Credit union marketing missteps

by The Financial Brand

by. Mark Arnold

eve_hernandez“People like creating marketing materials that appeal to them personally — i.e., ‘I like ads with dogs’ or ‘I don’t like that shade of green.’ They also react to competitors’ advertising too often — ‘Well, XYZ Financial has 10 billboards across town.’ Those are two of my big pet peeves. Financial marketers should focus on specific business goals and not be pressured to act upon personal tastes that don’t meet strategic objectives.”

— Eve Hernandez, Senior Marketing Executive, River City Federal Credit Union

renee_mckee“A couple of things come immediately to mind that many may be guilty of: not taking enough risks, and not differentiating their brand. Another common mistake is pushing products when financial institutions should be creating conversations, providing solutions and enhancing the customer experience. “

— René McKee, VP/Marketing & Community Relations, California Coast Credit Union

kevin_stang“One of the most common mistakes made by marketers is we forget to measure. Let’s face it, marketers are not numbers people! Not many marketers will dive into their primary data and profile households opening/closing accounts, trend product growth, or map channels and branches to account activity. It is much easier to implement targeting strategies, ideas from some case study, trade publication, or conference presentation.”

— Kevin Stang, Strategic Consultant, Raddon Financial Group

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