How Banks Should Market to Zillennials

When it comes to bank marketing, the potential audience of customers is defined by differences that are categorized by their age. The money management message that is delivered by the bank depends on the audience targeted by the bank including groups such as Boomers, Gen X, Gen Y, Gen Z, and Millennials.

The target groups that are being exposed to efforts in marketing banks now include a focus on smaller sub-segments within the available audience and this includes Zillenials.Let’s explore the wants and needs of Zillennials as it relates to banking and their desire to enjoy bank security that protects their money.

What is a Zillennial?

The definition of a Zillennial is a person who is part of a group born between 1992 and 2002. This demographic is close age-wise to a couple of other groups. However, they have been spotlighted by psychologists because of the specific behaviors they have formed due to being on the cusp of a couple of different groups. We explore those behaviors in relation to marketing banks in the sections below.

Zillennials Care About Money Management More

One of the interests that the Zillennials group cares about is money management. This demographic is focused on their savings, investments and the wish to build their overall wealth or passive income. This desire on their part includes the need to understand, in general, how money and banking works. The knowledge they gain helps them to be better educated which means they want to work with people who are also educated about the subject.

Topics they are interested in, which can be addressed in bank marketing materials, include:

• How to best manage their money
• Easy ways to build credit
• How to manage and eliminate their debt

Zillennials Care About Privacy & Bank Security When it Comes to Banking

The topic of privacy has been an area of interest for younger generations for a little while but Zillennials are very concerned with how their privacy is handled in relation to their banking. This concern comes from the fact that they have seen a number of data breaches during their lifetime. They are also worried about bank security since they are heavy users of digital apps and wallets which makes them open to a greater chance for digital infiltration.

Ready to create a bank marketing plan to reach an audience of Zillennials? If so, contact us today.

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