BY MATTHEW LORD
Cultivating an analytical marketing mindset and understanding what tools you need to put it to work can propel your credit union’s marketing efforts to new levels of success and member-centricity in today’s digital, multi-touch point environment.
Think of analytics tools as your marketing team’s triple-threat players, able to improve strategic planning effectiveness, growth campaign performance and return on investment. How do they do it? By giving credit unions vital insights into the thoughts and actions that influence their members’ loyalty, satisfaction and purchase behavior.
Taking a Data-Driven Marketing Approach
Here at PSCU’s Advisors Plus Marketing Services, we live and breathe analytics in the course of designing, implementing and tracking the more than 400 credit union marketing campaigns we run each year. From pre-planning, to campaign execution, to post-campaign analysis, our proprietary analytics tools help our clients grow their card portfolios while minimizing risk.
But while our marketing experts are highly trained to handle every detail of structuring and executing a broad range of campaigns, we firmly believe that every credit union can benefit from understanding how an analytics-based, data-driven approach to marketing can grow profitability and maximize their marketing dollars.
Same Marketing Goal, Different Approach
By understanding the data-driven mindset and the basics of analytics tools, credit unions can update the way they address that most time-honored of marketing objectives —delivering the right offers to the right members at the right times through the channels of their choice—to reflect the realities of today’s digital, mobile world.
Think of the challenge this way: No matter how large your credit union membership has grown over the years, there was a time when your organization was small enough that knowing which products and services your members wanted was easy. You just asked them. Then, you listened to what they told you and responded by custom-crafting a solution such as a loan or a CD to meet their precise needs.