The Challenge

A+ Federal Credit Union has been working with FI GROW Solutions for over 5 years to handle their digital ads that optimize for the credit union's overall growth through new member acquisition as well as deepening current member engagement to amplify member profitability metrics. We have strategized to grow and improve year over year. Recently, we had the challenge of targeting new markets for them where they did not have any physical presence with branches. 

The Goal

• Increase membership in two new market areas as well as increase results in existing marketing areas
• Leverage innovative digital channels and technologies to reach and serve target market to yield higher applications and results
  
  

The Result

In the year 2022, A+ Federal Credit Union achieved remarkable success in member acquisition through a comprehensive digital advertising strategy encompassing display and search ads.

In 2023, not only did we continue those efforts, but we also added new market areas to run digital ads in where there were no physical branches. We also added YouTube Ads to the mix and the growth from 2022 to 2023 was phenomenal. 

% Increase/Decrease from 2022 to 2023:

• 160.12% Increase in Completed Applications
• 39.15% Increase in Application Conversion Rate
• 45.59% Decrease in Cost Per Application Completed

These results show the overwhelming success of our targeted digital ad campaigns with a substantial increase in A+ Credit Union's reach and impact within the community.

These results highlight our commitment to efficiency in our marketing efforts, ensuring a cost-effective strategy for member acquisition through targeted digital channels.

The figures presented in our performance metrics are especially noteworthy, as they represent individuals who were previously unfamiliar with A+ Federal Credit Union.

Our keyword strategy at FI GROW deliberately avoids targeting branded keywords, ensuring that the results are reflective of new potential customers actively seeking a financial institution without prior awareness of the financial institution's name.

The reported success in member acquisition highlights the effectiveness of our strategy in reaching and attracting a fresh audience, establishing the credit union as a compelling choice for those actively searching for a new banking relationship.

Conclusion: 

If you are wanting to reach a geographic location that you do not have any branches in, our strategy to reach those markets through digital ads yielded great results. Paid digital ads could be a great solution for you as a cost-effective solution to reach new markets or deepen relationships and increase share of wallet with existing members. 

"Working with FI GROW is a partnership and they have become an extension of the A+ team."

 

- Marketing Manager, A+ Federal Credit Union

With digital ads, it is very important to remain consistent with your ads, and continually monitor and optimize for best results. It is also beneficial to tie in a product offer that goes with your product that helps boost results for your campaign. At FI GROW Solutions our team of digital ads experts make it easy for you to run and manage these ads. We monitor patterns across clients around the nation and apply the best strategies for highest performance for your ads.

Lastly, if you are looking to mix up your digital ads, adding on YouTube Ads is a great option for creating awareness and driving higher conversions through video ads. 

You can do this for your Financial Institution as well, and we can help!

Our team can give you everything you need to implement digital marketing ad strategy and implementation.  Contact us today to discuss, or visit our Digital Ads Strategy Offer Page to learn more about working with our team! 

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