The marketing of financial products is an abstract idea in itself. Combine this with the desire to market these same financial products to humans that are between the ages of 16 to 25 and I’m not convinced there is any single plan that will do this beyond a shadow of a doubt.
I am less than 6 months into holding a Bachelor’s Degree and talk with students and friends all the time who fit this demographic of young people that credit unions desperately need to fill their membership ranks.
These kids aren’t technology-addicted, system-hating, poor-communicating people. They are marketing savvy and don’t want to be sold on something they don’t need.
If you’ve lost your passion for trying to tap into the market of young people refer to my last post –
Millennials need to know about the credit union model – See more at: http://www.cuinsight.com/millennials-need-to-know-about-the-credit-union-model.html#sthash.jOPjXT0i.dpuf
This is why the more important part of your marketing strategy should be building a banking experience that will stand up to harsh scrutiny. Your marketing strategy for young people must start on the operations side.
It’s not enough to just have an app so you can say that your credit union has an app. It must work seamlessly and fit into the everyday conversation of your employees and your members. Have your employees be telling the members how much more convenient it is and how much more cool it is to be banking that way.
If they have a good experience and banking with you makes them feel more cool and more in-the-know they will use it and they will tell their friends.
I would challenge any credit union reading this to bring in your younger staff from tellers to loan sales and sit them around a table. They will be able to tell you which parts of your operations are not conducive to marketing to young people.