Top marketing trends for 2022
I can’t believe I am going to write the word “COVID” almost two years after it came barreling into our lives. But the fact is…it changed SO much, and sadly…it’s here to stay.
Not only did consumers adopt payments and other mobile financial services technologies at a rate they expected not to happen for about seven years, but marketing has changed so much because of COVID, technology, and the way people view brands today.
So how are you planning to get your credit union to stand out to members and potential members? Here’s a field guide to marketing in 2022 for your credit union:
- Narrow your focus. If you’re still trying to serve “everyone”, your credit union is not going to really appeal to anyone. You want to segment your ideal potential members into who you are best-suited to serve from a branch, technology, and service offering perspective. Develop a Member Persona for your ideal member, which will help inform your marketing strategy, promotions, messaging, and channels so you are reaching the right members with the right message at the right time.
- Make member experience a top priority. Your members have a countless number of choices when it comes to their banking service provider. How can you and your entire credit union team serve those members in a unique and distinctive way, helping them with their financial needs and connect with them? Resources spent on this area in 2022 and beyond will set your credit union up for long-term success.
- Lead with values. 71% of consumers choose to do business with companies with which they have shared values. If you lead only with product and rate, you are missing out on a huge opportunity to really connect with members who choose you because of you and will stay loyal because of that connection.
- Don’t forget the 4 Ps. This means looking at all opportunities for growth and alignment across your people, processes & procedures, products, and your promises. Marketing isn’t just about campaigns anymore. It’s about how you position the credit union to connect with consumers from the products you have to your account and loan procedures and everything in between.
- Shine the light on your members. Testimonials are gold for your credit union, your brand experience, and your products. If you aren’t building in regular ways to get feedback from recent loans and/or transactions, or members’ testimonials about their experience with your credit union, you are missing a huge opportunity as we live in a “social” world. The more testimonials and reviews out there on Google, Yelp, social media, and even your credit union’s website, the better.
