It’s naturally very difficult for small business such as credit unions to stand out every holiday event. You’ve got tons of events in a year, but the competition becomes increasingly worse each year that pass. Plus, you’re competing with very big company names and financial institutions. So, what can credit unions do to stand out on an event like Black Friday? Or even the upcoming festive holiday some call Christmas? Well, here are No Joke Credit Union, we’re dedicated to help small businesses stand out. Specifically, credit unions.
Whether your focus is online or offline, you’re going to have to deviate from what people know. You’ve got to look at how people, who aren’t already your members realize that there are a lot of advantages to choosing a credit union. In essence, a lot of people, who aren’t credit union members, think that the advantages of becoming a member in a credit union includes, but isn’t limited to the following:
- interest rates are superior;
- money is protected and insured;
- more fee-free accounts are available;
- members are shareholders;
- and credit unions are not for profit.
However, when you own a credit union, you know for certain that there’s so much more to credit unions than what’s really thought of. As an owner or employee of a credit union, you know that you believe in what you do. The members always come first. So, how do you put those advantages into action and stand out? Well, as the movie Mulan goes to say, “let’s get down to business.”
What can credit unions do to stand out?
So, competing with big companies for a spot in the limelight may be difficult, especially when they dominate in promotions in Black Friday and Cyber Monday. The smaller business owners or smaller businesses may feel like they can’t do anything to stand out. This is more so when the customers are already in a frenzy buying out purchases for the event and the upcoming holiday.
Well, if you’ve ever heard of guerrilla marketing
, you and your creative team can definitely whip something up. There are so many creative moves that credit unions can do to help not only themselves but also other small mom and pop shops in the vicinity. Affiliating with smaller businesses
on those big sales can attract the people to your credit union too. You could host a Black Friday event that offer free coupons or codes with special offers to your existing members. These are for small businesses in your vicinity that also helps small businesses. By doing it this way, you could offer a new partnership of agreement with those small businesses to your credit union.
Steps to standing out
Standing out among the sea of competition could be difficult as treading across the ocean of big names could drown a small business. But, don’t you worry. There are two steps to help your credit union stand out while helping others in the process too! These are: play to the small business advantage and make it fun. That’s it. It’s definitely easier said than done, but that’s just how it goes.
Playing the small business advantage
So you can’t compete. Let’s be real and say this out loud. We really can’t compete with larger financial institutions even if we provide something better. Especially with the discounts? You’re going to lose so much money that you can’t afford. But, what you can do is provide your existing members a “gratitude party.” This offers them a special sale or discount and even a gift from your institution. However, the thing is, you’re going to have to do it before Black Friday. Why? So, you can show that there’s no good or bad time to be grateful for their alliance to your institution. If you want to help out other small businesses, you can order the token of appreciation from them. Besides getting a hefty discount, both your names will be known and enjoyed.
Why is this considered the small business advantage? Well, since you have a number of following, it means you’ll be able to provide more attention to people. You see nowadays a lot of people don’t get the attention they deserve. So, as an institution that can provide this instead of money hungry corporations, well, you’ve done your job.
Making it fun
It’s difficult to come up with ideas on how to make things fun. It seems everything has already been done. But, you know what? It’s fine to use an idea and make it your own. As we’ve suggested earlier, give your members or customers attention. By giving them your personal attention and letting them know that you appreciate them, that is how you’re going to stand out. So, you should know them by name and see what they like. With this, you can give them the proper promotional items they’d truly appreciate from you. Logistically though, this can be quite a handful, but again, there are numerous ideas that you can put into action. You can send out coupons or even make special events just for your members while everyone gets to envy them.
In all honesty, credit unions are unique. You’ve got to use this uniqueness to your advantage. Plus, the endearing qualities of this financial entity will help it go a long way. The philosophy of credit unions always creates an advantage compared to banks. Banks make numbers of everyone while credit unions know their members and their names as they’re important. So, check to see what you can offer your members to help you stand out during Black Friday!