In 2023, credit unions are seeing lending slow and deposits drain. The interest rate environment is the top concern for credit union leaders for 2023. The cost of funds is up, and profitability is feeling the pinch.
What does that mean for credit union marketing leaders in the second half of this year? Continuing to elevate key areas of focus, and not waiting for another annual planning and budget cycle to make it happen. Better reporting to ensure the best possible ROI, tailoring messaging to consumers’ wants and needs, and laser focus on choosing the best bang for their marketing budget.
Here are 5 shifts to ensure your credit union marketing can still drive needed results this year:
1. Leverage data analytics for smarter decisions AND to prove ROI
Executives that are accountable for delivering overall results for their credit unions are looking for more in their reporting packets than page views. The old adage that we know half our marketing works, just not which half, won’t cut it anymore.
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