Associations Need To Know What Keeps Millennials Up At Night
By Jodie Swee
Do you know what keeps Millennials up at night? It’s not spiders, werewolves or clowns that haunt their dreams…it’s debt. On average, Millennials carry $34,000 of debt. If your association is not spending a significant amount of time talking about this, you’re missing a great opportunity to engage and recruit young members. Here’s why:
Unlike Baby Boomers, who came of age during the most prosperous time in American history, Millennials don’t have money to throw around for the sake of attaching their name to it. Millennials have less so they are more careful about what they spend it on, especially when it comes to joining an association. They want to know that they are going to get something for their investment, and it has to be more than an opportunity to network. They can network for free on social media. What does your association offer that is relevant to them and they can’t get anywhere else?
A sure-fire way of understanding what’s relevant to potential members is to know what keeps them up at night. One of the most important reasons members join associations is to help them solve problems. The majority of Millennials will tell you that they are haunted by debt. Therefore, your association has a great opportunity to be relevant to a new generation of members by engaging in debt problem-solving.
What can your association do to help Millennial members be free from the ghost of debt?
2017 Press Briefing: Household Borrowing, Student Debt Trends and Homeownership
Are Young Americans Ashamed of Their Debt?
Millennials and the State of Debt: Is There Hope?
Poll: Majority of Millennials are in Debt Hitting Pause on Major Life Events