Engage Members by Inviting Them to Play

Often, when we hear terms like “membership strategies” or “member branch experience,” we tend to think of sweeping overhauls that require demographic segmentation, custom analysis and months of marketing to employ. However, there are many things you can do to improve overall member experience right now. Sure, it’s worth taking note of long-game strategies and knowing why you do what you do so you can do it better. However, short-game marketing can be just as effective.

Here are some membership strategy ideas you can implement right now. International Credit Union Day will be here soon enough – taking action now to implement a few of these short-term strategies could yield big payoffs by October.

Online Campaigns: Live Streams, Promotions and Surveys

There are so many ways to implement effective online campaigns to drive membership growth. For instance, consider doing a simple live stream on Facebook to show your members what’s happening behind the scenes. This has become increasingly popular over the past year or so with local news outlets. They will often begin a live stream and wait 45 seconds or so for an audience to build. Then, they will launch into the news, making sure to mention a few of the commenters by name. You could do the same with your credit union, focusing on daily/behind-the-scenes activities. As members comment, thank them for posting and invite them to share the post on their page. It’s quick, effective and costs virtually nothing.

Another type of online campaign could revolve around your credit union’s calendar of events and promotions. Are there specific times during the year when you really push engagement? A noticeable calendar of events with a promotion link is very helpful for members. Prepare one with your marketing agency, and ensure low rates are visible to members. To increase engagement, aim for no more than two clicks between the time your member is presented with the event/promotion information and the destination content.

Online surveys are very powerful, too. Consider issuing a quarterly survey with a random prize drawing from a pool of members who complete the survey. Ask members what they want, how they would like to be engaged, which types of products they would like to see and where they think you could do better. You may believe that you are offering everything to your members and doing a fantastic job. If there are blind spots, they will come to light through a survey.

Also, consider surveying members on other topics. You probably have partial or in-house loan applications that have yet to be completed. You may have members with accounts or products served by other financial institutions. Ask them why they chose those products over yours, or why they did not follow through with a loan application. You can also ask current members if they are aware of any reason why other family members may not be using your credit union and the services it offers.

In his book, “The 10X Rule: The Only Difference Between Success and Failure,” real estate multimillionaire and entrepreneur Grant Cardone said this is the secret to increasing sales. Many times we have no problem surveying existing members. Yet, remember, these are people who are already happy with what you have to offer. Finding out why a member did not follow through on a particular product or service yields valuable information.

Exit/no-follow-through surveys make great online campaigns. Just be sure to remind members that their data is safe and will remain private. Credit union members like to know their personal information will not be bought or sold (as is the case with traditional banks). Online surveys are a great way to remind them – and your forms provider should be able to back you up, as well.

Branch Experience Ideas: Freebies, Game Shows and LEGOs

What other ideas can you implement immediately to improve member experience? Consider these, which are like the B-12 shot people in states like Washington take for seasonal affective disorder to help them cope with dreary days. It provides an instant boost, much like these ideas do for member experience. Plus, they’re really fun!

Freebies

Sure, you could enter members into a random drawing for a $25 Amazon or Visa gift card, but that’s as thoughtful as a bad gift at a baby shower. Instead, consider a comprehensive approach. For example, you could partner with a local bakery or grocery store to provide pastries or hot dogs to members for free on certain days of the week. During summer, throw snow cones or popsicles in as well.

Of course, you can still enter members into a drawing for that gift card. The only difference is everybody “wins” something. If you are consistent (i.e. free hot dogs for members from noon to 2 p.m. on Wednesdays) you will likely experience increased member activity during that time. Consider hosting a free lunch seminar at the end of the campaign that addresses financial literacy or other products you have to offer. Finally, be sure to create specific promotion hashtags so members can easily find, and be reminded of, these events.

Game Shows

This is a simple idea that leads to a good time for everyone involved. Pick one day during the month and pretend your credit union branch is the set of a game show. Each member who walks through the door is a contestant. Maybe they get to draw a card or number for a random prize. Maybe they spin a big prize wheel or roll prize dice.

You could also add intrigue by making the prizes hidden. Maybe the 100th person who walks through the door wins a prize, or certain, random ATM transactions print a receipt that’s good for a freebie. You could even stuff gift cards in drive-thru tubes at random for certain drivers. Any of these activities will keep your members curious and generate a buzz.

Create Your Own LEGOLAND

If you have a high number of families with young children in your membership base, consider setting up well-stocked play areas. And to be clear, second-hand, grimy toys won’t cut it. Go the extra mile and provide new, top-notch toys for toddlers and small children to play with.

And make sure the toys are mobile, too. That way, members can bring their child and the toy into a staff member’s office should they need to discuss new accounts or products, or simply have a question they need to ask. Once you are known as the kid-friendly financial institution, word will spread at play groups, churches and other events where parents are present.

Catering to children in an honest, genuine manner is one of the best ways to generate solid word-of-mouth advertising. Could you imagine a child asking their mom or dad if they can go play at the credit union? That’s how you know you’ve nailed member experience for young and single-parent families.

Action Is Key

All of these ideas are great, but nothing works without action … so don’t waste time! Carve out several minutes during your next staff meeting to discuss implementing a few of these ideas. You may even want to brainstorm several of your own. In time, your credit union will be known as the place people prefer. An improved member experience and new field-of-membership rules could create the perfect storm by the time International Credit Union Day arrives in October.

Richard Gallagher is CEO of Oak Tree Business Systems, Inc. He can be reached at 800-537-9598 or clientservices@oaktreebiz.com.