Marketers at credit unions share a struggle faced by those working at community banks: competition from large banks with deep pockets that may have sophisticated digital offerings. The good news for credit union and community banks is that they can effectively compete by articulating the unique value they provide over megabanks — which starts with great marketing content.
Content that does more than advertise rates and services can go a long way toward catching consumers’ eyes and driving them to take action, whether it’s referring friends in need of a loan or submitting applications themselves. Focusing on and implementing interactive content, which by its very nature fosters engagement, is an important first step to winning people over.
You’ll want to share content that poses open questions and dialogue to both draw prospects in and inspire them to take action.
Here are five ideas to help credit unions and community banks improve engagement with prospects and existing customers.
- Get interactive. Content that provides the reader/viewer/recipient an opportunity to interact with the medium is key to engaging marketing. Digital/online tools like calculators (for everything from growth of funds over time to auto or home mortgage loan payment versions) provide a service to consumers and contribute to building loyalty and high response rates.
- Make it fun. Landing pages and interactive videos allow a user to discover their own path by clicking on available options and outcomes. Consumers who are selecting their own questions vs. being “talked to” are more likely to trust your service offers and take action.
- Play around. Games geared to inform prospects of basic facts and features of financial products make credit union marketing strategies fun for you and your prospects too. Consumers who engage with your content in a fun and dynamic way are more likely to benefit from the information and utilize you for financial products and services.
- Be responsive. Another credit union marketing strategy that’s more conventional, yet still fosters engagement and business development, is to trigger a direct response in order to receive a benefit. For instance, they can enter their email for a free download, such as a moving guide checklist. This can be easily handled through a well-equipped CRM system that provides online response forms. A simple discount, a special interest rate, etc. — any option that can be handled this way and helps to get prospects to respond or inquire is a strong engagement strategy.
- Be real. Today, credit union marketing strategies need authenticity. Consumers are bombarded by offers everywhere they turn and are quick to tune out anything that doesn’t resonate with them. Savings accounts, car loans, Christmas clubs, home mortgage loans — these are all things we may need at some point. The difference you can make is to share that fact in a truly compelling way. Telling stories, sharing difficult situations, evidencing problem solving, or, if you are marketing as an individual, even describing personal scenarios to hit home with those experiencing similar circumstances. Everyone can relate to and engage with true human experiences. That type of honesty can really draw far better response rates and engagement than generic marketing with stats and generalities.
While the credit union marketing strategies shared here may seem daunting, particularly if you’re short staffed or lack the resources to pursue them, fear not. A good CRM system such as Surefire℠ CRM and Mortgage Marketing Engine provides not only the nuts and bolts to market to your prospects and clients but also the ready-made tools, calculators, holiday messaging, interactive web pages, response forms to trigger automated marketing campaigns and more. Simply click here for a Surefire demo today.