Build a Gen-Y Fan Base from the Inside Out

by TMG

by 

As Gen Y becomes a more influential demographic in financial institution (FI) growth strategies, credit union and community bank leadership must avoid the temptation to make assumptions. It’s easy to assume young people know how the credit union business model works or to understand how a local bank is different from a large bank.

Often the critical differentiation is too much to communicate in just a few seconds, which is how much time customers today spend looking at billboards or reading newspaper advertisements. That is why it’s so important for smaller FIs’ marketing strategies to include a mix of traditional print and broadcast channels, as well as digital opportunities.

To not only reach — but also to persuade — Gen Y, credit unions and community banks can find a media ally in social channels. With a truly comprehensive social media strategy — one that creates two-way conversations — passionate FI leaders can begin to dispel myths, provide relevant explanations and help new audiences uncover the gem that is their local FI.

To achieve relevancy with Gen Y, you’ll have to do more than sign off on social media efforts. It may also mean adjusting your teams, building a Gen-Y fan base from the inside out. Consider expanding your marketing and product teams to include a different kind of talent. This is not to say all your new hires must be young; rather, they must be entrepreneurial. Yes, they may offer experience with digital marketing and social engagement, yet it will be their unique brand of problem solving that will really move the needle for your FI.

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