In the current digital landscape, many companies are faced with the decision of whether or not to shift their approach to appeal to a more tech-savvy market. Technology companies and payment services alike are increasingly transitioning to a millennial and Gen Z focus, but Western Union is taking a multi-generational approach to “future proof” the business.
In an interview with PSFK, Western Union’s Mike Hafer, SVP of Marketing and Field Execution, North America, explains the importance of maintaining a broad audience appeal. “Many financial services companies are tailoring their products and services to cater to millennials, leaving out generations that haven’t always operated in a digital-first environment without comparative servicing,” Hafer says. “When we look at Western Union’s demographic breakdown, we’ve found that nearly 40% of U.S. domestic customers are more than 50 years in age—so to exclude this generation would be a huge loss.”
Western Union’s marketing strategy creates an inclusive experience for multi-generational users and is achieved through the implementation of balancing brick-and-mortar stores with mobile capabilities. “At Western Union, our goal is to remove barriers so that consumers can conveniently and reliably move money—no matter how they choose to transact.”