Tuesday, June 28, 2011

Reaching Gen Y Through Mum and Dad

It has seemed pretty obvious to me that as the number of multi-generational households increases then there are lots of opportunities for cross generational selling of products. Since parents are increasingly contributing to their kids finances then why not use mum and dad as a marketing channel to get to the younger generation.

This article provides a good example of how this happening in the US with credit union.

A psychologist is quoted as saying : “We are seeing a closer relationship between generations than we have seen since World War II. These young people genuinely like and respect their parents.” Mmm I not so sure about that.

There are 19.1 million nonmembers under the age of 18 who live in a credit union member household. In other words, there are over 19 million kids under the age of 18 whose parents are credit union members but the kids aren’t. Can you say opportunity? Dick Stroud

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