Copyright2014,CafeGiveSocial* · 2018-04-01 · Twitter, Instagram feeds that keys off of a hashtag campaign- #powerofher • Use it to support cause-related campaign(s) where awareness

Copyright 2014, CafeGive Social

Millennials


Adults 18-34 represent the largest segment of new customer opportunity

for financial services organizations!

•  They are going through the most dynamic >me of their lives establishing economic stability

•  Their need for financial products is increasing •  They are establishing loyalty to brands •  They are references to their friends

Why Millennials Should Matter to Credit Unions


•  Born between 1982 and 2004 •  77 million, 25% of the US Population (Nielsen)

•  43% non-white (Pew Research)

•  Wield $1.3 trillion in buying power (Boston Consulting Group)

Pew Research 2014, Millennials in Adulthood Copyright 2014, CafeGive Social

•  85%+ own smartphones (Nielsen) and use it an average 45x per day(SDI)

•  84% connect to companies via social media networks (SDI)

•  66% follow on Twitter •  64% Like a company on Facebook (U Mass,

Dartmouth)


• Only six percent consider online advertising credible

•  TV- hours watched per week has declined 33% 2011-2015

•  95% consider friends the most important source for product information

•  75% expect companies to give back (Forbes)


•  55% consider themselves politically unaffiliated

•  On average, 250 Facebook friends •  They send a median 50 texts per day •  55% have posted a selfie to a social

media site


Millennials and purchase decisions


Millennials-Purchase Decisions


• Consistent exposure and use of social media

2015-‐ Affirm

• Reviews from friends and peers carry weight

• Budgeting is a way of life • Values mean everything

Millennials-Purchase Decisions

90%

1. 2013 CONE Communications/ECHO Study 2. The Nielsen Global Survey on Corporate Social Responsibility 2013

Millennials consider company/brand community engagement efforts when making a purchase decision



1. Leverage college and university partnerships

•  Financial education programs

•  Joint volunteer efforts


2. Social Impact Leads to Sales

•  The volunteers you meet at your social impact events are already connected to you in a very emotional way

•  You never know when they are in need of your products and services

•  Make sure you keep the connection


3. Shared interests mean shared values

•  Partner with your members, suppliers and customers in your efforts

•  Become a trusted partner not just for financial issues, but for community involvment


4. Let them know you’re out there


“One of the biggest challenges in attracting members is awareness…..it’s always been a big challenge. We put our heads down and do the work—we do so much for the community at different levels but sometimes we forget to tell our story.”



Members

Employees

Media

Partner/Cause



Media

Tradi>ional Social

One-Way Engagement Two-Way Engagement

Let them know..Point West CU


Point West Credit Union •  Considers local cause engagement part of their brand experience

•  Tell their story in-‐branch, on their website and on their Facebook page

•  Social Impact Map

Let them know..POINT WEST CU


•  Social Impact Map iden>fies where in the community they are ac>ve, and what they are doing

•  Updated quarterly by CU Staff

•  Drama>c way to show extent of their community engagement

Let them know…POINT WEST CU


•  Map converts to infographic detailing specific activities

Let them know…POINT WEST CU


•  Information converts to a list of all community partners with links to their website.


Mash up

Let them know you are out there.

Girls Inc. Social Mashup

•  A mash-up of Facebook, Twitter, Instagram feeds that keys off of a hashtag campaign- #powerofher

•  Use it to support cause-related campaign(s) where awareness and engagement is critical

•  Fundraising potential with third party



Social Impact

= Brand Engagement

Brand Differentiation


5. Think BIG IDEAS and small scale

•  Look outside your industry for the concept

•  Work it out on a small scale for your needs


5. Think BIG IDEAS

Verity Credit Union

•  Photo contest to launch a new bike loan program

•  Drove a $500 dona>on to a local community bike provider

5. Think BIG IDEAS


Verity Credit Union

•  Relevant in bike-crazy Seattle

•  Fun- different categories

•  User actions supported a good cause

5. Think BIG IDEAS


Bank of Ann Arbor

•  Engaged with community to support donations to local school arts programs

•  Coordinated through local schools and parent organizations

•  Relevant and important


6. Take a cue from SOCIAL ENTREPENEURS

•  Focus on one cause and “own it”.•  Provide multiple ways people can take part•  Become the hub where people and resources

connect•  Evolve with current events•  Make it fun



Similar Different differentiation

rele

vanc

e

Important

rele

vanc

e

Not Important

Antes Drivers

Neutrals Dis>nc>ons

expected preference

Meh……. Ownable but not important



Patelco Credit Union

•  Focus on issues important to the communities they serve

•  Differentiator- time to market…<48 hours


7. Let them tell their story

•  Make them the star of your engagement efforts

•  Listen to their needs before talking about your solutions

•  Remember- credit unions and millenials share many of the same values


8.  Forget local- go hyper-local

•  Leverage your DNA to differentiate your CU from other options

•  Out local the locals and the nationals


9. Members are more than just

customers •  Mellenials are great sources for new employees •  Share your local cause related culture with

everyone- it builds brand preference! •  Use causes and events as talent scouting efforts


•  Between volunteer events, financial education workshops and social media engagement Credit Union’s have lots of opportunity!

•  Keep it real

10. Remember there’s more than

one way to connect


Thank You ! We’d love to help you build preference with

millenials and grow your customer base. To get started, contact:

Sandra Morris [email protected] 503-‐880-‐7349 Alan Jewe] [email protected] 415-‐794-‐5714


Documents

Copyright2014,*CafeGive*Social* · 2018-04-01 · Twitter, Instagram feeds that keys off of a hashtag campaign- #powerofher • Use it to support cause-related campaign(s) where awareness

Copyright2014,CafeGiveSocial* · 2018-04-01 · Twitter, Instagram feeds that keys off of a hashtag campaign- #powerofher • Use it to support cause-related campaign(s) where awareness