5 Marketing Trends for Credit Unions in 2015

We are heading to the end of 2014 which can have many of you already looking forward to 2015. This can be the year your credit union can really capitalize on the new marketing trends that have emerged. Here are the top five marketing trends for 2015.

1. Social Media: As the social media landscape changes, so should your credit union’s social media efforts. Facebook is slowly losing its Millennial demographic, however, recently it has seen a boost with the Baby Boomer generation. Instagram has seen high numbers in the Millennial category, but has yet to see an increase with Baby Boomers. Twitter still ranks as one of the most widely used social media platforms from all age groups. It’s important for your credit union to diversify your social media efforts to build your brand and make it easier for members to recognize and connect to you. Instagram and Pinterest can seem like unlikely social media outlets for your credit union to use, but it is consistently growing in users. Having an active profile on each can boost your credit union’s member base.
2. Content: Content still remains king through 2015. With each Google algorithm update you can expect Google to favor content over most anything else. Having regularlyupdated content on your site establishes authority and helps your credit union gain member trust. The best ways for credit unions to use content is with its website, newsletters, videos and articles and or blog posts.
3. Mobile: Mobile is quickly becoming an important tool for credit unions. If your credit union does not have a well-developed mobile app on every operating system, now is the time to focus your efforts. According to Forbes, 87% of connected devices are engaging in some form of banking. Mobile banking for your credit union needs to give the user a positive experience. Your mobile design should be in a format that is commonly referred to as responsive design. This means that your site provides an optimal viewing experience-easy reading and navigation with a minimum of resizing, panning and scrolling-across a wide range of devices.
4. YouTube and other video platforms: If content is known as the king, videos can be considered the queen. According to the Social Science Research Network, 65% of people are visual learners. YouTube and other video platforms have made it easy for companies to create and share content with their members.
5. Micro-targeting – when it comes to spending on marketing; you want to get the most bang for your buck. Many credit unions are turning to micro-targeting to increase their member base. Micro-targeting gives credit unions the ability to use consumer data and demographic reports to identify individuals or small groups of the like-minded individuals. By micro-targeting your audience you can increase your member base quickly without the large spend that comes in other forms of marketing. One simple product can be used for micro-targeting is Gas Station TV.

CU Solutions Group has the tools to help you make your marketing the best in the business. If your goal is to improve your website or launch a social media campaign, we have what you need to reach your members.  With our helpful website compliance review, content management system and website design and development products we can help you stand out for all the right reasons. 

Engaging the Mobile Member at Your Credit Union

by Amy Neale

So, it’s no secret that cell phone use, especially smartphones, has been increasing year after year. Mobile is becoming a marketing standard in member engagement. Has your credit union taken the time to figure out how to best leverage the typical “mobile member”?

A recent study by Maxymiser surveyed U.S. consumers who owned at least one computer, tablet and smartphone discovering that nearly three-quarters of the respondents visited a banking website or mobile site more than five times per month. And another study from Pew Internet & American Life Project showed that 35% of its respondents banked on their mobile phones – especially those in the 18 to 29 year old age group.

Financial institutions nationwide are standing up and taking notice of this continuing mobile trend. Forrester Research estimates that the financial service industry will spend around $837 million on mobile marketing in 2013. They project that number will grow to $1.61 billion by 2016.

     Many credit unions are unsure of the best way to approach the mobile member. The marketing experts at CU Solutions Group have a few suggestions. Some of these your credit union might already utilize, others might be worth looking into: 

•  Online applications – Since most members are looking to apply for loans online, the days of having a PDF of an application on your site for members to print, fill out and bring in are numbered. It’s time to offer online loan, credit card and membership applications. Get them while they’re interested – and make sure it’s mobile-friendly!
  
•  Mobile marketing – From banner ads to text messages, this is often an untapped resource for many credit unions. Think about including text-based contests or sweepstakes to drive member engagement.
  
•  Responsive design – Many credit unions have already jumped on the mobile site bandwagon – but it’s now time to think about how members use your website. Many move from phone to tablet to laptop and back throughout the day. Responsive design will ensure your website looks great and delivers the best member experience through all devices.

     If you haven’t already, the time to engage your mobile member is now – before they decide to switch to a more mobile-friendly financial institution!