Looking at the Finger - Youth Marketing for Credit Unions

Posted by Tony

June 22, 2007

There is a chinese proverb:
“When the finger points at the moon, the idiot looks at the finger.”

How many times today have you looked at the finger? We all do it from time to time.

I keep reverting to youth marketing - today will be no exception. We, in the credit union marketing field, are always looking to the unattainable “Youth Market”. That fountain of replenishing membership. And to get those new young members - we are looking for the golden chariot that will carry us to the land of milk and honey.

It’s Podcasting! It’s Blogs! It’s Portals! It’s VodCasting! It’s Texting! It’s Social Networks! It’s Vlogging”

Oh, how the fingers point.

If you have spent any time in marketing, you know that the means to communication is never the road to success - the road to effective marketing is your message. I can place a sign on the moon, but if there is no distinctive message - I won’t make a sale.

A website I frequent posted this yesterday. It is a list of the 10 most hated words on the Internet. Can you guess which words were included? Can you guess who was polled? Yeah - the hip youth that we all covet so much.

In a previous post I mentioned something to the effect that when adults get around to using words like cool, rad, awesome or some other slang - the kids have already moved on to another urban lexicon. Where as 5 years ago when kids were “Pimpin’” and it may have been effective to use the word in some marketing - now its sad and defunct. (I am sure this is where I get in trouble as someone is working on a Pimp My House equity loan or something - such is the plight of a reckless marketing blogger) You might as well be saying “Gee Willikers! - This is a snazzy auto loan”. It would be equally effective. It only shows how lame you are to those you are trying to reach - that edgy youth market.

I should say though, when attempting to use slang words that are current - they are usually too racy for the board of directors or the typical CEO. I was just thinking of when Jim Morrison and The Doors were asked not to use the phrase “…girl we couldnt get much higher” on the Ed Sullivan show. The censors went crazy - the kids went WILD! It cemented The Doors into the youth market as cultural and musical icons. A status that they hold still today. The irony is that the urban legend of the meaning of the chrous “Light my Fire” was far more obscene than the assumed drug reference in the first line.

Not to say that a campaign would not be successful using words like “Bling” or “Pimp” - but who is attracted to these messages? It’s not likely the kids (unless you are in the Midwest where the slang may just be catching on - no offense Midwest). It’s likely adults that still want to be cool and feel hip or urban. Heck, my dad is still perfecting his MoonWalk. I haven’t the heart to tell him that he is 20 years behind crumpin’ or house dancin’. Unless he is listening to Akon or Rihanna (maybe even Fobolous or Shop Boyz) he won’t get into the club. His idea of dancing is stuck in the 70’s and 80’s.

So, instead of looking to technology, or “Experts” (The Fingers) for all the answers on how to reach your youth members (The Moon). You should be talking to your current youth membership. Invite them to come into the branch. Throw a party just for them (not on Friday or Saturday night though - no one will show up). Set up an online chat room and ask them serious questions about your services. Find out what they want to know and give them answers. Give them a voice. You may be surprised at how smart they are. You may find out how savvy they are. You may find out how to talk to them in a way that makes them want to listen. Make the effort to show them that you care about their needs. You would do no less for your other members.

There is another old proverb:
Reach for the stars. Even if you can’t make it, you might catch the moon.

Addition:

Matt Dean over at OpensourceCU.com is proposing a survey that looks into the same type of communication that we are talking about. You should definitely see what they are up to.