The landscape of marketing is evolving, and credit union marketing is no exception to this. Potential members aren’t looking to television, radio or billboards to find a credit union that is right for them. Instead, they turn to the internet to see who is worth giving their money to. Digital marketing for credit unions is no longer an option, it’s a necessity.
With the right digital marketing strategy in place, credit unions can find themselves reaching more people than ever before, in a highly targeted way. Instead of marketing to the masses, a digital strategy allows you to spend your time and money on attracting the right people to grow your credit union.
Here are three ways your credit union can utilize digital marketing to grow the business:
1. Content Marketing
Once potential members land on your credit union’s website, you need to keep them engaged. Content marketing is an essential digital marketing strategy for credit unions because it keeps potential members on your site, sets up your financial institution as an authority and gives you the chance to generate leads.
Content marketing entails creating useful information for the site visitor that does not include overt advertising. Customers look for eBooks, articles, and videos that can inform them on financial matters. They are anxious to learn, so you have a great opportunity to advertise to the eager.
A great marketing strategy is to have users enter their email address in order to obtain your informational material. Once they enter it, you can send them the eBook, series of articles, video, etc. directly to their inbox.
2. Email Drip Campaign
Once potential members give you their email address, a drip email campaign can be a very effective digital marketing strategy. After sending the initial content that they signed up for, sending them occasional emails that are pre-written and set to reach them at specific times keep your credit union top of mind and continue to prompt them to take further action.
Typically, a drip campaign works by sending an email three days or so after the initial email, asking if they have any questions. Then, another email is sent 5-10 days later prompting them to speak to a bank representative, etc. These emails also have the advantage of being tailored exactly to your members’ needs. You can set emails towards mortgages, small business loans, auto loans, or anything that is relevant to them.
Drip email campaigns allow you to generate warm leads easily and automatically. They take advantage of what your potential customers show interest in without a mass marketing approach.
An effective and efficient digital marketing strategy for credit unions means using the internet to help you do your marketing. PPC, content marketing, and drip email campaigns are all effective ways of keeping your bank in the forefront of potential members’ minds while they are looking for the right financial institution for them.
3. Pay-Per-Click Advertising
The use of SEO to attract new customers cannot be overstated. Targeting keywords organically means that you are attempting to be the first website a user lands on when looking into a credit union for them. However, many businesses are aware of the importance of SEO and a lot of keywords have become overly competitive, making it difficult to land on the coveted first page, especially if your bank is new to digital marketing.
This is where pay-per-click advertising can be useful to your financial institution. In addition to the organic SEO methods to land your credit union on the first page, you can pay for an advertisement that can be seen at the top of the first page. You pay Google based on how many people click on your ad, hence, pay-per-click (or PPC).
Paying for ads can be used beyond Google to various popular media channels, such as YouTube and Facebook. However, Google Adwords can be an effective way to reach customers that are already searching for a credit union and going to the trouble of actively looking.
Need help getting your digital financial marketing started? We created a guide with all the latest information you need for advertising your bank online. Download our free guide to get the best tips and tricks for creating your best marketing strategy!