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.