Yes, everybody knows that millennials have a thing for mobile devices, multitasking, and social media. And it is no secret that when we say “banking,” you probably aren’t saying “extremely successful social media campaigns.” Well put that misperception to bed, because many banks are doing it, and doing it very well.
According to a recent study by NewsCred (via AdWeek) entitled “The Trust Transaction: How Content Can Transform the Way Banks Connect With People,” 1/3 of people don’t trust their own bank, but half tend to trust them more when banks offer helpful content. As for millennials (18 to 24 year olds are the most socially engaged demographic), 66% said they trust a bank more when useful, helpful content is offered. What’s more intriguing is that this content doesn’t have to be strictly financial-related content. Millennials are the demographic most interested in reading content from their banks regarding travel, careers, local area events, music, technology, health, recipes, etc. The list goes on, and some banks have already caught on.
Our banking team did a little study of our own. We wanted to know who are these banks that are doing it so well? You might be surprised to see it isn’t always the big banks connecting with consumers via engaging content delivered through social media channels.