Marketing Financial Services to Millennials @ http://www.researchmoz.us/marketing-financial-services-to-millennials-us-august-2013-report.html In some ways the Millennial market is the biggest challenge for marketers in financial services. For one thing, they don’t respond as well to traditional financial marketing strategies, so marketers need to work hard to develop campaigns that are fun and engaging. They are also the most fickle customers, so keeping them engaged in order to retain them as customers can be just as important.

1. Marketing Financial Services to Millennials - US - August 2013
In some ways the Millennial market is the biggest challenge for marketers in financial services. For one thing,
they don’t respond as well to traditional financial marketing strategies, so marketers need to work hard
to develop campaigns that are fun and engaging. They are also the most fickle customers, so keeping them
engaged in order to retain them as customers can be just as important.
table Of Content
scope And Themes
what You Need To Know
data Sources
consumer Survey Data
direct Marketing Creative
abbreviations And Terms
abbreviations
terms
executive Summary
the Socioeconomic Profile Of Millennials
figure 1: Household Income, By Younger Than 25s And 25-34s, 2000-11
current Economic Environment
marketing Strategies
the Millennial Consumer
interactions With Financial Services Companies
figure 2: Types Of Financial Products Owned, Millennials Vs. All Respondents, June 2013
figure 3: Types Of Financial Products Owned, Millennials By Age, June 2013
figure 4: Marketing Channels Noticed For Financial Services Products, Millennials Vs. All Respondents, June
2013
millennials And Financial Advice
millennials And Their Financial Futures
figure 5: Attitudes Toward Materialism, Trust In Institutions, Charity, Millennials And Overall, June 2013
figure 6: Household Situation, Millennials By Age, June 2013
figure 7: Household Situation, Millennials, By Gender And Age, June 2013
what We Think
issues And Insights
Marketing Financial Services to Millennials - US - August 2013

2. how To Best Reach Millennials
issues
insights
millennials Do Not Have Serious Money To Invest
issues
insights
what Are The Newest Trends In Finance That Could Interest A Millennial?
issues
insights
what Is The Underlying Truth About Millennials And Their Views About The Financial Sector?
issues
insights
trend Applications
inspire Trend: Boomerang Generation
what’s It About?
what We've Seen
market Application
inspire Trend: Moral Brands
what's It About?
what We've Seen
market Application
mintel Futures: Humans
what We've Seen
market Application
socioeconomic Profile Of Millennials
key Points
millennials Represent One Fourth Of The U.s. Population
figure 8: U.s. Population, By Generation, 2011
millennials Are Well-educated
figure 9: Educational Attainment, By Generation, 2011
figure 10: Educational Attainment, Millennials, By Gender, 2011
figure 11: Marital Status, By Generation, 2012
figure 12: Millennials Living At Home, By Demographics, 2012
millennials Are Mostly Renters
figure 13: Household Composition, Vehicles Owned, And Home Ownership, All Households And
Millennials, 2007 And 2011
lower Or Stagnant Incomes, Educational Costs Problematic
households
households 25-34 Years Of Age, 2007-11
Marketing Financial Services to Millennials - US - August 2013

3. figure 14: Income And Expenditures, By Total Households And Millennials, 2007 And 2011
millennials Especially Hard Hit By The Bursting Of The Housing Bubble
figure 15: Assets And Liabilities, By Total Households And Millennials, 2007 And 2011
their Incomes Are Stagnating
figure 16: Household Income, By
having So Much Debt Is Taking Its Toll On Older Millennials
figure 17: Attitudes Toward Debt, Millennials, By Age, April 2013
current Economic Environment
key Points
unemployment Rate Still Too High
figure 18: Unemployment And Underemployment Rates, January 2007-july 2013
figure 19: Unemployment Rate, By Education, March-july 2013
figure 20: Household Debt, By Housing And Non-housing, Q1 2004-q1 2013
figure 21: Student Loan Debt, Q1 2004-q1 2013
renting Is Not Cheap
figure 22: Median Asking Rent, 1995-q2 2013
figure 23: Median Asking Home Sales Price, 1995-q2 2013
figure 24: Median Sales Price Of Existing Homes, In Thousands, 2000-12
figure 25: Homeownership Rates, By Age, 1995-2010
leading Companies
key Points
credit Card Companies Performing Well Over Past Two Years
figure 26: Leading Commercial Banks, 2010 And 2012
revenue Growth Good For P&c Insurers
figure 27: Leading Property And Casualty Insurance Companies, 2010 And 2012
prudential And Metlife Made Strong Advances Since 2010
figure 28: Life And Health Insurance Companies, 2010 And 2012
innovations And Innovators
key Points
prudential Insurance
figure 29: Prudential “helping American Businesses Grow” Banner Ad, 2013
prudential’s Virtual Life Insurance
geico’s Career Fair On Facebook
you’re Only Human By The Gecko
figure 30: Geico You’re Only Human Book Cover, 2013
geico’s Lily, An Interactive Voice Assistant On Mobile App
progressive’s Partnership With Universal’s Despicable Me 2
Marketing Financial Services to Millennials - US - August 2013

