Two of our Social Stairway team recently attended Brewing Marketing Success and Sales. We had a great time; there were many amazing speakers and we learned some great tactical tips and strategy ideas. The first speaker was Bob Ruffolo, CEO of IMPACT Branding & Design. In his presentation Bob shared some critical elements to growth... we adapted his points to our niche, so here's four keys to Credit Union Growth!
As many of us know, the daily life of the average person has changed drastically in recent years. People are spending more time on their mobile devices and online than ever before. Sure, people still recieve and check their actual physical mailboxes, but can direct mail really compete in this new digital world? Here's why we recommend that for better Credit Union growth you should ditch direct mail and go 100% digital! #1 - It's Expensive In this boundless digital world, you no longer have to fight for physical space like you did with print advertising. The fact that space is unlimited means that the costs are low and Return on Investment (ROI) is high. Many studies show that Direct Mail is in fact still effective, but the major problem is the COST. And we all know that Credit Unions MUST watch their budgets very closely!
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.
Originally written as a guest blog for CUInsight: Looking for a better way to plan for growing your Credit Union? Here’s 6 full-proof steps to ensure your next sales and marketing plan is a resounding success! 1. Start with the BIG Picture in Mind... As you design your quarterly or annual goals and objectives, make sure you circle back to your CU’s strategic plan. Then everything your marketing and sales teams do should be working together toward a unified BIG picture. So, for example, if one of your strategic objectives is to grow deposits by $100 million within three years, your teams need to focus on cross-selling deposit accounts to current members while also targeting new populations.
It takes a lot of trial and error to find ways to effectively engage your members and community on social media. We've helped our clients host many contests - and seen them hosting their own contests - some were great and some missed the mark. Here are 5 credit union marketing ideas that were a big success for us and will help you engage with your members online! 1) Get to Know You Customer Day The third Thursday of every quarter is "Get to Know Your Customer Day" and in honor of this you can create a small giveaway contest for your members. All you need is a few small prizes (i.e. $10 gift cards to Dunkin Donuts) and a few questions you would like to be answered by your members.
It's important for Credit Unions to seek out new and better ways to engage with members, especially now that fewer and fewer people are visiting branches in person. Facebook is a great place to reach out to your members on a daily basis and is a platform they are already using. These interactions help build relationships and trust with members, and to remain top of mind as they go about their daily lives, which is essential to better grow your CU's share of a member's wallet.
Don't Share Products, Share Stories In today's digital age, consumers use on average 8.9 sources of information when making banking purchase decisions. But what is still their most influential source?... Human interactions, including talking in person with a financial representatives and referrals from friends and family. Members and potential new members don't want to be sold to via social media. They want to build relationships with people, they want to connect with friends and family. Members are looking for real, suthentic engagement. And Credit Unions can have a place in this kind of interaction, through storytelling.