3 strategies to expand your brand awareness immediately
Brand awareness is on everyone’s mind right now. Over the past five years, many credit unions have changed their name, updated their logo and messaging, or expanded their field of membership. And many are finding it challenging to reach the level of brand awareness that they’d hoped for. The tried-and-true methods of increasing brand awareness have evolved due to huge shifts in consumer behavior post-pandemic.
The good news is that there are strategies which speak to today’s consumer preferences that can be implemented immediately. In this article, we’ll examine three of these strategies, the data behind them, and what you can do now to get started.
1. Get your CEO and leadership on social media
Today’s consumers want to know about your values and the people behind the decision-making. Marketing software leader Hubspot’s 2024 Consumer Trends report revealed that 50% of U.S. adults say brands should do more when it comes to social advocacy, diversity, and inclusion. In addition, data showing that consumer preferences towards ethical businesses continues to increase YoY.
And hear this: 77% of consumers are more likely to do business with a company when the CEO has a social media presence. When executive leadership shares content about their values and beliefs, in alignment with the company’s brand values, it builds trust with consumers. Trust and transparency are critically important in attracting new members, especially among younger generations.
What to do now: If you don’t yet have a social media strategy around employee engagement, work with your team to create one. Be sure to foster a culture of resharing posts from the company profile and leaders, as this can expand your reach significantly. Work with leadership to create a content plan specific to their values and sharing comfort level, and provide a variety of prompts to get them started.
2. Shamelessly promote your killer products and customer service
It seems unbelievable, but it’s true: high-quality products and customer service are more important to today’s consumers than saving money. CX giant Qualtrics reported in their 2024 consumer trends study that 61% of recipients said great services/products is the number one reason they choose a company, followed by 47% saying great customer service, even in this economy.
On other words, your beloved member service rep Barb is going to attract and retain more members than an interest rate promo. So will your never-glitchy online banking platform. Your two-click, same-day HELOC. Your friendly phone support that asks you about your day.
It now takes eight impressions for a consumer to remember your message. Make it a priority to educate consumers on what makes your products special and your customer service exceptional. Never assume that your audience is aware or remembers why you are the best choice for their banking needs.
What to do now: Find space in your content calendar to add weekly content that communicates what makes your products and customer service so great. Share reviews, product information, and testimonials. More is more.
3. Partner with a local business
The credit union movement was built on serving communities. Community involvement through events, sponsorships, and education is a cornerstone of most credit union marketing plans. And good news: studies show that today’s consumers, especially Gen Z, prefer to do business with organizations that are actively involved in their communities.
Double down on your community-focused marketing efforts by partnering with a hyper-local business, particularly one with a loyal, engaged following on social media. When they tag or mention you, you’ll be exposed to a whole clutch of new community members. Do this even once a month with different organizations and see for yourself how your brand awareness grows month over month.
What to do now: Meet with your team to identify which types of businesses align with your brand values. From there, meet with folks from different levels and departments at your credit union and ask them, “What local [place] do you love to go to?” Gather your data and reach out the businesses that made the short list. Try sponsoring a trivia night at a local brewery or free coffee day at a community-favorite coffee shop.
Meeting your brand awareness goals with limited resources and changing consumer demands can be frustrating. However, updating your marketing strategies to align with today’s consumers doesn’t have to be overwhelming. If you focus on the data rather than gut feeling, adopt quick-to-implement actions and start small, you’ll be well on your path to expanding your brand in no time flat.
