Black Friday Loans: Promotion Ideas To Take Advantage Of

By admin | Loans

May 12
Black Friday Promotions Ideas are very difficult to attain especially when the deadline is drawing near. Despite the fact that Black Friday is almost among us, it’s not too late to create a last-minute promotion. Plus, after the entire buzz created, you can surely still bring about Black Friday until the coming week because you can be the aftermath that people have been waiting for. So, beyond all the Thanksgiving celebration and Black Friday madness, credit unions can come up with promotional ideas that’ll help bring in more members. With more holidays such as Christmas and New Year coming, it won’t be difficult to get people spending anyways. You’ve got some time before Christmas, but you want your organization to start now. Well, here are great ideas to start with!

Black Friday and Cyber Monday Deals

There are several banks and other credit unions that run promos and campaigns every year on Black Friday and Cyber Monday. In the recent years, more and more institutions, specifically financial institutions including insurance, have followed these. Besides, many organizations always take advantage of the holidays. Naturally, there isn’t a reason why credit unions and banks shouldn’t follow these steps. So, what can you promote as a credit union? These could be
  • Personal loans
  • Credit card interest (or even just credit cards)
  • Auto loans
  • Prepaid gift cards
These are just some of the seasonal financial products you can offer. Some institutions and organizations have promoted their product as a 24-hour sale, or if you want, stretch it until the weekend. If you’re familiar with the First Montana Bank, they actually tried this. The campaign brought in over $2-million worth of new loans in just a matter of four hours! And, most of those loan requests came in from new members.

Holiday Loans

So, you’ve got deals earlier, how about doing something for Christmas this year? A special “12 Days of Christmas” full of prizes and surprises. An institution can, during a 12-day period, offer new members an irresistible deal. This deal could be for anyone who switches to your credit union in the course of the 12-day period and will be eligible to win various prizes and could include a luxury vacation trip. If not that, credit unions can also promote personal loans during the festive holiday. During the Christmas season or the holidays, numerous people are less likely to take out a personal loan because it isn’t promoted or conditioned well enough for anyone to actually take. Well, if people care enough to make sure that they have enough money to buy the gifts they want while covering their list of presents, then you can market just about anything. Credit unions are going to have to market their holiday personal loans in terms of how much consumers are actually able to borrow. Plus, presenting how their payments will be (hopefully both quick and easy), you’ve got yourself sold. If your institution can handle it and you’re smart, you can add a “90 days no payment” deal to make the offer even sweeter.

ATM Bonus

If you’re looking for some press coverage, you don’t have to spend much for a press release. You can actually just call your local media outlet, and tell them that you’re randomly handing out 50-dollar bills in place of 20s. How do you do this? Well, it could be through your ATMs. This can be limited to a single day or even in just one location. Plus, it’s easy to control how often it’ll happen. You can place a $50-bill for every 200 or 400 notes of $20 bills. You’ve got to take advantage of the fact that December and January are two of the most cash-intensive months of the year. Why? Well, again, people need money to buy gifts. Plus, people need to go visit an ATM at least once or twice a week nearing the holidays or maybe even a day. So, if these people can receive some form of free cash, why not let it come from you and your credit union’s name, right?

Provide Acts of Kindness

There have been a number of feel-good guerrilla campaigns that have put many companies on the radar when their names weren’t even known before that. So, pick a day or maybe even a week in December. If you want to stretch it out to a month, that’s up to you. But, what you can do is have your employees, or hire people to do random acts of kindness. You can do anything. It could be as simple as providing cookies to your local senior’s center. Or, pay for someone’s coffee or offer someone a coffee on a cold day. You could pick out random people and pay for their gas, all the while taking videos of these acts. You can have someone edit it and post it on social media in the spirit of the holidays.

Provide Cash Incentives

Giving back to your consumers is one way you can capture their attention. So, during the holidays, we’ve already said that people are in need of money. Make use of this knowledge and put in a cash incentive for any product that you’re trying to promote. For example, if you want to run a campaign that’ll promise “up to $300 in free cash,” you could split this up. You could offer $50 for opening a checking or debit account, then another $50 for signing up for your online billing payment app, and $200 for getting a car loan or a house loan. You get the idea, right? If all else fails, then you can do it the old-fashioned way. Bring in a Santa Claus and Mrs. Claus to your credit union branch. This will delight members and even their children that come along with them. You can invite the members to bring in their children to receive a gift from Santa Claus and have their picture taken with him. This exclusivity allows for a less hectic time for the children and parents. They can visit Santa in your branch instead of the malls. Plus, this exclusivity also shows other people who aren’t your members that they can get perks for them and their family. What better way to show them that you also care about those they care for?

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