If you want your credit union to stand out this Christmas season, it’s not about offering the biggest discount or plastering holiday cheer everywhere. And like a shattered glass ornament, I’m going to start by chipping away at some of your expectations for the holidays:

• Digital ad spending is expected to grow 10%–15% during this holiday season.
• The cost per thousand impressions (CPMs) rises 30%–40% during peak holiday times.
• 40% of U.S. consumers begin their holiday shopping before November. (Why do you think I’m writing about this in September?)

Now that I’ve captured your attention, you’re probably ready to write off all your festive visuals and flashy promotions altogether since you might already be a step behind the sleigh or hate the idea of spending more.

Well ho-ho-hold up!

How to Stay Competitive

Let’s untangle that mess of Christmas lights and brighten your outlook: While costs increase, so do conversion rates. According to a Shopify study, brands typically see a 35%–50% increase in conversion rates during the holidays. Despite higher costs, the ROI for holiday campaigns can be up to 4–6 times higher than non-holiday periods.

The holiday season can tempt brands to completely overhaul their image in favor of festive aesthetics, but here’s the truth: it’s a mistake. Your core identity is what sets you apart from competitors, and it should remain the cornerstone of your holiday campaigns. 

The key is finding balance. Yes, embrace the festive cheer, but do it in a way that enhances who you are as a brand, rather than overshadowing it. Note well: Uncertain about the current direction of your brand? Let’s talk about it.

Don’t Rely Solely on Discounts

Now, let’s be clear: Discounts are part of the holiday game, but they shouldn’t be your entire strategy. Consumers are savvy, and during the holiday rush, sales are everywhere. In fact, 42% of consumers say they are more likely to ignore brands that focus solely on discounts and promotions during the holiday season.

What really makes a difference is emotional storytelling. During the holidays, people are more receptive to messaging that tugs at their heartstrings. So, rather than relying solely on sales-driven tactics, tell stories that resonate. Show how your credit union supports local communities, helps families achieve their financial goals, or makes a tangible difference in people’s lives.

Santa Doesn’t Visit Just One Chimney

Leveraging multiple platforms is critical. According to Salesforce’s Holiday Shopping Report, 65% of consumers engage with brands on multiple channels before making a purchase. For your credit union to succeed, you must combine paid social ads, email marketing, display ads, and in-store promotions to maximize reach. The more unified your strategy, the stronger the impact.

One of the most powerful tools you have in your arsenal is personalization. Consumers expect tailored experiences, and your credit union has access to data that allows just that. Whether it’s through personalized emails, special offers for long-time members, or holiday greetings that address members by name, personalization makes your members feel valued and understood. In a world filled with impersonal holiday campaigns, a personal touch can be a game-changer.

Video is King

Finally, if there’s one medium you should invest in this season, it’s video.

Video content consistently outperforms other formats in terms of engagement and conversions. Did you know that 80% of internet users watched a video ad in 2023? Consumers are more likely to engage with interactive or engaging video content, especially on platforms like YouTube and TikTok. Video ads often have click-through rates (CTR) that are 3–5 times higher than static ads, especially during the holiday season.

 Whether it’s a heartfelt member testimonial, a story about how your credit union is supporting the community, or a simple, shareable holiday greeting, video brings your brand to life in a way that static images and text just can’t. And in a crowded marketplace, that extra emotional pull can make all the difference.

The bottom line is this: Credit unions have a unique opportunity to connect with their members in meaningful ways during the holiday season. Strong creative, coupled with real-time optimizations, ensures you’re maximizing your return on investment. 

Don’t just settle for being another credit union offering a rate discount or pushing some boring cliché Christmas on your members. Make your members feel like they are a part of something bigger. This season, it’s about connection, loyalty, and making a lasting impact.

As Vice President of Brand Experience for Your Marketing Co., Frank Allgood works with credit unions to develop strong leaders, create effective training programs, and build powerful brands. Want to connect? Call 864.326.8740 or email [email protected].