Marketing and Digital Unification: Focusing on Your Credit Union’s Member Experience for Growth

Marketing and Digital Unification: Focusing on Your Credit Union’s Member Experience for Growth

The COVID-19 pandemic brought about significant change regarding how credit unions connect with their members. Adoption of digital banking services across America and around the world accelerated dramatically, and people expect more out of these services than before the pandemic. In the upcoming webinar “Marketing and Digital Unification” hosted by The Loan Lead Generator and marketing consultant Sarah Snell Cooke, credit unions will learn how to strengthen their social media presence while creating a marketing strategy that will encourage your members to check out your online loan offerings!

Demand More from Digital Banking

More people have adapted to credit union’s digital services and are using physical cash and cards less often, and consumers’ expectations of these services has increased. According to CUToday, a recent survey conducted by Alkami Technology found that the digital user experience with a financial institution is now the most important and essential aspect of banking for consumers. 

Additionally, the survey also found that financial institutions and consumers are not always on the same page when it comes to what the “ideal banking experience” should be. Consumers are looking for a more personalized experience from credit unions, and credit unions must figure out how to reach current and future members and create an engaging digital experience so they will continue to credit unions’ digital services in the future.

Strengthen the Digital Experience for Your Members

If credit unions want their digital platforms to grow and serve more members, a good marketing strategy that aligns with the goals of your online banking and lending program is key. What’s also important to keep in mind is that implementing such a strategy may require a technological upgrade or two. 

Building or buying digital marketing structures and identifying technology solutions that integrate across social media and marketing management tools will help ensure your credit union’s digital marketing is consistent and able to meet your members at every step of the onboarding and buyer’s journey. If your credit union is not able to provide a strong digital experience for your membership, they will quickly and easily switch to an institution that can.

Improve Client Engagement

Alongside creating a strong digital presence, engaging with your membership and ensuring a personal touch is crucial to finding success with your marketing strategy in the digital age. Consider taking a closer look at these paths for your digital marketing and lending strategy:

1.     Personalized Outreach: Outreach is not a new concept for any financial marketer, but it’s not enough to simply send a quick sales email anymore. According to Everfi, connecting to consumers and making human connections can do significantly more for member relationships than any amount of online marketing every could. 

2.     Messaging: To build those relationships, you need to remember to focus on helping the members and not just focus on selling your products. Sometimes we’re too close to the situation though and could use third-party perspective to ensure brand and messaging are on point. Find a trusted credit union marketing firm that dives deep into what a credit union and its team is really about to align reality and messaging. Your Marketing Co., for example, works exclusively with credit unions and has helped many achieve service and growth beyond their expectations.  

3.     Mobile Apps: There’s an app for just about anything, and there are certainly plenty of banking and digital payment apps in the market. Having a simple, responsive mobile app will mean that your members will download it and use it regularly for both simple tasks, like checking their balance and transferring money, and for more complex actions, such applying for a car loan.

4.     Technological Innovation: As quickly as one technology trend catches on, another innovation hits the scene and there’s a rush to upgrade. Not every new software or gadget will work for you – or sometimes anyone, but keep an eye on technological evolution, so your credit union is aware of the kinds of technology consumers are using. You’re not only competing with the bank across the street but the likes of many VC-backed fintechs with money to burn.

An excellent, streamlined member experience has become one the top aspects credit union members are seeking when deciding if your credit union is right for them. Make sure the experience your credit union offers is a good one! Through unification of your digital lending and marketing strategy, your credit union can offer so much more than great loan products, effective marketing and connected technology for greater efficiency. You build trust and stronger relationships with your members, and in turn, your credit union will be better equipped to serve even more members and grow.

Learn more on how your credit union can create a better digital marketing strategy! Register for a webcast hosted by The Loan Lead Generator and marketing consultant Sarah Snell Cooke, “Marketing and Digital Unification” today and mark your calendar for Thursday, Oct. 21 at 1 p.m. EST.