Generation Z has grown up in times of financial uncertainty and especially these days, they are still feeling the impact of Covid-19 on their income. How can you serve Gen Z well in order to help your credit union or community bank growth strategy?
Now more than ever, Gen Z prioritizes becoming financially savvy and your financial institution should be equipped to provide them with the solutions they’re looking for, helping you create loyal customers for a lifetime.
Here are our expert tips on targeting engagement with Gen Z for credit union and community bank growth.
Centering Accessibility
Thanks to exponential tech advancements, Gen Z grew up in an “on-demand” environment and they’re used to being able to access anyone through phone, email, text, and chat.
Your credit union or community bank must not only have the technology in place to address these needs, but must also clearly convey the “on the go” convenience of this accessibility to your Gen Z customers via your marketing strategy to help differentiate yourself from competitors.
Providing Gen Z the flexibility to access your products and services when they want and how they want to across various platforms goes a long way in building loyalty among this generation.
Delivering Cutting-Edge Technology
On top of accessibility via tech, Gen Z also expects the latest-and-greatest retail banking technology hardware itself.
Having grown up with some of the best technology on the market such as smartphones, laptops, and iPads, Gen Z often expects the world around them, including their banking institution, to provide modern technology for speed and seamlessness in their interactions.
For financial institutions, a retail branch experience complete with modern displays, tablets, or self-service kiosks positions you as an up-to-date institution that’s ready to meet the fast-paced needs of modern members or customers.
It may go without saying, but we’re going to say it anyway. Connect with Gen Z by creating a smartphone app. Creating an app for your financial institution will make your services available even when you’re closed. When many credit unions and community banks were closed during the pandemic, customers relied on their app for information and access to banking services.
A modern, user-friendly app guarantees a good experience for members or customers outside of the branch.
