Ally Bank, an online-only banking institution, wanted to increase awareness of their account options and higher than average APYs to millenials by creating a moment for millenials to assess their current financial situation and plan for the future.
The brand cited awareness as the problem but the problem actually seemed like a need to emphasize the urgency in their target audience becoming financially fit and hesitation around their lack of a physical store.
we wanted to clearly understand the target audience,
so we began digging.
With millennials in mind, I began to look into their attitudes towards finances and the initial research stated that this population has a median savings amount under $3,000. They are:
asset poor & debt rich
So, after doing more digging, I learned that millennials:
don't think their bank offers anything unique from other banks,
but want personal connections with the people managing their money.
Still, an overwhelming majority prefer to use mobile and online banking options.
So after doing a little more digging, we wondered,
does this sound a little like conflicting feelings?
My bank isn't special, I prefer to use mobile banking primarily, I don't have a lot of savings, I will spend money on experiences.
millennials are the anxiety generation living with the someday scaries.
"millennials feel like they can lose everything at any time"
[Fix to the Problem]
[Enhancement to the brand value]