Banking as a member of credit unions and community banks is an ideal option for the average consumer because they often provide many of the same products offered by larger traditional banks at a lower rate. However, you still need to get consumers in the door of your community bank or credit union so they can learn more about the services you offer on a regular basis.
All of the ideas discussed in this article are based on the latest marketing strategies for community bank and credit union marketing. If you follow the tips below, the marketing efforts for your credit union or community bank will bring interested parties to your financial institution that you can convert into long-term customers.
Pick the strategies below that match your financial institution, include them in your budget and then get started on your marketing efforts!
Host Free Financial Classes
When it comes to managing their money, many people need some help mastering basic financial skills. From proper budgeting to learning the best way to navigate a fast-paced housing environment, you can create an educational outreach program that delivers more information about the services and products you want to promote and grow throughout the year.
Instead of developing a “general community bank or credit union marketing plan” that does not provide enough information about a vast number of topics, both financial institutions need to identify the product they want to pitch, examine their customer base to determine the best demographic for that product, and then develop a series of marketing messages that speak directly to the target group.
By identifying the consumers you want to reach, you can also speak directly to the community by turning the spotlight on real customers.
Highlight Your Best Existing Customers
The act of highlighting real people from the town where a community bank or credit union is located gets the interest of potential customers and makes them want to learn more about the bank as well as its services and community efforts. Let them know if you helped a community member secure a mortgage after they fell on hard financial times. Tell them how you assisted their neighbor in financing a new RV.
Highlighting your actual customers is a credit union and bank marketing strategy that makes sure the public knows you are a local bank. More people are choosing smaller local banks or credit unions over the big banks that have locations across the country. It is also a good opportunity for you to perform some research in order to identify customers that are the “best fit” for your bank so you can include them in your direct mail campaigns.
Once you identify and highlight your ideal customers, you can become a bigger part of the community by taking part in local events.
Make Sponsoring Local Events Part of Your Local Bank Marketing
The smaller your bank, credit union and local community, the more you need to sponsor local events to become a vital part of the community. You don’t have to plan or sponsor an entire event. You simply need to be a visible part of raising money and awareness for the community.
Local marketing can cover a variety of efforts including donations to local causes, promoting charity events throughout the year, sponsoring local festivals, or making donations that address community needs such as cleaning up litter and waste or fixing potholes in roads. The amount of publicity you receive will vary per local effort, but you will gain public awareness and goodwill.
Investing in your local community without directly calling attention to your financial institution will give the impression that your organization is ready to invest in the local community and should be the business of choice of local residents.
If you are ready to put these bank marketing ideas to work for your credit union or community bank, call us today about your marketing materials needs.
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