The Not-pocalypse
The financial industry’s struggles are far from the end of times
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Retail banking, a big area of growth for promotions, and also for cross-sales, ties into another of Sherrill’s main points: the importance of demographics. Citing one of Gold Bond’s specific products, she said, “[Our] piggy banks are great not only to promote savings [accounts], … [but also] kids’ accounts. When you look at the number of little people under the age of 18, it’s a significant population and they have a lot of deposits that some banks don’t think to go after.” With their serious need for retail growth, Sherrill explained banks will be relying more and more on demographic-based strategies.
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Michael Cornnell
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