News Article Published:
Thursday, 23 August 2007
Category:
Insurance
Financial firms that offer pensions would be well advised to advertise their services on the internet, as a study has shown that people in older age groups are using the world wide web more than ever.
According to Ofcom's annual Communications Market Report, in 2006 people aged over 50 comprised a quarter of the British public who go online.
The over-65s may already have a pension plan in place, but finance firms could benefit from the fact that the elderly sit on the most money of all sectors of British society, by using the internet to advertise savings accounts to this age group, who spend 42 hours a month online - the most in any age group.
Additionally firms which offer car insurance only to women, such as Sheila's Wheels and Diamond, should think about upping their online advertising budget, as Ofcom's research also showed that more women were using the net.
Females between 25 and 34 spent more time on the internet than their male counterparts, the study showed.
Overall, average daily surfing took up 36 minutes of time in 2006, which has shown a 158 per cent rise over just four years.
Ofcom predicted that firms would follow the trend of increased internet usage by spending more on web-based advertising and less on TV, radio and newspapers.
Peter Phillips, Ofcom partner of strategy and market developments, said: "Our communications sector continues to develop at a fast pace, with consumers of all ages using a range of devices to find the services they want."
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