I’ve been saying for some time now that traditional marketing is dead. Direct mail – dismal responses. Newsletters? Yet we are begging members to go to e-statements. Radio? One word-iPod. TV – 500 channels, 24 hours a day. Which 30 second spot to purchase?

When I put these notions on a slide in a presentation – inevitably marketers get nervous, and someone will courageously ask, “If we don’t do those things, what will we do?” Great question.

My answer: think differently. You need new tools. Net Promoter Score is a great start. Think of it as a cheap and ongoing focus group. Not getting the lift from your promotions? Maybe it’s because compliance is running the member experience. But as a marketer, how can you prove that? By asking the ultimate question, “How likely are you to recommend the credit union to a friend, family member or colleague?”

Redesigning your free checking brochure is not going to do it. Aren’t you sick of trying to make your checking sound “freer?”

Advertisements