Ignore Millennials at Your Own Risk


At a recent conference primarily for credit unions and small banks, I participated in an interesting discussion about the future role of banks and legacy payments for person-to-person (P2P) payments. Few of the attendants offered a P2P solution as part of their online or mobile banking platform and those that did claimed the product was seldom used, if at all. There was consensus that a majority of their customers just aren’t interested in this product.
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Is Gen-Y The Best Target for Mobile Banking Services?


When marketing mobile banking services, banks and credit unions tend to focus all their energy on Gen-Y. But there’s a juicier segment to target.

The other day, my daughter asked me what my favorite app was when I was little. My answer: pigs in a blanket. Gen-Y consumers may have grown up with the internet, but the next generation — Millennials — are growing up with the internet in their (parent’s) pocket.
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Millennials Find Banks Irrelevant


A three-year study from Scratch, an in-house unit of Viacom, found that a third of millennials believed they won’t need a bank in the future. These millennials, defined as those between ages 18 to 33, also ranked the top four banks in the “ten least loved brands” and would rather go to the dentist than to their bank.
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How Three Credit Unions Are Cultivating Relationships With Gen-Y Members


Financial services organizations have a keen eye on the highly-regarded Gen-Y consumers and are spending considerable time, money and marketing resources trying to attract and keep them. Here’s how three credit unions are forging relationships with members that are built on trust, service and loyalty.
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Millennials see banks as irrelevant


I think its time to revisit the relevance of demographic shift in terms of technology adoption.  What got me thinking about this was this report from Scratch/ Viacom on the Millennial generation, and their thoughts on banks.  The report is not talking about the usual shift to electronic channels.

The report indicates millennials see banks as irrelevant.
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‘Big Banks’ more attractive to Gen Y customers?


Data from J.D. Power’s retail banking study finds that 34% of Big Bank customers are within the Generation Y age segment, which is significantly higher than the percentage of Generation Y customers at Regional/Midsize/Community Banks.
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5 Ways You Need to Rethink Your Institution’s Young Adult Strategy


To craft an effective marketing strategy for young adults, you have to start by tossing out all your assumptions, generalizations and stereotypes about this valuable Segment.

Attracting young adults has been a focal point across the aging credit union industry for the past decade. On the community banking side, there isn’t as much marketing energy applied to young adults, but it’s still a concern. With more and more young adults gravitating to large national and international financial institutions, reaching this audience segment is a struggle for community banks and credit unions alike.
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Millennials Are Better with Money Than You Think


The kids are all right.

The rap on today’s young income-earners is that they haven’t bothered to learn about money and spend too much time on social media and smartphones. But two recent studies paint a very different picture. They show a generation that is making use of the broad spectrum of financial products, and aspires to save money, even if they lack the means in today’s challenging economy and the debt brought on by their education.
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