Growth Marketing Strategies For Credit Unions

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Ideas and areas to explore to grow your credit union business.

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Growth Marketing Strategies For Credit Unions

  1. 1. Pat Price 630.717.8332 Copyright © 2009 The Price Group, Inc. Growth Marketing Strategies!
  2. 2. Is this a great time or what?! Copyright © 2009 The Price Group, Inc.
  3. 3. The Industry Copyright © 2009 The Price Group, Inc. National City
  4. 4. the Numbers <ul><li>Unemployment </li></ul><ul><li>Housing new starts </li></ul><ul><li>CPI </li></ul><ul><li>… </li></ul>Copyright © 2009 The Price Group, Inc.
  5. 5. What’s a Marketer to do? <ul><li>Stats say – keep marketing! </li></ul><ul><li>Take stock of member situation and “purchase” drivers and attitudes </li></ul><ul><li>Re-assess messaging </li></ul>Copyright © 2009 The Price Group, Inc.
  6. 6. necessity is the mother of invention - Plato Copyright © 2009 The Price Group, Inc.
  7. 7. Manage the Brand <ul><li>Credit Unions vs. banks </li></ul><ul><li>The Virgin Air method </li></ul><ul><ul><li>Build your promise on differentiators </li></ul></ul><ul><ul><li>Get it out there – be relentless </li></ul></ul><ul><li>Capitalize on competitive advantage </li></ul>Copyright © 2009 The Price Group, Inc.
  8. 8. Consultative Selling <ul><li>All about rapport and asking questions </li></ul><ul><li>Not selling, rather discovering needs </li></ul><ul><li>Not guessing - knowing </li></ul><ul><li>Don’t ask member to make the connection between need and product </li></ul><ul><li>True, trusted advisor </li></ul>Copyright © 2009 The Price Group, Inc.
  9. 9. Manage your lists <ul><li>Allows for more targeted offers </li></ul><ul><li>Minimizes opt-outs </li></ul><ul><li>Save $$$ on Direct Mail </li></ul><ul><li>Personalized experience </li></ul>Copyright © 2009 The Price Group, Inc.
  10. 10. Add Channels Copyright © 2009 The Price Group, Inc.
  11. 11. Internet and Website <ul><li>Stats show prevalence of online research </li></ul><ul><li>Evolving from mass media interruptions </li></ul><ul><li>Interactivity </li></ul><ul><li>Easy navigation </li></ul><ul><li>SEO </li></ul>Copyright © 2009 The Price Group, Inc.
  12. 12. Email <ul><li>Start with who you know </li></ul><ul><li>Ask for permission to send </li></ul><ul><li>Tactics </li></ul><ul><ul><li>Be succinct </li></ul></ul><ul><ul><li>Design above the fold </li></ul></ul><ul><ul><li>Great subject line </li></ul></ul><ul><ul><li>Strong spam checks </li></ul></ul><ul><ul><li>Personalization </li></ul></ul><ul><ul><li>Measure </li></ul></ul>Copyright © 2009 The Price Group, Inc.
  13. 13. Mobile <ul><li>Account Transactions </li></ul><ul><li>Email to PDAs </li></ul>Copyright © 2009 The Price Group, Inc.
  14. 14. Growth imperative – Gen Y (strategy) <ul><li>Make part of strategic plan </li></ul><ul><li>Part of staffing plan (get their input) </li></ul><ul><li>Shape service offerings to fit </li></ul><ul><ul><li>Life events trigger needs </li></ul></ul><ul><ul><li>Computer as a branch </li></ul></ul><ul><li>Use non-traditional channels to reach </li></ul><ul><ul><li>Partnerships with community businesses, coupons, apartment complexes </li></ul></ul><ul><li>Leverage their social nature for word-of-mouth success </li></ul>Copyright © 2009 The Price Group, Inc.
  15. 15. Growth imperative – Gen Y (more technology) <ul><li>Web ads </li></ul><ul><li>Social media </li></ul><ul><li>Blogs </li></ul><ul><li>Online conversations </li></ul><ul><li>Interactivity – surveys, questionnaires </li></ul><ul><li>Video is the next wave </li></ul>Copyright © 2009 The Price Group, Inc. checkout www.smartypig.com
  16. 16. “ Street” Tactics <ul><li>Business conferences </li></ul><ul><li>Partner with Schools </li></ul><ul><li>Community events </li></ul><ul><li>Test copy </li></ul>Copyright © 2009 The Price Group, Inc.
  17. 17. Copyright © 2009 The Price Group, Inc. If you’d like to receive my Marketing Tips! ezine go to www.PatPriceSpeaks.com/resources.php It’s free! Pat Price 630.717.8332 [email_address] Thank You!

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