While marketing was being revolutionized in the 1960s, Bob Dylan sang "The time's they are a-changin." It was true at the time, but not more so than today. Some people lament the change brought on by new technologies and new generations, but without it, we'd still be crawling around in a cave. So make that change work for you, and stand out from the crowd while looking for new credit union members. Here are a few strategies for targeting different credit union demographics.
Start With Small Business
Strangely, one of the best ways to get new credit union members is to go after not individuals but small businesses. People are loyal to small businesses; they trust them and the choices made by the owners. If they find out that their favorite antique store or local coffee shop is a member of yours, they'll trust you too. The credibility of a small local business goes a long way.
Word Of Mouth Means A Lot
There are practically infinite ways to get the message out to your credit union members, and this can be daunting. It's important in this deluge that you don't forget about the oldest marketing tactic in the world; word of mouth. The best part is that this method carries so little risk that you can experiment with it, try to work it in different ways.
Highlight the Benefits Over Banks
Many people don't understand the difference between a credit union and a bank. They think they're two words for the same thing. Fight this misperception by highlighting the differences, specifically the benefits of a credit union, to let people know that they have options. Sometimes you have to show people exactly what you want them to know.
Don't Forget The Younger Generation
There's a common misconception about younger adults that they don't know about their finances and the don't care. This couldn't be further from the truth, in fact, Millennials are more aware of their finances than any generation before. It's also common to target older customer or traditional families, but that leaves out a huge portion of the population. Don't forget them, help them by showing and educating them!
Think Outside The Box
This kind of goes hand in hand with word of mouth, and the two work really well together. It can be hard to find a new way to promote something, so you're going to have to get out there. The most important thing to remember is that you need to get people talking. Coming up with a new presentation of your brand that people talk about will sell itself.
Take A Hint From Addictive Apps
We've all played silly little games on our phones. They give you small mental rewards for something, followed by something you have to wait through to continue the dopamine drip. We're not saying take out advertising space with game companies, but look at the way those games work, then apply that to your marketing for new credit union members.
Harness Social Media To Get Potential Customers Involved
This should go without saying at this point but never neglect your social media presence. It speaks directly to younger potential credit union members while engaging older demographics. Use popular tropes and memes in your media. Most importantly, if you decide to jump on a bandwagon or trend don't wait. If you come in too late, it might work against you.
Use Your Existing Customers To Spread The Word
Back to word of mouth. Start that word with your existing customers. Educating your current credit union members so they can tell their friends and get them on board. No one will be more credible to spread your message than a current believer. Dave the barber will be able to recommend your credit union more credibly and with more fervor than any ad you can run.
Take A Hint From The Hippies
The 60s were a crazy time, man. Happenings were gatherings of pure weirdness to spread a political or ideological message used by hippies to mess with the establishment. You probably shouldn't start dancing in the streets to psychedelic music, but take a look at why they spread their message this way. People remember weird things interrupting their routine. Someone from a credit union sitting at a table? We see it all the time. A man riding a donkey through a mall? You're going to tell your friends and family about that.
Finding and retaining new credit union members can be difficult, and you might not see results immediately. It’s important to have patience, just remember that it’s best to use a few different tactics in tandem to best retain your customers. A combination of old methods and new will ensure your success, one customer at a time.
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