Search
 

Rules of Engagement: Marketing Across Generations

Today's CUs face a unique challenge: Engaging and marketing to members across more generations than ever before.

By Deidra Colvin | Updated on November 03, 2017

Today’s credit unions face a unique challenge: Engaging and marketing to members across more generations than ever before. This is because older generations are living and working longer and younger generations have more spending power at an earlier age. In fact, Americans 50 years and older were responsible for $7.6 trillion in economic activity in 2015. And Gen Z (those born after 1997) already commands $44 billion in purchasing power, according to an Ernst & Young report. This means credit unions must focus their marketing efforts across four generations at any given time (boomers, Gen X, Gen Y, and the up-and-comers, Gen Z).

The opportunity for credit unions to expand their member base and grow their share of wallet is now. To capitalize on this opportunity, credit unions must recognize and understand the communication preferences of each generation. Considering how various age groups prefer to receive and act upon marketing messages can help your credit union more effectively engage with its target audience.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.