It’s not just about newsletters anymore. Success takes big-picture view—and leveraging data—to reach the right people. By Mark Weber 
Two years ago in this CUES Skybox blog post, I wrote “… the role of a marketing professional has taken on a level of complexity previously unimaginable, encompassing digital media, SEO, SEM, social media, matrix marketing and organizational branding, as well as driving revenue.” Today, these sophisticated challenges and countless new technologies continue to gain momentum, literally creating a new world of credit union marketing. Member newsletters, brochures, lobby promotional posters and mainstream advertising will no longer get the job done. Instead, credit unions need a holistic strategic marketing approach that drives real business and builds brand distinction, bringing together technology, research, product development and the consumer experience. Industry leaders are doing it; some of your competitors are doing it—are you responding? Savvy credit unions are developing data-driven segmentation systems to understand where new members and revenue are coming from and where they can derive future growth. Some are going further by using data to drive predictive analytics. By looking at actions members are taking every day, they can anticipate future behaviors, estimate how relationships with the credit union may develop over time, and proactively deliver solutions at the right time and place. One-to-one marketing is a game-changer in driving growth. Consider millennials, everyone’s favorite (but not well defined) target market. Offering an attractive, no-minimum-balance checking account with a debit card is the price of admission for attracting these households. The next step to building a viable relationship is recognizing when they’ll need a credit card, an auto loan or a first mortgage. Interpreting data already at your disposal and using predictive modeling to anticipate critical decision points puts you top of mind to retain and expand millennial households with growing wallet share. Many credit unions have dabbled in social media: a Facebook page, Twitter account and YouTube videos. As existing channels mature, what’s next on the horizon? Here’s a wake-up call: Research shows that only 2 percent to 9 percent of credit union posts on Facebook are reaching their intended audience. To elevate your game, you now need to be more strategic in content strategies to improve two-way interactions with consumers and help them make decisions. You also need millennial staff and pro-social media policies to encourage smart content development. All marketing efforts should stem from the foundation of your brand. Finally, branding has become valued at the C-suite. Brand experiences occur every time someone touches your organization or one of your channels or any piece of communications. If your brand is well defined and tightly integrated, positive experiences can grow net new members at higher rates, increase share of wallet at a faster rate and accelerate profitability. If this shift seems daunting at first, check out the resources, tools and a network now at your disposal, like those taught at CUES School of Strategic Marketing I and CUES School of Strategic Marketing II. During the four years of my affiliation with the school, it’s been rewarding to see marketing professionals and even CEOs, chief technology officers and chief operations officers embrace the models and practices of strategic marketing to position their organizations for accelerated growth and success. CUES member Deborah Mersino, CSME, chief marketing officer of $1.3 billion Oregon Community Credit Union, Springfield, Ore., reflects: “Attending the CUES School of Strategic Marketing provided me with an ideal opportunity to not only garner best practices and analytical insights, but also to learn and discuss strategies and tactics relative to branding, product marketing and branch archetypes in the credit union space.” It’s an exciting time for credit unions that are capable of bringing together their strengths and refocusing their leadership skills and resources into cohesive, enterprise-wide marketing and brand strategies. The payoff is unlimited. Mark Weber is president/CEO of Weber Marketing Group, Seattle. This valued CUES Supplier member is one of the top branding, strategic marketing and branch retail specialists in the financial services industry. Join Weber and several of his colleagues to learn how to put the strategy in marketing at CUES School of Strategic Marketing I, July 18-20, and CUES School of Strategic Marketing II, July 21-22 in Seattle. Save $400 when you register prior to June 3!
