If asset managers want to reach and appear relevant to the 51 million Generation X and 80 million Generation Y populations, they must actively post "remarkable and fresh content" on the three biggest social media outlets: LinkedIn, Facebook and Twitter. No question about it. That was the message from Barbara Kotlyar, senior marketing manager of data aggregator ByAllAccounts, and Loic Jeanjean, director of web marketing at financial services Internet design firm Advisor Websites, during a recent Web seminar, "Attracting Gen X & Y Clients With Social Media."
Gen X, those born between 1966 and 1976 and between the ages of 35 and 45, and Gen Y, those born between 1977 and 2001 and between the ages of 10 and 34, increasingly research, judge and select financial companies, products and advice through social media, Kotlyar said. Gen Y in particular is not impressed by traditional advertising and marketing and has the least brand loyalty of any age group, she said. Even more interestingly, the more frequently a company participates in social media, the more likely it will appear at the top of the results of a search engine, Jeanjean added. "Your goal is to hijack Google, Bing or any other search engine," Jeanjean said.