ABA Banking Journal - November 2007 - (Page 51)

And previous generations had what today’s kids have in terms of irreverence, defiance, and self-conscious individuality. But the Silent Generation (now 70-85), Boomers, and Generation X (the oldest of which are 42) still had, via mass media and unified messages, a set of societal and purchasing expectations more responsive to standard product and service positioning. Different dynamics were also in play. Silents were obedient by nature. Boomers were so numerous that they made and broke their own rules. They also benefited from a forgiving economic climate that let those so inclined “drop out” and get back in without too much problem. (Many of them, as satirized by Joe Queenan in Balsamic Vinegar and other books, were utterly insufferable in this, simultaneously bragging about Woodstock, their extensive stock portfo- lios, multiple homes, and experienceeconomy vacations.) Gen X, often called the whiny, bitter generation of “slacker” fame, had it tougher in many ways, a relative lack of economic opportunity being only one. But as a result, we (oops, they) figured out when painfully young to fit in or get marginalized. In the zap-friendly, jump-cut world of the Echo Boomers, one ambient message is that all “old people” will deliver retail, life, and work experiences on youth terms. Whether or not this expectation squares with global wage competition and downward pressure on real wages is another matter. (And the characteristic of selective focus applies to even the most selfless; even U.S. soldiers in Iraq rigorously filter.) “The internet, text messaging, peer-to-peer computing, YouTube and related technologies, has made this a uniquely hard-to-reach generation,” Carter notes. This tendency has pluses, including an inventive, generative side, making it easy for content to get remade and amplified. Flight of the Conchords, for instance, the recent HBO hit about “the tribulations of a digi-folk duo” has created a boisterous alt universe on YouTube, where “mocumentary” concerts were taped by fans and posted. Financial services, is, as a category, forced to be more serious, but many of the rules of creating a marketing dialog with the youth segment are the same. “Touch on the concerns in a clear direct way,” Carter says. “Kids are afraid of ‘bad credit cards,’ because that’s the only message they hear. Can banks find a way to get a different message out without it looking artificial? That’s the challenge.” BJ www.ababj.com/subscribe.html ABA BANKING JOURNAL/NOVEMBER 2007 51 http://monarchpg.com http://monarchpg.com http://www.ababj.com/subscribe.html

Table of Contents Feed for the Digital Edition of ABA Banking Journal - November 2007

ABA Banking Journal - November 2007 Contents Editor’s Column Briefing: Good News for Mortgages Sleight of Mind N.Y. Hiring Bonanza May Be Bane Snapshot: A Look at Held-For-Investment Loan Growth ABA Resources ABA Chairman’s Position “The Moose Bank” Thrives on Manufactured Housing Loans Finding the Middle Way for Your Bank’s Retirement Program Pass the Aspirin Cover Story: Self-Service Steps Up DIY U.K. Style Marketing to Millennials Getting Real With “Gen Wired” Ethnic Marketing: Disinterested Banking Getting Good at Global Sourcing Case in Point Turn Compliance on It's Head Banker’s Mart To Advertise/Index of Advertisers The Economy

ABA Banking Journal - November 2007

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