Michigan First Credit Union knows how to make headlines – literally.
When Bank Innovation spoke with the $620 million financial institution about its credit card overhaul earlier this week, we discovered a very cool initiative that shows off the credit union’s editorial sensibilities: Young & Free Michigan.
Like any online editorial website, Young & Free Michigan, which first debuted in 2011, publishes relevant content to a specific demographic. The website’s content mission to date centers on young adults, such as publishing pieces like whether it’s better to buy or lease a vehicle or where to go on inexpensive dates. The content is “practical advice that appeals toward the 17-to-25-year olds,” Linda Douglas, vice president of marketing, tells Bank Innovation. “We try to entertain them more than market to them.”
Plus, the site has an appointed spokesperson, who blogs daily, makes videos and represents the credit union at events, even arriving in a MFCU-branded car.
The next lifestyle content to launch within the next two months from Michigan First will focus on 25-to-35-year olds, Douglas tells Bank Innovation.
Michigan First’s editorial effort points to a growing trend of brands creating content to deepen their audience engagement. Indeed, this theme was at the forefront of discussions at a June investor event that centered on the future of digital media.
“Content makers are key to this world,” said John Lack, chief partner at FireMedia Partners and Founder of MTV, Nickelodeon and the Movie channel, during a panel.
Brands “should think like publishers,” added Anthony Batt, president – Katalyst Network at Buzznet/Buzzmedia.
We imagine more institutions will embrace their inner editors to hijack and/or create content to build up their names, especially with their personal finance management efforts ramping up — and quite a few are. Take Wag Bank, for example. The online venture, which offers content on personal finance and dogs, is the brainchild of Jeff Stephens, who plans to introduce banking services into the mix in the next year or so. Wag is part of a greater initiative of Tribed, Stephens’s company that will launch online-only ‘direct’ banks to targeted communities. Mercantile Bank of Michigan, for another, is playing the role of entertainment journalist by offering content, such as funny videos, which engage with its customers.
“Don’t be afraid to talk about things that have nothing to do about banks,” David Tilley, creative media specialist, tells Bank Innovation.
As does Huffington Post.