Consumers often decide where to bank based upon where they take out their first credit card or where their parents bank. Blackhawk believes that Millennials should choose a financial institution that is the best fit for their own specific financial needs, not based on habit, convention, or parental preference.
Most people do not know what a Credit Union is and many have misconceptions about having to belong to a union or special group to join. In reality, there is a credit union for most people!
Blackhawk is trying to figure out how to make Credit Unions a more attractive and relevant option for younger customers.
Will a physical branch be important for a millennial? Why? Or why not?
Please submit the following:
1) Propose a Marketing Strategy highlighting the pros of credit unions that Blackhawk could implement to target & reach Millennials (under the age of 30)
2) How would you successfully implement/execute your Marketing Strategy? (marketing channels, messaging, tactics, etc.)
3) Why do you believe your marketing campaign would be successful? Are there other examples when a similar campaign has had success with the same target market?
4) What metrics could Blackhawk use to measure and evaluate the success of your Marketing Campaign? (think beyond just the # of new Millennial customers).
Tip:
A common struggle for Credit Unions is successfully differentiating themselves form traditional banks (Bank of America, etc) through marketing/advertising. Try to think how you could effectively articulate this difference to potential customers.
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Submissions will be graded on the following criteria:
- Meets Deliverables
- Creativity
- Clarity
will receive $150 each
will receive $50 each
| $150.00 |
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Carolyn Wall Drexel University | |
| $150.00 |
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Justin Bowers Purdue University | |
| $150.00 |
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Corey Atterbury University of Missouri - Columbia | |
| $150.00 |
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Michael Reid Portland State University | |
| $150.00 |
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jmdunc University of Michigan | |
| $50.00 |
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Mat Mathew University of Houston | |
| $50.00 |
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Jan Mees University of Utah | |
| $50.00 |
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Mason Ivy California Polytechnic State University | |
| $50.00 |
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Zachary Lund Colorado State University | |
| $50.00 |
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Andy Vavrousek Washington State University |