Millennials on a Mission to Learn About Financial Literacy

Millennials have been the most attractive generation for all financial services for a while.

And in the next few weeks, they will overtake baby boomers as the largest generation.

For the majority of marketers, this generation remains mysterious because the proven ways of engaging and connecting don’t apply to these technology natives.

Almost a year ago, during THINK 14, CO-OP launched a millennial campaign on Twitter, Facebook and a dedicated website; supported through paid media and search. The first few months were dedicated to testing and experimenting, a small victory here and a small failure there. Over time, three common themes emerged:

  • Millennials are visual: This generation is highly visual as learners and communicators. The credit union story needs to be told visually through videos, quizzes, infographics and enticing imagery.
  • Millennials don’t react to push marketing, will engage with pull marketing: Content is king. Pushing the credit union message directly might get some reaction initially but attention will be blocked for future attempts. Instead, the campaign dedicated itself to be a valuable helper for the audience through a combination of owned and curated content.
  • Use Twitter to build your community, Facebook as a paid reach platform. Twitter still offers 100% organic reach, while Facebook delivers on its promise of reach through their advanced targeting opportunities. Both social platforms require paid media support to reach, engage and connect with people, engaging content helps to keep the media investment as low as possible. And the results speak for themselves:
    • 85k+ followers on Twitter
    • 7K+ fans on Facebook
    • 81 million media impressions, doubling every month
    • Engaging content such as quizzes and infographics resulted in engagement rates up to 200% above industry standard

This is Just the Beginning

Based on the success during year one, CO-OP has big plans for 2015/16 to evolve the campaign to a state-of-the-art financial literacy platform with the goal to spread the credit union message to a bigger audience.  The last year showed us that Millennials are open to listening to our message and a fire was ignited. CO-OP will continue to keep it burning.

Strategic Link is the NWCUA’s wholly-owned service corporation, using the power of aggregation to provide the Association’s member credit unions with exclusive, high-quality, competitively-priced products and discounted services. Contact Director of Strategic Partnerships Craig Reed at [email protected] today to find out how Strategic Link can help your credit union save money while meeting its goals in 2015 and beyond.

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