Marketing is key to the success of any credit union. These days, consumers have more choices than ever before when it comes to financial service providers. That’s why successful advertising is so important. By helping consumers to recognize the benefits of choosing your organization, you can encourage them to register for your services. However, marketing is something that many credit unions find challenging. While banks and large financial institutions find advertising their products second nature, credit unions are lagging behind. As a result, they are losing out to larger financial organizations, even when they can offer better value for members. Many potential members aren’t even aware that credit unions offer many of the same services as banks. Providers of card services for credit unions now offer options, such as online and mobile payments. So, communicating these advantages to the public couldn’t be more important.
The Public Perception of Credit Unions
There is still a perception among the public that credit unions are old-fashioned and offer limited facilities. This is no longer true. Most credit unions are now offering a range of excellent services to members. The problem is that the public is unaware of this. Better marketing is, therefore, essential. Consumers need to know that credit unions offer online services and the option to access accounts through mobile devices. This is where effective marketing comes into play.
When customers discover that credit unions have an online and mobile presence, member numbers increase. Not only that, but costs are significantly reduced. Fewer members will require in-person interactions with employees to get basic tasks done. They will also enjoy a better user experience, which, in turn, boosts the reputation of your organization.
Spreading the Word
The best place to begin promoting online and mobile banking services is with existing members. Marketing to members is cheaper than advertising to new consumers initially. It’s possible to reach existing members in branches and through regular mailings. Pop-ups and posters in-branch can advertise the presence of online and mobile services. With instructions to show how to access the website and mobile app, members will have all the information they need. Adding QR codes to the pop-ups and posters makes it even easier for members to reach online services.
Including information about online and mobile services in regular mailings is also helpful. This is a low-cost way to give existing members the details they need. This an effective campaign for any member who doesn’t regularly go into a branch.
When members call the credit union’s customer service team, you can also promote the online and mobile services. A recorded message on the IVR system can let members know that they could use the app or website instead. Representatives could also direct members toward the online and mobile services to handle their issues.
Highlighting the Benefits
The best providers of card services for credit unions give members many options when it comes to making payments. With online payment portals, members can make their payments via their methods of choice. They can also pay at a time and in a place to suit them. They can even pay from a mobile device if they prefer. BillingTree tailors its payment solutions for credit unions specifically to meet the needs of these financial organizations. By giving members more flexibility, these payment solutions can improve the user experience. As a result, the reputation of the credit union increases, and more members sign up. Yet, while these services are highly beneficial, the key to benefiting from them is letting the public know they exist. Therefore, it is vital to highlight those benefits to both existing and potential new members.