Q&A with Doug Tangwall

February 16, 2010

Question: How can we connect with young adults in our credit union's marketing?

Be prepared and give up some control.

Last week, I had the pleasure of inviting a member of the elusive millennial generation into my home. Her name is Michelle Kramer, a 26-year-old who is looking for work, following a two-year stint with the Peace Corps in Ukraine. I was intrigued when Michelle mentioned that, while out of the country, she sent in a video that received 700 views as part of Summit Credit Union's “Pay It Forward” promotion—a contest that donated $10 to a cause recommended through a short video clip. A larger prize was awarded to the video that was voted best on the credit union's website.

According to Sarah Gibson, author of The Zoom Guide to the Generations, Millennials are born between 1982 and 2000 and are:

• Group-oriented
• Socially-conscious
• Community-focused generation that defines itself by affiliation

Hmm—sounds like a good fit for credit unions.

What's meaningful marketing to young adults?

As owner of a marketing firm that specializes in educational-content and social-media strategies for credit unions, let's look at what worked. This promotion engaged Michelle because it offered:

• Creativity (she made her own video and e-mailed it ; no upload was available)
• Personal meaning (in this case, her connection with social consciousness)
• A chance to share (in a format that her friends could relate to)

Preparing a Path to Success

Michelle's video has the potential to “go viral.” And viral equals opportunity.

Are there improvements that could be made to promotions like this one to expand social-networking, self-education, and opt-in among young adults?

Here are some ideas:

• Allow participants to take more control. In this case, let them create and upload their own videos.
• Integrate with social-media tools. If it's too much work to share, Millennials will move on.
• Plan context-specific, click-through paths. Fill destinations with powerful content—packaged to address targeted goals or points of pain¯and deliver it in ways that resonate with the group.
• Measure and adapt. By defining and tracking engagement metrics, you can find out what's working—and what's not—and refine best practices.

Prepare meaningful content, and plan a path to success. Social-media promotions are generally soft-sell, but with Millennials, they need to be self-sell.

And give this generation some creative license. When you do, there's a greater chance that something unique will emerge (and that others will be attracted).

So, let go of the reins a little . . . How does your credit union tap into the creativity of this connected generation?

Doug Tangwall is founder of End Result Marketing in Madison, WI. Contact him at questions@endresultmarketing.com.

Post this page to:

Comments