My Marketing Strategy
Nicolette Lemmon, President & Founder
These economic times are changing how Americans are viewing their futures.
For some, it is too late to accumulate enough working capital to generate a lifestyle in retirement that is not without sacrifice. Baby boomers, over the age of 50 have between 12 and 15 years to create a portfolio that will sustain their needs in lifestyle, especially medical issues, through 20-30 years. The downturn in the stock market and loss of equity or value in their homes has created shock and despair.
For younger working adults, ages 25-49, the opportunity exists to amass working capital of millions of dollars to sustain a lifestyle of freedom in their retirement. Yet, trying to find ways to save in an economy where unemployment is at its highest in many decades and returns on savings or portfolios are largely depressed seems insurmountable.
What is the way out of economic paralysis and into the light of progressing forward?
Become the resource that a member can turn to for sound financial advice and help them to understand the value of the credit union through their life. Consider creating advertorials with helpful advice in community papers or localized magazines. Then, use the same advice articles in an online resource center on your site. Another strategy that we incorporate with clients is to promote financial seminars using the credit union’s financial planners, loan officers, and other knowledgeable staff. For retaining members’ confidence, we also created a program that targets large depositors with special touches.
The key is to develop marketing strategies to position our clients as a trusted resource that provide value to their members, especially within a tumultuous economy.