As the millennial generation ages into more prominent jobs and accumulates greater wealth, banks and credit unions are quickly realizing they need to improve their financial marketing strategy to attract this elusive demographic. But despite the fact that this generation seems to be online at all times, it takes more than a fancy website to make a connection. While many financial institutions have been online for years, attracting millennials requires a full understanding of this demographic to drive impact.
Here are two of the most common financial marketing mistakes that banks and credit unions make targeting millennials:
- Neglecting Mobile
Always on-the-go, millennials today are more likely to be surfing the Web on a device than they are on a computer. Yet many financial institutions still neglect to ensure that their websites and marketing materials are optimized for mobile devices. When designing anything that will live online, from website menus to online programs, ensure that your designs are compatible with mobile devices of all sizes—and will work in different browser types (including Chrome, Safari, Firefox, and IE). Better yet, consider designing for mobile from the start.
- Overly Long or Text-based Content
Millennials are fast-moving multitaskers. They want to maximize the “downtime” in the cracks and crevices as they move through their daily life: sitting on the metro, waiting for a friend at a bar, or even in the final moments before drifting off to sleep. Help them do that my creating content that is short and to-the-point. For best results, consider infographics, videos, and short, crisp articles that relay maximum information.
How To Improve Your Millennial Marketing Strategy
Banks and credit unions that want to connect with the millennial generation would be wise to meet them where they are—which, today, is online as they’re out and about. But it has to be done right. For more tips on how to avoid marketing pitfalls, check out our mini-guide.