Times have changed and we cannot count on the fact that the same age groups are using banking services the same way they did in the past. A quick review using MCIF to see the age distribution of new products opened since the first of the year can provide interesting insights. For example, a new credit card product attracted a higher number of older members at one client when the executive team thought it would appeal to middle age and …
With the huge use of digital tools by consumers, from shopping to e-books, as well as the proliferation of new marketing channels from social media to online advertising, marketers have been inundated with pressure to switch their marketing strategy. How is it possible to make the right choice on these channels to reach consumers? Many people jumped online, disregarding any return on investment to be early to try new things, especially trying social media networks. “Social networks are not the …
At a party this weekend, a friend was showing me photos on her tablet taken by her niece who “used to be a photojournalist” and now photographs weddings. The friend explained that the newspaper she worked for laid her off with the decline in readership and subsequent revenue. This was poignant on several levels. First, the friend used a tablet to show me the photos which is a new communication tool. Second, the loss of a newspaper job due to …
In the news, you might have noticed the news about how tablet sales surpassed PC sales in 2011 and they are rivaling laptop sales. The tablet has been a very quick technology change that has also changed consumer habits. When new technology, like a new tool, changes the game so dramatically and quickly, it is hard for marketers to make shifts in strategies to take advantage of the changes. For your brand, the marketing strategy to support it has to …
When studying marketing in college, the description of marketing that has remained my foundation was: “The process of getting a person ready to buy your product or service.” By virtue of building a relationship with someone to get them ready to buy, it is clear that a brand lives or dies according to the attention to this process of “marketing..” Here are three connections to make with consumers to build marketing success: Connection 1 – A person must see, hear …
Have you gone into a Shell branded gas station and found the price on the sign was less than what the pump actually charged you? It happened to me a couple weeks ago and I was shocked when the pump was 10 cents higher in price than on the street sign. Well, I was already at the pump and limited on time to get to the office. Thinking that I had a similar bad experience with the same Shell station, it made me think …
In this crazy economy, things keep changing so quickly that it’s time to create a new approach to using media. I have become fascinated with the claims that traditional media is dead and stumbled upon Deloitte’s fifth edition ‘State of the Media Democracy‘ survey that provides some insights into the use of media by consumers. In their report, the findings were the following percentages of media viability: Television – 83% Magazines – 50% Online – 47% Newspapers – 44% Radio – …
If you think about banking and how we use the services, the choice of a financial institution becomes woven into the fabric of our lives. Once we open our first accounts at a bank or credit union, we generally stay put because our checking account, auto loan, or mortgage, are part of managing our lives. Have you ever heard a staff member say to a member, “Oh, I never have used it but heard that people like it?” Once a …
Do your members/customers love your brand? With the stiff competition in today’s marketplace, senior management may be concerned with what other organizations are doing. However, turning the focus back to their own organization is important to understand how to make their brand lovable! In the next three tips, you will find the marketing strategy, online connections and personal brand tips to consider for your success in 2011! If you find these Marketing Tips worthwhile, tell a friend. Here’s the link …
From overdraft privilege to interchange, “Credit Union Land” is facing many challenges and sharing what executives are thinking across the industry helps highlight opportunities and ideas. All the videos of the CEOs, senior management, marketing professionals and consultants that participated are available to view on the site. A new perspective comes from David Costello, Vice President – Finance/CFO of Securityplus Federal Credit Union. Here, Costello discusses how the biggest challenge that the credit union is going to face this year is sustaining …