BANK AND CREDIT UNION MARKETING
It’s all about timing! Graduation season presents an excellent window of opportunity for banks and credit unions that are wondering how best to market to this newest generation of working, earning, purchasing, borrowing, investing adults.
The Wall Street Journal reported in January that U.S. consumer borrowing saw the largest monthly gain in 16 years, “buoyed by increased consumer confidence in the economy.” Total household debt rose to $13.21 trillion in the first quarter, according to the Center for Microeconomic Data. Credit card debt increased last year by 7 percent from the previous year (NerdWallet).
At the Financial Brand Forum this month, marketers discovered the biggest ideas, trends and outlooks for the industry. Popular topics included data-driven personalization, omni-channel integration and Generation Z attraction. At image.works, a consultative approach envelops these subjects into one service: loan generation.
Do you Skip-a-Pay? Many banks and credit unions offer Skip-a-Pay to help their customers/members keep more money in their pocket when they need it most – usually around the holidays and during the summer. Offering Skip-a-Pay for a small fee can mean thousands of dollars in revenue for you – when you get a good response rate.