Does Age Really Matter?
There was a discussion on Twitter yesterday that revolved around an article that discussed the new marketing campaign at Bank Of The West. The article stated that the bank was targeting adults in the 18-54 age range.
As I stated on Twitter, “everyone” is considered a customer segment also. This “targeted segment” just smacks of laziness. It also makes Bank Of The West sound like almost every other bank and credit union in the market.
They claim they want a specific type of customer, but they really want everyone. Most people don’t want to be a part of something that accepts everyone. Customers are more attracted to something that’s exclusive.
What an 18 year old wants in a bank is different from what a 30 year old wants. What those two want would be different from what a 50 year old wants. From what I’ve seen, if you target a market that has more than a 10 year difference in age, you’re just praying you’ll get lucky.
Now, I don’t think using age as a key criteria is bad, as long as it’s used in conjunction with other demographic segments. But if you’re one of those people that still thinks age is the only indicator that matters, you might want to switch careers from marketing to telemarketing.