As Inbound marketers, we use blogs, social media, emails, great content and SEO to attract, convert, close and delight new customers. Many traditional sales and marketing staff members are skeptical that Inbound marketing for credit unions is an effective way to retain and grow membership. But for our clients we've seen that those who incorporate these techniques are getting some great results with new member growth and cross selling new products and services to existing customers.
Ready or not, it's a millennial world; the rest of us just live in it. Millennials are those people born between the years of 1977 and 2000 and they now comprise 25% of the U.S. population. They also make up 21% of consumer discretionary purchases, estimated at over a trillion dollars of direct buying power. Some other important facts about millennials also include: 46% say that they have over 200 friends on Facebook 56% say that they are an early adapter of new technology They are avid content users and creators and post videos and photos they create 80% wish that companies would entertain them
This e-Book will help you find the best ways to maximize your digital presence, reaching new potential members while increasing your share of wallet for existing members.
This year we ran a 'Back to School' email nurture campaign for one of our clients. The main goal of this campaign was to get people to the credit union's website and promote all the great content the CU has to offer their subscribers and members. The results were out of this world! Take a look and see if there's some ideas you can implement for your own credit union marketing. Email 1 Subject: [3 Blogs] College, Credit Card Spending & Beyond Sent: Wednesday @ 5:41PM - 15.28% Open Rate This email was sent to their entire email list - over 20,000 people. Most of these contacts are current members, but some are contacts from eBook downloads or blog subscriptions. The open rate was a little low, but we were thrilled that 63% of the people who opened the email actually spent time reading the ENTIRE email. This almost never happens!
We've put together 10 quick tips to maximize results from digital marketing for Credit Unions! 1) Update Your Website: If it has been more than 5 or 6 years since your website has gone through a major update, this should be your first priory. Banks and Credit Unions will invest on average over a million dollars to build a new branch and consider it an asset. Yet, any money spent on their website is considered an expense. With branch traffic declining and mobile traffic on a rise Credit Unions should change this kind of thinking and consider their website a digital asset. And every asset needs maintenance!
In all industries, business owners are faced with the possibility of having a negative review or comment online about your products or services. Credit unions are certainly not immune to this possibility. For this reason, your credit union marketing plan must include a document that describes how to respond to negative comments online. Whenever we start working with a new CU, we have a checklist of items that we review and update on the institution's Facebook page. More often than not, we see that visitor posts and/or reviews are disabled and the reasoning behind this decision is (understandably) a fear of receiving a bad comment or review. But this is the exact reason every credit union SHOULD allow people to post and share, and here's why!
Marketing plays an essential role in any credit union strategic planning session. It's the marketing that gets your message to the masses, which in turn leads to growth. Do you have an innovative new product or service? If nobody hears about it, nobody will care. That's failure, and it's not an option. If you want your credit union to standout against the competition, make sure you incorporate these successful marketing techniques into your yearly credit union strategic plan.