Millennials have become the single most powerful consumer demographic, and that isn’t simply in regard to shopping and tech.
If you want to build a long-lasting customer relationship with any group of people, millennials are the ones to target.
They’re savvy, pragmatic, and research-focused, which makes them the perfect audience for financial institutions.
To make sure that your next marketing campaign is a hit with millennials, keep these guidelines in mind.
1. Prioritize your Informative Material
Millennials are not the type to make an uninformed purchase or decision.
They want to know exactly what they’re getting themselves into, and won’t be easily swayed by fluffy or unclear language.
They aren’t likely to sign up for a service if they don’t understand all aspects of the potential agreement.
For example, they would be more likely to apply for an auto title loan if they were aware up front that they could keep their car while they receive the funds.
Make sure that you provide an extensive amount of information regarding the services you offer and the terms that are involved.
Additionally, make this information easy to locate on your website and online platforms.
The more a millennial knows about a particular service or product, the quicker they’ll come to a decision about moving forward.
2. Foster Communication and Dialogue through Customer Service
Just like their affinity for in-depth research, millennials like to ask questions.
Having a customer service team that is accommodating and informative could influence a millennial’s decision to work with you.
Don’t just limit your customer service capabilities to standard office hours. Equip your website with an automated chat feature or a comprehensive FAQ page.
Ensure that your product pages are easy to navigate between, and include any helpful or relevant information from the start.
3. Make your Brand Mobile-Friendly
When it comes to how they consume data and information, millennials are primarily online. Specifically, they prefer to access the internet from their mobile devices.
If you want to reach this demographic, mobile phones should be your tool of choice.
If you don’t already offer a mobile app, you should get started on making one. This is how millennials prefer to shop and read into different brands, and it works in your favor.
This generation was born into a world of technological advancement. As a result, they place a high value on convenience.
As thorough as they are, millennials still want to simplify their day-to-day tasks however possible.
Reaching them through a mobile app gives them everything they need in one accessible place.
4. Build an Interactive Experience
If you want to keep millennials as part of your customer base, let them be involved.
In comparison to previous generations, millennials have a high amount of agency and it’s important for them to keep that throughout a transaction or agreement period.
Giving them the ability to tailor your services and products to their own specific needs could be a deal breaker.
Whether you can have a live person available for these inquiries, or even artificial intelligence, being present and involved as a brand is just as important.
5. Don’t Skip Over Security
Growing up in the ever-growing realm of technology, millennials have seen their fair share of data disasters.
This demographic is cautious and calculated, so security is at the forefront of their decision making. This is especially true for the financial sector.
Build an image that highlights your institution as a leader in information security and data protection.
Discuss how you’re striving to prevent data misuse, and how successful your efforts have been in the past.
Millennials are loyal consumers, but they can be tricky to win at first. Targeting their foundational sense of stability and growth can help you win their business that much faster.
6. Highlight your Organization’s Plans for Growth
Security is huge for millennials, but so is growth potential. They don’t want to sow their roots with stagnant brands.
This age group is fast paced and dynamic, and where they give their business reflects that.
To win with millennials, bring attention to your brand’s plan for consistent improvement by highlighting your company’s new products, service updates, and technology.
If they feel like they can build a future with your brand and what you offer, you’ll have a better shot at getting them to sign up.
Millennials aren’t the easiest group of consumers to target, but they are one of the most influential. Tapping into this powerful demographic could completely change the course of your company’s growth and potential for success.