ROI. Every C-suite executive demands it. Yet few marketers deliver it consistently. While ROI stands for “return on investment” in some circles, it could also mean “results are only invisible.” As in, sometimes our credit union marketing succeeds and sometimes it fails and who knows why.
As John Wanamaker famously said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
Don’t let this happen to you. One of the best ways to identify what is working is having a good understanding of what is not working. There are several common traps your marketing efforts might be experiencing. The good news is you can quickly correct these errors.
So, why is your marketing not accomplishing your goals or reaching a positive return on investment? Here are four possible reasons (along with some quick resolutions):
1. Your copy is too long.
We tell almost every one of our marketing assessment clients to “cut the copy.” Rather than reading, most consumers today are skimming. You must make your copy “skimmable.” Quick fixes include reducing how much you write, using bullets/numbers and writing like you’re talking to someone.
2. You are not using video.
People are no longer reading; they are watching. Do a fast review of your website and calculate what percentage of it has video. Quick fixes include short (30 seconds or less) video testimonials, a video message from the CEO and using Bomb Bomb for e-mail marketing.
3. Your focus is wrong.
This refers to making your marketing about you and not the consumer. Your marketing must remember the acronym WIIFM (what’s in it for me). Or as Donald Miller advises: you are the guide and the consumer is the hero. Quick fixes include emphasizing benefits over features, telling stories about how you made a difference in someone’s life and showing your community involvement.
4. You don’t use a call to action.
This is a classic mistake but one that happens to even veteran marketers. What do you want consumers to do (call, chat, text, apply, etc.)? Quick fixes include putting a call to action on every marketing piece, make online calls to action “clickable” and give more than one way to take action.
Conduct a Credit Union Marketing Assessment
If your marketing results are inconsistent and you don’t do anything, it’s only going to get worse. As mentioned above, one way to avoid marketing failure is to conduct a credit union marketing assessment. A thorough review by an independent third party will offer immediate feedback on your specific efforts along with ways to improve your ROI.
Book a free consultation now and get started on your marketing assessment.
