A report from Credit Union National Association’s First Quarter 2016 Economics and Statistics states that credit unions are continually growing in membership. However, it is not enough that they find more new members. The challenge is also on how to keep existing members engaged and involved.
In this case, inbound marketing will be perfect when it comes to identifying, attracting, and educating high-value potential prospects. By using the inbound process, you will also be able to learn more about you members which will be something you can leverage on in improving your marketing and products.
Here are some of the few ways by which inbound marketing strategy can work for credit unions:
Build brand awareness
Anything about digital marketing begins with being recognized and being found. It all starts with brand awareness. The Internet is a huge place, and you need to make an effort to be found by people you are targeting. You need to give them the information they need and search for. You need to be able to isolate yourself. There should be a web traffic reaching your website.
In order for you to do this, you need to bring your audience closer; you need to be able to reach them. This is something that can be made possible by using strategic SEO tactics on your online marketing, and keywords play an important role here. Pick specific financial keywords that will sound interesting to your target audience. You can start with regularly providing your prospects an informative and engaging content through blogs or social media posts that will increase your chances of getting found on the Internet.
To also attract your target market, you need to be able to answer the possible questions they may already have, so you have to list them down. So, when you publish your online content, you should have answers to these questions so that they will turn to you in the future whenever they have individual financial questions.
Research and learn more about your members
The success of your credit union depends on your members, and learning what works for them is essential in making sure that you sustain your growth, and at the same time, retain your existing members. Aside from finding out the information about your members like their demographics, the things you publish online can help you gain better understanding and knowledge about what interests them as well as their behaviors. You can do analysis on the metrics of your content so that you will be able to identify which topics are more attractive to your readers and which campaigns bring in more questions and inquiries from people. These steps are helpful in identifying which strategies are effective for your prospects and your existing members.
As soon as you have reached a point where your target market is already showing interest and you have established your position as someone they can go to when it comes to financial information, you can pretty much say that you have gained their trust. This is now the time when you can somehow say that they are more likely going to buy what you are selling. Now, you can move on to the next step which is to send them e-mails to clarify their options.
You should not wait for a long time for your prospects to send clues that they are considering joining your credit union. Go ahead and invite them to sign up for your newsletter once they have shown interest by being active on your site.
Work on retention
While it is important to continue to influence more members or retain existing members, it is important that you do not stop to educate and engage them with new contents. Constantly keep your communication lines open so that you remain to be their most reliable resource when it comes to their finances. It is also important to continually pay attention to your members and not neglecting them after signing up. One of the things that will help you keep them is when you make them feel valued. Make tools available for them so that they will continue to be interested in your content which is equivalent to more opportunities.