How young adults make decisions
You’re not just selling your accounts to the young person. That one individual is then having to turn around and convince all their peers and their parents that they made the right decision.
Comparison of purchases and decisions happens often in the life of young adults as they begin to position their career and family lives. Advice of parents and friends plays a very heavy role in any decision.
A person is the sum of all their decisions. How does the brand on your card appear when they lay it down to pay for dinner on a date or an important meeting? Does it make them feel more cool or more “in-the-know”?
How fast does your app load when the smartphones get pulled out and the technology duel begins for who made the better financial institution choice.
It sounds funny but this is what happens. Young adults in college or just out talk about the decisions their making and whichever one has the most convincing argument is seen as the one on top or the one who has their life together.
If your app crashes during this crucial conversation or the functionality is weak, you lost the confidence of the one sale you made. AND everyone else at that lunch table will not adopt your brand because it lost the battle.
Young people know they have choices of where to go and often times credit unions are failing to grab their attention because they are seen as small and not able to match their active lifestyles.
On the flip side if you’re able to secure a knowledgeable young person as your member and your banking options make the cut, they will be more than happy to tell others because your brand is building their personal brand and influence.
