KQ Article

As described by Nick Vaglio in the previous issue of The Deluxe Knowledge Quarterly, this segment comprises the largest generation in U.S. history, with a broadening set of unique financial needs that remain largely unmet. Smart marketers know that their messages must appeal to Millennials’ desire to connect in personal and authentic ways. But to thoroughly meet the needs of this customer segment, a true revolution in thought, practice and training will be required. Here are some tips for helping you connect with customers and employees from this new generation.

Attracting and retaining Millennials will require a significant change in perspective across your financial institution. Employees at all levels must be willing and able to look at their customers, their resources and their environments in entirely new ways.

New thinking

• Your customers and prospects expect to work with someone at their point of need. Why shouldn’t it be you?
• A website is not merely a billboard. Yours must be authentic and interactive.
• Social media must become an integral part of your offering.
• Never address your customers or members as part of a segment.
• Talk with consumers — never at them.

New practices

• Reach consumers when and where they want to be reached using text messaging, social media and Web searching.
• Respond to customer and member requests in a timely and effective manner by fluidly moving between technologies.
• Take full advantage of the numerous opportunities for feedback now available.
• Help front-line staff become teachers, with an ability to share information at the consumer’s point of need.

New training
All of this change will certainly be a team effort, and those responsible for educating employees will be among the primary agents of change.