As a mid-sized, metropolitan financial cooperative with five branches in California, this credit union struggled with remaining competitive and relevant in their market. With minimal investment in marketing, WebStrategies was presented with a clean slate on which to build a comprehensive digital marketing strategy.
Our initial approach focused on local marketing tactics. Since many of the credit union’s activities were centered around physical branches, a local paid search campaign was aimed at those promotions. A social media marketing plan was also developed to further drive visibility to the credit union’s services, products and member benefits.
To reduce cost per application (CPA) for personal loans, we targeted a small sub-set of the highest converting keywords and successfully drove CPA down. Other data-based marketing campaigns were created in sync with the credit union’s activities and promotions. These tactics improved conversions and reduced CPA for various products and services.
Highly focused campaigns propelled some of the most impressive results in the credit union’s digital marketing strategy since beginning work with us five years ago. A personal loan campaign resulted in a 74% reduction in CPA—from $50 down to $13. Another targeted campaign for new checking accounts generated 80 applications in a six-month period at only $30/CPA.
Paid search, social media marketing and organic search engine optimization continue to be the highest converting channels in the credit union’s digital marketing strategy.
Working with us, our client achieved a
74%
reduction in cost per application.
WebStrategies delivered a campaign that yielded
80
applications in a 6 month period.
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