Trends in finance are evolving rapidly. What started as a digital revolution in banking was then forced to accelerate with the onset of the COVID-19 pandemic, keeping most people from managing their finances in person. The state of the world has set off a chain of innovations and new opportunities for banks and credit unions – but to harness them, institutions need to get ahead of them. Here are 5 money trends financial institutions should get ahead of. 

Paid advertising is perhaps the most important tool for letting the world know about your destination. While your organic social channels and website might be pumping out great content, it’s pretty difficult to compete in a digital landscape without dropping some dollars. Whether you’re marketing for an up-and-coming small town or a well-known city that’s been drawing tourists for years, it’s a tool you’ll want to have in your toolbox. This doesn’t mean you need to spend a fortune on digital advertising; it just means you need to be strategic.

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.

As a digital marketing professional, you’ve likely received a host of cold calls and emails during your career about hundreds of digital marketing tools that will “forever change the way you do marketing.” While that can’t be true of all of them, there are some digital marketing tools that are worth paying for.

American adults spend more than 11 hours per day listening to, watching, reading or otherwise interacting with media content. We’re talking videos, podcasts, news articles and blogs, social media, email – you name it. Clearly, we can’t get enough of it.

In speeches and mission statements, you often hear organizations boast about being transparent. But what does transparency mean to them, and are they actually doing it? In a time when internet misinformation runs rampant, being fully transparent can sometimes feel risky. But at the same time, there’s a higher level of distrust among the public, making transparency even more important to build that trust. In fact, studies have shown that 86% of Americans say transparency from businesses is more important than ever before.

While email may seem an archaic form of marketing compared to social media influencers and newsfeed ads on TikTok, its marketing power may surprise you. As it turns out, two-thirds of customers have made a purchase as a direct result of an email marketing message. And on average, email generates $38 for every dollar spent, leading your business to a better return on investment.

For most nonprofit organizations, fundraising is something that touches almost every area of their organization. NPO's and NGO's often use the term development because there is a continuous system that cultivates engagement for each area of the organization. Ultimately, all of those avenues of impact engage people toward a goal that ends with financial support. This is why whole teams of staff and volunteers are dedicated to development, keeping the organization focused on working toward its mission.

It’s no coincidence that you’re seeing more and more for-profit companies participate in charitable giving and volunteering, and take a moral stance on big issues. According to the 2020 Zeno Strength of Purpose Study, 94 percent of global consumers say it is important that the companies they engage with have a strong purpose. In the Deloitte Global Millennial Survey 2019, 42 percent of millennials said they have begun or deepened a business relationship because they perceive a company’s products or services to have a positive impact on society and/or the environment. Further, 37 percent said they have stopped or lessened a business relationship because of the company’s ethical behavior.

Banks are developing apps, calculators, worksheets, and more to help people manage their finances and draw in new leads. It's a whole new world out there, and now is the time to embrace the tools that customers are calling out for. 2019 saw more than one trillion financial application sessions, a record high according to the 2020 Mobile Finance Apps Report from Liftoff. The Financial Times calls the uptick in financial app users a "fintech feeding frenzy," and there's plenty to go around.