Comments on: 10 Things Youth Marketing Should Involve http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/ Ideas and insights for financial marketers. Wed, 23 May 2012 05:43:41 +0000 hourly 1 http://wordpress.org/?v= By: James Flores http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-33146 James Flores Fri, 14 Oct 2011 04:54:31 +0000 http://thefinancialbrand.com/?p=10066#comment-33146 Hello Jason, I just so happened to stumble on the article and saw you posted a comment (albeit a few months ago). I totally agree with you on the impact music has on youth culture. Yes, I alluded to it in #5, but in all honesty, I was really thinking about programs like Eloquent when I referred to "gearing up for events" in #6. It also applies to #7 (provide on-campus branch support with event marketing). Anytime you can directly engage the youth demo like you did in Texas (or more recently in Alaska), you stand a better chance of holding their attention. You know that first-hand! Now, with that said, I truly believe integrating music is only a portion of the puzzle. I think it’s extremely important that we provide financial information in many different formats. Long after the concerts have ended, financial institutions must stay plugged in with their audience. Giving students a choice for content consumption is just plain smart, since it’s impractical to hold a concert every time we need to get their attention. On the other hand, a podcast may be used in a classroom setting to convey a financial concept, or a teacher may choose to use a relevant blog post as the basis of a lesson plan. Will students actively seek these sources out on their own? Not unless they are informed of their value. This is part of the educational process. Does anyone like going to the dentist? No, but once people understand the value of annual check-ups (which most people learn at a very early age), they’ll get their butt in the dentist chair to avoid tooth decay. We need to educate students that by staying informed, (i.e. reading articles or listening to a 3-minute podcast at their CU website) they can learn things that can have a long-lasting impact on their lives. Once students recognize the value in what is available to them, they’ll be more inclined to search for that content in the future. Now, it’s just up to us to make it interesting and relevant. Topics like “what to do if your PS3 account is hacked”, or “how to avoid getting ripped off by fees” are issues that surely will capture the attention of any teen. Hello Jason,

I just so happened to stumble on the article and saw you posted a comment (albeit a few months ago). I totally agree with you on the impact music has on youth culture. Yes, I alluded to it in #5, but in all honesty, I was really thinking about programs like Eloquent when I referred to “gearing up for events” in #6. It also applies to #7 (provide on-campus branch support with event marketing). Anytime you can directly engage the youth demo like you did in Texas (or more recently in Alaska), you stand a better chance of holding their attention. You know that first-hand!

Now, with that said, I truly believe integrating music is only a portion of the puzzle. I think it’s extremely important that we provide financial information in many different formats. Long after the concerts have ended, financial institutions must stay plugged in with their audience. Giving students a choice for content consumption is just plain smart, since it’s impractical to hold a concert every time we need to get their attention. On the other hand, a podcast may be used in a classroom setting to convey a financial concept, or a teacher may choose to use a relevant blog post as the basis of a lesson plan.

Will students actively seek these sources out on their own? Not unless they are informed of their value. This is part of the educational process. Does anyone like going to the dentist? No, but once people understand the value of annual check-ups (which most people learn at a very early age), they’ll get their butt in the dentist chair to avoid tooth decay.

We need to educate students that by staying informed, (i.e. reading articles or listening to a 3-minute podcast at their CU website) they can learn things that can have a long-lasting impact on their lives. Once students recognize the value in what is available to them, they’ll be more inclined to search for that content in the future. Now, it’s just up to us to make it interesting and relevant. Topics like “what to do if your PS3 account is hacked”, or “how to avoid getting ripped off by fees” are issues that surely will capture the attention of any teen.

]]> By: Jason M. Dias http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-29288 Jason M. Dias Tue, 22 Mar 2011 02:33:18 +0000 http://thefinancialbrand.com/?p=10066#comment-29288 Live music. Music is the lyrical language of gen next. Today 200 students in Texas got a financial literacy lesson delivered with live music and the place was insane. Good luck finding a show on Nick or Disney that does not feature a band or musical theme. Youth Marketing without live music is not youth marketing. And every one of those kids will tell there parents about the show. Honestly, You allude to it in #5 but the kids don't care about podcasts or blogs. And in a day of Glee, Idol, Guitar Hero and all the music/band themed shows on Nick and Disney, it should have been #1. Live music. Music is the lyrical language of gen next. Today 200 students in Texas got a financial literacy lesson delivered with live music and the place was insane. Good luck finding a show on Nick or Disney that does not feature a band or musical theme. Youth Marketing without live music is not youth marketing. And every one of those kids will tell there parents about the show. Honestly, You allude to it in #5 but the kids don’t care about podcasts or blogs. And in a day of Glee, Idol, Guitar Hero and all the music/band themed shows on Nick and Disney, it should have been #1.

]]> By: Tim http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-29247 Tim Thu, 17 Mar 2011 16:06:57 +0000 http://thefinancialbrand.com/?p=10066#comment-29247 Great points, especially #8 - retaining the customer from a young age allows huge returns over the life of the customer. Great points, especially #8 – retaining the customer from a young age allows huge returns over the life of the customer.

]]> By: Ten Things Youth Marketing Should Involve | Subcat's X/Y/Z Mashup http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-28092 Ten Things Youth Marketing Should Involve | Subcat's X/Y/Z Mashup Thu, 30 Dec 2010 07:21:15 +0000 http://thefinancialbrand.com/?p=10066#comment-28092 [...] You can read the rest of the list at The Financial Brand website [...] [...] You can read the rest of the list at The Financial Brand website [...]

