Archive for July, 2009

DIY Marketing

Friday, July 31st, 2009

Marketers have long been concerned with ‘name recognition’ or ‘brand awareness’. But in the18 years that I’ve worked in the industry what my clients really care about is what that campaign did to sales.
There are four steps, and they all relate to Kipling’s five W’s and an H.

Step 1. PLAN the campaign around the following questions:

What are we selling?
Who is our target? This needs to be as comprehensive as possible. See next months Blog (No, your customer is not anyone with a buck).
Where are these people?
How do we reach them?
When will they likely be ready to purchase?
Why should they buy from us? Limit this to one compelling reason. Anyone can do price/value/selection/service/satisfaction; in fact the American consumer expects nothing less. The key is to pick one, and own it. (Wal-Mart owns price and is an ‘advocate’ for the average American while Target owns selection, particularly of ‘cool’ everyday products).

Step 2. DEVELOP the campaign (Set the budget, buy the media, and develop the campaign):
Rule #1 - DO NOT do the creative first. The creative should only be developed once you have defined the advertising channels to be used. Your primary consideration needs to be: ‘What medium will most cost effectively our target? ‘
Other critical considerations are:
What is the budget needed to support this campaign?

How long does it need to run to reach enough people enough times (reach and frequency)? Experience has shown that half a dozen or so contacts are often required before much of anything happens.

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Credit Unions Look to Enhance Customer Experience

Tuesday, July 21st, 2009

Most credit union marketers have been tasked this year with increasing membership, increasing product sales and tracking their ROI (while increasing the “R” and decreasing the “I”).

Digital Signage

Slavic Federal Credit Union (PSFCU) in New York had those goals in mind when they installed a digital signage network featuring LCD screens displaying entertaining content along with enticement for customers to purchase new products and services.

Digital signage offered PSFCU flexibility of programming, enabling content to be changed as necessary, depending on the time of day or product in need of support. The system was found to decrease perceived waiting times, increase satisfaction levels among members and increase sales. For more information on the digital signage network click here.

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