The laborious process of applying for industry awards can prove stressful and painstakingly long for credit union marketers. They may not consider the countless hours of drafting and editing award nominations the most enjoyable work, but the euphoria that permeates throughout the organization after winning makes it worthwhile. Awards play a key role in feeding the public relations and marketing engine, which supports the credit union’s overall business goals. When utilized correctly, awards serve as tools to attract new members, inform existing members of organizational leadership and innovation and strengthen the credit union’s brand.
Bring on the New Members
Consumers often mistakenly assume credit unions are unable to handle all of their financial needs. As we know, this is not true. Awards geared toward success in innovation, leadership strategy or even size can provide great opportunities to dispel this myth. Receiving an award or honor creates a natural “moment in time” to launch marketing activities aimed at attaining new members. Marketers could write a blog to share across popular social media channels like Facebook, Twitter and LinkedIn, or host a small pop-up event in the community. Winning an industry award (or even being recognized as a finalist) gives credit unions new opportunities to demonstrate why they are the best option for potential members who are looking for a financial services partner.
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