Many credit unions are struggling to get results and show a positive ROI with their digital marketing efforts. Having worked with many credit unions, I wanted to share the tactics that have been the most effective for us and our clients.
I have one caveat to all of this, and that is in order to do digital marketing effectively, and to show an ROI, you must have the right measurement systems in place. At a minimum, you’ll have Google Analytics installed on your website, and you’ll be tracking conversion activities.
With tracking in place, commence your digital marketing and analyze and make improvements are you go.
Search Ads Still Reign Supreme
It seems everyone at this point is familiar with search ads. If you’re not, we’re referring to the text ads that appear at the top of search results. This is still some of the best real estate on the internet because if you choose to bid on the right keywords (more on this in a moment) you have a high likelihood of reaching a prospective member with high purchase intent.
To run effective search ad campaigns, you need to make sure the keywords you’re bidding on, and your ad copy, and the landing page are all in close alignment with the searcher’s intent.
Break up your search campaigns with targeted ad groups. These ad groups could be based on products, or specific keyword groups within a product segment.
For example, you could have a mortgage campaign, but within that campaign you have several ad groups for related keywords, such as mortgage rates, mortgage calculator, mortgage fees, [city name] mortgage, etc.
Pro-tip: Get off the old-school marketing calendar and run your targeted search campaigns year-round. This gives the platform opportunity to self-optimize and improve performance over time. Running monthly or quarterly campaigns is not as effective as running campaigns long-term.
Remarketing ads, or display ads served to specific audiences after they visit your website, can leave a memorable impression.
In most cases, you can segment your remarketing ads to show specific ads to audiences you define. For example, show mortgage ads to a visitor who previously visited a mortgage page of your website.
If you have a remarketing pixel (on Google Adwords) or a Facebook Pixel installed on your website, you can create “look-back” audiences for those ad platforms.
This is particularly helpful when doing a product promotion. Part of your promotion plan could include a remarketing campaign to people who visited that product page of your website during the previous 30 or 60 days, for example.
For more on advertising, check out: The Most Effective Digital Strategies For Credit Union Advertising
Optimize The Local Search Presence
When a prospective member searches online for credit unions in your area, does your credit union show up in the results?
If so, how does your online presence compare to others in the area? Does your credit union show up on map results? Are there positive reviews?
This is not a new tactic, but Local SEO remains a powerful method of attracting new members.
At a minimum, you should have:
- A claimed and optimized Google My Business (GMB) listing for each location
- Populated your GMB listing with photos
- A couple reviews on the GMB listing for each location (Don’t fudge this one. Request reviews from real members.)
- A unique page on your website for each location
The Ultimate Goal of Your Digital Strategy
The concepts in this article represent some of the most effective credit union marketing strategies we’ve used to attract new members and to upsell existing members online.
Through whatever digital tactics you deploy, your ultimate goal should be to meet the financial needs of members and prospective members.
Search ads can reach users at their specific time of need. People turn to search engines to answer questions and find solutions. Your ads can reach the right targets at the right time.
Remarketing ads can deliver an efficient, low-cost, and high-frequency of ads to just the right audience.
Local SEO efforts can ensure your credit union is prominent in search results when prospective members are researching credit unions in your area.