Marketing Resource Centers, Inc.

Social Media is changing many things, including who financial institutions are gearing their education towards. They are no longer promoting financial education to children and adolescents through their parents. Instead, more financial institutions are marketing directly to their target audience. Gen Z and Millennials are more interested in finances at a younger age than their parents and grandparents, and this will affect how they manage their own children's financial affairs. For example, the marketing of 529 education savings plans is evolving so that banks and other providers are going to find themselves marketing to children. Parents and relatives can start and contribute to these accounts to fund children's college education. Also, new rules will permit up to $35,000 in funds not used for education to be rolled over, without tax penalty, into Roth individual retirement accounts. Consequently, the market is changing to meet these shifts. In Canada, CIBC offers "Smart Start," a saving and investment package that is free until the holder turns 25. It's not just a digital account. It comes with access to new retail spaces that features interactive and immersive financial experiences. Fidelity has relaunched its Fidelity Youth program, incorporating the Roblox online game world to teach financial skills. Also, Greenlight, initially solely a competitor to traditional banks and credit unions, is now offering integrations with those institutions to enable them to offer its form of family banking. Consider following me for more bank marketing content. #bankmarketing #communitybankmarketing #financialeducation #genzbanking #millennialbanking

Last chance to register for our social media webinar! Don't miss the opportunity to improve your social media marketing with tips from leading experts in the field. Click the link below to register for our free webinar. https://lnkd.in/eaTmuwfp #bankmarketing #communitybankmarketing #bmc4banks #socialmediawebinar #socialmediamarketing

Ah, the whacky, wonderful, and often confusing world of social media marketing! What’s up for discussion this time? The terms “engagement” and “following.” While they are often taken to mean the same thing, it’s crucial to understand the differences between the two. #bankmarketing #communitybankmarketing #socialmediaengagement #socialmediametrics #socialmarketing

Learn how to easily create your own Halloween marketing content. This tutorial will show you step-by-step instructions on how you can produce your own professional marketing materials in minutes. Care to see what else you can create for your bank? Click on the link below and join us for a free demo. There you’ll learn how to produce a wide range of content like ads, videos, newsletters, and much more. Plus our portal is user-friendly ensuring that anyone (regardless of skill level) will be able to easily generate top-notch visual content. https://lnkd.in/ew-6PbEB #bankmarketing #halloweenmarketingmaterials #halloweenmarketingcontent #halloweentutorial

Not all that long ago, traditional bankers didn’t worry themselves with millennials. Now the situation has changed. Not only do millennials have enough money to lure bankers, they have something else that should interest them: their children. Those children are Generation Alpha (those born between 2010 and 2025). A growing group of providers is marketing services to help parents teach Gen Alpha kids about money management, while giving them some autonomy to spend by accessing funds through debit cards. Millennials are much more likely to teach their kids about banking and investing and to talk about the family’s finances than their own parents were with them. As a generation, many millennials are also aggressively saving money on their Gen Alpha children’s behalf. All this adds up to a very different generation for financial services: A group of people who will be financially literate — and sitting on nest eggs — at an early age. Some major banking institutions however have been digging into family banking. Among these are JPMorgan Chase with Chase First Banking, Wells Fargo’s Way2Save, Bank of America’s SafeBalance Banking for Family Banking, U.S. Bank’s partnership with Greenlight, and Capital One’s Money Teen Checking Account, a joint account that is actually open to children as young as 8. Legacy banks don’t generally advertise directly to Gen Alpha, while some fintech brands such as PayPal’s Venmo and Block’s Cash App reach out to the kids directly through digital platforms such as TikTok. Cash App, for example, leans into younger teens desire to express themselves and exhibit autonomy by inviting them to design the look of their debit card. Traditional brands’ preference not to go direct to the kids may be sound reasoning. A deeper dive by Mintel, “Family Finance — U.S. — 2024,” by Patrick Rahlfs, principal analyst, warns: “Most parents, particularly mothers, prefer that financial brands do not message their children directly through digital platforms, illustrating a clear brand-to-parent-to-child messaging trajectory that must be followed to resonate with parents without overstepping.” Consider following me for more bank marketing content. #bankmarketing #communitybankmarketing #familybanking #genalphabanking

Social Media is changing many things, including who financial institutions are gearing their education towards. They are no longer promoting financial education to children and adolescents through their parents. Instead, more financial institutions are marketing directly to their target audience. Gen Z and Millennials are more interested in finances at a younger age than their parents and grandparents, and this will affect how they manage their own children’s financial affairs. For example, the marketing of 529 education savings plans is evolving so that banks and other providers are going to find themselves marketing to children. Parents and relatives can start and contribute to these accounts to fund children’s college education. Also, new rules will permit up to $35,000 in funds not used for education to be rolled over, without tax penalty, into Roth individual retirement accounts. Consequently, the market is changing to meet these shifts. In Canada, CIBC offers “Smart Start,” a saving and investment package that is free until the holder turns 25. It’s not just a digital account. It comes with access to new retail spaces that features interactive and immersive financial experiences. Fidelity has relaunched its Fidelity Youth program, incorporating the Roblox online game world to teach financial skills. Also, Greenlight, initially solely a competitor to traditional banks and credit unions, is now offering integrations with those institutions to enable them to offer its form of family banking. Consider following us for more bank marketing content. #bankmarketing #communitybankmarketing #financialeducation #genzbanking #millennialbanking

Supercharge your social media marketing by using customizable layouts designed specifically for banks! Bank Marketing Center allows you to quickly and easily create branded content for your bank. Spend less time deciding and designing what to post and more time on serving your customers. Take a sneak peek at our newest layouts that focus on lowering rates. Make the pitch to your customers and community to refinance their car or truck with your institution. As rates begin to come down over the next 24 months, a refinance message will help get potential customers lower auto rates, and potentially add new clients in the process. A win, win, win! Check out more of our bank-centered marketing services at bankmarketingcenter.com. #bankmarketing #communitybankmarketing #socialmediabankmarketing #loweringrates

The good news first. The Federal Reserve has started lowering interest rates again. The bad news? Borrowers aren’t seeing the benefits of those lower rates in time to help them make timely auto loan payments. And banks are facing loan defaults in frighteningly large numbers. What kind of numbers? Auto repossessions have jumped 23% from last year. Read the rest of the article for more information. #bankmarketing #bankmarketingcenter #autoloans

Don’t wait until it’s too late! Reserve your spot in our bank marketing webinar and learn industry-leading social media strategies. Click the link below to register for our webinar. https://lnkd.in/eC2wzqdm #bankmarketing #communitybankmarketing #bmc4banks #socialmediawebinar #socialmediamarketing

When natural disasters like Helene and Milton strike, the aftermath is inevitably devastating to individuals, families, and entire communities. These are times of pain, need, and uncertainty. These are times, too, when a community bank can play a crucial role in relieving some of that pain and uncertainty. #communitybank #bankmarketing #disasterrelief