabio Cipriani
Building long-lasting links with customer through innovative experience and co-generating value with them
Topics covered:
- Why Social CRM?
- Functional Architecture
- Flow and Value of Interactions
- What are CRM vendors doing to promote Social experience
- Pre-requisites and business questions
January 19, 2012-
dmaDetroit hosted David Brown, EVP and General Manager for Meredith Xcelerated Marketing, as the luncheon speaker.
David's discussed what the "C" in CRM could represent. Please visit www.dmad.org for more direct marketing related events.
Life insurers are missing out on a big opportunity by failing to properly address the 18-24 year old segment of the market. These customers are low risk, they offer high life-time value, and they are open to interacting through digital channels.
La región de Tarapacá logra el segundo lugar como la Región más descentralizada del país después de Magallanes.
Esto se refiere al tardo de autonomía en cómo se adoptan las decisiones de inversión
How Generation Y millennials are driving financial industry changeHarland Clarke
Financial marketers are being put to the test as fairly predictable generations of customers give way to the less familiar and less predictable. Pre-Baby Boom generations have been in retirement for years, and their pattern of drawing down assets continues. Now, Baby Boomers themselves are busy liquidating assets to fund college educations, weddings and their own retirements. Generation Xers have well-established careers and saving/investing habits to match.
The Millennial Shift: Financial Services and the Digial Generation Study PreviewCorporate Insight
With 80 million members, the Millennial generation is the largest in the history of the United States. The group's size, coupled with its increasing spending power and social influence, means that Millennials are a huge potential market for financial services firms. However, Millennials' skeptical view of financial institutions and unique digital preferences pose a clear challenge to the industry's traditional marketing strategies and business models.
CI's new study, The Millennial Shift: Financial Services and the Digital Generation will help financial services marketers, product managers and strategists to better understand Millennials and identify effective tactics for serving this demographic. Download the study preview now!
Five Questions the Study Will Address
#1 How do Millennial attitudes/behaviors differ from those of earlier generations?
#2 What financial product features do Millennials value?
#3 Which financial services firms seem to be effectively targeting this group and why?
#4 What are the most effective ways to use technology to market to and serve these consumers?
#5 How can financial firms use education, gamification, social media and other innovations to connect with Millennials?
Deloitte UK / Facebook : a people based telecom business - breathing new lif...yann le gigan
A people-based telecom business : Breathing new life into segmentation strategies
Deloitte UK / Facebook - March 2015
http://www2.deloitte.com/content/dam/Deloitte/uk/Documents/technology-media-telecommunications/deloitte-uk-a%20people-based-telecom-business%20-%20Breathing-new-life-into-segmentation-strategies.pdf
Deloitte and Facebook team up to dissect reams of data, and then tell us that they have found out that "....young mums upload more pics after having their kids..."
Five Business Trends To Watch In 2016 -- No Matter How Or Where You WorkFaisal Hoque
From big data to the gig economy, 2016 may be the year that familiar buzzwords start having real, mainstream impact.
1. The Gig Economy Creates More Opportunities
2. Big Data Gets Even Bigger
3. Social Selling Goes Mainstream
4. Lean Businesses Will Win
5. Generation Z Comes Into Focus
Depending on the sort of entrepreneur, employee, freelancer, or company leader you might be, the year ahead holds varying degrees of promise and pitfalls. Some of the changes afoot are already affecting some more than others.
But optimism is itself a strategic asset—as long as it's backed up by a strong grasp of the facts. With that in mind, here's a look at some of the business trends that seem most likely to impact professionals of all stripes in the year ahead.
Digital Marketing Strategies to Leverage the Buying Power of Gen ZJomer Gregorio
Ready to resonate with the passions and preferences of Gen Z? Our latest presentation unveils powerful digital marketing strategies tailored to tap into the unique buying influence of this dynamic generation. Dive in for actionable insights and make your brand a Gen Z favorite. Ready to enhance your marketing approach? Click to read now!
Full blog here - https://digitalmarketingphilippines.com/digital-marketing-strategies-to-leverage-the-buying-power-of-gen-z/
According to a 2013 retail industry report published by Accenture there are roughly 80 million Millennials in the United States alone, and they are spending approximately $600 billion annually, an amount expected to grow to $1.4 trillion by 2020. As the Baby Boomer generation retires and reduces their spending, building lasting customer relations with this demographic will be a key performance indicator for stability and growth over the next 40 years.
