In today’s society, speed and convenience are some of the most popular buzzwords. Millennials have fast paced lives and value being able to access what they need on the go. And the world - particularly the successful business world – must adapt to cater to this powerful demographic. Specifically, the banking industry must always stay one step ahead of the fast-thinking, tech-savvy Millennials who are always looking for the newest, most efficient way to handle their finances.
There is an old saying about a picture being worth a thousand words, but with today’s technology, a picture may also be worth a thousand dollars. Current conveniences like check mobile deposit or transferring money with a tap on an app provide Millennials with the efficiency and convenience they are looking for in a bank.
Approximately 90% of all Millennials manage their money online or through apps at some point. Banks and financial institutions that offer their customers digital, on the go services that don’t require face to face interactions will succeed in capturing and retaining Millennials. Aside from online banking, mobile apps, and mobile deposit, other digital services that cater to this demographic include a live chat option on your website, online applications for loan products, and a blog that provides financial resources and answers to readers.
If your bank or financial institution is looking to expand their Millennial customer demographic, digital and online services that provide efficiency and convenience can be the key. Millennials are often driven to their choices based on what best caters to them, and marketing your online services can help increase and prove marketing ROI for this target market. For more information on marketing ROI for financial institutions, download our free eBook now!