Millennials, those born between roughly 1982-2000, are an enormous group of consumers with high spending power and that differ from other generations in a number of ways. Companies in general and banks in particular face difficult challenges in attracting this demographic to their products and services. The bottom line is that the same ole, same ole will NOT work with this generation!
So then, what does prove effective in accurately engaging Millennials and converting them into leads? Below are 3 proven bank marketing strategies that attract and retain millennial clients. (Hold your happy applause until the end).
Focus on Inbound Efforts
Millennials are technology natives, spending lots of time online every day. For bank marketing to reach this segment, pinpoint and utilize the keywords they use to find a bank or related financial service. Brainstorm to create an inbound content strategy focused around the most relevant and opportunistic keywords, which will be used to draw Millennials into your brand. Once you begin churning out content on a regular basis, organic search engines will pick up your message, and Millennials will find you in search engine results. Keep in mind that in addition to keyword rich content, strong lead conversion rates from inbound marketing efforts require strong calls-to-action, valuable offers and powerful landing pages.
Accept "Going Mobile" is a Necessity
There’s no fancy way to say it: mobile friendly technology is essential when bank marketing to Millennials. If a website is difficult to navigate via smart phone or tablet, the company gains the reputation of being an industry relic, and Millennials will not take the time to explore the company further. Ensure your bank's website, emails, and all other marketing content is responsive to the device it’s being viewed from to provide a seamless mobile experience. This effort will pay off big in the long run in attracting this demographic.
Give Back to the Community & World
Millennials expect the companies they work for and do business with to be exemplary corporate citizens. Donating a portion of profits to a charity, or encouraging employees to donate their time to worthy causes plays well with this segment. A smart bank marketing strategy is to include charitable work as part of the marketing message, and make charitable and social efforts clear and easy to find on your website.
Attracting and retaining Millennials presents its own unique form of challenges; however, they aren't insurmountable. By focusing on inbound marketing strategies, creating a mobile friendly online presence, and committing to making the world a better place through charitable and volunteer efforts, bank marketing can achieve powerful results with this demographic. Not to mention, increasing digital marketing and attaining more Millennial customers will help prove and increase your marketing ROI.
For more information about proving and increasing your marketing ROI with the Millennial demographic, download our FREE eBook now!