WILMINGTON, N.C.-This is the year to get creative with Internet marketing strategies and look for ways to tie the CU more closely to the everyday lives of members.
"The Internet allows us to open up so many new channels to connect with members," suggested Bob Giltner, consulting partner at Velocity Solutions here. "So the biggest growth opportunity is to leverage your Internet marketing with distribution channels your members are already using, such as supermarkets and convenience stores."
Giltner said that may lead to unique arrangements that would allow members to begin the process of opening a checking account, for example, right at the store they are shopping in, and use funds immediately to make purchases. "Credit unions promote online account opening, but then members have to wait for their debit card," Giltner explained. "Why not sell a prepaid debit card at the grocery store? The member could load the funds at the store, go spend that money, and then head home and put the rest of the money in their new checking account."
The activity from the new distribution channels should also tie into spending analysis, personal financial management tools, and rebates, Giltner added.
"The credit union could provide coupons tailored to where you're spending your money. It's just a richer use of online channels."
