Credit unions constantly run promotions on their websites, but they usually do it wrong. Marketers need to tell members about deals, sell them loans, and encourage them to open accounts. However, most credit unions treat promotions like a game of Yahtzee: just roll out a promotion and hope you get a full house. Instead of rolling the dice, a better way to promote is to use strategy and data.
All too often, promoting is done without any strategy or data. At BloomCU, we call thoughtless, data-less promotions “blind promotions” because they are just shots in the dark. Unfortunately, most credit union website designs are dominated by blind promotions. Blind promotions usually come in the form of untargeted ads posted on a homepage. Perhaps you’ve seen a slider that proclaims “Low Rates on Auto Loans!” There’s nothing wrong with promoting low auto loan rates. The problem is promoting auto loan rates to every single person who visits your website when most visitors aren’t interesting in buying a car right now—and aren’t going to buy car right now, no matter how good your rates are.
In all but a few cases, blind promotions are just not a good idea. Instead, there’s a more strategic approach to promoting products on your website…
Interested in learning more? Read the complete article over at CUInsight.
Want more insights?
Get our crazy ideas and doable tips in your inbox.