Go Local Interactive Fall Banking Industry Report Reveals Unique Consumer Trends in Millennials

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Go Local Interactive was ranked among the top ten digital marketing agencies by the Kansas City Business Journal, has released their latest banking industry report.

16% of millennials switched from traditional banks to community banks, credit unions, and online-only banks in 2016.

Go Local Interactive has just released their report and analysis of marketing trends in the Banking & Financial sectors for the 2016 fiscal year. The report highlights trends over the past 10 years and specifically how much has changed in the past year alone. Through their research, Go Local has uncovered industry trends and shifts within the past year and analyzed these changes to forecast where the industry is growing in 2017.

Much of the focus of banks is shifting to mobile devices and millennials. However this shift has nuances that banks must be mindful of, such as consumer trends that are unique to the banking sector. Many banks don’t have a solid brand that is consistent on all platforms and across every aspect of their marketing, digital or otherwise. Yet “as much as 90% of traffic to bank websites comes from branded searches.” This high level of brand recognition is what is necessary for banks to survive and thrive in the digital age. This and many more consumer insights and industry statistics are detailed within the report.

The report combines all sorts of information to give a better idea of the big picture in a format that is digestible and actionable, such as what kinds of services need to be available online and how to market these services to various consumer groups. The report also incorporates national banking trends and economic forecasts in terms of branch locations, types of services, website trends, advertising and more. The report highlights how banks are shifting to be focused on new consumer desires, as more than “16% of millennials switched from traditional banks to community banks, credit unions, and online-only banks in 2016.” Understanding these nuances with specific consumer demographic groups while also tying in larger industry trends will be key to not only surviving, but also increasing revenue in 2017.

Go Local answers the marketing needs of national and large regional clients across a wide variety of industries including home services, retail, financial services, ecommerce, and more. They are experts in effectively implementing, managing and tracking clients’ marketing efforts down to the local level. This recently released report contains in-depth research and analysis on where the industry is headed in 2017 and how some banks are starting to change within the digital age, while others fall behind. To learn more and read all insights and analysis, check out the Fall 2016 Banking Report, now available online for free for a limited time only on the Go Local Interactive website.

About Go Local Interactive:
Go Local Interactive is a digital marketing agency specializing in new customer acquisition for national and regional brands. They answer the marketing needs of clients across a wide variety of industries including self storage, home services, retail, financial services, and ecommerce. They are experts in effectively implementing, managing and tracking clients’ marketing efforts down to the local level – no matter the number of locations or size of the service area. Go Local provides website development, search engine optimization, paid search, social media, data analysis and consulting, and multiple proprietary services, such as Call Boost™ and Local Perceptions.

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Michael Solms
@WeAreGoLocal
since: 04/2011
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