In addition to noting some ground rules about Millennial marketing – like “avoid gimmicks and lengthy sales pitches” – this Millennial Marketing Showcase identifies some positive steps financial services brands are taking to reach this important audience.
Financial institutions are becoming more willing to creatively explore popular topics & platforms in their marketing strategies.
We looked at social media profiles of some top banks to see what brand followers find most engaging. Hopefully, seeing what they’re doing will help you identify your own brand’s sweet spot.
Discover has a killer acquisition mail strategy. It tests offers, formats, colors, charts, Johnson boxes, copy and hard-working vs. more creative approaches. You name it; Discover tests it.
It may be difficult to believe the world can accommodate three new consumer credit cards, but Chase, Merrill Lynch and Discover prove there’s room for additional payment products when they are different, better and delivering value to a specific market.
Financial services brands are really starting to “get” content marketing, and their content-driven initiatives are more diverse than you may expect. These recent examples not only stay “on-brand” and deepen the customer experience but also show just how much financial services content marketing has evolved.
Our “Millennial Marketing Showcase” features examples from Chase, Sun Trust, Citi, Discover, Navy Federal Credit Union, Capital One, Synchrony Bank and more. We think when you take a look at what others are doing to translate their Millennial know-how into creative marketing, you’ll discover ideas for making your own Millennial outreach more effective.
We are smitten with “Discover Freeze it” not only because it is a useful and welcomed credit card feature providing an enhanced sense of card security – easy, quick and controllable by cardholder – but also because the marketing and advertising is just so well done.
Last year, we observed that Super Bowl commercials tend to have either an epic or wacky approach. Both of those tactics are challenging for a financial services industry still working to regain consumer trust. And in 2014, the brands that ran ads found ways to thread the needle between those two camps by not pushing too hard in either direction. But, oh what a difference a year makes! In 2015, financial services brands had a glass of wacky juice on the way to the big game.
Both the timing and the attention given to mobile make sense for Discover. IBM has predicted a record mobile holiday shopping season in 2014, and Forbes, which says “mobile commerce will grow exponentially this holiday season,” expects shopping from smart phones and tablets to account for nearly one quarter of all online sales.