Banks Can Earn The Trust Of Millennials
The millennial generation seems to present a new set of challenges to banks and other financial-based institutions. This generation may appear distracted and studies show that millennials do not trust banks. Though these preconceived notions put banks at a disadvantage from the start, it isn’t completely insurmountable. Banks can still earn the trust of millennials if they can learn how they think.
As suggested in “How to talk to millennials about money,” posted by Sam Del Rowe on BusinessInsider.com, the millennial generation has endured two stock market crashes, a challenging economy, tight jobs market, and a housing market crash. These tribulations have created some preconceived notions that financial institutions are now struggling to change. Building trust and creating positive interactions is no small task when the cards are stacked against you; however, you can build bridges with the support of a customer relationship management (CRM) solution.
A CRM solution can help you collect information about your customers so that you can learn what drives them, what irks them, and how you can solve their financial challenges. You can capture all of your customer interactions with a CRM solution, including in person meetings, as well as online and social media conversations. As you capture this data, you can identify trends with the financial services they need and what could be holding them back from taking action. Millennials are a generation that wants immediate needs addressed and you can use CRM to provide online services so they can get information, check on accounts, or pose questions using the platforms they are most comfortable with and when they are so inclined to engage you – which could be outside of normal business hours.
You can also use CRM to release promotions and marketing campaigns that can keep your products and services in front of customers. You can also share information and educate customers about new or changing financial products or guide them with planning for future financial issues such as buying a house or planning for retirement.
Get to know your millennial customers better and earn their trust. Contact AKA Enterprise Solutions to learn how CRM can strengthen relationships with all of your customers, including the skeptical millennial generation.