So, where do you think you should be fishing when it comes to finding new members?
Social media. It’s not my opinion. It’s a fact based on a study from GWI that found that 31% of social media users in the US in Q1 2020 said they typically find out about new brands/products via ads on social media, a 40% hike from the previous quarter.
Another recent study from Smartly.io published similar data indicating that 57% of US adults use social media as a way of finding new brands, and that a majority of consumers have been turning to social media more to discover new products and brands.
Let’s break this down by generations and preferences to be even more helpful for your credit union strategic marketing plan for next year. When it comes to millennials and Gen Xers, they are more likely than Gen Zers to click on promoted posts/ads on social platforms, including Facebook, Reddit and TikTok. When it comes to Gen Zers, they seem the most swayed by influencers and the only generation in the study to overwhelmingly say that they feel that influencer recommendations are more relevant to them than traditional ads on social media.
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