CASE STUDY:

Rio Grande Credit Union

SITUATION

Rio Grande Credit Union was seeking intelligence on its competitors, as well as the strength and effectiveness of its marketing efforts.

ACTIONS

Rio Grande Credit Union hired On The Mark Strategies to conduct a marketing audit. An On The Mark Strategies marketing audit doesn’t just review a financial institution’s marketing collateral, plan and budget. It also includes mystery shops of the credit union’s branches, as well as its competitors to help identity brand gaps and competitive advantages.

RESULTS

ON the Mark Strategies identified brand gaps (gaps between what marketing messages promise and the actual service delivered) which Rio Grande was able to turn into competitive advantages based on the information gathered from the mystery shops. Marketing Vice President Bill Daily said the marketing audit was extremely valuable because it demonstrated the important connection between marketing, sales, operations and the branch experience.

 

Location: Albuquerque, New Mexico
Assets: $319 million
Members: 31,000

Performing the marketing audit helped lend a consultative voice to other departments in the credit union about the marketing implications of sales, operations, and the branch experience. It wasn’t just the goofy marketing guy shooting from the hip and recommending changes. It also provided credibility to our overall marketing spend, staffing, and strategies to our Board of Directors.

Bill Daily

VP of Marketing, Rio Grande Credit Union