4. progressive’s Flo Elected To Madison Avenue Advertising Walk Of Fame
figure 31: Progressive’s “flo” Brand Icon, 2013
allstate’s Give It Up For Good Campaign
figure 32: Allstate “give It Up For Good” Banner Ad, 2013
american Express Partners With League Of Legends Online Game
figure 33: American Express Prepaid Debit Card, 2013
marketing Strategies
key Points
overview Of The Brand Landscape
figure 34: Fidelity Online Ad, 2013
figure 35: Pnc Bank Online Ad, 2013
figure 36: Regions Bank Online Ad, 2013
figure 37: Citi Simplicity Card Online Ad, 2013
figure 38: American Family Online Ad, 2012
figure 39: Prudential Online Ad, 2013
figure 40: Progressive Corporate Branding Print Ad, Year
figure 41: Progressive Online Ad, 2013
figure 42: Geico Gecko 3-d Online Ad For Wired, 2013
tv Commercials
prudential’s Living Longer Stickers
figure 43: Prudential Stickers Tv Commercial, 2013
allstate’s Good Life Anthem
figure 44: Allstate’s Good Life Anthem Tv Commercial, 2013
e*trade’s Baby Commercial
figure 45: E*trade Baby Tv Commercial, 2013
millennials And The Economy
key Points
millennials Are The Most Optimistic
figure 46: Attitudes About Present Financial Situation Vs. Year Previous, By Age, November 2012
figure 47: Optimism That Financial Situation Will Improve In Next 12 Months, By Age, November 2012
attitudes About Money
figure 48: Attitudes Toward Personal Finance (any Agree), November 2012
interactions With Financial Services Companies
key Points
digital Ownership Strong Among Millennials
figure 49: Ownership Of Digital Products, By Generation, June 2012
older Millennials More Likely To Own Tablets, Females Smartphones
Marketing Financial Services to Millennials - US - August 2013

5. figure 50: Ownership Of Digital Products, Millennials, By Gender And Age, June 2013
figure 51: Ownership Of Digital Products, Millennials, By Age And Gender, June 2013
social Media Is The Key
figure 52: Interest In Following Financial Institutions On Facebook, By Generation, June 2013
millennials Still On The Fence About Financial Products
figure 53: Types Of Financial Products Owned, By Generation, June 2013
figure 54: Types Of Financial Products Owned, Millennials, By Age, June 2013
tv, Email, Social Media Good Marketing Channels
figure 55: Marketing Channels Noticed For Financial Services Advertisements, By Generation, June 2013
one In Three Millennials Follow Up Due To Ads Seen
figure 56: Communication With Financial Providers After Seeing An Ad, By Generation, June 2013
millennials The Most Likely To Click On Websites To Learn More
figure 57: Channels Used To Seek Further Information On Financial Products, By Generation, June 2013
millennials Drawn To Incentives To Open Accounts
figure 58: Attitudes About Bank Branches And Financial Services Company Communications, By
Generation, June 2013
communication Via Email Is Best
figure 59: Attitudes About Communication With Primary Bank, Millennials, June 2013
communications With Banks
figure 60: Attitudes About Communication With Primary Bank, By Generation, June 2013
communications With Credit Unions
figure 61: Attitudes About Communication With Primary Credit Union, By Generation, June 2013
communications With Primary Investment Company
figure 62: Attitudes About Communication With Primary Investment Company, By Generation, June 2013
communications With Credit Card Providers
figure 63: Attitudes About Communication With Primary Credit Card Provider, By Generation, June 2013
communications From Primary Insurance Company
figure 64: Attitudes About Communication With Primary Insurance Company, By Generation, June 2013
many Find Ads On Social Media To Be Annoying
figure 65: Attitudes Toward Financial Services Ads, By Generation, June 2013
only A Very Small Minority Buy Products From Call Centers
figure 66: Incidence Of Purchase From Call Center Of Primary Financial Providers, By Generation, June
2013
millennials And Financial Advice
key Points
only Half Of Millennials Are In The Market For Financial Advice
figure 67: Interest In Receiving Financial Advice, By Generation, June 2013
figure 68: Interest In Receiving Financial Advice, Millennials By Gender And Age, June 2013
figure 69: Interest In Receiving Financial Advice, Millennials By Age, June 2013
family, Friends Looked To First For Advice, Recommendations
figure 70: Interest In Types Of Financial Advisers, By Generation, June 2013
Marketing Financial Services to Millennials - US - August 2013

