Millennials at the Gate; But How Do You Get Them In?
As we continue our research into the Millennials psyche of investing their discretionary income and working with financial institutions for other services, we use cognitive sciences and neuropsychology to answer some basic questions. Will Millennials ever use traditional banks and credit union services the way Baby Boomers and the Silent Generation do? If we want to get them excited about doing so, what types of programs resonate with them? Knowing that mobile banking suits their lifestyle, do branches and face-to-face interactions have a place in investing, insurance, savings and daily financial transactions of this generation?
Find out what our primary research on Millennials has taught us is true and the 5 steps we suggest financial institutions need to do, to “think, see and feel", as Millennials do NOW. Implementing these steps today means institutions will garner Millennials' transaction, wealth management, insurance and investments assets tomorrow.
The following 5 steps are a part of a quality customer experience program that we have used for many years but it always helpful to revisit. Check out the eighth edition.
Financial Institutions Insurance and Investments; commentary, insights and research from Carmen Effron, an industry insider.