It’s that time of year again. Time for credit union marketers everywhere to complete their marketing plans for 2018. But, if you begin and end your plan by simply retooling the previous year’s plan, sooner or later you’ll end up marketing to the sound of crickets. Gone are the days when you can rely on the same old marketing plan and expect it to reap meaningful results. Today, if your credit union marketing efforts are not revolving around member experience, providing seamless channel coordination, and leveraging data and technology, you’ll lose market share.
Credit Union Marketing By The Numbers
Did you know:
- 68% of marketers feel their company is increasingly competing for the customer experience.
- 52% of consumers are likely to switch brands if a company doesn’t personalize communications to them.
- 71% of minutes spent online in the U.S. are accessed via a mobile device.
Those are some meaningful numbers that you can take advantage ofto help guide your marketing decisions in 2018.
3 Ways To Improve Member Experience
Let’s take a closer look at those stats and see how your credit union can use them to improve member experience – and marketing – in 2018.
If 68% of marketers feel they are competing to provide a better, more meaningful customer experience, ask yourself how your credit union can add value to your members. One idea is to use tools such as transactional data mining, tracking member insights and analytics, and executing onboarding and reboarding campaigns to create a better member experience.
In the same vein, if you know that 52% of consumers are likely to switch brands if a company doesn’t personalize communications to them, by all means make it a point to personalize member experience in 2018. Credit unions have access to an enormous amount of personal data that pertains to their members. Using core, transactional, or ACH data (to name a few), credit unions can target communication to reach select members with the right offer at the right time.
With 71% of minutes spent online in the U.S. being accessed via a mobile device, it’s vital to make sure your mobile member experience is all that it should be. Just as importantly, members now expect that no matter how they are connected, whether it is by desktop, mobile app, social media, etc., their brand experience remains consistent. In the past two years, video advertising, texting, apps, sponsored content, and video are a few channels showing rapid growth.
Knocking Your 2018 Marketing Plan Out Of The Park
Getting a jump before the next calendar year begins is the best time to investigate new ways to improve your marketing plan. We can help. We’ve prepared a 2018 Marketing Guide with 7 Tips that will provide insight to help you increase loan growth, product penetration, and ROI.
And For Some Added Inspiration:
Sharing traditions, giving to others, and indulging in special treats are a few themes recognizable this time of year. Click here to find out how one credit union incorporates these themes in a yearly marketing campaign called “A Season of Thanks”.