Change Your Mindset #19: Your Customers Need to See Themselves in You

In today’s commoditized banking world, customers are really searching for a bank that they can connect with, share values with and one in which they can see themselves. It’s all about being relevant to your target market and taking steps to show your target that you understand what they are all about. While there are many ways to let your customers see themselves in your institution, there are a few we see on a frequent basis.

For example; if your bank caters to the Hispanic community, you need to be relevant to that segment’s needs and preferences, which may include offering Spanish language brochures and merchandising, hiring Spanish speaking employees, having Spanish advertising and messaging, and so on. Beyond language, a target audience should see themselves in the photography you use in your collateral, in the artwork you display on your walls and in the community organizations you partner with.

Let’s look at another example we encounter on a regular basis; if your bank is attempting to attract a younger customer segment (namely Gen Y) then you need to hire younger employees. Gen Y customers will not relate well if they walk into your bank branch and everyone waiting to serve them is of Baby Boomer age. Gen Y customers want to feel comfortable when doing business with your bank, and they can more easily relate to people closer to their own age. If you are explicitly pursuing the younger generation markets, you can’t profess to know them, know their needs, etc. if you don’t even have any employees that are their age.

The main point here is “be relevant”. You must be relevant to your target audience in everything that you do. Staying relevant to your target audience means talking the way they talk, using the technology that they use, expressing the same values, and tailoring your ads, products, images and merchandising so as to reflect your target audience.

Another Gen Y example is offering the types of technology that someone in that age group would expect. Your institution can’t be relevant with someone from Generation Y if your website either does not exist, or is remedial at best. One of the first places a Gen Y customer will attempt to learn about your institution is online. If you do not have a website that is attractive, that speaks to them and that meets their standards – then, chances are, they’ll be onto your competitors’ websites.

On the flip side, if your bank targets upscale and wealthy customers in the Baby Boomer generation who are nearing retirement age and looking for investments, staying relevant means something totally different. The expectations of this customer segment may not be met with a branch staff of 20 year old tellers and personal bankers, digital signage with flashing CD rates, and “We now offer free checking!” banners hanging outside the branch.

You have probably seen the WAMU Banker’s Pen commercials:


This is a good example of stressing the point of staying relevant. These commercials are geared toward the younger market segments and are saying WAMU is right for you If you’re looking for an institution that does things differently from the traditional banking business model.

Some of the best commercials I’ve seen recently related to generational marketing are for Investment Firms like Fidelity and Ameriprise. These two commercials do a great job illustrating how these companies are connecting with their target segments and staying relevant.

Fidelity Investments:


Ameriprise Financial:


Staying relevant works across all customer segments, and does not only apply to younger generations. It may be that you need to work harder to stay relevant to the younger demographic because their needs aren’t as obvious to you, but that is a trend faced by institutions across the country. You don’t know what you don’t know, until you do a little work to dig beneath the surface.

It all starts with knowing your market. Once you know your market, you can speak more directly to them. And once your customers see themselves in you, and realize that you are the institution for them, you’ll be better positioned to both retain those customers and attract similar ones.