What makes a great credit union marketing partner so valuable?

The YMC team truly are credit union marketing experts, and we have been for almost 20 years. But one of the biggest misconceptions about a marketing expert is that they have all of the answers. If a potential marketing partner begins to woo you with ideas and answers before they’ve asked a lot of questions… run. Run fast and don’t look back. Expertise does indeed involve supplying a few answers, but expertise is mainly about asking the right questions. The answers should be few, and only come after the truth surfaces through the honest answers to those questions. An example I always use – because it is burned into my mind – as the most important reason credit union marketing experts should ask many questions before answers was a goal setting meeting I had with a new client. “Ten percent loan growth is our goal” they excitedly exclaimed! “Cool, let’s make it happen, but first I want to know why you’re not achieving that now.” That was my question. The answer was as I expected. “We need better marketing!” Of course, that’s why they hired YMC. But I knew better. I pressed in with more questions to gain perspective. What we found were an average of 180 approved loans per month over the last six months. What we also found were on average only 80 of those loans were funded. “What happened to those other 100 loans? That would equal out to more than 10% loan growth!” A timid employee raised his hand. “It’s taking us 4-5 days to get an answer back on those loans, and typically those members have already applied for a loan and gotten in somewhere else before we get back to them.” A-HA! There it is! They, in fact, didn’t have a marketing problem. But asking the right questions as a credit union marketing expert, we uncovered the true problem. And, even more important, if we had launched a freakin’ cool loan promotion to drive more volume, it would have increased their problems, not solved them. More loan applications they would not have replied to in time, further decreasing the trust of their brand within the community, and a lot of good money spent on the wrong solution. Expertise is about curiosity. Curiosity requires that you ask many questions. More importantly, expertise requires knowing what questions to ask to get the answers needed to bring the right solutions, and by extension results, to the table. There are so, so many marketing tools in the marketer’s toolbox available to any competent firm. Asking the right questions, listening to honest answers, and then knowing selectively which tools to pull from the box to provide the right solutions is the job of a true credit union marketing expert. For almost 20 years, the credit union marketing experts on my team at YMC have been doing just this. We’ve crafted a time-tested process that allows us to gain perspective, understand the problems, and then creatively solve those problems that lead the credit union to growth. As we head into the new year, are you sure your marketing partner truly knows what tools to use? Have they asked the right questions to gain the perspective they need to know what problem to solve? We can help.

Why Credit Union Marketing Doesn’t Work (and How to Fix It!)

If you’ve ever felt like shouting into the void when promoting your credit union, you’re not alone. It can feel like no one’s listening, and you’re left wondering why your perfectly crafted messages aren’t landing. But fear not! We’re diving into three reasons why credit union marketing often falls flat—and, more importantly, how we can turn things around. 1. Too Focused on Products, Not People The Problem: Let’s face it, folks. We’ve all been guilty of pushing products a little too hard. It’s easy to get caught up in promoting that low-interest rate or the latest loan offer. But the truth is, our members (and potential members) aren’t just looking for a financial product. They’re looking for a partner who understands their needs and dreams. The Fix: Shift the focus to storytelling. Share member success stories, community involvement, and real-life examples of how your credit union makes a difference. Showcase the people behind the numbers and the community you’re building. This approach not only humanizes your brand but also creates an emotional connection that a mere product can’t. 2. Boring and Bland Messaging The Problem: Credit unions often struggle with messaging that feels dry as toast. Whether it’s due to compliance fears or simply playing it safe, the end result is content that’s forgettable and fails to engage. In a world where people are bombarded with information, bland just won’t cut it. The Fix: Inject some personality! It’s time to embrace a more relaxed and conversational tone. Don’t be afraid to have fun with your messaging—use humor, get creative with visuals, and try out different formats like videos or podcasts. Remember, your credit union is part of a vibrant community, and your messaging should reflect that energy. 3. Ignoring the Digital Landscape The Problem: Sticking to traditional marketing channels and underestimating the power of digital marketing is a big mistake. Many credit unions are still lagging in their online presence, missing out on opportunities to engage with younger, tech-savvy audiences. The Fix: Go digital and go big! Invest in a user-friendly website, active social media presence, and targeted digital ads. Use data to understand your audience’s online behavior and tailor your campaigns accordingly. And don’t forget about SEO—make sure your content is optimized so people can actually find you. The digital world is your oyster, so don’t be afraid to dive in. By focusing on people over products, spicing up your messaging, and embracing digital channels, you can breathe new life into your marketing efforts. Remember, it’s all about connecting with your community in a meaningful way. So, let’s ditch the old playbook and start making waves together! For over 15 years, we’ve helped credit unions grow their digital presence through vibrant messaging that puts people first. And we’re eager to help yours too.

