As banks and credit unions continue to attempt wooing the hearts, minds and pocketbooks of consumers, marketers must find increasingly people-friendly ways to achieve this goal. It’s only by growth (both acquiring new consumers and increasing existing consumer retention) that banks and credit unions will continue to grow and thrive.
Below are three consumer-friendly marketing tips for you to consider when trying to attract consumers to your bank or credit union.
- Offer free and valuable content. Consumers love financial tools, even more so when they are free. Your bank or credit union can be their hero by offering complimentary content and tools. This could include financial information on your blog, calculators (for budgeting, mortgages, loan payments, etc.) and a link giving access to credit reporting agencies.
- Highlight your community involvement. Corporate responsibility matters, especially to the Millennial Generation. When your bank or credit union participates in community causes, promote it. Go beyond your website and look to public relations and your social media platforms as ways to convey the message of your civic involvement. Progressive financial institutions, such as AmeriCU (Rome, NY) do a terrific job creating their own community involvement activities.
- Tell success stories. People learn best by parables/stories. When your bank or credit union successfully helps a consumer (for example, helping someone get their first mortgage) capture and tell that story. Preferably using the actual photographic testimonial of that person. By sharing your success stories, your bank or credit union writes its own narrative and humanizes itself in the eyes of consumers. By utilizing tools like video, your bank or credit union can take its story sharing to the next level.
We’re way past the day of statement inserts and newspaper ads. Always be on the lookout for new ways to connect the hearts and minds of consumers to the products and services your bank or credit union offers.