MoneyWorks — a marketing program to attract new members via at — home parties-is back in the Filene research lab to be enhanced.
It's a concept where members hold at-home parties about credit union products and services, shared Chief Innovation Officer Denise Gabel, who added that while the program has been offered by Filene for a few years, it is now right for the times. "In this economy, one of the few business sectors that has shown growth is at-home parties, like Pampered Chef."
Currently Filene is conducting research to determine what messages resonate with members. Once those are finalized, a new marketing package will be folded into MoneyWorks, Gabel explained. "We are doing a consumer study now, looking for that right emotional hook. To be able to talk to people about joining a credit union you have to talk about dollars and cents, financial benefits, products and services, and the cooperative structure. But you also have to have the right marketing message."
Filene is testing three different messages and expects preliminary results soon. Gabel said MoneyWorks could re-launch in September.