Albert Einstein once said, “If you can’t explain it simply, you don’t understand it well enough.” We often become so immersed in our day-to-day language that we don’t stop to consider someone else’s knowledge on the subject before attempting to explain something. 

There is no better time than the present for credit unions to establish their presence in the virtual world and position themselves above the competition. As society continues to embrace all things digital, the metaverse has emerged as a promising digital avenue, providing a network that merges physical and virtual worlds and is intertwined with social connection.

As the way consumers interact with brands continues to evolve, there has been a notable shift from traditional advertising to more influencer collaborations. As you scroll Facebook, Instagram or, most recently, TikTok, there is a consistent slew of influencers sharing their experiences with beauty, health and lifestyle brands to their followers.  

Key marketing strategies focus on member data, increasing online brand presence and leveraging social media.

The proliferation of financial service channels has fundamentally changed the way credit unions approach marketing to members and prospects. No longer can marketing strategies be based simply on engaging and friendly in-branch promotions.

How credit unions can leverage community-focused experiential marketing in the age of COVID-19

People love connections. This is partly due to our basic emotional need for belonging and identity. But how can a community stay connected in light of the pandemic? This is a big challenge for credit unions, whose very foundation is built on a sense of community and local connections. In the credit union industry, initiating a positive experience for members requires empathy and listening to their needs. However, before a successful experience can be created, the organization must first understand how member behavior changes and what is most valuable to them.   

2021 was a whirlwind year for many, as evolving consumer preferences and continued health concerns forced many businesses to shift their strategies. As we work on our annual Bankers as Buyers report, which highlights predictions and trends for the financial services industry, we couldn’t help but wonder what the next year will bring. We reached out to the rest of the WMA team to see what they thought. Here are a few PR and marketing industry predictions for 2022:

2 areas of consideration for enhancing your credit union’s digital presence in 2022

While the age of the average credit union member remains in the mid-40s, it is important to recognize that this age range is no longer held strongly by Gen X. Instead, the eldest millennials—otherwise known as the first digital natives—are turning 40 this year, and their expectations should not be taken lightly. A quick Google search paints a picture that has been discussed for years in the financial services industry related to these preferences: easy online account opening, a user-friendly mobile app and the ability to transfer between accounts seamlessly and instantly.

One of the most popular questions we get from clients is, “How do we get on the first page of Google?”  There’s a good reason why this question permeates even the savviest marketer’s mind: statistics show that less than 10% of people move past page one. Whether your business is B2C or B2B, landing a top spot is viewed as essential to any fintech marketer’s goals.  

A key goal for many growing companies is to expand beyond local recognition to become a well-known national brand. This is where a comprehensive, strategic PR and marketing plan can come in, helping to boost visibility and awareness. Here are a few key areas to focus on.

Consistently sharing the right content on the right platform will boost credit unions’ education and membership efforts.

Credit unions have lost a lot of ground with Gen Z and millennials. Why? Mainly because the majority of young adults are not familiar with credit unions. According to a survey of more than 500 college students done by Zogo, 76% of respondents did not know what a credit union was. Those that do know are likely to believe that credit unions are less accessible and more complicated to sign up for than banks.