What Do You Know about Your Gen Y Members?

My Marketing Strategy Nicolette Lemmon, President & Founder There is so much talk about the “new age wave” of Gen Y, that I decided to find out more about what impact this generation was having in the memberships of client credit unions. In picking seven clients of sizes ranging from $90 million to over $500 million, it was interesting to see the profiles of young adults that opened accounts at the credit union. Take the time to review the young …

Part 3 of 3: Understanding the New Age Wave – Who Is Influencing Gen Y for Banking?

My Marketing Strategy Nicolette Lemmon, President & Founder As a Boomer, I continue to wonder how different the Gen Y Age Wave will be than our consumer wave. As a young adult, I opened my first checking account at age 16 at a nearby community bank. My parents did not take me to their bank to set up my first checking account when I started working a part-time job. They really didn’t influence my decision nor did they show an …

Part 2 of 3: Understanding the New Age Wave – Gen Y

My Marketing Strategy Nicolette Lemmon, President & Founder What do you know about your Gen Y members? Do you know if your youth marketing is working or do you even have any youth marketing in place? I have always been a big proponent of children’s savings programs and teen programs for their ability to engage parents with the credit union. Yet, often I hear a client’s concern of what the impact really is of low balance children’s savings accounts and …

Part 1 of 3: Understanding the New Age Wave – Gen Y

My Marketing Strategy Nicolette Lemmon, President & Founder They Think Differently In reading Grown Up Digital, by Don Tapscott, there was a chapter on the 8 Net Gen Norms that created discussion in various areas of my personal and professional life. The eight Net Gen Norms are: Freedom, Customization, Scrutiny, Integrity, Collaboration, Entertainment, Speed, and Innovation. An interest example in his book was how “Integrity” swings two ways with Gen Yers. When buying a product, significant numbers of these young …

Do You Use Your Company’s Products?

My Marketing Strategy Nicolette Lemmon, President & Founder Recently, when reading Tuned In*, an interesting book about resonating your product and service with customers, there was an interesting question. It was, “When was the last time you bought your company’s product?” For retail services or consumer product companies, sometimes the people making the decisions for new changes, new offers, and new products or services are not “tuned in.” Often, the top people making a lot of the decisions are not …

Combating an Aging Membership with Gen Y

My Marketing Trends Kelly Kressner, Marketing Specialist What gives with youth marketing? CUNA’s National Credit Union Youth Week starting next week has attracted more than 400 credit unions for their savings challenge! Why? With 47 being the average age of a credit union member and the Boomer generation moving into saving and fixed income mode, now is the time to capture more youth market share. And Gen Y is estimated to be as large or larger than the Boomers. Research …