3 statistics that will change your marketing mix

Original posted on www.cuinsight.com  written by Liz Garster



At the very moment I write this, only 134 days remain until we’re all welcoming in 2018 with a chorus of “Auld Lang Syne” and clinking champagne glasses.

…That’s right – we have about 19 Saturdays left until we’re in January.

I say this not to ruin your last few weeks of summer, or to gloss over the gloriousness that is pumpkin-flavored-everything-season; consider this your friendly reminder that we’ve reached the exciting point in the credit union life cycle where we review how our marketing efforts resonated in 2017 and evaluate what changes we’ll make for next year. As you begin this process and research what fun initiatives may bring your credit union success in 2018, here are three statistics to get you thinking critically about your marketing mix.

Statistic #1:  By 2019, video will account for 80% of online traffic.That number jumps even higher for the United States at 85%, and isn’t surprising in a world where we are (unfortunately) increasingly glued to the screens in front of us. Video is a powerful medium for your credit union to explore if it isn’t already doing so; it’s engaging, shareable, educational, and persuasive… all great things if your goals for 2018 include building loyalty within your existing membership or increasing brand awareness for potential members. Video marketing doesn’t have to be cost prohibitive, either. An easy way to get started is to utilize platforms like Facebook Live where your audience doesn’t expect a professional-grade video, or watch tutorials to build your knowledge on free tools like Adobe Spark.

Statistic #2: 70% of people would rather learn about a company through articles over a traditional advertisement.  Consumers are increasingly distrustful of brands, meaning that an investment in developing helpful, informative content goes a long way in positioning your institution as a credible resource in a sea of sales pitches. Consider exploring content marketing further next year as a way to better connect with your audience.

 Statistic #3: 98% of people check their mail every day. It seems like every day there is a new article about Millennials killing something, but direct mail isn’t one of them. While digital communication is certainly on the rise, traditional advertising continues to be effective across generations. If you’re hoping to increase the effectiveness of your direct mail strategy, try incorporating personalization techniques into the mix for 2018.

Most importantly, don’t leave out the most critical part of this process – drawing on your own expertise!  Measuring the success of your marketing gives you the advantage of knowing what motivates your unique membership and/or community. Gut-check any new channels or strategies against that perspective and you’re positioned for a successful 2018…134 days and counting.

Comments

Post a Comment

Popular posts from this blog

3 Powerful Tricks to Learn New Skills Faster

Image
“Change is the law of life. And those who look only to the past or present are certain to miss the future.” – John F. Kennedy Though few people like it, change never stops. Success in life requires the ability to adapt. As one Chinese proverb quips, “the wise adapt themselves to circumstances, as water molds itself to the pitcher.” Whether you enjoy change or not, the pace of change marches ahead at an ever-increasing pace. Here is a statistical snapshot of what that looks like: 94% of the internet workload will be processed on the cloud by the end of 2021 It is estimated that 70% of all automobiles will be connected to the internet through the Internet of Things by 2023 By 2030, the fully and semi-automatic car market will be worth $26 billion Artificial Intelligence is slated to replace around 85 million US jobs by 2025 The world has produced 90% of its Big Data (or extensive data sets) in the past two years Does that feel overwhelm...
Read more

6 Winning Direct Mail Campaigns

Image
Direct mail offers results that other channels just can't match. According to a recent study, direct mail has a response rate as high as 9% . However, there are always ways to engage your audience better and improve your mailers' effectiveness. These methods below catch your recipents' attention and increase the chances that they'll read and respond to your direct mail piece.  6 Winning Direct Mail Campaigns 1. Instill Curiosity with a Quiz Do you worry your direct mail envelopes are going in the trash unread? Take a page from Harvard Medical School's playbook. In a recent mailing to woo subscribers for their Harvard Heart Letter newsletter, they put a heart health quiz on the front. The answers to the three-question quiz were inside the mailer, giving recipients a reason to open. 2. Benefits, Not Features As marketers, it's so easy to get caught up in promoting all the neat features of your product. Your readers, however, don't care about th...
Read more

The Ideal Length for Tweets, Facebook Posts, and More

Image
You've taken the time to collect your thoughts. You've carefully outlined your ideas, your theme, and the overall tone you'd like to communicate. Wouldn't it be nice if people actually read it? Better make it quick! Generation Z, born after 1996, is already emerging from the shadow of millennials. Making up a quarter of the U.S. population, they will account for 40 percent of all consumers by 2020. Gen Z processes content faster than other generation, especially considering most can sort through piles of information using four screens simultaneously. Although their options seem limitless, their time is finite. Gen Z consumers have an average browsing attention span of eight seconds (as compared to twelve seconds for millennials). Make Every Word Count As lead time decreases, efficiency must increase. How do you evaluate the "right" speed for sharing? Research has answers! Here are some research-based guidelines on the ideal length...
Read more