Competing against large, national banks’ seemingly endless marketing budgets and strong brand recognition for consumer market share continues to be a primary focus for credit unions. With all the marketing noise out there, getting the attention of prospective members can be a daunting task. In fact, many organizations either put marketing and PR on the backburner or completely eliminate it from their business plan altogether. Doing so is dangerous.
Successfully winning over new members requires strategic planning and a solid public relations program with an emphasis on thought leadership articles and blogs, media relations and member testimonials.
It is critical that credit unions position themselves as thought leaders within their communities and the financial industry. When looking for a financial institution, consumers tend to prioritize the ones that share their values and provide trustworthy financial education and guidance. Positioning your credit union as a thought leader in these areas will help attract new members to your credit union.
It is also critical to be viewed as an expert. If your credit union seeks to be a leading provider of mortgages for military families or competitive loans for famers needing agricultural machinery, be seen commenting on issues that affect these groups. Publish articles and blogs that discuss the issues important to existing and prospective members.continue reading »