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Financial firms should build relationships with college students as they leave their homes. College students have long term, lifetime value for financial firms and those that reach this lucrative demographic during this impressionable period have the chance to gain loyal customers for life.
Why Financial Firms Should Build Relationships with College Students
1. To Reach Students as they Leave their Homes
College students are a very important group for financial firms, as college students are leaving their homes for the first time and just beginning their customer journey with financial service providers. College students are transitioning into semi-financial independence and are exploring many different financial services options for the first time, including: opening a checking or savings account, obtaining a credit card, taking out student loans, receiving grants and scholarships, planning a budget, just to name a few. Reaching college students during this transitional period is an excellent way to gain new clientele.