When targeting Millennials, mobile banking isn’t the be-all, end-all for financial institutions (FIs). Millennials expect so much more from the institutions they bank with. Beyond connectivity, they expect convenience, customization and, perhaps most importantly, authenticity.
In a recent webinar the TMG team attended, Jeetender Sehdev, author of “The Kim Kardashian Principle,” explored how organizations that exude authenticity and create their own rules successfully crack the Millennial market. The key, Sehdev says, is to approach Millennials with six new rules of marketing.
- Surprise – Bored with brands saying all the right things all the time, Millennials look for organizations that stand out from the crowd. Millennials want organizations that own their uniqueness, amp it up and, surprisingly, don’t disappear into the crowd.
- Expose – Straight-talking organizations that overexpose themselves rather than over-editing tend to win with Millennials. FIs should be transparent, allowing their audiences to see the how, what and why of what they do.
- Lead – Establishing a loyal following starts by embracing who you are as an FI. Millennials pride themselves on marching to their own drum beats and respond to organizations that do the same.
- Flaws – To Millennials, perfection is passé. Raw, honest conversation has power – a power that, when used strategically, can demonstrate uniqueness.
- Intimate – Creating an intimate connection with consumers involves showing them that what’s on the outside matches what’s on the inside. For FIs, this means truly living the mission, vision and values they set forth as guiding principles.
- Execute – The rubber hits the road in this stage. In everything they do, organizations should be true to themselves and what they stand for.
Together, Sehdev’s six rules make up S.E.L.F.I.E. With this S.E.L.F.I.E approach, FIs can become their own champions – a tactic that may just win them points with Millennials.