first_imgAcross all demographics, it’s clear that consumers are comfortable with the idea of making referrals; with over 50% of all respondents indicating they’ve done so.Then we inquired whether or not consumers were likely to act on referrals they’d received.    Making a referral is one thing, but making a purchase as a result of a referral from a friend or family member is another.  Clearly however, the results speak for themselves: In our survey, more than 70% of our survey participants indicated that they’d made a purchase based on the recommendation of a friend or family member.So how do results compare when we segment by age group?  Easy answer: It’s virtually the same across all age ranges:  18-24 year olds are just as likely to have made a purchase on the basis of a referral from a friend as consumers aged 45 plus.  Statistically speaking, referrals and recommendations from friends are valued by the majority of consumers.This is good news for Credit Union marketers.  With credit union customer satisfaction at 92%, credit unions have a highly engaged and loyal customer base to draw upon.  And with millennials responding positively to reviews and recommendations, and willing to both make referrals and make purchase decisions based upon those referrals, credit unions can now leverage some of the lowest-cost and most effective marketing methods to engage with millennials.It should no longer be challenge for savvy digital marketers at credit unions to convince their executives that modern digital marketing methods should include online reviews and referrals, and could potentially become the lead acquisition strategies for younger demographics.We’d love to hear your stories about what’s working to attract millennials to your credit union, and how reviews and referrals have made their mark for you. It’s clear that when it comes to attracting millennials to your brand, this represents a great opportunity to solicit reviews from millennials, and to publish reviews to millennials. These are solid methods for attracting new customers from this demographic.Will millennials participate in referral programs?What about referral behavior?48% of millennials say word-of-mouth influences them more than TV ads. For credit unions looking to save money on their advertising budget, this is good news indeed.  When it comes to word-of-mouth marketing – also known as referral marketing – millennials are just as likely to make referrals as any other demographic.  In fact, youthful millennials aged 18-24 are 16% more likely to have referred their friends and family to products that they’ve eventually purchased.  Only seniors aged 65+ are near as likely to have made a referral in the past resulting in a purchase. 43SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Neil Parker Neil Parker is the VP Product Management and Marketing at RewardStream. Neil has 20 years experience in Product Management and Marketing at companies such as Glenayre, Infowave, Sierra Wireless, Contigo … Web: rewardstream.com Detailscenter_img In our recent credit union marketing survey, we learned that credit union marketers across the nation are interested in attracting a youthful demographic.  No big news here: especially since the average age of a credit union member is 47 in the United States and 53 in Canada, and that despite warnings to the contrary millennials continue to be willing to conduct their finances with traditional institutions like banks and credit unions.So credit unions want to attract millennials, and millennials are willing to bank with credit unions.  What’s the challenge?Well – apparently – digital marketing efforts in the credit union sector continue to lag modern marketing trends, making it more challenging for credit union marketers to reach this critical mass of millennials – 92 million of them in the US alone.In fact the survey results showed us that credit union marketers are holding onto the belief that traditional marketing methods like Direct Mail (89% of respondents) Radio (64%) and Billboards (59%) are still effective marketing methods, when these methods are clearly not the way to reach millennials.While millennials still consider TV to be a primary source of brand influence over them, radio and billboard score dead last amongst ideal media via which millennials can be reached and influenced. A recent Instabrand survey showed that 91% of millennials would consider buying a product if a friend recommended it.  But as we’ve learned very few marketers are using referral marketing to grow their member base despite it being considered the most effective means to attract new customers.If word-of-mouth and referral marketing are the right means to attract new customers, will referral programs be as effective at attracting millennials for credit union marketers as for every other age bracket?We were interested in learning whether or not consumers across all age groups acted in a similar fashion when it came to reviewing and referring products and services.If middle-aged members will refer their friends to your credit union, will millennials do the same?We conducted a survey to find out whether millennial consumers are more or less likely than other age groups to post and read online reviews, to make referrals, and to make purchases as a result of referrals that they receive from others.  We were also interested in understanding if more mature consumers behaved measurably differently than millennials when it came time to make online referrals, reviews and recommendations.Are millennials more or less likely to post online reviews?Across all consumers, the percentage of people willing to post an online review still falls well below 50%.   