Marketing to Members in a Mobile World – Are You Ready?

Much of the debate about mobile banking and its impact on credit unions has focused on the technology and functionality that will be offered to members.  From simple text message alerts and balance information to full-blown banking suites that offer the same functionality that you have with a PC and a browser. The market (at least in the United States) is still sorting itself out.

What gets less attention is what a mobile-centric world will mean for the way in which we market to and engage with our members. Mobile marketing certainly requires a different way of thinking about messaging, medium, and target audiences because it’s such a unique channel with unique challenges and unique opportunities.  Luckily, there are some experts out there to help us understand the paradigm shift.

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Nurture Members with Nurture Marketing

There is a concept called ‘nurture marketing,’ which emphasizes the benefit of communicating the value of your solutions to your target audience through education, even when you know they’re not ready to make a purchase. What’s key to an effective nurture marketing campaign is that focus on education or helping your audience understand how they can solve their problems (without a lot of the salesy mumbo jumbo).

Nurture marketing helps build a relationship with your audience and also helps establish credibility at the same time. Your members appreciate the education you can provide to help them make successful decisions (especially about something that is as important to them as their finances!) As a result, your positive brand image becomes top-of-mind, which means that when a purchase is ready to be made, you’ll be the first phone call.

Unfortunately some organizations are better able to communicate their expertise and knowledge than others in order to build a positive brand. Your credit union is no different. How does nurture marketing fit into your marketing plan or do you even have a marketing plan? (You should!!!)

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Do Your Members Still Trust You Today Like They Did Yesterday?

At the core of the loyalty that members have displayed over the years is an unabiding trust placed in their credit unions, to the point that it has become a brand attribute for credit unions.  But there have been significant changes in the way members view financial institutions in general, and these new perspectives affect how they view credit unions and their loyalty toward them. Have you done everything you can to adapt to the challenges and opportunities offered by this shift? I attended a packed breakout session at the NAFCU Annual Conference today called “Standing in Your Member’s Shoes,“ from Martie Woods, VP and Chief Experience Officer (I love that title!) for Deluxe Corporation.

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Five Questions to Ask About Your Credit Union’s Website

Does your credit union analyze its website traffic? Digging into your website analytics can give you a feel for the scope of your website as a communication vehicle, help you understand characteristics about your members and prospects, and uncover new marketing opportunities for your credit union. Designed for the busy executive, here are five questions to help jumpstart a conversation with your web and/or marketing team.

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