Credit unions are one of the most popular forms of banking in the United States and are arguably one of the least advertised. Despite credit unions investing much less on advertising and marketing, members are very satisfied with their customer service, higher interest, return rates, and lower interest on loans. However, this brings most credit unions to a disadvantage compared to local and national banks when it comes to marketing and gaining new members.
As a credit union marketing agency, we’re here to explain some easy credit union marketing ideas that will get your credit union up and competing with local and big banks!
Member Appreciation and Community Outreach
Community outreach and member appreciation have always been an integral part of financial marketing, and it’s only becoming more and more important. Events and activities for your members can get members and their friends and family to visit the branch and potentially sign up. Credit unions can use financial outreach to reinforce social connections with the community while establishing links to younger generations.
A great idea for credit union marketing for community outreach is establishing a financial literacy program in local schools. This enables credit unions to connect with younger audiences to build a potential customer base while helping out the community as well.
Utilize Digital Communication
Most credit unions haven’t invested in digital engagement channels like conventional banks and large-scale financial institutions. Apps for mobile communication are extremely important for younger users. Older users will more likely access digital banking with a laptop or a tablet. Digital communication allows for access to banking services at any time. As a credit union marketing agency, we ensure members know about your apps and online banking tools as well as develop websites for clients and optimize them for SEO.
Get visual with social content by attaching pictures and graphics to posts and customizing them. These visual aspects attract more attention and engagement with social media posts. You can always look into a credit union marketing agency to create social content for you as well.
Social listening is also a very important aspect of social media marketing for credit unions. Social listening through social media platforms provides valuable insight into the thinking of key stakeholders. Monitor comments, posts, and preferences for hints into what’s going on and assess your brand’s voice.
Marketing is not a secret ingredient that some credit unions have gotten lucky with and some have not. There are strategies and methods behind every credit union’s marketing success. Start with a strategic plan that focuses on achieving your credit union’s business goals and build from there. If you have any questions or would like to speak with a professional about a credit union marketing strategy, contact Red Egg Marketing today!