financial services forum - presentation by dick stroud

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Marketing to the Baby Boomers Dick Stroud 9 th May 2013

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This is a PDF of the presentation that Dick Stroud gave to the Financial Services Forum - May 2013

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Page 1: Financial Services Forum - presentation by Dick Stroud

Marketing to the Baby Boomers

Dick Stroud

9th May 2013

Page 2: Financial Services Forum - presentation by Dick Stroud

Lots to say

20 mins

www.20plus30.com/FSForum

Page 3: Financial Services Forum - presentation by Dick Stroud

Not discussing

⤫  Business rationale

⤫  Market / Segment quantification

⤫  Methods of segmenting

⤫  Generational and lifestage factors

⤫  NPD requirements

Page 4: Financial Services Forum - presentation by Dick Stroud

Physical Ageing

Exciting Essential

Depressing

Page 5: Financial Services Forum - presentation by Dick Stroud

Age

Wealth

Education Sexuality

Health

Page 6: Financial Services Forum - presentation by Dick Stroud

Complex Bunch

Page 7: Financial Services Forum - presentation by Dick Stroud

Equally Complex Bunch

Page 8: Financial Services Forum - presentation by Dick Stroud

Really Complex Bunch

Page 9: Financial Services Forum - presentation by Dick Stroud
Page 10: Financial Services Forum - presentation by Dick Stroud

Standard of living Happiness

Health

Quality of life Index

50-54 60-64 65-69 70-74 75+ 55-59

2  0  -­‐2  -­‐4  -­‐6  -­‐8  -­‐10  -­‐12  

Page 11: Financial Services Forum - presentation by Dick Stroud

AB C1 C2 DE

Standard of living

Health

Happiness

2  0  -­‐2  -­‐4  -­‐6  -­‐8  -­‐10  -­‐14  -­‐16  -­‐20  

Quality of life Index

Page 12: Financial Services Forum - presentation by Dick Stroud
Page 13: Financial Services Forum - presentation by Dick Stroud

Physiological ageing

Page 14: Financial Services Forum - presentation by Dick Stroud

Senses Body Mind

Eyesight  

Touch  

Hearing  

Smell  

Taste   Complexity  

Comprehension  

Muscle  Strength  

Dexterity  

Hair  Flexibility  

Weight  &  Body  Size  

DigesCon  

Urinary  

Skin  

Menopause  

Dental  

Sexual  

Page 15: Financial Services Forum - presentation by Dick Stroud

Maslow's Hierarchy

Psychological

Physical Physiological

Page 16: Financial Services Forum - presentation by Dick Stroud
Page 17: Financial Services Forum - presentation by Dick Stroud

Communications

Support

Product

Online Retail

Page 18: Financial Services Forum - presentation by Dick Stroud

➟ Graphics

➟ Handling

➟ Comprehension

➟ Opening/Closing

➟  Text

Assembly

Design

Packaging

Pricing

Warranty

Communications

Support

Product

Online

Retail

Page 19: Financial Services Forum - presentation by Dick Stroud

Senses Body Mind

Eyesight

Touch

Hearing

Smell

Taste Complexity

Comprehension

Muscle Strength

Dexterity

Flexibility

Weight & Body Size

Skin

Page 20: Financial Services Forum - presentation by Dick Stroud
Page 21: Financial Services Forum - presentation by Dick Stroud

Communications

Support

Product

Online Retail

Page 22: Financial Services Forum - presentation by Dick Stroud

Product

Page 23: Financial Services Forum - presentation by Dick Stroud

Retail

Page 24: Financial Services Forum - presentation by Dick Stroud

Communications

Support

Product

Online Retail

Page 25: Financial Services Forum - presentation by Dick Stroud
Page 26: Financial Services Forum - presentation by Dick Stroud

25 effects of ageing X

200 touchpoints X

Age/Client Weighting

Page 27: Financial Services Forum - presentation by Dick Stroud

Touchpoints

Ageing Factors

Database

Engine

Page 28: Financial Services Forum - presentation by Dick Stroud
Page 29: Financial Services Forum - presentation by Dick Stroud

Interface

Page 30: Financial Services Forum - presentation by Dick Stroud

Who is Who does it well?

Page 31: Financial Services Forum - presentation by Dick Stroud

Communications 4.7

Online 4.1

Product 4.0

Retail 4.4

Phone 4.6

AF Score = 4.4

Page 32: Financial Services Forum - presentation by Dick Stroud

A great customer experience starts by ensuring the touchpoints are age-friendly ✔

Essential to evaluate the complete customer journey ✔

The devil is in the detail – numerous 1% improvements ✔

Becoming age-friendly – a matter of when not if. ✔

Page 33: Financial Services Forum - presentation by Dick Stroud

Thanks for listening!

www.20plus30.com/FSForum

Page 34: Financial Services Forum - presentation by Dick Stroud

Dick Stroud [email protected] www.20plus30.com @20plus30 dickstroud dickstroud

www.the50plusmarket.com

www.age-friendly.com