SUMMARY
How do you attract the clients of tomorrow? For banks, it hinges on timing: banks need to attract and retain youngsters before they are 25 years old. That’s the moment when they have their first income and start taking up loans, insurances, etc. Attracting clients after 25 is infinitely more difficult and expensive. In precisely this segment, ING faced some serious challenges. Since youth clients don’t own any bank products other than a bank account and banking app, they are quick to leave ING and have very low loyalty levels. In addition, ING has no specific youth offer towards the 18 to 25-year olds and is being outspent by its biggest competitor in the market. But the biggest problem of all is that young adults feel banking products are commodities. They simply don’t care about banks.
For ING, these challenges led to a 15% decrease in natural acquisitions in just two years. The main objective of our campaign is the acquisition of new clients who use their bank account and ING banking app actively. In order to change the idea that banks are a commodity, we need to prove how ING can play a role in young people’s lives. The ING brand should be seen as trustworthy and our campaign as differentiating from campaigns from other banks. Of course, our campaign should also reaffirm existing clients in their relationship with ING.
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