BANK AND CREDIT UNION MARKETING

The Mystery Generation: Tips for Marketing to Those Tricky Millennials

The Mystery Generation: Tips for Marketing to Those Tricky Millennials
All through high school and college, my teachers and professors tossed the term “Millennial” around like a Hacky Sack. We Millennials were going to have to “get off our phones” and “stop expecting handouts” if we wanted a real job. The negative connotation given to my generation seemed to hyper-prepare us for the dreaded real world.
 
Fast forward a few years, and here we are with real jobs, real goals and real values. We’re a huge buying power, but we’ve tossed brand loyalty to the wayside and can sniff out a spin doctor from a mile away. So what’s a marketer to do? Read on to gain a few key insights about Millennials and what catches our attention in marketing.
 
Send Print, with a Personalized Touch
 
Using print to spark interest may seem counterintuitive, but physical marketing materials cut through the clutter simply by existing. After consuming hours and hours of social media, websites, podcasts and Netflix®, holding something in our hands is actually refreshing. And if your still have your doubts, let’s take a look at some successful companies catering to Millennials right now - Birchbox, Blue Apron™ and Dollar Shave Club®. The excitement of getting something in the mail, that’s meant just for you, creates a feeling that digital just can’t deliver.
 
Take advantage of the benefits of print - personalized salutations, varying textures and quality paper - all while standing out to potential Millennial members.
 
Create an Experience and Encourage Engagement
 
Millennials love to share their ideas, opinions and viewpoints. We are strong believers that our voices have value and deserve to be heard. The good news for you? We’re eager to engage. Do you have a financial planning workshop coming up? Encourage social media followers to tag someone they would bring with them for a chance to win a gift card or other swag. Create a “budgeting challenge,” and motivate followers on social media to post pictures of them completing the challenge with a special hashtag.
 
Take it one step further and feature those who choose to engage by commenting on their posts, reposting their pictures or featuring them in your next newsletter. Being acknowledged and part of something feels good, so take advantage of that insight and use it to generate brand interest.
 
A Personal, Human Touch Can Go Far
 
Millennials are skeptics, especially when it comes to the financial industry. Afterall, we watched our parents experience the turmoil of The Great Recession. We’re entering the workforce with heaps of student debt, and our next step is turning to a trusted partner to help us through big decisions. Most Millennials currently see financial institutions as transactional, rather than relational, but creating a partnership with Millennials isn’t as impossible as you might think.  
 
To eliminate the notion that your organization is just another institution looking for business, create an inviting, down-to-earth image throughout all your branding. In newsletters, have your financial advisors share a favorite money management tip. Send quick, easy-to-digest e-blasts from your lending team offering guidance on financing a first car or home. Make sure your voice is consistently educational throughout all marketing platforms.  
 
Putting a face and a voice to your organization will help potential members easily connect and see a group of trusted professionals, rather than a corporation.
 
In short, catching the attention of Millennials will require strategic and non-traditional approaches, but implementing these new tactics will be well worth it. Interested in learning more about how to create a campaign targeting Millennials? Talk to us today!
 
Posted by Audrey Meis - March 13, 2019