cues young & free presentation - part 1
DESCRIPTION
Currency is in the middle of a wonderful social media experiment with Alberta’s Common Wealth Credit Union. To promote Common Wealth Credit Union’s new Young & Free account to Alberta’s 17 to 25 crowd, Currency has created an integrated marketing program centered around the youngfreealberta.com microsite. The thrust of the program is finding and hiring a spokesperson from Gen Y to represent the product, the credit union and their generation. Tim McAlpine and the 2008 Y&F Spokesperson, Larissa Walkiw, spoke about the Web 2.0 dos and don’ts that they have learned and how this program is authentically appealing to a new generation of potential credit union members.TRANSCRIPT
GENYEngaging
on their own terms
PART 1
Larissa Walkiw19-year-old member of
Gen Y
+ Spokesperson
+ Artist
+ Filmmaker
+ Musician
+ Writer
Tim McAlpine
38-year-old member of
Gen X
+ Credit union advocate
+ Creative leader
+ Marketer
+ Speaker
+ Blogger
+ Cheerleader
FACTSThe
“An estimated 40 million Americans are unbanked. What
are we doing to reach out to these people and make them
credit union members? Or consider the need to attract
younger members. Yes, the population is aging in general
—but the average credit union member is now nearly 50
years of age and our lowest rate of market penetration is
for people under the age of 25. These ‘Generation Y’ young
adults are the people who are just starting out on their
own, buying cars, buying appliances, buying homes.
They’re a loan and mortgage officer’s dream, and too many
of them are going to banks, finance and mortgage
companies.”Allan Kemp McMorris, CUNA Chairman
Credit unionsneed to connect with new young members
Our goal:
To get you thinking differently about
how you can make these new
connections
YGEN
Generation Y
A.K.A.Millennials
A.K.A.Echo Boomers
14 to 28years oldin 2008
Distrust media
KEY VALUES & CONCERNS
Technologically savvy
KEY VALUES & CONCERNS
Authenticity and autonomy
important
KEY VALUES & CONCERNS
Question traditional racial
categories
KEY VALUES & CONCERNS
Entering middle school and high school
CURRENT & NEXT LIFE STAGES
Finishing college and university
CURRENT & NEXT LIFE STAGES
Planning five years ahead
CURRENT & NEXT LIFE STAGES
Looking forward to long-term relationships
CURRENT & NEXT LIFE STAGES
Confident but wary
EMOTIONS & AFFINITIES
Practical World view
EMOTIONS & AFFINITIES
Goal oriented
EMOTIONS & AFFINITIES
Respect parents and education
EMOTIONS & AFFINITIES
Friends are very important
EMOTIONS & AFFINITIES
Role reversal: males coloring their hair and wearing jewelry, females doing home repairs
PHYSIOGRAPHIC PROFILE
Not health obsessive; they have their own lives ahead of them
PHYSIOGRAPHIC PROFILE
Shopping is an event,
not a chore
SOCIAL ACTIVITIES & LIFESTYLE
Raised in an instant message,
e-mail, social network global
community
SOCIAL ACTIVITIES & LIFESTYLE
Aware of their personal brand
SOCIAL ACTIVITIES & LIFESTYLE
Quality is cool
PURCHASING BEHAVIORS
Spend to have fun
PURCHASING BEHAVIORS
Heavily influence family purchases
PURCHASING BEHAVIORS
Respond to truthful advertising; aware of image and celebrity hype
PURCHASING BEHAVIORS
2.0WEB
Courtesy of Brent Dixon from Trabian
Courtesy of Brent Dixon from Trabian
Courtesy of Brent Dixon from Trabian
Courtesy of Brent Dixon from Trabian
Courtesy of Brent Dixon from Trabian
OLD
NEW
SOCIAL MEDIA
Keep track of chaos!
RSSSOCIAL MEDIA
SOCIAL MEDIA
Blogs
SOCIAL MEDIA
Vlogs & Podcasts
SOCIAL MEDIA
Diggnation has 400,000subscribers
SOCIAL MEDIA
CNN has 400,000 average
daily viewers
SOCIAL MEDIA
Social networks
The new
TRUTHS
Old marketing is dead!
‘Bank Junior’ is not a
sustainable position
You are not the only author of your brand
Everyone has a voice!
Geeks will rule the world!
Social media and credit unions can build community
And...Social media can
drive sales!
ALIGNStars
PERFECT SCENARIO
Relevant product
Differentiated brand
Real budget
Integrated marketing
Defined market
Social media & Web 2.0
Authentic voice
Senior-level involvement
Long-term commitment
Freedom & trust
Courageous credit union
PITCHThe
Agency brief:
We want to connect
with the youth market
in Northern Alberta
Introduce a free youth account
product to the 17–25 group
Raise awareness and acceptance
of under-the-radar credit union
Create excitement and
understanding with all 400 staff
members
Connect with a under-served
segment in an authentic voice
Direct prospects to the website that
is full of user-driven content
Bring a vibrant youth brand to life in
a way young people would accept
PROGRAM OVERVIEW
Young & FreeThe Launch Story
Larissa [email protected]
YoungFreeAlberta.com
currencymarketing.ca