As credit union marketers leverage a wide variety of digital advertising platforms to build brand awareness and promote products and services, one channel is showing an especially impressive growth rate — streaming audio.
The growing popularity of streaming radio, digital music services, and podcasting has driven digital audio advertising spend over the last few years. It’s now projected to reach an astounding market volume of $11.85 billion in 2027.
If you’re looking to boost your credit union marketing efforts and generate new leads, it’s time to give streaming audio advertising a chance. Here are three streaming audio advertising tactics we particularly love for credit unions.
1. Advertising on Finance and Business Podcasts
Over 82 million people listened to podcasts in 2021 — a number expected to reach triple digits next year — making it an excellent strategy for credit union marketing. Promoting your credit union on finance and business podcasts — for example, ones that help listeners manage debt or save for retirement — allows you to publicize your great rates, low fees, and upcoming events to a large number of listeners.
Depending on the size of your credit union, however, it’s important to not focus solely on the most popular financial podcasts or you’ll wind up spending ad money inefficiently. Consider sponsoring episodes of finance and business podcasts produced locally in your area before going after the ones topping the podcast charts.
In addition, pick podcasts that match your credit union marketing campaign goals and your ideal listener’s goals. For instance, you may choose to advertise on podcast episodes aimed at first-time home buyers, so you can build consumer trust and find listeners who are primed to hear your message.
2. Including a Clickable Call to Action
The basics of an audio ad are a short but compelling script and even music or sound effects to entice listeners. But you should give the most attention to crafting a compelling CTA.
Accompanying your audio ad with an interactive, clickable CTA provides clear-cut direction to minimize any customer journey confusion — like a “tap the banner” button that helps the listener find out if they’re eligible for a new member checking account bonus. A successful CTA (which should be featured as a clickable button and verbalized in your ad copy) can also be especially helpful in drumming up new business and improving the overall customer experience. By clicking or tapping on the CTA, your target audience will immediately be directed to the exact page they’re looking for on your website for optimal convenience and buyer motivation.
3. Offering Time-Sensitive Promotions or Events
Credit unions rightfully take pride in how much they value their members — often providing lower interest rates and more incentives than banks. Credit union marketing that leverages streaming audio advertising is especially effective in sharing brand story and cultivating trust.
Combining heart and practicality propels listeners to visit your website and sign up before the deal is gone.
The best storytellers, though, are the ones who can simultaneously connect with their audience while encouraging them to take action. To do this, complement your brand story with your offers. For instance, promote a financial class with limited spots by tying it to your aim to increase financial independence in your community. Combining heart and practicality propels listeners to visit your website and sign up before the deal is gone.
Thanks to streaming audio advertising’s rise, brands of all kinds are using it to build brand awareness and generate new leads. Credit unions should be no exception. It’s a versatile, innovative way to take advantage of consumers’ TV-watching burnout.
If you’re unsure how to get started or don’t know how to effectively turn your credit union marketing into compelling sound bites, connect with us at Power Marketing. We understand the strategies to make streaming audio valuable so you can capitalize on its momentum.