The Pull Strategy: How To Engage Members

Have you ever heard of the Push & Pull marketing strategies? “Push” is when you advertise and display what you have to offer without interacting with people, and hope they will knock on your door. “Pull” is when you create a demand from consumers, and let them request your service voluntarily.

by. Tom Kazar, Transamerica Financial Solutions Group

Have you ever heard of the Push & Pull marketing strategies? “Push” is when you advertise and display what you have to offer without interacting with people, and hope they will knock on your door. “Pull” is when you create a demand from consumers, and let them request your service voluntarily. How would you attract   new members to your credit union, besides advertising, using the “pull” technique?

Referrals: As opposed to big corporate financial institutions, local credit unions are always more friendly, intimate and caring. Customer satisfaction is generally higher, so why not translate this into something more? Encourage your loyal members to refer their friends. The best members are already active advocates for you, the rest of those who are satisfied with your service just need a small incentive: gift cards, cash, and electronics never disappoint. Your employees are another source of referrals. If they are happy with their employer and strongly believe in your service, they will not hesitate to include their families and friends.

Education:  Some consumers do not know the benefits or differences that credit unions have over larger financial institutions. They may never have considered any other options because they are simply afraid of change. However, when exposed to superior service and given the right treatment, these consumers will have extremely high loyalty. Also, positioning yourself to be a knowledgeable source for financial advice will remind people of who to turn to when they have questions.

Engagement: There are several ways to enhance your presence in your community. Give out water and towels at a high school football game, help walk dogs at a pet shelter, contribute to churches in the area, sponsor a local cause, or participate in a park clean-up – all will bring a positive image to your credit union while creating a mutual relationship with people in the neighborhood.

These are just a few ways to attract new members.  It takes many tactics to build a successful following.  Stay aware and look for opportunities all around you to build awareness of your credit union and what you have to offer.