In fact, as you’ll see below, more people value online reviews than are willing to post them … (representing an interesting gap in expectations). But when we segment by age group, some more interesting trends emerge.Perhaps not surprisingly, the combined millennial demographics (18-34 years old) are more likely to have posted online reviews for products and services than consumers that fall into Generation X or Baby Boomer cohorts.  Amongst millennials themselves, 18-24 year olds are more likely to have written online reviews than 35-54 year olds, with “older” millennials aged 25-34 being the most active group.Still, with more than 30% of 35-54 year olds comfortable with the idea of posting online reviews, statistically this shows that credit unions can rely on a broadening swath of their customer base to feel comfortable with the idea of making an online review of the institution even though this practice is not yet mainstream.  This represents an opportunity to solicit reviews and recommendations from all customers that can be shared in digital marketing campaigns.Are online reviews important to millennials when making a purchase decision?Similarly, when asked whether or not online reviews are important when making a purchase decision, well over 40% of all participants indicated that reviews were important, with more than 60% of those people in the millennial cohort indicating that online reviews are important.last_img read more

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first_imgKolkata Knight Riders occupy sixth spot in the points table. Kolkata players practised in Mumbai ahead of their next game. Kolkata has lost 5 straight games in this edition.  Mumbai: Dinesh Karthik’s leadership skills have come under scanner after Kolkata Knight Riders’ five back-to-back defeats in the ongoing IPL but coach Jacques Kallis said that there has been no discussions on removing the under-fire captain. “No. We haven’t discussed it, nor it had been brought up. So now there’s been no talk about that,” Kallis said when asked about a possibility of a shake up like Rajasthan Royals where Ajinkya Rahane was removed for non-performance.”Hopefully, he (Karthik) can get in and get us some big runs. That will certainly mean a lot to the team and as much as he wants to do it,” the South African great said of his skipper, who averages a dismal 16.71 from nine innings this season.However it is learnt that the team’s principal owner Shah Rukh Khan had called the top players to Mumbai. The Bollywood superstar sounded emotional in a tweet following their loss to Royal Challengers Banglaore at Eden Gardens on April 19.”I feel it’s only fair for KKR to do something in return for @Russell12A, like winning a few before the season ends,” Shah Rukh had tweeted.Asked whether the team met SRK in Mumbai, Kallis said: “I have not chatted to him since the guys have been in Mumbai.In fact, I think DK went home for a day as well. So we will catch up tomorrow and have a debrief and plan away going forward again for the next game.Asked about Shah Rukh’s unhappiness, Kallis said: “We all want to perform a little bit better. Yeah, I think everyone’s in that space where we just want to get up and play better cricket and get back on winning ways. Losing certainly isn’t fun.”While foreign players like Andre Russell were training in Kolkata, Karthik along with Shubman Gill and Kuldeep Yadav trained at the KKR academy in Mumbai.While news from the team management was about giving players a “break”, the question remained as to why they were training if they have been told switch off for a few days.”We felt the guys needed a break. Guys are given freedom to do what they want to for the next couple of days.It’s has been a disappointing couple of games for us so we thought that guys can go and do what they want. Go home or some guys felt they wanted to have some practice in the middle which we couldn’t get here,” he said about their training in at their academy in Mumbai.”It’s about getting the guys refreshed and coming back ready for the game and just trying to be mentally up for the game again,” Kallis’ answer sounded far from convincing.Karthik, a questionable selection in India’s 15-member World Cup squad ahead of the talented Rishabh Pant, the veteran Tamil Nadu wicketkeeper has failed to justify his inclusion (even though IPL is not considered as a parameter) either with the bat or with his decisions.”In the last game, he came up in the batting order but unfortunately got run out. It’s about matching up players and situations.He’s a vital player for us and a world class player,” Kallis tried putting up a brave face.Gautam Gambhir-led KKR had a dramatic turnaround in their triumphant campaign in 2014 when they won nine matches in a row to lift their second title.Seeking inspiration from that, Kallis said: “We’ve done it before. It’s almost like there is no tomorrow for us now.Hopefully we can repeat that again this year.”Certainly it’s possible and the guys will try hard both off the field and on the field. We will be up for the game, that’s for sure. I think everybody wants to do that. The guys will be up for it and will give 100%. There’s still a lot of belief in the change room.”Their latest defeat came at Sunrisers Hyderabad, who cruised to a thumping nine wickets win on Sunday.Asked whether there’s any negative vibe in the camp, he said: “I wouldn’t say negative. They do realise that we still have very much chance of qualifying and we’re just going to play some good cricket and I’ll say we’re longer in it in this format there are little percentages that you need to improve in order to turn these things around and we’re not far off. Just a little things that we need to do a little bit better.” highlights For all the Latest Sports News News, Indian Premier League News, Download News Nation Android and iOS Mobile Apps.last_img read more

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