Social Media Manager

Key areas of responsibility include Other responsibilities:– Updating digital screens, on-hold messages, online banking and more as needed for credit union clients. Does this sound like you? We have a world-class marketing team striving to build relationships, ideas, and results for our team and around 30 progressive, driven credit unions across this country. Our environment is fun and fast-paced, and we are passionate about growing personally and professionally. At YMC pushing the limits of marketing is the everyday norm. Essential Skills and Experience: Your Marketing Co. is an independent marketing agency that serves credit unions and community banks. We keep our work honest and relevant because our clients are giving real value to real people. Our culture centers around the understanding that our work ultimately is responsible for changing lives and strengthening communities across the country. Let’s do great things together.     Position not available to candidates living in NY, CA, IL, CT, MA, or OR.  

James Carville, Newt Gingrich, and Credit Union Strategic Planning

James Carville and Paul Begala, two of the brightest brains behind President Bill Clinton’s administration, authored a book that has some great insights for all leaders. Despite being political enemies in the 90’s, Buck Up, Suck Up… and Come Back When You Foul Up: 12 Winning Secrets from the War Room includes a story about Newt Gingrinch that every leader should read and heed—especially when it comes to credit union strategic planning. Here’s the excerpt: Newt Gingrich is one of the most successful political leaders of our time. Yes, we disagreed with virtually everything he did, but this is a book about strategy, not ideology. And we’ve got to give Newt his due. His strategic ability—his relentless focus on capturing the House of Representatives for the Republicans—led to one of the biggest political landslides in American history. Now that he’s in the private sector, Newt uses a brilliant illustration to explain the need to focus on the big things and let the little stuff slide: the analogy of the field mice and the antelope. A lion is fully capable of capturing, killing, and eating a field mouse. But it turns out that the energy required to do so exceeds the caloric content of the mouse itself. So a lion that spent its day hunting and eating field mice would slowly starve to death. A lion can’t live on field mice. A lion needs antelope. Antelope are big animals. They take more speed and strength to capture and kill, and once killed, they provide a feast for the lion and her pride. A lion can live a long and happy life on a diet of antelope. The distinction is important. Are you spending all your time and exhausting all your energy catching field mice? In the short term it might give you a nice, rewarding feeling. But in the long run you’re going to die. So ask yourself at the end of the day, “Did I spend today chasing mice or hunting antelope?” So I ask: Where is your energy being spent? On field mice or antelope? It’s easy to bask in the success of a small victory, but did you really accomplish anything? The YMC strategic planning process is built around helping your credit union find and attack the antelope for big wins that fuel real growth. Are you ready to take that next step? Email Bo, and let’s get hunting.

