3 Tips for a Memorable (and Successful) Marketing Campaign
During the pandemic, many businesses around the world, including financial institutions, had to tighten their advertising budgets, ultimately leading to reduced visibility and slowed growth. As the economy begins to recover, now is a great time for credit unions to evaluate their marketing efforts in a new light.
So far in 2021, average digital media consumption for U.S. adults is 7 hours and 57 minutes per day. That translates into a lot of advertising inventory and opportunities to reach consumers where they are.
Break through this year’s ad noise with these tips from Strategic Link partner Kasasa and its team of marketing experts.
1. Target the right audience.
Getting more account holders is good. Getting more engaged account holders who will generate stable income for your credit union for years to come is better. Consumer segmentation can help you identify and target the people you’d most like to attract. For example, when designing campaigns for its clients, Kasasa targets account holder profiles based on interest and behavioral attributes.
2. Finetune your channel mix.
Multichannel, seasonally tailored marketing performs 58% better than digital-only campaigns in the financial services industry. To market successfully, you must be on the right channels for your goals and desired audience. Digital display, streaming audio, social media, and email are all effective digital channels that meet consumers where they spend the bulk of their time — online.
Direct mail —physical collateral sent directly to consumers’ mailboxes — is one of the longest-standing and most reliable forms of marketing, especially when generating brand awareness.
Paid search can help you capitalize on the search traffic created by these digital or direct mail campaigns by making sure your credit union appears at the top of Google search pages for terms like “rewards checking account.”
3. Use relatable messaging.
Incorporating the seasons into your advertising offers a great opportunity to create an emotional connection with potential members. Make sure you tailor the imagery and messaging in your collateral to match the specific season, such as spring, summer, back-to-school, winter holidays, etc. You’ll get noticed by more consumers and see higher conversion rates.
This year is shaping up to be a pivotal time for the financial services industry. Will you be able to attract the right consumers — and more of them? The kind of consumers who will generate more loan volume and non-interest income for your credit union and offset margin compression to set you up for future success? All those ad spaces are being taken up fast — it’s a smart idea to start planning sooner rather than later.