Independent Banker - January 2024 - 29

Next: Looking at the secondary whole loan market 
business model, but we need to
educate them, and that's something
that we see as an opportunity more
than anything. "
By educating Gen Z about
community banks, you can create
customers for life, positioning your
community bank as the primary
financial institution that can support
them through graduation, their
first job, homeownership, starting
a family, wealth building and,
eventually, retirement.
" It's really important to go after
someone early in their banking life
cycle so that we can be their bank
throughout their whole life and meet
their financial needs at whatever
stage they're in, " says Baker.
Swag is proven to be an effective
tool to attract customers. The
Advertising Specialty Institute
reports that promotional products
are the most high-impact, costeffective
advertising medium
around. The key is making sure
your sign-up incentives are
thoughtfully selected and tailored
to a Gen Z audience.
Swag with impact
Useful gifts and cash are always
appealing swag options, but if you
want to spark a deeper connection
Beyond the swag
Even the most unique and valuable swag is not a replacement for
fostering a meaningful connection with potential Gen Z customers,
with whom financial services leaders can gain trust and loyalty
through personalization and relevant financial advice as they
begin charting their financial future, says the Bank Administration
Institute's special report, The Top Banking Trends and Challenges
for 2023.
At Community Bank & Trust in Waterloo, Iowa, this means
handing out swag items in a fun and engaging way. " That's
more important than the exact items you're handing out, " says
Kyle Baker, vice president, retail banking manager. " When we
have a booth at a fair, we try to have some sort of game or an
opportunity for them to win something. While they're standing
at your booth, you can make it more engaging. You can have a
conversation, learn a little bit about them. That's a great way to
drive new relationships. "
with Gen Z customers, consider
promotional products that speak to
their interests.
" They want to know what you are
doing for your community, what
organizations you support, what
you're involved in. It's important
for community banks to showcase
this, " emphasizes Baker. " This
is our strength as a community
bank. Gen Z really values that. "
Swag inspiration
So, how can you translate those
ideals into meaningful swag?
Perhaps you make a
commitment to only using ecofriendly
swag, like reusable grocery
bags or refillable water bottles.
Instead of cash incentives, your
community bank could donate to
a local charity every time a new
customer opens an account. You
could even partner with local
creators in your community to gift
new customers with one-of-a-kind
" It's really important to go
after someone early in their
banking life cycle so that we
can be their bank throughout
their whole life and meet
their financial needs at
whatever stage they're in. "
-KYLE BAKER, COMMUNITY BANK & TRUST
pieces of art.
" There's a pride and interest
in supporting and being part of a
community, so when we talk about
how swag can help, it's really about
how swag can embody a bank's role
and membership in a community, "
says Birgfeld. " What are the unique
attributes of the community that
you call home, and how can you
put your arms around that? "
Taylor Hugo is a writer in Colorado.
independentbanker.org // 29
http://www.independentbanker.org
Independent Banker - January 2024

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