REAL Solutions Marketing Presentation

Marketing and Telling the Story Making your REAL Solutions Count Natalie Sherry Wisconsin Credit Union League

Wisconsin in a Nutshell
“Pilot” state
260 credit unions
10 over $500MM
1 st state to surpass 100 RS credit unions

What We’ve Learned So Far
REAL Solutions
Fulfills an inherent need in the community
We can serve our members better because we know them better
Not charity, however what is most helpful not always what is most profitable
Serves mainly low wealth and new Americans.
Wal-Mart is kicking our butts! Why?!?

Hispanic Marketing
Translation vs. Transcreation
Acculturation
Assume nothing!
Trust is substantial

Marketing message in both English and Spanish is a good start... ...but it doesn’t end there!

Founders Federal CU
Half the Battle: Identify the Need
Understand the Market
Reach out with Focused Strategy:
Local Hispanic community activities
Diversity training for staff
Spanish speaking staff
Spanish language marketing material
Personalized, one-on-one interactions

Getting the Message Out
Inside the Credit Union
Employee Training on Hispanic Culture and Banking habits
Compatibility within each branch and department
Bilingual staff on frontline
Hispanic Focus Group
Hispanic Marketing Team
Outside the Credit Union
Hispanic Chamber of Commerce
Local School Districts
Community Events
Advertising

Earlier This Week
Selling Solutions, not Products
Multi-Sensory Marketing
Social Media
“ Where might all of these concepts fit when promoting a REAL Solutions program?”

What Types of Programs Need Marketing Support?
Payday loan alternatives
Payroll cards
Prepaid cards
Used car loans
Loan to savings
Fin ed

Case Study #1
Prospera Credit Union’s
GoodMoney SM
Video
GoodMoney Site

Take it to the People!
Narrow focus is key
Go where the users go
Connection between CU and GoodWill
“ These babies sell themselves”
Affordable
Helpful
Convenient
Getting the word out
Traditional advertising
Non-traditional advertising
Website
In-store branding
Community involvement

Pulling it all Together
Co-brand it
GoodWill Northeastern WI
Buy-in from local organizations
Grassroots effort
Focus on PR and strategically placed advertising
League involvement

Case Study #2
Ohio Credit Union League’s

WI’s StretchPay Campaign
Newsletter article and artwork
Web banner
Online brochure
Take-away brochure
Lobby/SEG Poster
Press release

More Suggestions
Stop being so humble!
Marketing plan w/traditional and non-traditional
Pressure your League to commit to REAL Solutions
Get your League to sing your praises

WI Tries to Make Sense of it All
REAL Stories video and CU Difference

Case Study #3: I Love My Hoopty

Filene is your Best Friend
Why Choose a Credit Union? An Ethnographic Study of Member Behaviors
Financial Services and Product Usage by Latinos in the United States
Blueprints for Innovation
Who Uses Credit Unions?
Thriving Midsize and Small Credit Unions
10 Research Findings with Strategic Implications for Credit Unions

Plan Essentials
Web, Web, Web!
Networking
Community Involvement
Publicity
The new rule?
Go to them instead of them coming to you

Other Inspirational Resources
Predatory Lending Association
"dedicated to extracting maximum profit from the working poor."
Thank you, Front Seat Management
Center for Responsible Lending

Create a Marketing Plan for this Scenario

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REAL Solutions Marketing Presentation

by realsolutions on Aug 05, 2008

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REAL Solutions Marketing Presentation — Presentation Transcript