Five marketing red flags to avoid
There are common marketing mistakes that are easy to fall into no matter how many years you’ve been in the business. I call these red flags.
When you see red flags anywhere, it’s a time to stop. Not slow down. Stop. Not be cautious. Stop. Not go another direction. Stop.
When it comes to marketing your credit union or community bank, you should never stop. However, there are things in marketing you might be doing that are actually red flags. Actions or practices you should stop.
If you are not growing at the rate you desire or if you are not hitting your goal numbers, oftentimes it’s a marketing challenge. If you want to have better results, the answer isn’t to market less, it’s to market more. In fact, a recent article in CUInsight noted that increasing marketing expenses by just 0.1% of assets on average increased asset growth by 0.82%. However, marketing must be done correctly. And that means avoiding certain traps.
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