GI Insight’s latest study into communications and marketing relevance has found that marketers are shooting themselves in the foot by paying too little attention to the highest earning age group in the UK. The study reveals that an overemphasis is being placed on targeting efforts towards younger age groups, in contrast with the 45+ consumer. This is despite the fact that the 45-65 age band is the highest earning, and that the departure of children from the family home often massively increases disposable income. It also, ironically, creates demand for capital release financial products in parental support of those departed offspring as they set up home themselves.
The research, which looked at public and private sectors, examines the level to which the British consumer/ citizen feels that the most important organisations they deal with on a day-to-day basis are communicating with them. At an individual sector level it found that the retail sectors were best at directing targeted and relevant offers and communication to customers. Poorest performance at personalised and relevant communications occurs in the public sector, both at the local and national government level, showing that Citizen Relationship Management initiatives (inspired by Customer Relationship Management in the private sector) have some way to go in their real-life implementation.
