Study Identifies Two Types of Baby Boomers; Only One Group More Likely to Shop Around for Financial Services
NEW YORK, NY--(www.AllPayNews.com - February 7, 2008) - A baby boomer study by Experian Consumer Research suggests that both young and old boomers want to be fully informed before committing to a financial service. However, only one group, the older boomers, is more likely to shop around for the best financial deals. Additionally, the older boomers' use of online banking is growing at a faster rate than the younger boomers.
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The Simmons National Consumer Study suggests that there are two different groups, young baby boomers classified as 45-54 year olds and older boomers, ages 55-64.
Chris Wilson, president of Experian Consumer Research, explained that younger baby boomers' attitudes and opinions differ from older boomers, necessitating separate marketing initiatives. "Financial marketers should overlay their existing baby boomer data with customized psychographic information to best reach and inform these two groups," said Wilson.
Watch David Algranati, vice president of Simmons Integrated Marketing Solutions, speak about the benefits of data integration for the financial sector: http://www.youtube.com/watch?v=WfYQH_XnMQY
Data Integration links information from disparate data sets into one single platform, providing a 360-degree view of what consumers are doing. It profiles target segments against a full range of product, psychographic, lifestyle and media data in the National Consumer Study to yield deep consumer insights.
Experian Consumer Research (ECR) is ranked one of the fastest growing market research companies by Jack Honomichl, the leading market research authority. ERS, a part of Experian, is comprised of Simmons, a full service, consumer research organization that has been The Voice of the American Consumer for more than 50 years, and Vente, a real-time online quality lead generation service.
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