• How to Amplify Your Credit Union’s Paid Media Strategy

    When it comes to choosing a credit union, consumers want to stretch their dollar. Before they even complete a membership application, they want to make sure their credit union can prove its value — through insurance with the NCUA, convenient ATM locations, and low interest rates, for example.

    So how can you differentiate your credit union from competitors who offer comparable services to your target audience? By amplifying your paid media strategy. Here are three ways to get started!

    1. Diversify your paid media channels

    To optimize your credit union’s paid media strategy, you must embrace both digital and traditional media placement. With a multi-channel approach, you can better reach prospective customers wherever they browse and keep the creative assets fresh.

    For instance, consider investing in the following: 

    Digital out-of-home (DOOH) advertising places your brand directly in the real world in relevant locations, like where your customers pump gas or buy groceries.

    Contextual ads get your credit union in front of potential customers who are already searching for, say, financial information.

    Display or social media ads with geographic filters ensure relevance — like potential customers living in ZIP codes around your business locations.

    Search ads can promote your credit union when people search for keyword phrases like “banks near me” or “I need to open a checking account.”

    If you don’t take advantage of these important credit union marketing strategies, your advertising efforts will be drowned out by banks and other competitors with more reach.

    2. Prioritize audience segmentation

    One of the most effective ways to attract potential new members is through relevant, targeted messaging. Customer segmentation, which integrates personalization into your advertising campaigns and boosts your ROI, can help you align your messaging to different needs, values, and expectations.

    For example, you may be one of the few credit unions in the area with a mobile app. An ad speaking to this customer convenience would be perfect for tech-savvy young professionals or busy parents who are strapped for time. 

    While finding new credit union members is important, don’t forget about keeping existing members happy as well. Try segmenting your current members by those more likely to make significant purchases — such as cars or homes — and advertising products or services that will align with those investments. Through demographic segmentation, you can identify which members would most benefit from specific programs you offer — like free financial classes — and create ads to target them specifically.

    3. Experiment with video and motion ads

    Video ads dominate the digital advertising landscape. They’re more visually appealing than static ads, allow you to include more information, and increase engagement, making them an essential part of your paid media strategy.

    But what about adding another popular form of digital advertising to your credit union marketing gamut, like motion ads? These short but effective animated videos use text, graphics, and color to capture attention and engage your customers — performing up to 2.5 to 3.5 times better than static images. 

    Being a nonprofit doesn’t mean you have fewer opportunities than larger, richer organizations — let alone fellow credit unions. It just means you have to think outside the traditional credit union marketing box a bit and embrace the ever-evolving digital age to stand out from the crowd.

    You don’t have to do it on your own either. Our team has all the tools you need to launch a full-funnel, multi-channel campaign.