What Credit Union Marketing Automation Is and Why It Matters

Believe me, we get it: marketing efforts can lead to headaches. Nobody likes getting cold calls, most people mute (or skip) commercials, and pop-up ads are the worst. However, credit union marketing automation is far more sophisticated—and less intrusive—than those marketing strategies.

Not all traditional marketing strategies result in headaches, though. Content marketing, inbound funnels, social media, and even email campaigns are much lower impact. Modern credit union marketing automation is built to take advantage of these newer strategies.

Read on to learn more about what marketing automation is, how it works, and what it can do for your credit union.

What Can Automated Marketing Do that I Can’t?

The less-effective forms of marketing above give sales and marketing a bad name, and it’s easy to see why. Cold calls, commercials, and pop-ups are rarely relevant to the people who see them.

On the other hand, credit union marketing automation platforms are much smarter about advertisements. They track the what people search for and read on your website. They look for things like:

  • Which pages are visited
  • How they arrived there
  • How much time spent reading
  • Where else they looked
  • When people open emails

Marketing automation tracks digital engagement in your brand. It provides quantitative analysis of all online interactions, from your website to your social media accounts.

With that information, automation platforms can begin targeting those site visitors with nurturing campaigns. These are small outreach efforts that are designed to “stay in front” of interested members. For example, if someone visits your website and looks at auto loan rates, a marketing automation platform could be set to send that visitor a couple follow-up emails. Those emails might feature blogs about how to get the best deal while car shopping, an infographic about leasing vs buying, or an offer for a low introductory rate.

The visitor already self-identified as a prospective auto loan target. Any further outreach will be about auto loans or related services. It’s all relevant!

And with no work on your credit union’s part, the marketing automation campaign will continue reaching out to the interested visitor if they stay engaged.

Lead Scoring

Marketing automation tracks visitor interaction across your digital platforms. It monitors their activity with your credit union, granting you granular insight about individual engagement with things like

  • Social media
  • Email
  • Your website
  • Other websites or web activity

After collecting enough data about your members’ habits, needs, and wants, you can gain a clearer picture of what makes them tick. It’s much easier to identify which of your products and services are relevant to them.

Plus, marketing automation assigns values to different kinds of activity. Those values are added up as visitors continue engaging, which creates a lead score. Higher total scores indicate a more interested visitor.

For example, opening an email might add five points to a lead score. Clicking through might add fifteen. Visiting a blog might add ten points to a lead score. Filling out a form on that blog might add twenty.

Marketing automation can help you figure out which visitors and members are most interested in your services. If they have sufficiently high lead scores, you can target them for further marketing or a sales call. Good lead scoring ensures that by the time you reach out, you’ll know your lead is interested.

Who Really Benefits Here

After you understand more about your members’ digital engagement habits and preferences, you can direct marketing to them on their terms, on their preferred platforms. Plus, with lead scoring capabilities, you’ll be able to increase or decrease your efforts as necessary.

Oh, and the best part? That’s all done automatically. Lower effort, higher reward. Credit union marketing automation software streamlines and optimizes the relationship between credit union and member.

1. How members benefit from marketing automation

Nobody wants to ask their doctor if—I don’t know… Drifexia?—is right for them. It’s probably not. Similarly, your college student members don’t care about your credit union’s mortgage rates. Members looking to finance a new car don’t care about your great boat loans.

Using marketing automation, you effectively let your members tell you which services they care about. If someone is looking at credit cards on your site, the automation platform will send them only content about credit cards. That helps your credit union provide value to your members by helping them find more information about their interests.

If someone is demonstrably not interested, the automation software understands that and backs off.

2. How credit unions benefit from marketing automation

Marketing isn’t always easy. Sometimes credit unions feel that they are simply throwing money into a void and hoping for the best. Other times, credit unions have to take wild guesses about where to advertise, and to whom. That can feel like taking aim and pulling the trigger without a target.

Marketing automation software paints the target for you, and then it tells you when to fire.

Ultimately, the benefit to the credit union is that they gain a better understanding of what to advertise, who to advertise to, and when to do it.

Is Marketing Automation Right for Your Credit Union?

Bringing automation into your marketing practice represents a major shift in marketing approach. You have to be ready for it, both technologically and culturally. However, for a little more work up front, you can drastically increase efficiency and efficacy down the line.

Relying on traditional marketing strategies can certainly work. After all, it’s gotten us this far. Still, a robust marketing automation suite can drastically reduce:

Marketing automation software is the best way to begin understanding not just the needs of member segments, but of individual members. It also takes a lot of the work out of the whole thing. Instead of manually configuring and starting workflows, the software can do it instead.

To learn more about credit union marketing automation, strategy, and fintech partnerships, follow the links below!

Credit Union Marketing in the Digital Age

Email Marketing vs Marketing Automation for Credit Unions

On a related note, CU2.0 is SharpSpring certified and would be happy to offer a demo!