Article published at FinanceFeeds
Marketing in any industry is hard and the finance sector has a particularly tough time due to tight regulations. Marketing to millennials in the finance sector adds another layer of complexity, because this generation has a lot going on. Not only are millennials dubbed the pickiest generation but they also have a digital-first orientation and were hit hard by the financial crisis which left them shouldering poor job prospects and heavy debt.
This generation has the most debt which has increased by 22% in just five years and currently stands at around $1 trillion. Consequently, 45% of millennials are wary of traditional financial services. So how do you go about marketing to a generation that’s at odds with the finance sector but still perceives economic security as one of the main milestones to becoming an adult? The solution lies in recognising and acting on millennials’ financial needs. Here’s three ways to tap into the millennial mindset and acquire this generation as customers.