“We know that the typical way companies have engaged with customers in the past is through advertising. But this traditional dynamic that has worked in the past is changing with the younger generation, as they’re not as likely to recall that advertising,” Meredith Lloyd Rice, senior project director at Cogent, said in the article.
According to Investor Brandscape, 57% of Generation Y investors recalled contact with mutual fund advertisements over the last year, compared to 75% of non-Generation Y investors. Meanwhile, 35% Generation Y investors recalled social media contact, compared to the 4% of non-Generation Y.
“Gen Y grew up in this world where the first place you go for an answer is online,” Colin Kelton, principal and head of retail marketing at Vanguard, said in the article.
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Max Chen contributed to this article.