The wealth management industry is undergoing change on multiple fronts. This paper shows how wealth management firms can use client relationship management (CRM) strategies and technology to build relationships as trusted advisors, maximize share of wallet, and increase productivity, contributing to top-line and bottom-line revenues while also gaining a wealth of usable insight.
Similar to Cdc crmp fsar_connecting_withgenerationy_us (20)
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Explains how businesses can use CRM to foster and implement customer-centric innovation, enhancing the customer experience and creating internal efficiencies to establish a clear competitive edge.
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Cdc crmp fsar_connecting_withgenerationy_us
1. Connecting with Generation Y
A R T I C L E
They’re still young, but their importance to your firm’s future
is undeniable. Does your firm know how to connect with this
influential demographic?
They’re young, they’re tech-savvy, and they’re critical to your firm’s future. “Generation Y” (also
known as “Millennials” or “Echo Boomers”) is the group of individuals born between 1982 and
1995, and they’re the largest generational group since the Baby Boomers, 75 million strong. Though
they are still in their teens and early twenties, their buying power is growing rapidly. In fact, their
earnings are expected to go up by 85% within the next 10 years and will outstrip their parents’
earnings by as much as $500 billion.1
Generation Y is a group financial services firms can’t afford to ignore, not just because of the
wealth and business they represent, but because they’re different. As the first generation to grow
up in an age of computer and Internet ubiquity, their attitudes, behaviors, and expectations are
different from those of their elders. Financial services firms that assume the same approaches and
strategies used with prior generations of customers will work with Generation Y may be in for a rude
awakening—one that could be expensive to rectify.
Who Is Generation Y?
“Gen Y” has grown up in the dazzling age of multimedia and the Web—or at least, dazzling for
those to whom it was new. For Gen Y, it’s the norm. Much has been made of the short attention
span that reportedly characterizes Gen Y, but the simple fact is that this is a generation of
immediacy. Gen Yers have since birth had a vast array of information and entertainment at their
fingertips, accessible instantly. A certain amount of impatience with sluggish responses or overly
complex processes seems a fairly predictable result.
Other Gen Y traits that are particularly relevant to financial institutions are this group’s tech-
savviness, practical-mindedness, and social consciousness. According to the results of a survey
of more than 1000 people conducted by Deloitte and Harris Interactive, 45% of Gen Yers cite their
own research as their top influence in making financial decisions, and not surprisingly, most used
online tools as their top research method. Perhaps more interestingly, a far larger percentage of
Gen Yers than of any other generational group were likely to rank family recommendations as their
top influence.2 Gen Y is also practical, valuing simplicity and likely to base decisions on price, rather
than brand. Finally, Gen Y is civic-minded and may consider an institution’s social consciousness in
evaluating its products and services.
Building a Relationship with Generation Y
The desire to connect with Generation Y poses new challenges for financial services firms. For
one thing, Gen Y is skeptical of much traditional marketing and may be difficult to reach with
traditional approaches such as product-focused marketing. This necessitates a more relationship-
focused approach that may require significant changes in process and culture for some financial
services organizations.3
To build these relationships, financial services firms need to reexamine and refine their customer
relationship management (CRM) systems and strategies to ensure they meet the increased
demands of Generation Y. Gen Y routinely uses a wide range of tools and methods to communicate
and engage with others, including cell phones, texting, instant messaging, blogging, podcasts,
social networking sites, and more. This opens up a wide array of channels financial services firms
can use to reach Generation Y, but it also introduces broader multi-channel complexity in managing
interactions with these customers. Generation Y has high expectations of its financial services
providers, and to meet these expectations, firms need to provide a seamless and consistent
customer experience across channels and accommodate the simultaneous use of multiple channels.
1 Forrester. Meet Your Next Financial Consumer. 2007.
2 Deloitte. Catalysts for Change: The Implications of Gen Y Consumers for Banks. 2008.
3 Ibid.
This Pivotal CRM–authored article was originally published by Financial Services Technology (FST).
Pivotal CRM | Article