My Marketing Strategy Nicolette Lemmon, President & Founder It is difficult not to roll my eyes when I see the next mention of Bernanke saying that the recession is “very likely over.” Really? What does that mean exactly? From American Banker e-news this morning, the reporter mentioned that the Times and the Post have both reported what seems to be the best nod he has given that the recovery has started. The key, though, seems to be the end of …
My Marketing Trends Kelly Kressner, Marketing Specialist New research from Fiserv has found that 2 million more US households have adopted online banking and bill payment compared to last year. What an incredible shift! With so many consumers relying on online products and services to help manage their hectic lives, is your institution keeping up? It’s important that your website be the virtual branch members can turn to for the financial solutions that fit their needs. How is your financial …
My Analytical Side Denny Koepke, Vice President This summer, we created 6-month reviews for our clients to determine if their marketing plans were working by continuing to build additional business with members. More importantly, was the expenditure of their marketing dollars attracting more results from existing members compared to their new members? In client data, we found that the existing members brought in business at the rate of 3:1 and 4:1 in terms of loan dollars and deposit dollars from …
My Marketing Strategy Nicolette Lemmon, President & Founder Seems that it may be time to review the definition of what customer or member loyalty really means to your organization. For example, many credit unions have created points or other loyalty programs to try and reward members for their long-standing business. But does that work in today’s economy? Are loyalty or rewards points meant to keep a member relationship active and spur word of mouth? An interesting article made me scrutinize …
My Marketing Trends Kelly Kressner, Marketing Specialist Like many marketing and advertising professionals, I am a huge fan of the AMC drama, Mad Men. For those of you who don’t follow the show, it takes place at the fictional Sterling Cooper advertising agency in the 1960’s. To kick off Season 3, show sponsor Eight O’Clock coffee is using a 21st century marketing twist for this 60’s drama complete with an avatar-making site, MadMenYourself.com, an online trivia game and e-cards. At …
My Marketing Strategy Nicolette Lemmon, President & Founder Yesterday in my post, Good News or Bad News? Boomers will have to work longer, I discussed the Boomers and the effect that the economy is having on their spending habits. With the outcome being that most will have to work longer, I was left wondering for my clients if this will end up having a positive or negative impact on the financial services industry? I think it will have a positive …
My Marketing Strategy Nicolette Lemmon, President & Founder I have a new fascination, the attention on the Boomers regarding their spending habits. That’s because I am one, so watching the discussion now of how spending habits are changing of a huge generation, the largest cohort in America’s demographic makeup, is an exercise in self discovery. There have been news stories and blog posts popping up everywhere about the concerns of large brands on the pull-back of Boomers in luxury, electronics …
My Marketing Strategy Nicolette Lemmon, President & Founder Just as the news seems to be good from the stock exchange, there continues to be the shifting sands under companies decades old. It seems that as businesses today are faced with a maddening pace of change, consumer habits have precipitated the demise of several. An example is Max Factor, founded in 1909, which should be celebrating its 100 year anniversary, but instead is being removed from U.S. shelves by Proctor & …
My Marketing Trends Kelly Kressner, Marketing Specialist With an increasing number of financial institutions trying to find their voice through blogs and social media sites, it’s important to make sure that you don’t lose sight of the purpose behind the initiative. For example, has your financial institution recently committed to starting a blog? If so, what is the strategy behind it? If you’re not sure, take the time to understand how blogging fits in with your overall goals. What is …
My Marketing Strategy Nicolette Lemmon, President & Founder While taking a Hawaiian vacation, I was struck by how many ads on television pitch being “locally owned”. In the down economy, there are small businesses trying to use a message like: “When you buy from local small businesses, most of the money flows back into the economy.” Does this resonate with the consumer today or sound desperate? When the only reason that a small business can promote to consumers is to …