Why credit union branch staff drive referral business

Recently, we surveyed more than one hundred community bank and credit union marketers across North America to get their input on the state of credit union marketing in 2016. The marketers who responded overwhelmingly agreed on the best marketing channel and the best method for attracting new members: word of mouth referrals, otherwise known as referral marketing.

Why Choose Referral Marketing

The vast majority of the marketers that we surveyed reported that managing and using a referral marketing program was relatively easy – which is true. Whether hosted manually in-branch, hosted by an out-sourced agency or operated through an off-the-shelf piece of software, referral marketing programs are consistently one of the least expensive and easiest marketing channels to develop, implement and manage once the program goes live. A referral program will generally require minimal involvement from the I.T. department and training front line staff to use the program is usually a pretty quick task to complete. Referral programs are also relatively simple to market as most of the marketing and promotion for the program will be done by your existing branch members!

continue reading »