Your SlideShare is downloading. ×
0
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
The Millennial Opportunity: Marketing Financial Services to the Digital Generation
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

The Millennial Opportunity: Marketing Financial Services to the Digital Generation

1,056

Published on

This presentation is based on research from our recent whitepaper – The Millennial Opportunity: Marketing Financial Services to the Digital Generation. The whitepaper focuses on the Millennial …

This presentation is based on research from our recent whitepaper – The Millennial Opportunity: Marketing Financial Services to the Digital Generation. The whitepaper focuses on the Millennial Generation - or Gen Y - and how financial firms communicates to and about members of this generation.

Inside, we take a high-level look at the key findings from the whitepaper and three case studies from industry leading firms. The slide deck concludes with a set of recommendations for helping your firm market to Gen Y.

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
1,056
On Slideshare
0
From Embeds
0
Number of Embeds
4
Actions
Shares
0
Downloads
24
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. THE MILLENNIAL OPPORTUNITY MARKETING FINANCIAL SERVICES TO THE DIGITAL GENERATION ALEX FILIACI SENIOR RESEARCH ASSOCIATE, BROKER MONITOR AND E-MONITOR REPORT PUBLISHED: MAY 2013 COPYRIGHT 2013 CORPORATE INSIGHT, INC.
  • 2. ABOUT CORPORATE INSIGHT Corporate Insight provides competitive intelligence and user experience research to the nation’s leading financial institutions. For over 20 years, the firm has tracked technological developments in the financial services industry, identifying best practices in online banking and investing, online insurance, mobile finance, active trading platforms, social media and other emerging areas. There are no assumptions in Corporate Insight’s work – we use live accounts at all of the firms we research, providing our clients with unparalleled, unbiased intelligence on the competition. Media Inquiries Corporate Insight welcomes the opportunity to speak with the media. If you are interested in citing our research or would like to schedule an interview with our analysts, please contact Intermarket Communications at 212-888-6115 or corporateinsight@intermarket.com. Connect With Us BEN POUSTY Senior Research Associate Broker Monitor & E-Monitor ABOUT US ALEX FILIACI Marketing Manager 646-751-6961 646-454-2662 afiliaci@corporateinsight.com bpousty@corporateinsight.com 2
  • 3. TABLE OF CONTENTS  Introduction  Case Studies o MetLife: Profiling Gen Y o MFS: Surveys and Strategies o The Hartford: Millennials in the Workplace TABLE OF CONTENTS  Key Takeaways for Financial Services Firms  About the Author 3
  • 4. INTRODUCTION INTRODUCTION 4
  • 5. BACKGROUND INTRODUCTION This presentation is based on research from our recent whitepaper – The Millennial Opportunity: Marketing Financial Services to the Digital Generation. The whitepaper focuses on the Millennial Generation - or Gen Y - and how financial firms communicates to and about members of this generation. Inside, we take a high-level look at the key findings from the whitepaper and three case studies from industry leading firms. The slide deck concludes with a set of recommendations for helping your firm market to Gen Y. 5
  • 6. CASE STUDIES CASE STUDIES 6
  • 7. METLIFE: PROFILING GEN Y  Familiarize advisors with potential clients through demographic profiles  Provides concise info that help advisors understand and connect with Gen Y  Six-page profile on Gen Y drawn from research articles o Statistics MetLife Demographic Profile o Charts and graphics o Qualitative descriptions CASE STUDIES  Timeline of significant historic, social, and cultural events that shaped the generation Gen Y Timeline 7
  • 8. MFS: SURVEYS AND STRATEGIES  Uses surveys and interview data to build advisor sales resources: o Investing Sentiment Survey o Getting the Digital Generation to “Like” the Market E-Book  Detailed e-book offers: o Statistics on Gen X and Y o Videos and Stories of young investors telling their stories MFS Video o Actionable advice about presenting investing options in an empathetic and effective manner CASE STUDIES  MFS is ahead of the marketplace by repeatedly promoting the idea that younger investors are the future of an advisor’s practice Statistics from MFS E-Book 8
  • 9. THE HARTFORD: MILLENNIALS IN THE WORKPLACE  Warns advisors of “Generational Mashup” and reminds employers and marketers to simultaneously appeal to the oldest and youngest targets  My Tomorrow page is dedicated to generational trends. Page contains: o Tips for both employees and employers o Infographic about employment benefits The Hartford’s Benefits Infographic o Statistics and insights on Millennials CASE STUDIES  The Hartford attempts to speak in the parlance of the generation, using phrases like “YOLO” and “Let’s get real” to connect with Millennials The Hartford’s Advice Column 9
  • 10. KEY TAKEAWAYS KEY TAKEAWAYS FOR FINANCIAL SERVICES FIRMS 10
  • 11. MFS STANDS OUT  MFS is ahead of the industry by insisting that advisors think of younger generations as a target market and providing many tools to help advisors better communicate with Gen Y. KEY TAKEAWAYS  MetLife provides detailed demographic profiles on Gen Y and while some statements may seem patronizing, it is important for the industry to refrain from creating stereotypes.  The Hartford’s attempt to communicate with the Millennials by speaking in the parlance of the generation could seem out of touch and be completely dismissed by the older audiences. 11
  • 12. FUTURE OF MILLENNIAL MARKETING Gen Y is not yet a direct target segment for financial services and the industry still lacks a general understanding and strategy on making connections with them.  Gen Y has an unique identity and history which makes them very different from any generation before them and their complex relationship with financial services requires the industry to find new ways to reach out to this future generation.  It is important to approach Millennial Marketing in ways similar to MFS: acknowledging that the younger generations will be the future and is a target that need not to be ignored but taken seriously. KEY TAKEAWAYS  12
  • 13. THREE TIPS FOR FINANCIAL SERVICES FIRMS Avoid negative characterizations that could lead advisors to pre-judge Gen Y clients. #2 Stats are great, but providing actionable strategies for advisors marketing to Millennials is better. #3 Start marketing to Gen Y now. Establishing a positive relationship with Millennials now should pay dividends over time. KEY TAKEAWAYS #1 13
  • 14. ABOUT THE AUTHOR ALEX FILIACI SENIOR RESEARCH ASSOCIATE BROKER MONITOR AND E-MONITOR Alex Filiaci is a Senior Research Associate for Corporate Insight’s Broker Monitor and e-Monitor research services. He has conducted extensive research on the brokerage industry, examining the online platforms and technological innovations leading brokerages offer prospective investors and clients. Alex has been tracking the tactics and online resources financial services firms use to market to Millennials since the start of 2013 and this whitepaper is an outgrowth of his ongoing research on the topic. Alex graduated from Binghamton University in 2010 and has been a member of the Corporate Insight team since 2011. ABOUT THE AUTHOR CONTACT ALEX: T: 646-751-6961 E: afiliaci@corporateinsight.com CONNECT WITH CI: Broker Monitor and E-Monitor are service marks of Corporate Insight, Inc.; all rights reserved. 14

×