What is Your Plan?
I hear things like “let’s advertise our home loans” or “we need more auto loans.”
My response is generally, “What home loans do you want to do?” And more importantly, “What do you offer your members that is compelling?” My third question, “Why would anyone want a mortgage loan from you?”
The first step to successful marketing is to create a well thought out plan!
What is Your Planning Process?
- Strategic Planning – During your annual planning process, think about your strategies from not only a financial point of view, but from a marketing point of view.
- Marketing Plan – Develop a Marketing Planning from your Strategic Plan.
- What products do you want to sell.
- How will you sell those products.
- To whom will you sell those products.
How Can We Help?
For a credit union CEO, especially in a small to midsized credit union, finding the time to do planning and marketing is difficult. You can’t afford to hire someone full time but you’re in luck. We’ve done all this before and we can do it efficiently and within your budget. Our services include:
- Strategic Planning – We will facilitate your Strategic Planing process and we’ll follow up with a written plan to review and share with your board of directors.
- Marketing Plan – After your board approves your Strategic Plan, we will work with your management team to create a marketing plan.
- Generate Ideas – We will help you identify your “compelling message.”
- Good ideas practically sell themselves. (I’ve seen some really great ideas sold with poor advertising. I’ve also seen some mediocre ideas with “amazingly clever” advertising tank.)
Don’t waste your marketing dollars on “amazingly clever” until you have some “amazingly compelling” ideas.