Credit unions face a common challenge: a messaging gap.
Many focus on bottom-of-the-funnel tactics. They jump on every new trend, whether it’s digital, social, or PPC (pay-per-click), and promote rates, services, and financial benefits. As an industry, too often we try to cut corners while others are allocating 7% or more of their revenue on marketing.
Then, we tell ourselves that marketing doesn’t work. Is that fair? Not really. You’re trying to build a house by decorating the living room before laying the foundation. Without establishing a strong base of awareness and trust, everything else risks collapsing because there’s nothing solid supporting it.
You are failing to answer the bigger question: Why should someone choose you over the bank next door?
Branding bridges this gap. It moves beyond what you offer to why you exist and whom you serve.
Top-funnel branding builds awareness and emotional connections. Every credit union solves a problem. Is it helping young families buy their first homes? Supporting underserved communities? Empowering local businesses? Satisfying the unique needs of a Select Employer Group?
Your brand promise isn’t just what you do – it’s the benefit you provide and the problem you solve for your members. Without a clear promise, your marketing risks blending into the background noise. Visibility equals profitability.
Stop focusing solely on attracting ready-to-buy consumers. That’s like fishing in a puddle when the ocean is right there. Expand your efforts to create awareness and draw in a broader audience.
Credit unions often compete on affordability, but you can elevate your brand by focusing on exclusivity. This doesn’t mean turning people away. It’s about crafting a narrative that makes members feel they’re part of something special.
Take the First Step
A strong brand builds loyalty, attracts the right members, and amplifies word-of-mouth referrals.
Start by answering these questions:
- What’s the problem we solve?
- Who benefits most from what we offer?
- How does our credit union uniquely address this problem?
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].