]]> By: Ten Things Youth Marketing Should Involve | Subcat Marketing http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-7341 Ten Things Youth Marketing Should Involve | Subcat Marketing Wed, 30 Jun 2010 05:46:12 +0000 http://thefinancialbrand.com/?p=10066#comment-7341 [...] You can read the rest of the list at The Financial Brand website [...] [...] You can read the rest of the list at The Financial Brand website [...]

]]> By: Social Tool http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-5850 Social Tool Wed, 14 Apr 2010 05:36:56 +0000 http://thefinancialbrand.com/?p=10066#comment-5850 Great points! One of the most important things to remember when treading a younger demographic is getting an idea of what can make them care, or listen. You should know which pulse points to press, and then you can start with spreading information and developing a marketing strategy for them. Great points! One of the most important things to remember when treading a younger demographic is getting an idea of what can make them care, or listen. You should know which pulse points to press, and then you can start with spreading information and developing a marketing strategy for them.

]]> By: Scott Moriarty http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-4756 Scott Moriarty Fri, 19 Feb 2010 01:58:57 +0000 http://thefinancialbrand.com/?p=10066#comment-4756 No doubt that initially ROI may be difficult to justify. However, it has to be more than just awareness. The goal is to modify future behavior, and finding a way to take an overwhelming amount of information and put it in their context. Create a campaign that builds trust by providing value to them. No doubt kids say they want to know more about Financial matters, they are not learning it from their parents, and they are not getting it in school. Or if they are getting it there, it is not working in it's current format. the 2008 Jump$tart results were still only 48% after a decade of testing and an explosion of these types of initiatives. Couple education with real world incentives and further motivation to learn more, then you will have your ROI in the future.... A trusting, long term, educated customer/member. Like you say in point 4 it has to be long term... No doubt that initially ROI may be difficult to justify. However, it has to be more than just awareness. The goal is to modify future behavior, and finding a way to take an overwhelming amount of information and put it in their context.

Create a campaign that builds trust by providing value to them. No doubt kids say they want to know more about Financial matters, they are not learning it from their parents, and they are not getting it in school. Or if they are getting it there, it is not working in it’s current format. the 2008 Jump$tart results were still only 48% after a decade of testing and an explosion of these types of initiatives. Couple education with real world incentives and further motivation to learn more, then you will have your ROI in the future….

A trusting, long term, educated customer/member. Like you say in point 4 it has to be long term…

]]> By: CUcupcake http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-4755 CUcupcake Fri, 19 Feb 2010 00:32:21 +0000 http://thefinancialbrand.com/?p=10066#comment-4755 Great article - I especially agree with points 1 and 4. A lesson based program may feel like a waste of resources and not have a great ROI, but the agenda has always got to be raising financial awareness so that this generation aren't of the spend now, save later mindset. And this of course builds the brand, encourages loyalty and leaves the door open for when these young kids do become fully function, financially capable adults. Great article – I especially agree with points 1 and 4. A lesson based program may feel like a waste of resources and not have a great ROI, but the agenda has always got to be raising financial awareness so that this generation aren’t of the spend now, save later mindset. And this of course builds the brand, encourages loyalty and leaves the door open for when these young kids do become fully function, financially capable adults.

]]> By: Scott Moriarty http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-4744 Scott Moriarty Thu, 18 Feb 2010 15:21:47 +0000 http://thefinancialbrand.com/?p=10066#comment-4744 Very strong points, and I thing you lead off with one of the most important aspects, education, and awareness. The most difficult part of that is creating it in a fresh and evolving format that will keep a generation; immersed in technology and hyper-connectivity, engaged. (Also something you bring up in point number 5.) Finding ways to make financial products relevant is no small feat and using multiple channels is a big key. Finding a way to get them to look, well that takes some innovative approaches. Look forward to more conversation on the topic Regards, Scott Moriarty Thwakk, Inc. Very strong points, and I thing you lead off with one of the most important aspects, education, and awareness. The most difficult part of that is creating it in a fresh and evolving format that will keep a generation; immersed in technology and hyper-connectivity, engaged. (Also something you bring up in point number 5.)

Finding ways to make financial products relevant is no small feat and using multiple channels is a big key. Finding a way to get them to look, well that takes some innovative approaches. Look forward to more conversation on the topic

Regards,

Scott Moriarty
Thwakk, Inc.

]]> By: SRG http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-4742 SRG Thu, 18 Feb 2010 14:08:27 +0000 http://thefinancialbrand.com/?p=10066#comment-4742 Excellent article, I think people often forget about #2. Excellent article, I think people often forget about #2.

]]> By: William Myers http://thefinancialbrand.com/10066/10-youth-marketing-maxims-for-financial-institutions/comment-page-1/#comment-4740 William Myers Thu, 18 Feb 2010 13:46:35 +0000 http://thefinancialbrand.com/?p=10066#comment-4740 What's missing? Products! Where's the reverse tier savings account, the first-time auto loan, the starter VISA credit card, the direct deposit pitch, the student loan, the prepaid card, the youth advisory board? Unless a credit union has a product suite that responds to this market (and most don't) the marketing blitz will lead to disappointed new members. What’s missing? Products! Where’s the reverse tier savings account, the first-time auto loan, the starter VISA credit card, the direct deposit pitch, the student loan, the prepaid card, the youth advisory board? Unless a credit union has a product suite that responds to this market (and most don’t) the marketing blitz will lead to disappointed new members.

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