On November 7, the League of Legends game team edg won the S11 championship, and the Chinese lpl division team edg e-sports club defeated the South Korean lck team dk 3:2 to win the 2021 League of Legends Global Finals championship.
A small group of friends in the circle of friends are celebrating the victory, and a large number of people are asking what is "edg". The age is completely exposed from the circle of friends.
Grasping the current high-net-worth customer base can stabilize the basic disk of various businesses, but the future of young people. Many traditionally minded managers still pay lip service to young customers, while some banks have done fruitful work in their efforts to reach young customers.
For example, on April 18, Bank of Communications Credit Card invited Wang Yibo as its global spokesperson and launched a customized version of Wang Yibo's credit card at the same time. It is said that on the day of the official announcement, the credit card of the Bank of Communications set a record of "200,000 applications in the country" and the myth of the banking industry.
This is a case of consumption marketing for young people, which is transmitted to the opening and consumption of credit cards through the trust of idols. There is no difference between a "love bean" credit card in your wallet and a photo of your lover in your wallet thirty years ago.
In addition to the simple and crude way of celebrity endorsements, private banks can also express the content passed to investors in a young way. For example, Ping An Bank's private bank "Aunt Zhang's Little Theater" series of short plays covers all topics of annuity insurance, public funds, and home offices, presenting high-quality content in a very young way to achieve the coverage of young to elderly customers.
This form not only realizes the education of investors, but also greatly reduces the youthfulness of the brand and releases more open information to the young population. Many banks now have a safe sense of branding, but lack vitality, which has many problems in a decade. Security and dynamism are not contradictory.
Young people are the first group of people to stay away from physical outlets, but also credit consumption, advanced consumption characteristics of the group is obvious, the earlier the system covers this group, the easier it is to seize the blue ocean and establish loyalty.
The age definition of the younger group is different, some are defined as "z generation", some are "millennials", but we believe that this type of customer is not completely divided by age, but described from the portrait. They have:
1. The sense of identification with the Internet far exceeds that of other groups
The Internet replaces much of the need for knowledge retrieval, social interaction, and life services, and the habit is deeply rooted.
2. Smartphones and applications are standard
Whether it's online shopping or video swiping, mobile phones are a sign of young customers, and watching mobile phones every fifteen minutes has become the norm.
3. Strong willingness to pay for high quality and convenience
Unlike the frugal habits that many middle-aged and elderly customers have developed for a long time, young people are more willing to pay for online resources. For example, recharge and buy equipment and skins on the Internet; conduct transactions on overseas purchasing platforms; pay for knowledge; micro-plastic surgery has become very common, and so on.
4. Full of confidence in national strength
Unlike the relatively older middle-class customers, the younger ethnic group has just caught up with the rapid development of the country's economy, so the national self-confidence built up is more than that of the older ethnic group. They have already looked at The material and consciousness of Europe and the United States, and do not simply think that "the quality of foreign things is good."
5, the demand for saving money is strong, and it is easy to be planted
This point seems to contradict advanced consumption and quality consumption, but they are very calculating and like to compare prices in multiple ways, such as group purchase participation, social e-commerce and other money-saving models to form a group are very favored. This is also more directly related to the current income.
Compared with financial institutions, there is a closed thinking for young people due to the measurement dimension of credit approval and other aspects of the previous work. Naturally, a barrier to qualifications has been formed to put many young groups behind, and has not formed an effective long-tail coverage. But this is missing an important source of customer upgrades.
In fact, we have been advocating that for young ethnic groups, there can be a special organizational form to serve and cultivate this blue ocean. Although the difficulties are obvious, such as the overall light asset, low credibility and other situations. Financial institutions are thinking, why waste time and risk on young people? Can't they wait for them to grow into a high-end customer base and then serve?
From a short-term perspective and current indicators, it seems that this makes sense. But this ignores two backgrounds: the first is that the coverage of young people can be completely through financial technology and other means of long-tail services, but the problem is now more fragmented than systematic services. The second is that this field is a complete blue ocean, because most financial institutions think like this, and it is easy to stand out.
At a brain storm meeting in a bank, we proposed that since there can be service outlets for women and service outlets for different scenarios, why can't we make a special branch for young people? For such an assessment core is not aum, but the number of customers, customer interaction, customer conversion, customer upgrade, customer family linkage. It's like an incubator for potential customers and a middle ground for the production of young content. Physical venues can be remodeled at smart outlets to give full play to the advantages of banks. Bold brain hole, edg broadcast game can also be watched in such a place? Isn't this where the flow of tap water is?
Of course, doing young people is not a simple pat on the head, at least the following aspects:
First, systematic construction makes financial services more simple, more visually distinct, and the service language is recognized by young people.
Second, develop special products for this group of people, such as personalized credit cards, study abroad finance, treasure products, etc.
The personalization of credit cards is not just about patterns, for example, young customers are very concerned about their own quota. Young people even "compete" with each other in this regard. There are also installment payments and minimum repayments, which are some of the factors of comparison.
Third, the establishment of the customer activity drive circle layer. Financial institutions and young people must acknowledge that there is a "generation gap", but this bridging can be transformed by the participation of more young people. Stimulating the participation of young people through interest, fresh, diverse and interesting marketing activities can feed back the shortcomings of financial institutions. Now the banks emphasize the private domain, and there are many tasks for enterprise WeChat and cloud studios, but they are all individually promoted, and they lack such a circle to create customers. This circle layer can be promoted as large as the branch and as small as the branch level.
At present, many banks are doing digital transformation and marketing content operations, and young people are also experimental fields for new species and new thinking, and the marginal cost is low. Some institutions have divided young customers into: small white family, exquisite mothers, small town youth, etc. combined with the scene for accurate development and maintenance. We would also prefer to see more attempts by financial institutions in this regard.
Finally, to summarize a few young keywords as young customer group development thinking:
Face value economy, cross-border operation, first card, early insurance, curiosity fixed investment, newlywed finance
Original article, hope readers are inspired.