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 education efforts not only benefit consumers, but they also make strategic marketing sense. See what top brands are doing on a scale from low-key (conversation) to rally towel (“concert” tour)!
Cardless ATMs are among those “banking innovations” that have been long-touted, but so far failed to break though. However, with Bank of America, Chase and Wells Fargo all making strong pushes to adopt this, 2017 could be the year of change.
Informed by consumer survey insights that show cash rewards are likely to influence spending, Wells Fargo has introduced a new cash back Visa credit card with unlimited 1.5% cash rewards.
The new Wells Fargo credit card rewards program gives cardholders access to new rewards, perks and functionality. Some of the enhancements clearly will appeal to Millennials – a segment most banks are working hard to attract and satisfy.
Apple Pay, and other apps like it, could eventually signal a change in how consumers think about and use payment products. And to promote this cutting edge, possibly game changing way to pay, Amex decides to roll out old ad clips. Why evoke these iconic images for such a new piece of technology?
The Financial Services Team at Media Logic publishes dozens of financial service marketing articles each year, paying close attention to what resonates with clients and other readers. It’s always interesting to note what’s most popular: it reflects some of the year’s most interesting trends and developments along with long-held priorities for the industry. Here’s this year’s list, our “Top 10” financial services marketing posts for 2014.
If you want to talk about timeliness and relevance in bank marketing, you’re going to have to include an anecdote about how Wells Fargo organized pop-up stores in San Francisco to promote the launch of Apple Pay.
It’s possible that Wells Fargo did execute a coordinated promotion strategy, and we just can’t find samples of it. But it’s also possible that the bank overlooked the most important part of a promotion: making sure to promote it. Even the posts that we did discover don’t fully explain the prizes.