How Banks and Credit Unions Can Use Content Marketing to Gain Members
Should your credit union or bank be using content marketing to reach new members? That would be an emphatic "Yes!". Content marketing is a great way for credit unions and banks to bring visible value to current members and entice potential new members to visit your website and consider your service.
Did you know that 91% of B2B marketers and 86% of B2C marketers are now using content marketing? On average, marketers are spending over 25% of their budget on content marketing, 62% of companies outsource their content marketing and here's the impact on your bottom line:
Content Marketing costs 62% less than traditional marketing and per dollar spent generates approx. 3 times as many leads as traditional marketing!
Content marketing works for both B2B and B2C and you need to develop a credit union and bank marketing plan and budget that includes content marketing to reach both.
What is Content Marketing?
Content marketing is a strategic marketing plan which is based upon creating and distributing free, engaging, valuable, relevant, current and shareable content to the target audience. This content is most commonly provided through internet and social media outlets like blogs, newsletters, Twitter, Facebook, LinkedIn, YouTube, SnapChat, etc. Often businesses also use emails to current customers as a way to share this valuable content.
Content may also be disseminated through paid means, such as posting ads that link to content on frequented sites or searches or it may drive leads through more organic means like SEO (search engine optimization). It is essential to inbound marketing but it is only one of the many pieces of a successful credit union or bank inbound marketing program. Successful strategies typically combine the two in a harmonizing way.
How Do You Get This Content?
Content marketers see their number one challenge in the ability to continually develop engaging content. All content must be original and meaningful. And as more content hits the market, this becomes increasingly hard to do. Industries are emerging with the sole purpose of developing content that will appeal to target demographics.
Do you have subject matter experts within your organization, who also have a flair for making informative and professional videos, graphics, quizzes, interactive games, art, music, blogs, professional memes, listicles, reports, etc. that both existing and potential members will appreciate and enjoy? Then you can begin the creation of content marketing materials in house. And then, depending on in-house capacity, you may want to outsource to professionals who can likely produce content in a more cost-effective way.
What Do You Do With This Content?
You establish a schedule to release the content within marketing channels like Facebook, Twitter, LinkedIn, etc.. And make sure that it either discreetly or very overtly links back to your credit union or bank and the various services that you provide. Some of the content can be actively promotional. But other content should be just informative or fun. If your content is too directly promotional, it can create distrust in your content and failure of your potential new members to connect with you and want to join.
Credit Union and Bank Content Marketing
Content marketing is about providing valuable, shareable, free content to your existing and potential members with the goal of answering their questions and solving their problems. When you reach out to your potential members where they work, learn and play, they feel like you really get who they are and they learn you are able to connect with them and offer solutions making their lives easier. Through content marketing you can attract new potential members to your credit union or bank and further expand that member experience to existing members keeping them loyal for life.