Seven Youth Marketing Considerations

Marketing programs to current and potential younger members should include seven strategic considerations:

1. Enable and create active savers before age 12. Savers do better on financial literacy tests than spenders do.
2. Consider young adults’ attitudes toward credit cards. Their interest in cards may be waning because they’re concerned about debt.
3. Be first. Be the first financial institution they use, and be the first to offer them a variety of financial services.
4. Adopt education programs to inform youth. Segment youth by educational attainment, including those planning to attend college and technical college, and those with no plans for college.
5. Remember that there are many segments within the youth and young adult market, such as children, teens, college students, and minorities.
6. Emphasize information services and have someone available to give advice.
7. Establish an in-person and media presence where young adults tend to congregate.

Source: “Attracting and Retaining Young Adult Members,” from the Filene Research Institute, Madison, Wis.

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