Even just a few short years ago it was the Baby Boomers who were the greatest focus of online marketing strategies, but in recent days, Millennials have taken over as the largest group of consumers to market to. This being said, many are just now reaching an age in their professional lives when financial matters are taking on greater weight. This is why anyone working in the financial services industry understands that this is the upcoming group to market to.
They are, in fact, the largest generation to date and anyone who has earned a masters in finance online understands that this is a group that demands that ‘something extra’ from brands seeking their business. Here is what the financial sector needs to know about online marketing to Millennials.
Millennials Seek Value of a Different Type
In almost every corner of the financial world, value is important, but Millennials seek value of another type. Yes, they want a good deal, a great ROI, but even more than that they want to know that what they are investing in has value in life. They will invest heavily in ‘green’ businesses and will place their money in banks that invest part of their profits in charitable endeavors.
Mobile Apps Are a Must
If you have earned an online masters degree in finance, you know that the Internet is huge with Millennials, so this is where you should focus your efforts in marketing. Mobile apps that reach out to this age bracket can keep them informed of market activity whereas older consumers still check stocks and other investment vehicles through more traditional routes.
Older consumers will check market prices on the NASDAQ, for example, whereas Millennials want those figures sent to their mobile phones via apps that keep them informed. Everything happens in the background so they can go about their business rather than reading through list after list. If you want to market to a Millennial, make it effortless for them once the initial settings on the app have been dealt with.
Understand the Relationship between Millennials and Mobile Technology
Going one step further, when marketing any kind of financial product whatsoever, you need to understand this symbiotic relationship between mobile technology and Millennials. It is said that Millennials are influenced greatly by mobile technology (i.e. apps mentioned above) and those apps are developed with the Millennial experience in mind.
If you want to successfully market to Millennials it is imperative that you understand just how important it is to ‘influence’ their financial decisions through mobile media. Few even own a desktop PC and if they use one in any way, it is usually on the job where they wouldn’t be checking out financial products for personal use. From mobile-friendly websites to mobile apps and text-marketing strategies, whatever you wish to accomplish in the Millennial market, you must have mobile technology at its core. Once you understand that, you can build a huge following and grow your financial services accordingly. Don’t hope to gain a Millennial audience if you aren’t mobile-minded. That’s a fact.