Already Missing Football? Navy Federal Talks NFL Advertising Strategy
February 12, 2016 4:51 PM
One of the oldest sayings in business is "fish where the fish are," and that's how Navy Federal Credit Union sums up the rationale behind its ad campaign on National Football League television broadcasts.
Patty Valenzuela, manager of media marketing for the $73 billion CU, said Navy Fed began advertising on national broadcasts of NFL games in 2012. She told Credit Union Journal that management knew from research a large portion of Navy Federal's membership consists of young members of the military who love sports and entertainment.
"We cater our products and services to fit their needs and realize in order for them to use our products, they have to know about them," she explained. "Advertising with the NFL gives us that opportunity to reach and educate our current and potential members, as well as the general population as a whole."
Above: a scene from one of Navy Fed's NFL commercials, featuring a no-nonsense member of the Navy, describing a "special mission."
When asked how much Navy Federal spends each season on NFL advertising, Valenzuela said it is the CU's policy not to disclose specific budget information. "But as is the case with any credit union, we are looking for the most efficient and cost-effective ways to reach our members. Our demographics include sports fans especially football around the country, so advertising on NFL games simply makes economic sense to us," she said. "Because sports programming such as football is 'appointment viewing,' in other words, it demands a premium, costs have gone up over the years as demand has increased."
Above: a scene from that same commercial, where it is revealed the "special mission" was that no-nonsense member of the Navy was the selection of her wedding gown.
As for exactly what Navy Federal gets in return, Valenzuela said a "precise measurement of ROI has not been our focus."
"It has, however, been our focus to get to know our membership and find the best, most efficient ways to reach them," she offered. "We think credit unions have a great story to tell, and our television commercials are simply part of our efforts to tell that story."
Above: a scene from another Navy Fed NFL commercial featuring a hard-as-nails member of the military talking about his commitment to family.
The biggest lesson learned from its NFL advertising is "to know your audience," Valenzuela offered. She said sports and entertainment are a "large part of American culture," and management at Navy Federal wanted a way to reach a broader audience.
"The NFL provides a diverse cross-section of the population, and we want to be able to reach them."
Above: a scene from that same commercial in which that hard-as-nails member of the military and some of his military buddies "will do anything" for familyincluding eating "tiny food" prepared by his sister, the chef.
Of course, Navy Federal has more resources than most credit unions, so what can smaller CUs learn from its NFL marketing campaign?
"Conduct research to find out what your members are interested in," Valenzuela advised. "What do they do in their free time? Where do they live? How do they get their news? Then find the best avenue to reach them, whether that is TV, radio, social media, or some other method.
"If you know their interests, it is much easier to get their attention," she added.
