Introducing Banks to Their New Customers: GEN Z
A comprehensive review of the youngest financial consumer generation and what it means for financial institutions of all sizes to effectively capture, retain, and provide value for Gen Z.
Who is Gen Z?
- Born between 1997 and 2012
- Ages 10 to 25
- 68 million Americans
- Spend an average of 8 hours a day on their phone
- Must be viewed as today’s banking customers, as they are entering the workforce and opening banking accounts
How Banks Offer Financial Advice to Gen Z
Money Management for College Students
Help your student navigate their finances and learn about their education options. Gather financial tips that can help students pay for college, save money, and plan for important milestones.
Should Your Student Have a Car in College?
Given all the uncertainties and expenses that go with college, the decision of whether or not your child should have a car at school is a big one. Here are six questions to help you navigate the decision—and save money along the way.
College Is More Expensive Than You Think
Here are five ways you and your student can tackle the costs that make college more expensive than you think.
Your First Step: Opening a Student Checking and Savings Account
Learning to manage daily expenses as an adult can seem overwhelming, but the key is to break it down into small, easy steps. Opening a student bank account could be one of the first steps a freshman takes.
How to Pick a Major That Can Help Pay You Back
It’s a big financial return, but college is also a big investment, especially when you’re not sure what you want to major in. Luckily, there are a few ways to start answering those questions and pick a major that can help pay you back.
Is College the Only Path? Picking the Education That’s Best for You
Depending on your goals and interests, you could be on your way toward a successful workforce future after high school. Here’s a look at what your higher education options are, and how to figure out the right choice for you—including the return on investment (ROI).
How to Pay for Your Most Important College Moments
Developing a plan is one of the most important steps to making money go as far as possible. Here are a few suggestions for getting the most out of your college years—without breaking the bank.
The 5 Most Important Financial Lessons for Teens
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Know Where the Money Comes From
While many parents give their teens an allowance or pay for things directly, others earn their money through independent jobs.
- 64% of teens receive money as gifts
- 32% of teens get an allowance
- 22% of teens have a job
(Source: Junior Achievement Teens and Personal Finance Survey, 2019)
-
Understand the Benefits of Saving
Most teens save their money, and by putting a little away each month, that can grow into big savings over time.
- Saving $25 a month:
- 1 year: $300
- 5 years: $1,500
- 10 years: $3,000
- Saving $50 a month:
- 1 year: $600
- 5 years: $3,000
- 10 years: $6,000
Note: Numbers do not account for inflation or any account interest.
How Gen Z Gets Their Financial Advice
- Credit Repair Journey Day 1
- 20/4/10 Rule
- 3 Things To Do At 18!
Key Influencers:
- Keyla Katz – 330K Followers; 16K views of this video
- Dr Jess – 668K Followers; 280K views of this video
- Humphrey Yang – 3.3M Followers; 1.1M views of this video
How Can We Make Ourselves Credible in This Space?
Helping Banks Reach Their New Customers
Publicis Sapient x Tearsheet: Combining to Produce the Resources, Expertise, and Solutions Banks Need
Introducing Steez Life™
Steez: But First, We Needed a Brand...
The First Wave…
- The Website (with a video featuring Dave Donovan and Zach Miller)
- The Report
- The Podcast Series (5 episodes, one featuring Dave Donovan)
...which all leads to our final piece:
The Steez Gen Z Readiness Index
The survey will report on how well banks in general are prepared to interact with Gen Z, including:
- How often they post on social media
- What social media platforms they use
- Are they active/planning on using the Metaverse/Web3?
- Do they offer financial literacy in any of their channels?
- Do they have cryptocurrency services?
- Do they have automated investment platforms?
- And more!
Combined with the initial report, we will be able to show what Gen Z is looking for and where the gaps lay, teeing up conversations on how we can help banks bridge that gap.
US Gen Z Digital and Mobile Banking Users
US BNPL (Buy Now, Pay Later) User Penetration, by Generation
How We Will Promote…
American Banker
- everyonesocial
- life is dataful
PR
- By-lined article
- Pitching Dave Donovan as an expert (messaging session already happened)
Social Media
- Get our teams talking about it
- Position Dave Donovan as an expert
- Coordinated approach with Tearsheet
Video
- Life is Dataful video based on first report
- Gen Z Focus Group Videos:
- Overrated/Underrated video
- This or That video
- Rapid Fire video
The Launch…
The Big Bank Theory (Tearsheet)
- December 8 | Virtual
- Second annual
- 900 executive level attendees
- Dave Donovan speaking (Dec 8 at 11:30 am)
- Joint press release
- Tearsheet, PS, and Steez branding throughout
- Email push to all registrants after Dave’s session
- Social promotion
We Enter the Conversation…
Buyer Stage: Care → Consider → Choose
★ Gated
Unknown Contacts
- Organic Social
- Public Relations
- ★ Gen Z Report
Organic Social
Organic Social
- Public Relations
- Paid Media
- ★ Steez Index
Filled out form → Lead
Known Contacts / PS Branded
- Mass Email / Pardot Email
- CTA: Visit microsite
- Steez website
- Do not open
- A/B test subject line and body copy
CJT Issues Campaign
- Solution
- How We Help Email
BD 1:1
★ Gated
We Enter the Conversation…
Buyer Stage: Care → Consider → Choose
Unknown Contacts
- Organic Social
- Public Relations
- ★ Gen Z Report
Translation:
This is a third-party, lead-gen machine that will allow us to re-target SALs with relevant solutions.