The millennial business owner market is growing, and many feel their banks only partially fulfill their needs. Unfortunately, many bank marketers still fall back on promoting mobile banking, checking and loans and stop there. But millennials need more than the standard banking services.
They need bankers who understand their business journey, who know what keeps them up at night and who find ways to make themselves and their institutions indispensable. Bankers who ask, listen and respond with innovative offerings will win longterm loyalty.
Banktastic conducted focus group conversations with some millennial small business owners from our National Millennial Advisory Board to hear about their banking relationships, their attitudes and what else they need to be successful.
Connections, mentoring, incubators and other innovative services are what millennial business owners want—this extends beyond the typical offerings of financial institutions. Services like these elevate brands and set them far ahead of competitors.
Read the rest of this article first published in full on The Financial Brand.
For more research results from this Banktastic study with millennial small business owners, read our article: Customer success managers: keys to millennial business owner loyalty.
If you'd like to talk to a bank marketing agency about making your bank, credit union or advisory firm more valuable to millennial small business owners, contact Martha Bartlett Piland, CFMP:
Photo credit: Javier Martinez.