Management Perspective: Millennials are people too

By December 1, 2015Newsletter

Millions of characters of content have been published about how to go about attracting customers from the highly sought after Millennial segment. And, from a banking perspective it usually focuses on the necessity of being leading edge with online and, especially, mobile tools and access technology.

That’s all well and good, but I’d opine that maintaining convenient digital access is a worthy and necessary ongoing goal for any financial institution regardless of segment. But don’t let focusing too much on electronic delivery take your eye off the ball of the fundamentals that continue to attract prospects and maintain customers.

Millennials are people too. They’re young, sure, but still have needs common to the broader market. They want sound financial information and guidance – how to manage daily finances, buy a home (or not), use and manage debt, save for now and the future. They want to work with companies that demonstrate they are sensitive to their needs and provide the resources that help them make good financial decisions.

Much of what needs to be delivered still comes from human interaction. Which is why branch delivery still measures as important to this group. There is even increasing evidence that many are actively seeking ways to disengage from overusing technology.

So, certainly don’t ignore providing the next shiny object. But not at the expense of maintaining the service and personal touch that has served you well in the past and will so too in the future.

-Fred

Author 33dtrio33

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