From Tulip Mania in the Netherlands in the 1630s to fidget spinners in 21st-century USA, fads and economic bubbles throughout history have demonstrated the financial power of social norming. The science of social norming states that our behavior is influenced by misperceptions of how our peers think and act – so if we believe that everyone we know is buying fidget spinners, we will too. Thankfully, social norming through group experience can be used by your financial organization for more positive ends: by bringing creative K-12 financial education to schools, you’ll be able to connect to students who bring your messages home to their parents – your present and future customers.
There are countless reasons why financial literacy education has become more prevalent in recent years: it can supercharge your brand reputation, inform customers of new banking and financial trends, and fulfill the industry’s duty of social responsibility, among others. But there are also challenging obstacles to providing financial education, like the time and labor involved in developing effective programs and the inability to measure ROI.
That’s where NTC comes in. Since 1978, we’ve provided award-winning K-12 education that engages and inspires students – and social norming through group experience has been the backbone of our programs all along. When your organization supports K-12 financial literacy education, it has the chance to provide a shared experience that can convince an entire school full of students (and teachers) that smart money habits are desirable and popular. And when kids bring that newfound excitement home to their families and communities, your organization’s education program can really take off.
Watch our innovative animated video and download the free printable infographic to see how NTC’s creative educational programs use social norming to make a bigger impact. Since 2010 alone, we’ve reached more than 6 million students at over 18,000 schools in 44 states. Find out how we can provide that kind of unparalleled outreach for your financial organization.