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By Enterprise Car Sales
''Receive a free toaster when you open an account.''
For years, Americans opened checking and savings accounts to collect
this prized appliance. But today's credit unions are taking customer
promotions to a new level - beyond ''door prizes'' to more
strategic, substantive programs designed to not only attract new
customers but keep existing customers ''for life.''
Creativity, innovation and business savvy are the keys to developing
programs and promotions that value members … and that members
will value. Following are a few suggestions to get your marketing
While giveaways can unexpectedly enhance members' lives, scholarships
give credit unions the opportunity to fulfill members' ambitions.
From hundreds to thousand of dollars, the educational benefits of
a scholarship can help a member achieve success and potentially
become a more profitable long-term member.
This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.
If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at firstname.lastname@example.org or 1-800-446-7453.
September 22, 2003
7/26/2012 03:57 PM
To actually enhance existing member relationships, why not simply ask the member what they want? I'm surprised one of the suggestions isn't a Mystery Shopping Program where the credit union creates a listening post to understand membership's needs. More specifically measuring the level of service in the front-line delivery method. In a time where competition is fierce, Service drives Loyalty. "What gets measured Get's Improved." Andrea Huffman Support Financial Resources, a Mystery Shopping partner for Credit Unions. 800.444.5465 x115 ahuffman@ServiceExperiences.com
Some good ideas here, but more is needed to make our member-owners "lifers!"
FI Marketing professionals understand the impact of the economy...over the past 18 months, the US economy has been struggling. Next year ('04) the reports from the Federal Reserve indicate a more stable, growing economy. Consumers are more willing to make a switch in banking providers when times are tough as opposed to making a switch when times are good. FI Marketing, especially Credit Union Marketing, will need to be much more creative and hit the consumer in a more sophisticated informative way...the old ways of Marketing are gone! Jerri Schmidt, Lake Michigan Credit Union
I thought that I would have found new ideas. All the suggestions have been around for a long time!
Credit Unions must use Foresight if they are to survive in the coming years.
Most items noted would seem to be traditional however!
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