REAL Solutions Marketing Presentation

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REAL Solutions Marketing Presentation

  1. 1. Marketing and Telling the Story Making your REAL Solutions Count Natalie Sherry Wisconsin Credit Union League
  2. 2. Wisconsin in a Nutshell <ul><li>“Pilot” state </li></ul><ul><li>260 credit unions </li></ul><ul><li>10 over $500MM </li></ul><ul><li>1 st state to surpass 100 RS credit unions </li></ul>
  3. 3. What We’ve Learned So Far <ul><li>REAL Solutions </li></ul><ul><ul><li>Fulfills an inherent need in the community </li></ul></ul><ul><ul><li>We can serve our members better because we know them better </li></ul></ul><ul><ul><li>Not charity, however what is most helpful not always what is most profitable </li></ul></ul><ul><ul><li>Serves mainly low wealth and new Americans. </li></ul></ul><ul><ul><li>Wal-Mart is kicking our butts! Why?!? </li></ul></ul>
  4. 4. Hispanic Marketing <ul><li>Translation vs. Transcreation </li></ul><ul><li>Acculturation </li></ul><ul><li>Assume nothing! </li></ul><ul><li>Trust is substantial </li></ul>
  5. 5. Marketing message in both English and Spanish is a good start... ...but it doesn’t end there!
  6. 6. Founders Federal CU <ul><li>Half the Battle: Identify the Need </li></ul><ul><li>Understand the Market </li></ul><ul><li>Reach out with Focused Strategy: </li></ul><ul><ul><li>Local Hispanic community activities </li></ul></ul><ul><ul><li>Diversity training for staff </li></ul></ul><ul><ul><li>Spanish speaking staff </li></ul></ul><ul><ul><li>Spanish language marketing material </li></ul></ul><ul><ul><li>Personalized, one-on-one interactions </li></ul></ul>
  7. 7. Getting the Message Out <ul><li>Inside the Credit Union </li></ul><ul><li>Employee Training on Hispanic Culture and Banking habits </li></ul><ul><li>Compatibility within each branch and department </li></ul><ul><li>Bilingual staff on frontline </li></ul><ul><li>Hispanic Focus Group </li></ul><ul><li>Hispanic Marketing Team </li></ul><ul><li>Outside the Credit Union </li></ul><ul><li>Hispanic Chamber of Commerce </li></ul><ul><li>Local School Districts </li></ul><ul><li>Community Events </li></ul><ul><li>Advertising </li></ul>
  8. 8. Earlier This Week <ul><li>Selling Solutions, not Products </li></ul><ul><li>Multi-Sensory Marketing </li></ul><ul><li>Social Media </li></ul><ul><li>“ Where might all of these concepts fit when promoting a REAL Solutions program?” </li></ul>
  9. 9. What Types of Programs Need Marketing Support? <ul><li>Payday loan alternatives </li></ul><ul><li>Payroll cards </li></ul><ul><li>Prepaid cards </li></ul><ul><li>Used car loans </li></ul><ul><li>Loan to savings </li></ul><ul><li>Fin ed </li></ul>
  10. 10. Case Study #1 <ul><li>Prospera Credit Union’s </li></ul><ul><li>GoodMoney SM </li></ul><ul><li>Video </li></ul><ul><li>GoodMoney Site </li></ul>
  11. 11. Take it to the People! <ul><li>Narrow focus is key </li></ul><ul><li>Go where the users go </li></ul><ul><li>Connection between CU and GoodWill </li></ul><ul><li>“ These babies sell themselves” </li></ul><ul><ul><li>Affordable </li></ul></ul><ul><ul><li>Helpful </li></ul></ul><ul><ul><li>Convenient </li></ul></ul><ul><li>Getting the word out </li></ul><ul><ul><li>Traditional advertising </li></ul></ul><ul><ul><li>Non-traditional advertising </li></ul></ul><ul><ul><li>Website </li></ul></ul><ul><ul><li>In-store branding </li></ul></ul><ul><ul><li>Community involvement </li></ul></ul>
  12. 12. Pulling it all Together <ul><li>Co-brand it </li></ul><ul><ul><li>GoodWill Northeastern WI </li></ul></ul><ul><li>Buy-in from local organizations </li></ul><ul><li>Grassroots effort </li></ul><ul><li>Focus on PR and strategically placed advertising </li></ul><ul><li>League involvement </li></ul>
  13. 13. Case Study #2 <ul><li>Ohio Credit Union League’s </li></ul>
  14. 14. WI’s StretchPay Campaign <ul><li>Newsletter article and artwork </li></ul><ul><li>Web banner </li></ul><ul><li>Online brochure </li></ul><ul><li>Take-away brochure </li></ul><ul><li>Lobby/SEG Poster </li></ul><ul><li>Press release </li></ul>
  15. 15. More Suggestions <ul><li>Stop being so humble! </li></ul><ul><li>Marketing plan w/traditional and non-traditional </li></ul><ul><li>Pressure your League to commit to REAL Solutions </li></ul><ul><li>Get your League to sing your praises </li></ul>
  16. 16. WI Tries to Make Sense of it All <ul><li>REAL Stories video and CU Difference </li></ul>
  17. 18. Case Study #3: I Love My Hoopty
  18. 19. Filene is your Best Friend <ul><li>Why Choose a Credit Union? An Ethnographic Study of Member Behaviors </li></ul><ul><li>Financial Services and Product Usage by Latinos in the United States </li></ul><ul><li>Blueprints for Innovation </li></ul><ul><li>Who Uses Credit Unions? </li></ul><ul><li>Thriving Midsize and Small Credit Unions </li></ul><ul><li>10 Research Findings with Strategic Implications for Credit Unions </li></ul>
  19. 20. Plan Essentials <ul><li>Web, Web, Web! </li></ul><ul><li>Networking </li></ul><ul><li>Community Involvement </li></ul><ul><li>Publicity </li></ul><ul><li>The new rule? </li></ul><ul><ul><li>Go to them instead of them coming to you </li></ul></ul>
  20. 21. Other Inspirational Resources <ul><li>Predatory Lending Association </li></ul><ul><ul><li>&quot;dedicated to extracting maximum profit from the working poor.&quot; </li></ul></ul><ul><ul><li>Thank you, Front Seat Management </li></ul></ul><ul><li>Center for Responsible Lending </li></ul>
  21. 22. Create a Marketing Plan for this Scenario

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