How smaller institutions can digitally “Get In” with young consumers
by. Brian Ramos
Many credit unions have struggled to attract younger consumers. Has that been the case for you? It’s understandable considering just how much money the big banks have put into technological innovations. If you feel as if you’re just too far behind the curve, don’t. There are advantages to being small but you have to have an overall marketing approach to break through to this audience.
Having marketed quite a few smaller credit unions to this audience, it’s been our experience that you have to be willing to have focus, have a cohesive plan for what makes your credit union unique and make sure that all of your communications efforts align with that. Do you do Online Advertising? You should. How about Search Engine Marketing? It provides the ability to closely track campaign success with strong analytics. What about your website? Does it tell your story effectively or is it a “me too” site that looks and acts just like nearly every other banking website? When we talk to most credit union executives, they feel confident that they can convert a new member if they come into a branch, but do not feel the same way about their ability to convert a member through their website. Why? Many times, the content on their site was never designed to tell a story or lead someone down a path. Pages were written as silos defining a specific product, without considering how they might relate to other products and services offered. Even worse, most credit union websites have many pages without a clear call to action: Chat with a Representative, Email to a specific department or individual based on the product, Open an Account Online (provided you have this), Call one of our Member Representatives with the phone number clearly displayed. Too many times these calls to action are simply placed under “Contact Us” rather than being prominently displayed on every product and service page.
The good news is that all of the steps you need to take are reasonably simple, as are the investments to implement much of them. It simply comes down to a focused effort and commitment to garner traction with them. Are you ready to take the steps? If you don’t know where to start, the Pod can help. We’re always willing to provide advice to credit unions. Isn’t that the mantra: “People helping People”?continue reading »