The Year of Stealing More Loans or Moving Relationships?

As loan demand bumps along at an all-time low for credit unions, what is a marketer to do? Focus on stealing more from other financial institutions. That’s what a CUNA vice president recommended in a recent article on CUNA’s News Now. “On the other side of the balance sheet, it makes sense to redouble efforts to steal loans from other financial institutions,” Schenk said. “While members’ appetites for new debt are low, it may be possible to entice those burdened …

The 3 Questions to Ask Regarding Your Business

My Marketing Strategy Nicolette Lemmon, President & Founder It’s the final lap to finishing 2010 marketing plan with clients and, after conceptually living in 2011, I keep thinking 2010 is over.  It’s a marketing professional’s job to live and think in the future, always planning what can be done next to achieve the corporate goals.  In marketing, the current year has set the foundation for next year’s success. Marketing is all about the future, the foundation for being in business …

Give Thanks for Making It Through 2010

My Marketing Strategy Nicolette Lemmon, President & Founder For the last year, every week when I went to visit my mother in her memory care facility, the treat was to have lunch at the Quiznos down the street. I got to know the owner and often had brief discussions about the business environment and how he lost a lot of business from a mortgage company going bust that had employed 500 people in the office complex near his store. Each …

It’s About the Numbers

My Marketing Strategy Nicolette Lemmon, President & Founder From Credit Union Journal, September 8, here are some stats to consider: “Monthly data complied by CUNA from almost 500 credit unions showed total credit union loans declined by 0.1% during July, and have declined by almost 1% for the first seven months of the year…  NCUA said share growth slowed from 11% annualized for the first quarter to just 0.6% in the second quarter.” In marketing, there has always been a …

Secret Santa Gift Inspires Marketing Music Box Analogy

  My Marketing Strategy Nicolette Lemmon, President & Founder At our office holiday luncheon, my Secret Santa gift was a beautiful keepsake music box that played, “It’s a Wonderful World.” (Thanks, George!) As I watched the gears working together to produce beautiful music, it inspired me to consider what it takes to get that great result. The effort of working to crank up the music box to play for a period of time is rewarded with the success of sweet …

Avoiding the Potential Disconnect with a Strategic Marketing Plan

My Marketing Strategy Nicolette Lemmon, President & Founder Being a marketing strategist, when working with clients, it is easy to make assumptions about the entire organization. Then, I have realized how often assumptions can undermine good intentions. For example, in creating a promotion that includes talking with members about how the credit union can help in refinancing loans to improve the members’ monthly budgets. However, assuming that all the front line staff has experience with budgeting personally or understand how …

Marketing Planning Key Questions

My Marketing Strategy Nicolette Lemmon, President & Founder Since we have been writing and delivering 2010 marketing plans for the last two months, every so often I step back and wonder, “Am I missing something?” It’s always a good idea to check for potential potholes that can undermine all the hard work of generating leads from marketing efforts. Here are some questions that are helpful: How many papers or agreements need to be signed to open an account, apply for …