Top 5 Tips for Brilliant Credit Union Marketing

Craig Kazda  |   May 9, 2016   |  Posted in Content Creation

Each day credit union marketing teams sit down to strategize how to get the best results for the most economical budget.  Credit union marketing covers a vast amount of topics and channels and there is no single answer for success.  However, if your team works to constantly monitor and improve its strategy, results will come.  Here are some tips and techniques to help get you started on the path towards brilliant marketing campaigns.

Embrace Digital Marketing.

The Internet has revolutionized the way that financial institutions communicate with members.  While some have been slow to adopt these newer channels, credit unions that forge ahead will reap the rewards.

The foundation of your digital brand is your website.  Invest in making your website the best possible representation of your brand, as well as an active sales tool.  Potential members will often visit your website before your branches, so your site needs to make a stellar first impression.  Is your current website mobile responsive? Meaning your website adapts and condenses to properly display a mobile devise, such as a smart phone or tablet.  An InMobi report found that 60% of all Internet traffic comes from mobile devices.  This means that the majority of visitors are viewing your website on a small screen.  If your website is not specifically designed to adapt to these different screen resolutions, chances are that these visitors will become frustrated when they try to navigate your site and leave.

Consider integrating personalized user experiences in to your website.  If you have a new branch opening in a specific zip code, have your website show a graphic advertising the new branch opening to web visitors who are accessing your site from that zip code.

Digital marketing extends far pass your website, to a variety of channels.  Research which channels work best for your brand and create consumer-centric messages that work with this omnichannel method.

Content is King.

Content marketing relies not on shouting out a product-centric message to a large number of members, but by creating remarkable content that makes consumers want to interact with your brand.  By creating content that has value to your members, whether educational or newsworthy, you will establish yourself as a trusted financial resources. Content can be created to fit a vast number of channels in a variety of formats.  Popular ways to distribute content include:

  • Blog posts
  • Emails
  • eBooks
  • Infographics
  • Videos
  • Whitepapers
  • Educational seminars

Content should follow the 80/20 rule, that 80% should be educational and only 20% should focus on self-promotion.  Regardless of the content type, if you’re creating valuable content, promote it.  Digital ads are expected to overtake traditional TV advertising by the end of 2017.  Use your marketing budget to promote your content through digital advertising and reap the benefits.

Focus on Personalization.

Personalizing marketing messages is one the best tips to increase results.  In order to personalize, you must first understand who your member is.  A popular way to do this is to create buyer personas that are representative of your ideal members.  You can then create marketing that appeals directly to them.

Many marketing teams are now using generational techniques to create campaigns that target specific age groups.  You can also retarget your digital advertisements based on who has visited your site.  If a member visits your credit card online, have a cookie placed on their browser so that when they leave without signing up, an advertisement will follow them to whatever website they click to afterward.  This technique helps keep your brand at the top of their mind, and increases the likelihood of them revisiting your site.

Invest in Analytics.

Analytics can be used to not only measure the results of existing campaigns but also to predict what marketing strategies you should use in the future to get the best results.  Your team should invest in three major ways:

  • Collecting raw data across all channels
  • Reviewing that data to find meaningful connections
  • Using those connections to better leverage future marketing campaigns

If you use this data effectively, it will help you increase revenue and lessen the risk when trying new marketing strategies.

Get ALL Staff on Board.

Too many times the marketing department will create a brilliant campaign, but fail to work it into the base level of their sales channels – their employees and co-workers.  Whenever you create a marketing campaign, a promotion, or any other sales tool, make sure that everyone in the credit union is not only aware of the campaign but has an active role in achieving its success.  Create cross-selling guides for the front line of employees to accompany marketing campaigns.  Employees are one of the best resources a marketing team has, so make sure to get the most bang for your buck by having every staff member actively play a role.

These five tips for brilliant credit union marketing all revolve around creating consumer-focused marketing rather than product-focused.  If you’re able to understand what your member wants and create content that is leveraged across appropriate channels, you will see success.  The next time you sit down to discuss your upcoming marketing strategies, make sure to think about how you can leverage these tips to achieve brilliance!

For more tips on how to increase membership at your credit union, get our free guide to The 30 Greatest Lead Generation Tips, Tricks, and Ideas today!

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Craig

About
Craig Kazda

Craig facilitates the execution of each project from start to finish, helping you convey your vision and bring it to life. Craig’s primary objective is to make certain that all of your needs are addressed throughout the project, from detailed technical specifications to assisting with collecting assets. This allows the staff of Quantum Dynamix to focus on what they do best; creating innovative work that meets your objectives.