By Frank J. Diekmann
In case you missed it, a story from a skateboarding legend, how quickly sand passes through life’s hourglass, and a great resource that many credit unions are missing out on (and it’s free!)
The Birdman Squawks
Skateboard legend (and industry unto himself) Tony Hawk recently kicked off the CUNA Marketing and Business Development Council’s 25th Annual Meeting in San Francisco, where he keynoted.
Hawk shared a story of being invited to the White House years ago and, as he was carrying a skateboard with him, decided to do a little skateboarding inside the People’s House. When word got out it led to criticism that he was being disrespectful.
“Disrespecting the White House: is that a concern?” Hawk was asked by emcee Patrick Adams.
“It was then,” laughed Hawk.
You can read more of Mr. Hawk’s story here.
If You Want to Feel Old, Part I
During the CUNA Marketing and BD Council event, Tony Hawk shared that his own son is now on the professional skateboarding tour. His son is 25.
And While We’re At It, Part II
Speaking of 25, the meeting also marked the 25th anniversary of the CUNA Marketing and BD Council. When emcee Patrick Adams asked for a show of hands of any attendee who had not yet been born when the Council was created, several were raised. And when he asked how many in attendance had been in elementary school when the Marketing Council held its first annual meeting, more than half the hands shot up.
And I can tell you from experience that in the case of the Marketing Council, if there were a way to peer into the future and then ask those same attendees “How many can see you won’t be here or working in credit union marketing in five or 10 years?” more than half the hands would have also taken to the air, as well.
Will Marketers Open Their Eyes?
Credit union senior managers, especially marketers, need to open their eyes. And keep them open.
During the Marketing and Business Development Council’s recent meeting, the committee that has been leading the CUNA National Brand Awareness initiative for the past two years followed up on its GAC presentation with another on the new “Open Your Eyes to Credit Unions” theme that is the official brand message.
Marketing at most credit unions remains a limited budget affair, and there is certainly no extra cash to be had for focus groups or research or brand testing. In many cases at CUs, marketing is the same seasonal promotions all wrapped up in generic clichés about “quality products and services.”
But regardless of asset size or budget, why would any CU not dig into the treasure chest of research and findings the National Brand Awareness committee has assembled and made available. Any CU, but especially if you’re small, should be poring over the Messaging Guide that you can find at www.awareness.credit union (using the password openyoureyes). And that begins with the CEO.
The Messaging Guide is a 60-page-long “playbook,” as one committee member described it, that’s FREE for the asking. So, ask! Setting aside the theme for a moment, there is a lot of direction to be had here that should lead everyone to rethink they’re messaging.
“’It’s not prescriptive,” said Douglas Kiker, chief communications officer with CUNA. “It’s ‘do this, and here’s why,’ and if you want to convey messages, here’s a more effective way to do so.”
For example, many CUs are fond of—and for good reason—touting their mission and good deeds. But…
“Is it to the detriment of credit unions that we have talked for a long time about all the good things we do? Philosophically, no,” observed one committee member. “But with middle and upper income people? Yes. I want us to be viewed as the choice for the financially savvy. That’s our future. If it isn’t we don’ t have a future.”
Graeme Traynor, managing director of the research firm Insight GPG, observed that “too much credit union marketing is very literal. You show a house or a diamond ring. But if not in the market for a house or diamond ring, it doesn’t appeal. We want to project aspirations and dreams and let consumers fill in the gaps. It’s less literal, more figurative.”
Another lesson from the research: the word “member” confuses many consumers who mistakenly believe they can’t join a credit union, no matter how wide open their eyes might be to the benefits.
For more on the story, go here and then download the Messaging Guide and read it.
Frank J. Diekmann is Cooperator in Chief at CUToday.info and can be reached at Frank@CUToday.info or @FrankCUToday.