Long gone is the myth that the millennial audience are more interested in smashed avocado than saving.
More than 4/5 millennials budget, in comparison with 2/3 of previous generations; millennials are 30% more likely than their parents to save regularly; and 72% of millennials research a product before buying it. For 64% of affluent millennials, retirement is the number one reason to save.
This behaviour is perhaps explained by the financial uncertainty that millennials face. The Global Financial Crisis of 2007-08 left more than 15% of people in their 20s without a job, which means that many missed out on years of compound interest. In the meantime, the cost of living has skyrocketed—from student loans, which now total $1.56 trillion in the US, to housing, which, in Australia, is 39% higher than it was in the 1980s.
Given millennials are intensely interested in all things finance—and are also the biggest generation, having surpassed baby boomers in size in 2019—they should be on the radar of every financial services content marketer.
“ Given millennials are intensely interested in all things finance—and are also the biggest generation—they should be on the radar of every financial services content marketer. ”
One brand that has put millennials front and centre of its finance content marketing strategy is Invstr. This UK-based app, founded by Kerim Derhalli, who spent 30 years as head of equity trading at Deutsche Bank, aims to democratise investment, by putting education, resources and opportunities at the user’s fingertips—in an accessible, engaging, confidence-building format. Here, we take a look at how Invstr is appealing to millennials’ interests and winning their love.
The millennial audience want straight-forward and jargon-free finance education
At the heart of Invstr’s finance content marketing strategy is millennials’ hunger for financial knowledge. 74% of millennials want to learn more about investing, while 76% are interested in receiving professional financial advice in the future.
Enter Invstr Academy, a course for novice investors that’s written by experts, yet gloriously jargon-free. Over ten modules the user learns the basics—from how the economy works, to how to develop a long-term investment strategy, and how to make the most of the CEO’s top tips. Along the way, a gamified element keeps the user engaged, through quizzes and trophies.
The millennial audience want you to keep it short and succinct
Key to developing financial knowledge is regular engagement. Affluent millennials who engage with finance content daily are two times as likely to feel knowledgeable about finance, and those who feel knowledgeable are five times as likely to feel confident about making financial decisions. Yet, just 37% of affluent millennials feel knowledgeable.
Breaking down this barrier is Invstr’s Crunch, a micro-news service that promotes daily engagement by rounding up every day’s big stories in one hit—available as a four-minute podcast or as three, three-minute blog posts. The tone is warm and conversational, and the content is delivered clearly and succinctly, ensuring its accessibility to people of all levels of financial literacy.
The millennial audience want fun, interactive finance content
Millennials love fun, interactive finance content, with 61% seeing a robo-advisor as a convenient way to invest, and 74% seeing the usefulness of a robo-advisor that could recommend how to allocate extra money.
Among Invstr’s finance content offerings is Fantasy Finance, an educational game that combines fantasy sports with the stock market. Players compete against one another in the management of a virtual $1 million portfolio—in the process learning how to trade, strategise and maximise profits. There’s an Invstr Fantasy League leaderboard, as well as opportunities to win points, badges, rewards, prizes and become a Fantasy Finance Guru.
Could your finance content marketing strategy be doing more to win over the millennial generation? We have just the content strategy for you, get in touch.