Hana Financial Research Institute Analyzes SNS Marketing Strategies
Need to Provide Interactive Content via SNS
"Must Involve Creative Participation Beyond Simple Engagement"
[Image=Getty Images Bank]
[Asia Economy Reporter Minwoo Lee] An analysis has emerged that the domestic financial sector should strengthen social network service (SNS) marketing targeting the ‘Generation Z’ (those born from the mid-1990s to the late 2000s). It is pointed out that the key lies in creating and promoting content that emphasizes participation rather than simply delivering financial knowledge.
On the 29th, Hana Financial Management Research Institute made this claim through a report titled ‘Succeed as Generation Z’s Online Playground.’ As companies’ social media strategies are being strengthened, the domestic financial sector should also implement marketing strategies that encourage voluntary participation from Generation Z customers.
The report drew this idea from the success of Chinese unicorns (unlisted startups valued at over 1 trillion KRW) that have targeted Generation Z. Representative examples include ByteDance, which launched TikTok, and the online fashion startup Shein. Both TikTok and Shein became trends among Generation Z, securing dominant positions in the market. According to the report, TikTok was the most used application among American Generation Z users, with 63% of users aged 12 to 17 last year. Shein ranked second among U.S. shopping apps after Amazon and was also the second most popular shopping website among American teenagers.
Researcher Mikyung Kang of Hana Financial Management Research Institute analyzed, “By providing an optimized environment for users who want to easily create and enjoy content, they satisfied Generation Z’s desire for simple experiences while expanding opportunities for users to participate as creators. The success factor was creating an ‘online playground’ space where consumers can enjoy themselves independently and actively participate in brand marketing.”
The report advises that the domestic financial sector also needs to adopt similar strategies. It is necessary to strengthen SNS marketing targeting Generation Z and devise ways to enhance customers’ voluntary participation. Of course, established financial groups are also strengthening their social media strategies. KB Kookmin Bank’s web drama ‘KWANGYA’ surpassed 10 million views by promoting it through the popular idol group Aespa. A romance genre web novel containing financial knowledge is also being serialized. Woori Bank prepared content explaining real estate financial knowledge targeting the MZ generation (Millennials + Generation Z). Additionally, SangSangin Financial Group has released a web entertainment show on financial topics.
However, most of these contents are one-way knowledge delivery formats. Although Hana Bank launched a mock investment game called ‘Investment Marble’ to induce customer participation, it is not a method where customers become creators. Researcher Kang pointed out, “Reflecting Generation Z’s characteristic of actively expressing opinions on product development, advertising, and marketing, SNS should be approached systematically from a brand management perspective, focusing on participatory content. While understanding the characteristics of each platform, it is necessary to discover interesting themes and build a space where Generation Z perceives it as ‘play,’ participates voluntarily, and exerts influence.”
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