Abandon ship? Why frequency is your brand’s lifeboat

When a credit union leader says they want to do a short run on a campaign, my initial response is, “Are we swimming or treading water?” Unfortunately, too many credit unions are only looking to dip their toe in the water. Let me explain.

As someone who lives in the Carolinas, I’m very aware that FanDuel and DraftKings have arrived in North Carolina. With the legalization of online sports betting in the Tar Heel State on March 11, these two powerhouse brands blitzed almost every streaming and media service provider imaginable over the past 60 days leading up to the deadline, including pre-registration bonuses and influencer marketing.

Of course, the key to their short run campaign was frequency. And, oh boy, have both FanDuel and DraftKings poured a ton of money into acquiring new customers during the initial launch phase.

By contrast, we know of a credit union in the Rocky Mountains region of the United States that identified a new market two hours away from their homebase in another state. They boasted that if a FinTech can enter a new market without a physical branch, so could they. They talked a good game with an “all in” attitude. Unfortunately, their strategy and budget said otherwise.


continue reading »