gather your wits, sprout a spine, and point out a few things that your CFO/CEO may have overlooked

Why would anyone join a credit union they have never heard of?

To many credit union CFOs (and CEOs that used to be CFOs), Marketing is just overhead. They don’t understand it, they don’t value it, and it doesn’t connect in their minds with the personnel and facilities it takes to keep branches open. To them, cutting the marketing budget is a quick fix when you need…

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Are you fast food marketing?

Today I realized that credit unions may be taking a fast food approach toward their brand and marketing. Do you: Market low cost Not everybody orders off of the dollar menu, and rate shoppers have very little loyalty. Make sure you are attracting the type of member that will use multiple services. Focus on volume…

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Stop acting like you have nothing better to offer than the bank down the street

When price is all they care about

As a consumer, if given the choice between buying what looks to be the same product from two different sources, you would choose the one with a lower cost, right? You probably switch brands of tissues or aspirin or dish soap to whatever is on sale at the store this week without even thinking much…

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Using different words is part of being and becoming different. 

Dirty words

Over the past several years, more and more credit unions have eliminated certain “dirty words” from their marketing and identity. Words like “member”, “join” and even “credit union” are now taboo in a lot of places, and online account access is almost always called “home banking.” And when was the last time you heard “share…

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To succeed, you have to amplify the differences.

Five ways to be more differenter

Remember those Kraft Macaroni and Cheese commercials a while back, where kids exclaimed “It’s more cheesier”? I cringed every time I heard this phrase, and so did thousands of other writers and English majors. Painful grammar aside, the Kraft marketers have a point. To succeed, you have to amplify the differences. Crank up the cheese…

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most CUs have more of an identity crisis than an identity.

What are you known for?

Successful companies are known for something, usually their best-selling product. That something becomes representative of their brand identity. Once they are recognized for that product, they are able to then build on that base and expand their offerings, introducing just enough new variations each year to keep their market connected. McDonald’s has a variety of food items,…

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Marketing is the oil that allows the CU machine to work.

Cutting your marketing budget is dangerous

Budget season certainly seems to be the right time for cutting fat, and unfortunately CFOs always seem to feel that the marketing line needs to lose a few pounds. But cutting your marketing budget will not help you improve your bottom line. In fact, it is likely dangerous. Marketing is the oil that allows the…

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