Nobody wants to fend off calls from collectors. Not only are those phone calls notoriously ineffective, but they also seriously annoy consumers… and often damaging their relationships to associated institutions.
What percentage of your members have only a checking/share draft account? How many members have indirect auto loans through you, but nothing else?
Content marketing is a kind of marketing strategy designed to attract and nurture inbound leads. It relies on maintaining a consistent and prominent online presence to show up in peoples’ internet searches. Can credit union content marketing work?
Few credit union marketing strategies are exactly alike. Each credit union fills a unique niche and appeals to particular local community. Each credit union offers something that other financial institutions near them don’t.
With quickly evolving technology and the popularity of online and mobile banking, traditional marketing avenues are changing as well. Content marketing can help credit unions reach prospective members who turn to the internet first to gather information about companies, products, and services that interest them.
In a perfect world, the reputation of any given credit union would precede it, and people would flock from far and wide to join. Not a dime would be spent on marketing.
Unfortunately, it’s not a perfect world. Any credit union growth strategy is going to rely on marketing for brand recognition. The real question is, how much does a new member cost? And, just as importantly, is it worth it?
For all the talk of member loyalty, there’s a surprising lack of focus on young members. No, not Millennials, who are turning 40, and no, not even Gen Z, who are in their 20s.