The Market
Written by Anthony Demangone, Powered by NAFCU
When I watch a television show, I am often baffled.
The advertisements just don't catch my eye. They seem like they are for ... someone else.
Well, they probably are.
I saw this post from Calculated Risk on America's demographics. What were the most common ages in 2017? The answers might surprise you.
| 2017 | 2020 | 2030 | |
|---|---|---|---|
| 1 | 26 | 29 | 39 |
| 2 | 27 | 30 | 40 |
| 3 | 25 | 28 | 38 |
| 4 | 28 | 27 | 37 |
| 5 | 24 | 31 | 36 |
| 6 | 23 | 26 | 35 |
| 7 | 57 | 32 | 41 |
| 8 | 29 | 25 | 30 |
| 9 | 56 | 35 | 34 |
| 10 | 32 | 34 | 33 |
Again, the data comes from Calculated Risk.
A few thoughts.
- You can argue all you want. But this is the market. By the numbers, I want to reach 26, 27, 25 and 28-year-olds. My lovely age of 46 is nowhere on the list!
- How well do you understand this group of Americans? How can you improve your understanding? Again, they are the market.
- Do these ages match the most common ages of your credit union's members?
- Now, remember that these are national numbers. What are the numbers for your field of membership?
- When you are making decisions about the future of your credit union, would this kind of data be useful to review?
Data, data, and more data. Those who understand it and can use it will have an edge on everyone else.
Have a great Wednesday, everyone!
- Anthony