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5 Things Your Competitors Can Teach You About Marketing Ideas

Ida Burr
Apr 7, 2019 10:53:00 AM

Have you thought about boosting your Financial Institution's online presence? If you’re not sure where to start, take a look at what your competitors are doing. You’ll likely find that some credit unions and banks are offering really great marketing content to their members, and some others are not really making the grade.

In this blog, we’ve put together a list of our Top 5 MOST Effective Marketing Ideas for Credit Unions and Financial Institutions.

 1. Think Outside the Box

twenty20_9f023051-aff9-4e23-ba14-ae08a7529dc6.jpgWe’ve all heard this cliche (probably in a job description), but it really does also apply to online marketing in a big way. How can you set yourself apart from other credit unions and banks online?

Think about what your customers are interested in when they are surfing the internet. Cute cats, dogs, babies, friends, all of the above? Maybe consider offering a social media contest for your members to post a photo of their pet. People LOVE to share photos of their pets or families, especially if there is a cash incentive involved!

We have had so much success with these fun and easy to enter contests! Even just giving away a few $50 gift cards can draw a lot of attention and entries.

Another type of contest we have done in the past are timeline 'Comment to Win.' You ask your members one question a day for 2-3 days and give away one or two small prizes a day. The great thing about these contests are you can use the entries as ideas for future content!

We will usually ask questions like, 'Where is your favorite local restaurant' or 'Where is your favorite local attraction'. Then you can search for a public Facebook profile or Instagram page for said place and share photos they post! 

 2. Make a Genuine Emotional Connection with Your Customers

Your social media posts should tap into your fan's emotions. They are online to connect with others so help them get there! Share your favorite quote, funny photo, or funny joke (just make sure it is appropriate).

As you may have noticed, video is KING on social media. We love finding fun GIFs and posting them to the page, they usually get a ton of reach and engagement. 

Your presence on social media should feel real, authentic, and relatable. Here's a nice example from our own Facebook page.
FIGROW Example Social Media Post

LEARN MORE: The Definitive Guide to Social Media Marketing for Banks & Credit Unions

 3. Don’t Be Afraid to Share Your Knowledge

People love getting things for free. Does your Financial Institution specialize in refinancing debt? Home loans? Auto loans? Whatever the specialization may be, consider writing an e-book on the topic and offering it as a free download on social media.bigstock-Ideas-Thoughts-Knowledge-Intel-77299412

Blog on your FI website to demonstrate your though leadership on various topics. And one person doesn't have to do all this hard work. Ask branch managers for FAQ documents, ask loan officers for funny stories you might be able to make into a pitfalls to avoid tip sheet. Interview staff and then create content this way. Be creative, but get it done!

 4. Commit, Don’t Go Half Way!!

If your Financial Institution wants to offer a contest then make sure to use all your resources available to make it successful. Sometimes this means only offering a quarterly contest, instead of a monthly contest, so that the resources can be fully utilized. In other words, take your time to get it right. Commit to a budget for images promoting the contest and also the winning prize(s).  

And don't change graphics and promotions too often. Give content time to take hold. We recommend that clients do quarterly promotions while also using other inbound strategies to connect with their target audiences.

 5. Tap Into Your Biggest Brand Ambassadors…YOUR STAFF!

twenty20_dc9cb162-b3cb-4168-b58c-ef3f6f11dece.jpg

The biggest fans of your Credit Union or Bank really are your staff. Nobody knows your business better than the people who work there. Showcase your staff on social media in a bi-weekly or monthly staff highlighted posts. Ask your employees to fill in a questionnaire, sharing some personal facts about themselves (i.e. Are you a coffee or tea drinker? What is your favorite sport? Where is your happy place?).

You can also include a recent photo of the staff member and ask the staff member to provide a baby picture of them too. Your members will appreciate knowing a little bit more about their favorite staff member, and also knowing who works behind the scenes at their Credit Union. These are fun ways to humanize your brand and get a laugh too!

 

We would love the opportunity to help your Credit Union or bank implement these ideas! Contact Us today for more information on how to get started. 

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