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As the digital world continues to grow and evolve, the way consumers interact with marketing efforts also changes. It’s necessary that banks and credit unions continuously adapt their marketing strategies—not only by channel but also by generation. Two of the most valuable and active generations today are Millennials and Gen Z. While they are both digitally fluent, there are significant differences in values, behavior, and expectations. Reaching and resonating with these groups is critical to the future of your institution.

Millennials: Key Points

Born between 1981-1996, Millennials are currently in their late 20s to early 40s. They are at a stage of life where buying homes, managing debt, and starting families are major priorities. While they are digitally inclined, they differ from Gen Z in their preferred platforms, content style, and tone.

• Preferred Platforms: Email, Facebook, YouTube, Instagram
• Content Style: Informative, educational, in-depth
• Tone: Professional, but casual and transparent

Millennials value a brand’s transparency and honesty, and they are quick to see through inauthentic messaging. They are also more likely to support brands that align with their core values. Spending a significant amount of time online, millennials are more likely to respond to digital approaches than traditional ones.

To reach Millennials effectively, use convenient and educational content such as blogs, financial planning tools, and webinars. Emphasize your institution’s reputation and the value you provide to account holders and tailor financial advice to their goals. With more student debt than any previous generation, it’s important to lead and motivate with financial empowerment tools and content such as savings calculators, credit score tracking, and more.

Gen Z: Key Points

Born between 1997-2012, Gen Z currently includes teenagers to those in their mid-20s. At this stage of life, they are focused on entering college or the workforce and are working toward saving money and becoming financially independent. Digital marketing and social media are the most effective ways to reach Gen Z, who grew up immersed in technology.

• Preferred Platforms: Instagram, TikTok, YouTube, Snapchat
• Content Style: quick, visual, useful, entertaining
• Tone: authentic, relatable, meme- and pop culture-savvy

Some of the core values Gen Z looks for in marketing are authenticity, social responsibility, and personalization. Like Millennials, Gen Z values authentic brands—but they are also more skeptical of traditional advertising and want to see the human side of the brand. They expect brands to be socially responsible and will hold them accountable if not.

Gen Z also requires brands to be responsive and engaging on social media, preferring interactive content. One important note is that Gen Z’s brand loyalty is typically lower than that of other generations. If the user experience or brand purpose feels lacking, they will quickly seek out alternatives. In contrast, Millennials are usually more loyal, especially to brands that provide long-term value.

Visually appealing content is always key, but it’s especially important for Gen Z, a visually driven generation that responds well to personalized, short-form video content. They appreciate when content is fun and relatable, references current trends, and uses humor to maintain a lighthearted, authentic tone.

Another critical factor is mobile optimization. They have grown up surrounded by mobile technology and having a slow or clunky app/website experience results in frustration and a loss of trust.

Personalization

Personalizing your marketing strategy is essential for all generations, but Millennials and Gen Z expect it in different ways:

• Millennials appreciate personalized financial advice with recommendations of products that are based on their specific goals.
• Gen Z wants personalized content that is relevant in the moment. Apps that adapt to them, fun to use financial tools, and conversational messaging that doesn’t feel like a sales pitch.

Similarities/Differences

Although Millennials and Gen Z are consecutive generations, there are both similarities and key differences in how they respond to marketing. Understanding these nuances helps your institution better reach, engage, and build loyalty with each audience.

• Similarities
• Digital-first approach
• Expect personalization
• Value financial education tools
• Appreciate transparency
• Influenced by peer recommendations and testimonials
• Differences
• Life stage and financial focus
• Platform preferences
• Content format (long-form vs. short-form)
• Tone of messaging
• Brand loyalty levels

Final Thoughts

With Millennials and Gen Z becoming the dominant workforce and consumer demographic, it’s more important than ever for banks and credit unions to adapt to the changing landscape. The institutions that earn their attention and loyalty will be those that grow with them, their values, and their marketing preferences.

The key? Personalized, authentic content delivered through the right channels, in a way that meets each generation where they are in life.