This follows awareness that a larger proportion of the existing customer base is now older.

The drive to expand customer bases has, therefore, changed from "find more customers" to "find more young customers".

The banks themselves are no spring chickens. The average age of the six biggest banks is 62. Siam Commercial Bank (SCB), at 100 years old, is the country's oldest. Bangkok Bank, Kasikornbank and Bank of Ayudhya (BAY) are all 61 years old, and Krung Thai Bank and TMB Bank are 41 and 49, respectively. As the age of their customers rises, the banks are forced to diversify their products to attract younger people and thus lower their clients' average age. Marketing strategies are vital to this process.

Entertainment is likely to be a key concept for some banks in the campaign for younger customers.

BAY, the Kingdom's sixth-largest bank, has been using an entertainment theme in its marketing since last year and will continue to do so this year. It began with a "sporty" promotion in 2005, and its marketing has since been quite aggressive.

One gimmick was the use of tennis star Paradorn Srichaphan as a presenter. Later, BAY used popular singers - winners of the Academy Fantasia stage contest - as presenters, beginning an entertainment-linked form of promotion.

Charlotte Donavanik, first senior executive vice president at BAY, said the average age of her bank's customers was in the neighbourhood of 35-40. By using sports and entertainment marketing concepts, the bank believes it can successfully lower the average age of its customers.

SCB cooperates with business partners in the entertainment sector as part of its marketing strategy to build brand loyalty. The Kingdom's third-largest bank is also a major sponsor of the Thai historical movie "King Naresuan", as well as a number of concerts by both Thai and foreign artists.

SCB executive vice president Pradeep Roy said the entertainment concept was part of the bank's marketing strategy this year. It is aimed at helping the bank expand its customer base to the "new generation", particularly teenagers.

However, entertainment is not its only marketing strategy. SCB will also cooperate with business partners in several industries in joint marketing campaigns.

Bangkok Bank has introduced new financial products and services to attract younger customers. The bank's main targets are the children of existing customers. It has set up the "Bualuang Kids" programme, creating activities for children within the target group.

The country's biggest bank has also introduced Khan Kluay deposit passbooks to tempt children to begin saving. Khan Kluay is a leading animated cartoon character.

Krung Thai Bank has taken a more direct approach to the entertainment concept in marketing. It recently launched what it calls "music marketing", to attract younger customers. Under the programme, the bank has joined forces with LOVEiS, a leading music camp, to provide popular songs online. Customers using the bank's online service can download prerelease versions of LOVEiS songs via the bank's website. 

Somruedi Banchongduang

The Nation