A step-by-step plan on harnessing the purchasing power of Millennials
GrooveCar, the nation’s leading auto shopping and lending resource for credit unions has developed a webinar series to assist its partners with targeting key demographics to increase loan portfolios. The first webinar in the series starts October 6th, entitled “How to Connect with Millennials to Ensure Auto Loan Growth.” Attendees of the webinar will review a step-by-step approach to reaching and serving their growing millennial membership.
The webinars are free and open to all credit unions. This will be the first in a year-long series designed to target growth areas for credit unions. “The webinar will review ways a credit union can engage with this valuable member population. As the largest generation in the U.S., we will discuss the impacts of technology and transportation choices have had on this population. More importantly we will discuss the steps to take to build strong relationships with this group,” explains Robert O’Hara, Vice President of Strategic Alliances, GrooveCar.
The millennial will have a huge impact on the U.S. economy. Estimates on their buying power are predicted to be in the trillions over their lifetimes. Credit unions are in a unique position to serve this demographic with all their financial needs versus traditional banking sources. “The millennial member will have a lot of financial influence on the credit union, greater than any other generation. The webinar will delve into the driving forces behind this phenomenon as well as the necessary steps to take, to become part of their world,” states O’Hara.
Touching on statistical data, information will be focused on positioning the credit union to better serve this population. GrooveCar has created specific support products for its auto-buying resource directed at this growth market to place the credit union in the path of its millennial member. “In order to serve this group, a credit union needs to understand how to market to them. This is a very comprehensive webinar that will provide those in attendance with the tools to apply to their business practices right away. A copy of the webinar will be available to all those attending, as a resource for future guidance,” O’Hara adds.
GrooveCar program partners with credit unions to serve them with an auto-buying resource loaded with features and tools to serve a multitude of member needs. Serving as a partner resource with a robust online car-shopping tool, the program also combines the power of digital and traditional marketing plans to engage members and increase auto lending.