In the wake of Apple’s most recent Special Event, one thing is clear: there is no escaping our corporate overlords. Apple, the company that already lives in the pockets of just over 45% of Americans, is undoubtedly hoping to expand that reach to a seemingly infinite degree with this push into entertainment and finance. While I could spend time going over the many advantages and disadvantages of Apple creating space for itself in streaming, for the purposes of this blog, I’ll focus on the financial side of things and what credit unions can learn from Apple’s latest move toward world domination.
If Apple does one thing better than anyone else in their industry, it’s communicate complex ideas in their simplest forms. From their stark design—void of loud colors and unnecessary frills—to their totally boiled-down slogan, “Think Different”, Apple has been pushing the limits with less for decades. This everpresent oversight on overthought is clear in Apple’s 3 2 1 cash back model. Instead of creating a confusing rewards model with numbers that can only be handled on a calculator, Apple opted to bring us back to the basics with an immediately understandable 3 2 1 cash back system. While intuition may be that people always want what benefits them most in the long run, the reality is that people want what they can understand in the moment. It is paramount that you always keep simplicity at the core of whatever message you are trying to communicate to current and potential members alike.
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