Top 3 Trends in Credit Union Marketing

Credit unions are stepping up their game in the ever-changing financial world. With 2024 in full swing, three major trends are making waves in credit union marketing: digital transformation, personalized member experiences, and community-centric branding. Let’s dive into how these trends are driving success and growth for credit unions. 1. Digital Transformation The digital age is here, and growing credit unions are riding the wave to connect better with their members. With more people banking on their phones, it’s crucial to keep up. What’s Hot in Digital Transformation: 2. Personalized Member Experiences Members expect their credit union to understand them and cater to their unique needs. Personalization is key to standing out. How to Personalize: 3. Community-Centric Branding Credit unions have always been about the community, and now it’s a major marketing strength. Showcasing community involvement can boost loyalty and attract new members who care about local impact. Community-Focused Strategies: Credit unions that embrace digital transformation, personalize member experiences, and focus on community-centric branding are set to thrive. By leveraging these trends, you can engage members better, build stronger relationships, and drive growth in 2024 and beyond.

Crafting a Strategic Marketing Plan for Credit Unions

In this very competitive financial landscape, credit unions have no choice but to differentiate themselves to attract and retain members. A well-crafted, strategic marketing plan is essential to making this happen. It’s not all inclusive, but here’s a peek behind the curtain of how we craft our credit union strategic marketing plans, walking you through a plan that aligns with your credit union’s mission while also driving growth and member engagement. Step 1: Understand Your Credit Union’s Mission and Goals Every credit union marketing plan starts with a clear understanding of your credit union’s mission, vision, and long-term goals. That is, assuming you have a well-defined mission and vision (if not, we start there)! This ensures your marketing efforts are aligned with the overall direction and ideals of your organization. Step 2: Define Your Ideal Member (Target Audience) I like using the term “ideal member” for your target audience. An ideal member is the one member you can point to and say, “This is the one member I would duplicate a thousand times to bring to our credit union.” Understanding your ideal member is crucial for effective marketing. Segment your audience based on demographics, psychographics, and behaviors to better understand your ideal member. Step 3: Set SMART Marketing Objectives Your marketing objectives should be SMART—Specific, Measurable, Achievable, Relevant, and Time-bound. These objectives will guide your marketing strategies and tactics. Step 4: Develop Marketing Strategies and Tactics Based on your objectives, create strategies and tactics that will help you achieve your goals. These should leverage strengths and opportunities while addressing weaknesses and threats. Step 5: Allocate Resources and Budget Determine the resources and budget required to implement your marketing plan. This includes financial resources, staffing, and technology. Step 6: Monitor, Evaluate, and Adjust Regularly monitor and evaluate the effectiveness of your marketing plan. Use Key Performance Indicators (KPIs) to track progress and make informed, data-driven decisions. Creating a credit union strategic marketing plan is essential to thrive in today’s competitive environment. By understanding your mission, defining your ideal member, setting SMART objectives, developing effective strategies, allocating resources, and continually monitoring your progress, you can build a marketing plan that drives success and fosters strong member relationships. Remember, a successful marketing plan is not a one-time effort but an ongoing process of evaluation and adaptation. Are you struggling to craft a marketing plan that aligns with your goals and achieves success? For over 15 years, we’ve worked with hundreds of credit unions to attract and retain new members and loans. We can help yours, too. Just email Bo for a no obligation conversation and let’s see where it goes.

Great Credit Union Marketing: Defined

If we’re going to define great credit union marketing, we must also define bad credit union marketing. So, what is “bad” credit union marketing? “Bad marketing is about you, your company, your product, your service, how many years you have been in business, and what your rate is.” In short, bad credit union marketing is about your credit union. Great credit union marketing is never about your credit union. Great credit union marketing is about the member. More specifically, great credit union marketing is: Great credit union marketing is about the member, and it’s about how your credit union’s products or services can improve the private little world they live in. My advice: Try something new. Give it time to work, but if it doesn’t work, try something else that is new.

