We are Gen Y and the “why” is how you need to rethink everythingyou know about marketing because we're a cohort over 80 millionstrong in the U.S. alone, who, by the middle of the next decade,will constitute over a third of the workforce.

Born between 1976 and 2001, we currently represent $200 billionin purchasing power and, collectively, we are expected to generate$3.4 trillion of purchasing power over our lifetime. But far beyondnumbers and spend, our real power is an unprecedented influence onthe opinions and behaviors of each other and the rest of the world.It's this influence that makes us the holy grail of consumers.

So, as a financial institution, how do you win loyalty from theleast loyal generation ever? With the new rules of marketing stillbeing redefined, it's no easy feat. If you want to wow and woo us,here's where you should start:

Be where we are

We've cancelled our landlines and cable. We're still home, butour attention has shifted to the devices we don't put down. Onaverage, we each have three of them. And what's on those? Exactlywhat we want, which is our very own curated digital life. If youwant in, and we know you do, we've got to let you in.

Deliver value

We like, identify with, and actively advocate for brands thatgive us something in return. Help us manage our money. Digitalconvenience is table stakes. Financial information is at ourfingertips anytime, anywhere, but 84% of us are seeking realfinancial advice. Personalized, relevant consultation in a techsetting (57% would select a financial provider with videoconferencing) may define whether or not we do business.

Win our trust

Brands that do well for us, our communities, and our world arebrands that matter. Ninety-two percent believe our own businesssuccess is measured by more than profit, and we endorse brands thatgive back to causes we believe in. Be a genuine part of lives. Ifwe believe you get us, we'll start to trust you.

Take us seriously

The average Gen Y-er has $45,000 in debt and six of 10 areunemployed. Of our 63% with a bachelor's degree, almost half workin jobs that don't require it. But despite our economic hardships,we're highly educated, skillfully adaptive to change and upwardlymobile. In fact, one-third of U.S. workers say their boss isyounger than they are. We already make up 10% of affluentinvestors. Win us now for major opportunity later. We're smartenough to make sound financial decisions, but value advice andpersonalized service. The good news for credit unions is thatyou're perfectly poised to deliver these things.

Gina Bleedorn is the executive director of AdrenalineInc.
CONTACT: 678-412-6911 or [email protected]

Read more in the Nov. 13 Gen Y FocusReport:

• No Secret Sauce for Connecting With Millennials
• Marketing Gen Y Stats Worth Noting (Infographic)
• In exclusive content to Credit Union Times' readersfrom the Filene Research Institute, read how credit unions can formlong-term relationships with young adults in Filene's fullreport, “NextGeneration Needs: Examining Credit Union Loyalty Among YoungAdults.”