6. interest In Financial Advice Strongest Among 26-35s
figure 71: Interest In Types Of Financial Advisers, Millennials, By Gender And Age, June 2013
figure 72: Interest In Types Of Financial Advisers, Millennials By Gender And Age, June 2013
face To Face Best For Communications With Adviser
figure 73: Preference For Communication Method With Financial Adviser, By Generation, June 2013
figure 74: Preference For Communication Method With Financial Adviser, Millennials By Gender And Age,
June 2013
figure 75: Preference For Communication Method With Financial Adviser, Millennials By Age And Gender,
June 2013
researching Financial Products Is Important To Millennials
figure 76: Attitudes About Financial Communications And Advertising, By Generation, June 2013
figure 77: Attitudes About Financial Communication And Advertising, Millennials By Gender And Age, June
2013
figure 78: Attitudes About Financial Communication And Advertising, Millennials By Age And Gender, June
2013
millennials And Their Finances
key Points
thoughts About The Future Are Not Positive
figure 79: Attitudes Toward Financial Future And Financial Institutions, By Gender And Age Of Millennials,
June 2013
figure 80: Attitudes Toward Financial Future And Financial Institutions, By Age By Gender Of Millennials,
June 2013
debt And Savings Are Key Themes
figure 81: Attitudes Toward Household Financial Situation, By Generation, June 2013
figure 82: Attitudes Toward Financial Situation, Millennials By Gender And Age, June 2013
figure 83: Attitudes Toward Household Financial Situation, Millennials By Age And Gender, June 2013
austerity Has Become A Lifestyle
figure 84: Attitudes Toward Materialism, Trust In Institutions, Charity, By Millennials, June 2013
figure 85: Attitudes Toward Materialism, Trust In Institutions, Charity, By Generations, June 2013
figure 86: Attitudes Toward Materialism, Trust In Institutions, Charity, Millennials By Gender And Age, June
2013
figure 87: Attitudes Toward Materialism, Trust In Institutions, Charity, Millennials By Gender And Age, June
2013
millennials And Their Living Situation
key Points
their Living Situations Are Diverse
figure 88: Living Situation Of Millennials, June 2013
figure 89: Living Situation Of Millennials, June 2013
figure 90: Living Situation, Millennials, By Gender And Age, June 2013
Marketing Financial Services to Millennials - US - August 2013

7. figure 91: Living Situation, Millennials By Age And Gender, June 2013
millennials Struggle For The Right Employment Opportunities
figure 92: Employment Situation/childrearing, Millennials By Gender, Age, June 2013
figure 93: Employment Situation/childrearing, Millennials By Age And Gender, June 2013
figure 94: Ability To Find Full-time Work, Millennials By Gender, Age, June 2013
figure 95: Ability To Find Full-time Work, Millennials By Gender And Age, June 2013
figure 96: Underemployment Situation, By Gender And Age Of Millennials, June 2013
figure 97: Underemployment Situation, Millennials By Age And Gender, June 2013
appendix – Trade Associations
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Marketing Financial Services to Millennials - US - August 2013