Unlocking the Potential of Your Credit Union: The Benefits of Outsourcing Marketing

In today’s competitive financial landscape, credit unions face the dual challenge of attracting new members while retaining their existing ones. Effective marketing is essential to achieving these goals, yet many credit unions struggle with the resources and expertise required to create and execute successful marketing campaigns. This is where outsourcing your marketing is a game-changer. Let’s get into the key benefits of outsourcing your credit union’s marketing efforts. 1. Access to Specialized Expertise Marketing is a broad field that encompasses various specialties, from digital marketing and social media engagement to traditional advertising and public relations. Outsourcing your marketing allows you to tap into a diverse pool of experts with specialized skills and knowledge. Marketing professionals are up to date on the latest trends and technologies, ensuring your credit union’s marketing strategies are fresh, cutting-edge, and above all effective. 2. Cost-Effective Solutions Hiring, training, and retaining an in-house marketing team is expensive. By outsourcing, you save on costs related to salaries, benefits, training, and overhead. This approach is particularly beneficial for smaller to medium-sized credit unions with limited budgets, as it provides access to top-tier marketing talent without the associated full-time expense. For example, partnering with YMC is equal to or less than the cost of employing even a single full-time marketing professional, let alone a marketing team. 3. Focus on Core Competencies Outsourcing marketing allows your credit union to focus on what it does best – providing exceptional financial services to your members. By delegating marketing tasks to an external team, your staff can concentrate on core operations, improving member services, and other strategic initiatives that drive overall growth and member satisfaction. 4. Scalability and Flexibility Marketing needs often fluctuate throughout the year, with certain periods requiring more intensive efforts than others. An outsourced marketing partner can easily scale services up or down based on your credit union’s needs at that time. This flexibility ensures that your marketing efforts remain effective and responsive to changing circumstances without the need for constant staffing adjustments. 5. Enhanced Digital Presence In the digital age, having a robust online presence is crucial for any financial institution. Outsourced marketing teams are well-versed in the latest digital marketing techniques, including search engine optimization (SEO), social media marketing, content creation, and online advertising. We possess the know-how to help your credit union build and maintain a strong digital presence that attracts and engages members. 6. Measurable Results and Accountability Professional marketing agencies such as YMC use data-driven approaches to track the performance of their campaigns. They provide regular reports and insights, allowing you to see what’s working and what’s not. This transparency ensures accountability and enables you to make informed decisions about your marketing strategies, optimizing your return on investment (ROI). Outsourcing your credit union’s marketing efforts provides numerous benefits, from cost savings and specialized expertise to increased flexibility and innovative ideas. By partnering with a professional marketing agency, you enhance your credit union’s visibility, attract more members, and ultimately achieve your business goals more efficiently. Embrace the power of outsourcing and unlock the full potential of your credit union’s marketing strategy. For over 15 years we have worked with hundreds of credit unions and helped them get unstuck to find the growth they desired. We can help you, too. Get started by scheduling a conversation today.

