DALLAS — Following the launch of a digital campaign launched in 2017, the Cornerstone Credit Union League said it is now expanding the effort to include more digital channels as part of a long-term initiative to affect consumer awareness.
Cornerstone, which represents credit unions in Texas, Oklahoma and Arkansas, said its second-year digital campaign will aim to engage consumers whose media consumption habits are increasingly leaning toward digital media channels for news, content, entertainment and online help. The goal is to reach these consumers with messaging that touts why credit unions are the smart and savvy choice when it comes to financial benefits and freedom, the league said.
“We’ve learned that consumers are more likely to join a credit union after becoming informed about the financial benefits of having a relationship with a credit union and highly personalized service they offer to members,” said Jon K. Gorman, Cornerstone SVP-communications and outreach. “Our goal with the digital campaign is to reach and educate consumers where they are online about the power of credit unions with an approach that feels native to their Internet experience.
What’s Being Used
According to Cornerstone, its enhanced digital strategy will use targeted video and banner ad placement, streaming audio, behavioral targeting and social media optimization to reach audiences, especially Hispanics and Millennials aged 18 to 34 years old who trend high in technology use.
Noting the increase in the consumption of video, consumers will see video pre-roll placements with credit union messaging prior to viewing online videos on top streaming platforms including Roku, Apple TV, Chromecast and Sling. Consumers will also see and hear banner ad placements delivered via mobile devices and desktop computers as well on streaming audio platforms such as Pandora, Spotify, Slacker Radio and NPR, the league said.
“A key component of the expanded digital strategy will be the use of behavioral targeting,” the league said in a statement. “With this tactic, Cornerstone will be able to engage with consumers whose online behaviors match the objectives of the campaign. For example, those searching for content about banking, mortgages, refinancing and auto loans will be served with ads about credit union solutions within one minute of a content search taking place. Unlike traditional targeting tactics, this approach is not tied to predetermined websites. Rounding out the digital approach will be social media optimization to engage with consumers on a multitude of social media platforms with the credit union message.
What the Research Shows
Cornerstone said its digital strategy is fueled by its in-depth research findings on consumer behaviors in relation to how they felt and thought about credit unions in general. Similar to what CUNA has found in its research, the league found that when it comes to selecting a financial institution they can trust, consumers who are educated about the strengths and benefits of credit unions, and the differences between them and other financial institutions, are more likely to choose a credit union.
Cornerstone reported its first year digital campaign “saw an impressive two-to-one return on investment on the campaign’s value and an above industry standard click-through rate of .25% on its digital assets. The industry standard is .05%.”
The campaign generated nearly 65 million total impressions across all of its digital vehicles, with September 2017 seeing the highest audience engagement numbers of 1.48% with a home mortgage message.