As more and more credit union marketers shift their marketing funds from traditional channels to digital channels, it is important that best practices be observed. Here are eight best practices that can maximize your credit union marketing strategies:
Traditional channels still work
It is important that traditional tactics not be entirely abandoned. Many credit unions continue to report strong results from traditional channels.
“Traditional media is by no means dead,” said Bo McDonald, president of Your Marketing Company. “We have a credit union that successfully uses traditional radio as its main driver of traffic. It really comes down to specific markets and the marketing messages.”
An integrated approach of digital plus traditional is likely the best policy for your credit union marketing. Don’t throw the baby out with the bath water.
Effective landing pages are essential for credit union marketing
A Gartner survey found that 51 percent of companies planned to increase their digital marketing budget by 17 percent on average in 2015. But digital is by no means a magic bullet. To get the most impact from your combined digital and traditional ad dollars, your credit union marketing must include strong digital landing pages. An effective landing page includes a headline and visual that matches your originating ad, spot, e-blast, etc. It should also include a time-sensitive offer, a clear call to action and a prominent lead-generating form.
Know your brand
Can you describe your brand in one sentence? If you can’t, then your traditional and digital marketing will likely be all over the place. Determine your credit union’s brand message, tone and look, then police it relentlessly in every deliverable. This is the only way that your marketing will be cohesive and impactful.
Invest in SEO (search engine optimization)
Your credit union’s website should be more than an online brochure. It should be a fully optimized “salesperson” solidly networked with the major search engines. Giving your old website a facelift is all well and good but unless you are investing in SEO, your pretty new website will have only minimal selling power.
Financial marketing is a relationship
Banks and credit unions are not just about products and transactions, they are about relationships. This is why vibrant social media is not an option for credit union marketing, it is an essential. Remember: relationships are all about dialogue. Today’s dialogue is happening on Facebook, Twitter and Google+.
Track and measure
As credit unions put more money into the digital channel, ROI becomes even more transparent. Built-in metrics like Google Analytics enables your marketing department to track what is working and what isn’t.
Credit union customers need more than financial products; they need financial insights. Populate your emails, newsletters and websites with valuable-information – things like infographics and articles on planning for retirement, locking in the best mortgage rate, avoiding identity theft and how to negotiate a better price on your next car.
Find an agency partner you can depend on
A recent Adobe Digital study found that many marketers are learning about digital marketing on the go and their knowledge of online advertising, metrics and ROI are sketchy at best. This is doubly true for the average time-strapped credit union marketing manager. To make sure that your credit union is wisely investing its marketing dollars, consider adding a fully integrated advertising agency to your marketing team.
If you have any questions about how to stretch your credit union marketing dollars, contact us today toll-free at 866.642.7559.