Youth
Quote of the month
“We want to follow young people step by step, teach them to be responsible and autonomous and push them to be actors of their future.”
Jean-Philippe Van Poperinghe, Directeur du Marché des Particuliers at Banque Fédérale des Banques Populaires, France
Overall issues
- Generating enthusiasm
Banking doesn’t stimulate the imagination of youngsters – so there is a need for partnerships with more trendy mass market products and services. Banks also need to maintain a strong pace of innovation so that they can continue to attract young customers and satisfy their appetites. - Generating loyalty
Students often change banks after their studies, thus making all previous efforts useless and expensive. There is therefore a need for very specific loyalty programmes. - Generating profit
Banks need to consider how to make the youth market profitable. One approach could be to provide specific products for youngsters.
Lessons from the most recent conference
"The youth market", Paris, 31 May and 1 June 2007 (www.efma.com/youth2007)
Best speaker
Arjan Toor, Senior Vice President Marketing at Postbank, ING Group, Netherlands
Best presentations
- "Axion", the way to make money in the youth segment - Dexia Bank, Belgium
- "Pay As You Drive", the insurance service that anticipates the possible next big thing - Norwich Union, UK
- "Club Pop", linking brand and emotions - Banco Popular, Spain
