Credit Union Marketing Psychology and Effective Copywriting

by Bo McDonald

Before you read this post, take a moment to look around at the marketing materials in your credit union and those pieces out in public right now. What is the message? Is it focused on what the credit union can offer, or what the member needs?

The volume of marketing coming at people today is like water pouring out of a fire hose, aimed directly at a little paper Dixie cup. It’s more than the mind can possibly handle.

Research shows that one person sees about 300 advertisements each day. Another study claims that number is as high as 3,000 per day. Regardless, even using the lower number, consider the fact that your ad is one of hundreds a person sees. What are you doing to get your message to stand out?

“A word is like a key.” wrote Harvard Psychology Professor Stephen Kosslyn about the essential elements in language skills. “When a word unlocks the correct stored memories it is insightful” Kosslyn said.

Kosslyn’s research provides a powerful understanding of the psychology of marketing. Does your marketing cause the reader, viewer, or listener to imagine they personally experience and benefit from your message? In other words, the person targeted by your ad must be an active participant in your marketing.

Peter Drucker once said: “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”

continue reading »