Financial institutions are realizing that they must embrace innovative methods to engage with their audiences – and nowhere is this more true than with the millennial generation. As a demographic that is both less likely to seek professional financial advice and more likely to score low on financial literacy tests, providing millennials with technological options for receiving financial education – anytime, anywhere – is becoming a critical way for financial institutions to connect with this critical audience.
Here are five tips for connecting with millennials through financial education:
Keep it short
Long lectures and lengthy programs aren’t likely to capture short attention spans. Leave it quick and to the point.
Make it relevant
Don’t bombard your audiences with information that isn’t relevant to their current stage of life. Instead, target current needs, like building credit and starting savings accounts.
For the generation that grew up with cell phones, if something’s not available on mobile, it might as well not exist. Optimizing education programs for mobile devices means that millennials can learn anytime, anywhere – whether commuting on the subway or standing in line at the grocery store.
Millennials value authentic interactions and are more likely to spot disingenuous intentions and”salesy” tactics. Here’s the good news: they’re also more likely to act as brand ambassadors for companies and organizations they believe in. Be informative and helpful – not solicitous – and you’ll be building a customer for life.
Since millennials tend to be marketing-savvy, be careful with how much you attempt to push or upsell early on. Rather than attempting to sell to them outright, allow your informative content to earn their trust, and then target only the most relevant offerings to them.
Research shows the millennial generation to be bright, open, and eager to expand its financial capability. When done well, financial education programs can connect with millennials and build lasting relationships.
To learn more about using financial education as a method of content marketing, download our report Reaching Millennial Consumers: Using Financial Education as Content Marketing.