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Following the news about the Silicon Valley Bank shutdown on Friday, March 10, and Signature Bank on March 12, U.S. banking consumers expressed fear that their money could be at risk. Credit unions addressed member concerns in a variety of ways; in branches, call centers, and digitally.

ChatGPT and artificial intelligence (AI) have taken the world by storm in 2023 and it is being applied across countless platforms. While on the surface it can create content, that is actually not where the power will be found. In fact, if used purely to create content AI could have long-term detrimental SEO effects. AI is changing the way people search for answers to their questions so it could disrupt search engine marketing and a lot of the things we do.

If you use Google Analytics, you've heard GA4 is replacing the Universal Analytics (UA) platform. Users will adapt to a new interface and website data that is reported differently. There will not be a direct comparison between the data we've been tracking in UA and the new GA4 so becoming familiar with the new format should start soon; the old system will sunset on July 1, 2023. Based on the popularity of our webinar on GA4, it's a topic that credit union marketers want to learn more about so we're breaking that session out into several bite-size portions for easier consumption. But you can always watch the GA4 for Credit Unions full recording.

Content marketing plays a critical role in credit union marketing. It engages the target audience, builds trust, and contributes towards the credit union brand as an authority in the financial services industry.

Marketing automation tools such as HubSpot enable credit unions to automate repetitive tasks, such as email campaigns and social media posts, freeing up staff time for more strategic work. It allows marketers to segment audiences and enables personalized marketing efforts, for more effective campaigns and higher conversion rates. Additionally, marketing automation tools help track and analyze the effectiveness of credit union marketing campaigns, enabling data-driven decisions for continuously improving the marketing strategy.

As a credit union marketer, when it’s time to secure your budget or request funding for a specific campaign are you able to justify the spend? Can you tie actual results to your marketing efforts for the credit union?

Advertising has been around for a long time. In fact, the first paid advertisement was a Coca-Cola ad in a French newspaper in 1836. Today, there are boundless advertising strategies that credit unions and banks can learn from and leverage. But, what makes a truly effective advertising strategy?

Your member service team likely shines at personalized service when members walk into the branch, but how does the credit union interact with members who perform a large percentage of interactions digitally? It takes a concerted effort to maintain relationships with members who aren’t frequent visitors and to stay top of mind for financial services.

Q4 is traditionally credit union marketing budget season, but in 2022 the uncertainty in the current U.S. economy and geopolitical setting adds extra complexity: Inflation. Rising interest rates. Lingering Covid. As economic decline is a concern, marketing managers are under tighter scrutiny to demonstrate credit union advertising spend is generating positive returns. The C-suite often reacts by cutting marketing budgets since few consumers are in the market for loans given the higher interest rates. But marketing remains a critical spend to stay competitive and accelerate out of the questionable economy. The Financial Brand observes that “The difference between budgetary surgery and unfocused slashing will depend on how well bank marketing chiefs can make their case to senior management.”

Marketing personalization has evolved far beyond using someone’s name in an email promotion. When credit unions have access to member information and the ability to retrieve data from a CRM, customized campaigns can target an individual’s current situation and reach that person at the time the need is real. A survey by Epsilon reports that 80% of consumers are more likely to engage with a company that personalizes experiences. Achieve higher rates of return by reaching the target audience when they are more likely to engage with an offer.