Are you prepared for the marketing trends of 2015? The Credit Union Times reported five marketing trends for 2015 last week and as a DigitalMailer client we wanted to let you know how you can utilize our tools to make sure your financial institution is a trend-setter.
The article, which can be seen here, noted the five trends we will see this year are:
- Digital Advertising Dominates
- Making Digital Investments
- Predicting What Members Want
- Making it Real with Video Marketing
- The Latino Market Is Calling
We’ll break down the facts, the predictions and how you can prepare as a client of DigitalMailer.
1. Digital Advertising Dominates
According to the article, credit union marketing professionals expect to see credit unions shift more dollars from traditional advertising to digital advertising.
A Gartner survey showed that digital advertising spending averaged about 25 percent of a company’s marketing budget last year, but around half of those companies plan to increase their digital marketing budget by 17% on average in 2015.
With the increase in millennial consumers, experts recommended an increase in the channels they use the most; digital. One way DigitalMailer is helping credit unions move from traditional advertising, to a more technologically advanced method, is with Leeflet, our electronic brochure solution.
Not only will you send your collateral through an email, but you will also send a one-to-one message, intended for it’s recipient because it was requested. All the while, you will now have the ability to track how your members are reacting to the collateral you send. Check out more about Leeflet by going here.
2. Making Digital Investments
A large change in 2015 will be how credit unions use their websites to help achieve their marketing goals, mainly because members are more likely to spend time on a website than a branch.
Experts expect credit unions to evolve their sites from glorified online brochures into a sales tool that can capture what members and non-members are looking into on the website. Credit unions could then use that information to pitch content that consumers need to help them make purchasing decisions.
“One of the most effective ways to deliver that content is email despite annual predictions of the death of email,” the article stated.
According to a McKinsey & Co. study, “91 percent of U.S. consumers still use email daily. The rate at which emails prompt purchases is not only estimated to be at least three times that of social media, but the average order value is also 17% higher.”
Additionally, nearly 45% of all marketing emails are opened on a mobile device.
DigitalMailer’s email platform, ARB+, is the perfect tool to help you send promotions through email. They can be optimized so members will be able to read the same message on their desktop, iPad or mobile device. With ARB+, you can also set up onboarding series that react to your members’ actions.
Predicting What Members Want
Using the information you already have about your members is a great way to target individuals for promotions. Although the article goes a bit further than the basic demographic data and information you already have about the solutions members are currently using, this is a great place to start!
With AdEngine, a DigitalMailer solution that pulls data from your core or CRM, you can present a “real time” one-to-one revenue-generating offer to your consumers. AdEngine helps you communicate and cross-sell to consumers, by placing ads that are more relevant to the consumer viewing the advertisement. It’s a simple way to advertise more intelligently to your members. Learn more about AdEngine here.
Making It Real With Video Marketing
The article predicts credit unions will start using video to market to their members, stating that it might appeal to the younger generations.
But run-of-the-mill videos aren’t good enough, according to experts. The videos most contain an emotional testimony about how the credit union affects or engages in the lives of the customer.
If you take a step back, before putting an effort into this brand of marketing, you must make sure you have a way to place these videos in front of your membership—either with email or social media. DigitalMailer has partners that specialize in increasing your social media presence—ask your account manager about our partners so you can get started today.
The Latino Market Is Calling
President Barack Obama initiated executive orders two months ago that would allow nearly 5 million of the 11 million undocumented immigrants to continue living in the United States. The Credit Union Times is predicting that this could have a huge impact on financial institutions that capitalize on the situation.
Experts suggested understanding and using social and political awareness of immigration issues to step up marketing messages to attract new Hispanic members. While Hispanics have the same financial needs as the general population, the article suggested that credit unions develop precise marketing messages to Hispanics.
With the ARB+ email platform, you can create specific email lists, based on specific demographics. You can even take it a step further by utilizing variable fields to focus on specific age groups or to recommend the member visit a specific branch depending on their location. You can learn more about personalizing your emails by requesting out whitepaper, “Build a Better Email,” which you can request by clicking here.
If you would like to see the range of solutions we offer, and how they may help your credit union reach its digital marketing goals, visit www.digitalmailer.com.