A shift in wealth is happening. 75% of the global workforce will be Millennials by 2025. They will have 3.39 trillion in spending power by 2018 according to the Federal Reserve. Marketing to Millennials is no longer a trend. It’s a must.
However, many financial institutions don’t fully understand what is at stake when you apply the same messaging and tone that you’re currently applying to Gen X and Baby Boomers to Millennials. Millennials are a distinct audience and they require customized, targeted marketing tactics and customer service.
At The Financial Brand Forum 2017 conference, Oregon Community Credit Union’s Deborah Mersino shared how her organization has combined research, digital channels, a unique brand tone and imagery into an overall strategy that spiked Millennial growth by 11%. It all started with building a marketing campaign specifically targeted at that demographic.