Inside Marketing: How credit unions can recession-proof digital marketing strategy
Follow these five best practices to remain a relevant and reassuring presence for members through economic downturn and beyond.
Although reports indicate that the U.S. produced 528,000 jobs in July, those paying attention to recent headlines are well aware that the economy is on the cusp of another recession. Inflation is at its highest peak in 40 years, and tightened rates from the Fed pose a threat as we look to 2023.
With that said, nearly every industry is making adjustments in the face of the current economic situation, and digital marketing is adjusting right along with them. However, as credit unions often serve as a trusted financial institution within the local community, their main initiative is to support members’ needs no matter how the economic landscape is trending.
Here are five ways your credit union can recession-proof its marketing strategy to stay relevant.
1. Determine Your Messaging
Consistency is key. In times of economic uncertainty, we seem to hear conflicting and worrying information every time we turn on the TV or unlock our phones. When everything around your members is rapidly changing, it is crucial to present your credit union as steadfast and stable. Determine your messaging and how you are going to position the institution, and stick to this plan across all platforms.
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