Millennials like to engage with brands on social media, but a Principal Financial Group study found that they would rather have one-on-one conversations through email channels.
The study found that millennials have a preference in how they want to converse with brands, and it’s email rather than not through social media.
These are the key trends it identified:
• If Millennials were to purchase a financial product, nearly half (47%) would prefer to use a Financial Professional either in person or on the phone for their product purchase. More than a third (38%) would prefer to purchase financial products online.
• Nearly a third of Millennials preferred method to learn and plan for retirement is through their retirement plan provider’s website (31%). Two out of ten (22%) Millennials preferred method to plan for retirement is with a Financial Professional.
• Half (50%) of Millennials also view a financial services company’s website and/or Facebook page when trying to make a financial decision.
• More than 80% of Millennials use Facebook and Google, four out of 10 (40%) use Instagram and just over a third (35%) use Pinterest each week. Websites that are starting to gain attraction among Millennials include Mint.com, LearnVest and HelloWallet.