About ten years ago, the economy was faltering and the mood of consumers was impacted by anxiety over losing money. People were seeing foreclosures on homes and our clients were losing loans due to the bankruptcies of members who had gotten hit with foreclosure as well as a pullback by members who were just afraid to borrow in turbulent times.
On the flipside, there was a liquidity concern as members wanted to have their savings “safe,” so deposits flowed in from stock market investing. So, clients were flush with money that needed to be loaned out and a mood of people concerned to borrow.
As a marketing strategist, the question was how to help our clients attract loans in the downturn economy with anxious members. One client solution was to show a ticker on their website of how many dollars the credit union was saving their members in refinancing loans to lower their interest rate and monthly payments. We showcased the growing savings in their marketing materials (newsletter, promo pieces) as well as in their social media. Plus, the front line helped to identify members who were willing to be interviewed and photographed for use in marketing and social media about their savings.
Each step in telling the story of how the client credit union was helping members put a human twist on the brand.
Key to the “brand story” is that facts don’t sell, emotions do. The opportunity to connect with more people, both members and prospects, has been to move our clients from a history mention in the “About Us” section on the website to having a culture of story-telling. This strategy is meant to engage by having staff involved in finding stories that illustrate the benefit of being a part of the credit union.
For a partner to help develop a storytelling power in your marketing, contact us at firstname.lastname@example.org or call us at 480.967.1405 or toll free at 888.536.6243.