Mickey Mencin, KeyBank
An interesting demographics presentation regarding the “mass affluents”, people who became adults in the 70s who have money to send, and how you communicate with them. The demographics and income data will be in the presentation, but generally they have poor financial literacy with high investable assets (and a pre-occupation with maintaining a lifestyle).
The key question is how to market to these people. Key Bank is creating “media personas” to direct their marketing by medium and message. Interestingly, Key Bank is using the website to gather their data about these people. Not sure how they’re doing this, but that’s a good idea. They’re behaviour online will tell you what they want, and how they want it.
A great question from a Google guy regarding how this information affects product design decisions. A great, great question. We’re seeing that, definately, in our space, not only in the “deep green” products from Vancity but, I think, the no-fee chequing account from Coast. I’d love to see customer-centric product design that goes beyond service fee packages.
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