I recently had the opportunity to appear on CU Broadcast with Mike Lawson to discuss 2018 marketing trends. During that show, we talked about what top issues are effecting credit unions as they prepare for the upcoming year with their marketing efforts.
We specifically talked about the three “Ls”
- Live your brand through emotional connections—We are in a commodity business and the only way to not be a commodity is to connect with consumers. We have to shift from being transaction based (or even service based) to being advice based. In other words, your people can’t be order takers. Financial institutions even think service is great and is a differentiator. It’s not. The reality is advice is much deeper.
- Look at your marketing through a marketing audit—If you don’t change your marketing in 2018 you risk becoming irrelevant. You must look at your marketing from an outsider’s or consumer’s view. And one of the best ways to gain that perspective is through a marketing audit. In fact, more and more credit unions and banks are conducting marketing audits because they are seeing immediate strategic and tactical benefits.