TEMPE, Ariz. — The Corporate CU Stabilization Plan is breathing life into 2010 marketing budgets, according to one person.
Discussions around next year's promotional plans are taking place at credit unions that are finding more advertising dollars, shared Nicolette Lemmon, president of LemmonTree Marketing Group. "It's going to be different now that corporate bailout is stretched out. That will give credit unions more breathing room for some expense items, which marketing is."
Lemmon is encouraging credit unions to set aside money in 2010 budgets so they can "layer" their marketing strategies-augmenting standard direct mail and mainstream media with e-mail, microsites, and social media.
Using those multiple channels also allows credit unions to do a better job of staying in front of their members, which Lemmon has been recommending that CUs find the money to do this year, at least on a limited basis. "Big brand names are disappearing, and as a consumer you become concerned that if you don't see a favorite brand in your inbox or mailbox, something could be wrong. They might think the credit union is in trouble if they don't see messages from the CU. So we are really concerned now about protecting the awareness of our credit union clients in the minds of their members."
Predicting 2010 will bring a "cautious rebound" to the economy, Lemmon reminded that what CUs do with marketing today "positions the credit union for business next year. You can pitch a great rate, but that's for today. But marketing is conducted so your business can be strong next year. We want to make sure credit unions keep a solid foundation."
