More than 75% of Americans are financially stressed, which may be a result of a rising pattern of poor financial education. Research indicates that while 59% of Baby Boomers meet the criteria for financial literacy, only 36% of Gen Z achieve similar benchmarks. Credit unions have a history of producing excellent financial education, but incorporating financial education into your articles may improve brand awareness and strengthen part relationships.
What is a product?
A product is so much more than your payment union’s brand or phrase. It embodies your overall organization’s core and, when done correctly, can have a broad impact on your target audience. If we peel back the layers of your product, we’ll get your:
- Personality: Your mission, vision, and what makes you unique
- Status: How you regularly deliver quality service and ethical practices
- Authority: Your experience in financial companies and dedication to community development
- Values: Your base rules
- Personality: Your peculiar words, tone, and style
- Community effect: What is the true impact you have on the people you serve.
Collectively, these qualities help you stand out from the competition and make you feel special to your fellow competitors.
But, what does all of this have to do with economic knowledge? Your product demonstrates a commitment to empowering and enriching life beyond the scope of everyday transactions by providing economic knowledge and skills.
In a number of industries, the notion that fiscal learning is related to brand awareness is expanding. For instance, insurance companies are putting a premium on consumer financial education as a part of their service offerings and are focusing on providing financial education and training resources for their customers. Also, companies like Protiviti, KPMG, and Trek are offering their staff access to financial knowledge resources and tools, reflecting a broader pattern of companies prioritizing financial knowledge and wellbeing.
These initiatives don’t just aim to improve people’s financial management; they also aim to improve people’s finances. they’re even about driving product awareness. By positioning your company as a trusted source of financial training, whether for users or employees, you’re strengthening your brand’s status, authority, and relationship with your target audience.
Below are five techniques financial education can increase brand awareness for your credit union.
Five approaches economic knowledge raise brand awareness
1. Makes your company more trusted and recognized.
More than 80% of consumers require company trust before making an order from it. A marriage that is built on trust is laid on by financial literacy activities.
When you actively promote economic knowledge, your product becomes more than just another company. You turn out to be a trustworthy source of information and an assistant. Users who associate your product with reliability and integrity will gain more visibility in the marketplace as a result.
2. demonstrates that you are an authority and worry about your fellow citizens.
You demonstrate to your associates that you care about more than just their pockets by investing in economic training. You care about their entire well-being. By educating folks, you empower them to take command of their economic future, and you show genuine emotion.
“This may improve both your reputation and profits. According to study conducted by the Harvard Business Review, emotionally connected customers are more than half as useful as very satisfied customers on a lifetime value basis.”
Your product establishes itself as a reliable authority and cultivates long-lasting relationships with customers by displaying experience and treatment through financial schooling.
3. keeps your staff individuals devoted and engaged
By educating people, we encourage them to take an active role in their economic life. Through interesting content and interesting experiences, credit unions may foster trust and reciprocity. Over time, wedding strengthens connections and strengthens a brand’s standing.
The “80/20 rule” for brand loyalty underscores deep, lasting relationships. This rule shows that around 80% of a brand’s revenue comes from 20% of its customers. Credit unions may promote establishing powerful, enduring relationships with this select group of highly significant members because they are a significant component of their victory.
4. Allows your brand’s beliefs to shine through
Did you know that 64% of people give shared values precedence when establishing ties with companies? This emphasizes the value of coordinating your company with the values of your target audience.
When customers perceive your company as an activist for financial education and provide resources to help them succeed, they form a deeper bond. Also, your brand’s dedication to social responsibility is demonstrated by actively promoting training and empowerment among its customers who share these values.
5. Uses software to create learning fun and available
Technology is more than just a tool in financial education —it’s a game-changer. We at Zogo assist credit unions in making learning available and interesting for contemporary audiences. Our applications, gamified systems, and bite-sized lessons make economic learning fun and informative.
Visuals, visuals, and other game-like factors increase knowledge engagement by 30%. Members find it rewarding when brands adopt new technologies to increase their experiences, making your company more attractive than your less techie competitors.
Amplifying your company recognition
Credit unions will gain more visitors engagement by prioritizing financial education initiatives. Give monetary training a prioritization so that people can make informed decisions.
Request a video with Zogo today to make the first step toward raising brand awareness through financial training. Discover how our effective financial education programs seamlessly integrate with the services of your credit union.