As the world continues to evolve and competition ramps up between credit unions, small banks and national banks it’s important for small organizations to use every advantage they can to drive growth. Small banks and credit unions are nimble, authentic and have a specific regional footprint they live, work and play in. By leveraging these advantages and a proper mix of marketing and advertising, they can stay relevant; diversify services provided to current members and drive net new member growth. The service, local relationships, competitive rates and expertise will keep members long term, while the strategies below will drive new member growth in any environment.
Content Marketing
Over the past several years, content marketing has exploded in popularity and for good reason. Content marketing is when an organization releases blogs, news articles, and other, ‘content,’ to educate, build trust and help their clients/prospective clients make important decisions. The credit unions and small banks getting the most out of their content marketing are consistent in their brand voice, answering questions that many potential members have and are broken down into bullet points. As content marketing has grown in popularity it has also been a key to search engine optimization and appearing higher in the rankings when a potential new members searches for services in their geographical area.
Social Media
Social media has been a staple as credit unions and small banks look to connect and drive growth with younger audiences. While it is still good for reaching young audiences, these platforms have grown and are now used by every group of people to connect with brands, ask questions and even address their concerns with customer service in a public forum. With social media it is important to have a, ‘brand voice,’ where people feel and connect with your brand like they would a friend. Is your brand reserved, funny, professional, outgoing, etc? These questions are key to delivering a return on your time and advertising spend and will be addressed in a comprehensive marketing strategy. In addition to this, we see more brands quickly gain the attention of media, for both good and bad reasons, as they use social media to connect with the general public. Have you considered how you are protecting your brands image?
Search Engine and Social Media Paid Advertising
Paid advertising has been a staple of businesses as they grow organically for centuries. It has, arguably, gone through more changes than any other aspect of running a business. While traditional advertising drives potential customers to become familiar with your brand or relies on a certain element of luck, now we are able to meet potential clients in the buying process and deliver answers to their challenges. By running the proper analysis, we are able to target ideal customers, looking to engage with services you provide and make a purchase soon. With the right analytics, a proactive approach and a touch of creative blend brands are able to use paid advertising to grow in their high profit business units with ease.
As small banks and credit unions continue to pursue organic growth, these are just a few of the tested strategies that drive successful outcomes. By conducting research, mixing analytics, creativity and landing on the right voice, the credit union and small bank business is set to excel in the community market.