Insane Growth At Credit Unions Could Be A Killer

One thing I am always open to is admitting when I am wrong. As I’ve gotten older and matured as a leader, I’ve had to look back at things I’ve said and re-think them. There have been many times as a youthful leader I started a sentence with “I’ll never…” and found myself eating those words. Most of the time, it’s not because I was wrong per se, but because as I’ve invested in myself through reading, working with coaches, and personal growth, I’ve had to change my mind on certain things. What worked for me 10 years ago doesn’t necessarily work for me now. One of those things I’ve had to change my mind about I want to share with you today. It’s the concept of “growth.” WE NEED TO GROW! Your credit union needs to grow! “Growth” is a loaded word that can have many meanings. For example, “you need to grow as a person.” Without context, that could very well be a recommendation to gain weight. Jeff Siegler explores this thought in a recent article on this very subject as he explores the “growth” of cities from a planning perspective. “Eating garbage food and being sedentary is the easiest path for a person to grow, but we all know that such growth is quite unhealthy. We don’t need to be fitness experts to understand that this behavior would have seriously negative impacts on the health of an individual. Simultaneously, a person could increase their weight by strength training and eating a higher protein diet. Muscle increases are shown to increase metabolism, bone density and lead to an overall higher quality of life. A person could grow fatter or more muscular, but we would never equate the two as being the same.” As the chairman of the planning commission for my city, in hopes that we will “grow” I’ve had to take a hard look at the meaning of growth. I realized our city does not need to grow big. We don’t need to grow for growth’s sake. In fact, I’ve embraced our word of the year at YMC and replaced the word growth with “vibrancy.” Siegler shared these wise words on “growth” that, while meant for city planning, applies directly to the growth strategies we often consider as credit unions: “Not all growth is good, and far from it. Quality is the crucial component to consider, because, just like a person, a community can expand without ever improving. In fact, when a city or town grows without giving credence to quality, they are most likely declining. Paving new roads does not make a community better, increasing the number of national chains does not make a community better, building more auto-centric vinyl subdivisions does not make a community better. Yet, these are all economic development policies that most places adhere to. These are growth strategies, not improvement strategies, and blindly adhering to growth policies is insane.” Membership growth or asset growth alone for a credit union doesn’t mean quality. Adding a new mobile app does not make a credit union better. Building a new branch does not make a credit union better. It could be a good growth strategy, but it doesn’t mean an improvement strategy. Growth and improvement must go hand in hand if you don’t want an endless cycle of courting a new member only to have them roll off the books and close their account within a short period of time. Let me share these words again: “Blindly adhering to growth policies is insane.” What does this mean? Perhaps your strategic planning session this year needs a fresh look. Perhaps the strategies you are implementing need to be discussed and questioned. Perhaps the tactics of those strategies should also be reviewed. If you need a fresh voice, we have facilitated many strategic planning sessions for credit unions who have found themselves stuck, and we can help you too. Ready? You’re just one email away from getting unstuck and seeing a more vibrant credit union!

What Is Holding Your Credit Union Back From Growth?

FEAR! Wait, I know if you’ve read my articles before, you’re likely thinking, “NOT AGAIN!” Stick with me. I want to take a deeper dive into this thing called “fear” and provide some resources that can help you or your team get unstuck and push past the fear. First, fear in the credit union leadership office or boardroom doesn’t usually look like fear. It usually comes in the form of a new, uncomfortable idea. In a recent credit union strategic planning session with Riverfront Federal Credit Union, CEO Tim McLeod shared how many peers will ask about some of the innovative strategies and technologies his credit union has adopted over the last year, then is met with comments like, “We could never do that,” or “That is too expensive!” Hold your horses! Those comments are made with zero perspective on what it took to bring that new strategy to life or how much that new technology cost. Their limited mindset instantly goes to “new technology = too expensive.” It’s not just Riverfront getting met with these comments. Time and time again, I’ll see our best practice credit union clients who see long-term success prodded by peers about what they are doing, and then met with comments like, “I don’t know how NCUA is letting you get away with that,” or “Gosh, that’s too expensive.” Those comments are nothing but fear, and fear is a lack of perspective. How the team at Riverfront and many of our other best practice credit union marketing clients gain perspective is by removing fear and making good decisions. Let’s put it this way: Most things we fear are rooted in similar ignorance (or nicely put, lack of data or perspective). If you don’t know what a tornado is or what’s behind an earthquake, it may well seem like the wrath of an angry or vengeful god. But, if you step back and learn about atmospheric pressure or tectonic plates, it’s not quite as scary. You have facts and understand what the true nature of these events. Of course, it can still hurt you, but you’ll be both better prepared and less likely to take it personally. A recent passage from Daily Stoic summed it up nicely: “We are afraid of what we don’t understand. We are vulnerable to what we can’t grasp. This is why science and history and good ole’ personal experience are so essential. They make us wiser but also braver. Because now we know, and once we know, then we can know what to do. We can know how to prepare.” Implementing AI at your credit union isn’t as scary when you dig deeper to understand how it works and how others are using it. Technology may not be as “expensive” as you think, especially if you look at the impact it could have on growing your credit union. If you need help gaining some perspective and getting unstuck to move your credit union closer to its goals, we can help. Over the last 15-plus years, I have helped hundreds of credit unions find opportunities and implement marketing strategies that led to growth and created a positive impact for their members and their community. My team can do that for you, too.