Millennials are people born between 1977 and 1995. (It’s really important to note that you can be born within three years on either side of the beginning or ending of a generation and have all the characteristics of the generation before or after.) Each generation has a mood or tone, and a value system, and it’s worth thinking about these to serve these groups more effectively.
Why do we need to be thinking about Millennials right now?
Most Millennials are in their 20s and 30s. Some are at the age where they are in senior positions in business. They’ve worked, have life experience, and are now in a position to make decisions, financial and otherwise, that affect the world.
The youngest Millennials have made the transition from young adult to adult. They are making decisions that will affect their financial futures.
Since each generation has different experiences and expectations, it’s worth knowing how all these people tick. If you know what they want, you’ll be able to give it to them better.
What Millennials Want and How Your Financial Website Can Deliver it to Them
Describing a generation is a massive generalization, but this is a generalization that is useful. Not everyone of this generation will fit the same description, but it’s a useful guide when it comes to things to consider for this age group.
Generally-speaking, then, Millennials are unlike previous generations. The world changes with each generation and if you’re aware of this you can adapt.
Here’s what makes Millennials tick.
– Millennials value flexibility more than previous generations.
They have grown up during the the birth of the information age. They understand that a Wi-Fi connection means that they can work and do business from anywhere; and they demand that right.
They take part in recreation, shopping, socializing, and working, but you can add “on-the-go” to all of those words. If they can’t do it with technology, they may not bother.
More users will expect to be able to interact with your business online at any time as devices evolve, internet coverage grows, and connections become faster.
Mobile use has been growing steadily since 2009. Globally, more people searched through Google on mobile devices than on desktop computers back in October 2016.
Your Millennial audience is looking for services like yours via their mobile devices. You need to make sure that a) they find you, and that b) your site looks good on any mobile device.
Unfortunately, your potential customer is not likey to be forgiving about your website design, especially if he or she is a Millennial. They will just expect it to work. Fast. Now. On whatever device they are using.
– Millennials want it now, whatever it is.
They don’t care how long you spent coding. They just want it to work.
According to CNN, you’ve got 2.4 seconds for your page to load before people start clicking away. By 2.5 seconds, Millennials are wondering if there’s something wrong with the website or their device.
If someone has found you and the site loads within 2 seconds, you then need to make sure that it is attractive and usable on the mobile device in question.
The cues that a visitor gets from this interaction with your business can inform their impression of your firm, especially if it is the first contact they have with your business.
– Millennials are less interested in meeting people in person than other generations.
When communicating with Millennials, they will be less likely to want to “come into the office.” Expect text messages, instant messaging, or emails, and voice or video calls.
When designing your financial website, putting your business address at the bottom of the site and expecting people to turn up at your business is not going to get as many people contacting you as including a range of contact details, including telephone, email, a contact form, social media, and instant messaging.
Whichever communication media your target audience is using, offer these too.
– They value knowledge and experiences
Doesn’t everyone? Well, yes, but what this means for Millennials is that they are less likely to be impressed by qualifications, certifications, or awards, as opposed to experience or testimonials.
This means that your website provides you with a good opportunity for sharing your knowledge on relevant subjects. Guest blogging and other techniques can also help you establish yourself and your business as a trusted thought leader.
– They Love to Learn – Their Own Way
Millennials are more likely than other generations to seek a self-service solution to a problem.
A Millennial’s first stop may well be a website, where they will use information to diagnose their problem and find a solution they can employ themselves. When they need professional help, they are also likely to use the web to find the best-reviewed businesses or companies recommended by their peers.
What does this mean for your financial website? You want to consider not being so quick to offer a consultation or a package of solutions to a particular problem. Yes, you can offer these things, but also provide helpful advice that will inform your visitors and help them to diagnose and solve their own problems.
You can achieve this through an FAQ or knowledge base. Helpful blog posts on key questions asked by your customers will also provide value for people looking for those answers.
These posts can also build your brand, develop trust, and help establish you as a thought leader.
– A Millennial’s work-life balance has tipped towards life
The Millennial generation works to live. Friends and family and lifestyle are at the forefront. Hobbies and pastimes have great importance and value.
This is not to say that Millennials don’t work. They do. But their businesses become more a part of their lives and their identity than for other generations, who may separate work and play.
Millennials prefer to use businesses and brands that align with their values and say something about the kind of people they are.
Consider the values of your target demographic and psychographic. Make sure that they know where your business intersects with their ideals. You might be providing stability, flexibility, simplicity, or transparency. Make sure that your branding reflects your core values and that you tell the world so that your kind of people will join you.
The more information you have about your customers, the better you can serve them. We design high-quality, high-performing financial websites and we know how to serve Millennials. We also understand the value of maintaining a website that makes your potential customers feel as though you were expecting them.
Whether your website represents the first contact with a potential customer or it is sealing the deal after you’ve met, make sure that it’s working it’s best.
We know finance, we know website design, and we know Millennials. Get in touch with us today and we’ll make it easy for you to attract new clients and to serve your existing clients better.
Contact Dan Stark at www.altastreet.com to set up a call to find out if we figure out if we can have the impact we both want on your business.