How Can Modern Direct Mail Maximize Credit Unions Marketing Efforts

Ways in Which Modern Direct Mail Can Maximize Credit Union Marketing Efforts?

How can modern direct mail maximize credit union marketing efforts? To answer this question, we have mentioned some easily doable practices that a credit union ad agency can adopt to engage more and more people and drive conversions.

Incorporate Direct Mail With Digital Marketing

One of the best credit union ideas for direct mail marketing is to combine it with digital marketing. Digital marketing may seem cheap, but you will need to make some investment to get the desired number of responses.

On the other hand, a thoughtless, stand-alone direct mail campaign may not give any results. Credit unions, these days, are not doing great with Millenials. It is because young people are looking for technology everywhere. When credit unions decide to go digital while still using direct mail to give it an emotional touch, it is bound to win over millennials.

Initiate omnichannel marketing campaigns, wherein your direct mail takes your customers to a landing page where they can know more about your brand. It is likely that people complete the desired CTA when you show them the same offers online as well as offline. Moreover, it also widens your brand visibility. Digital efforts with direct mail marketing can really boost up responses and engage more people.

Make Your Direct Mail Stand Out

Your competitors have already thought about all the credit union marketing trends. Although there is a lack of competition in direct mail marketing, there is still a need to make your direct mail highly attractive and attention-grabbing. Cut through the crowd and present something to your audience that they haven’t seen before. Obviously, they must have received thousands of brochures before receiving yours. But, make your mail item so creative and unique that it leaves an everlasting impression.

• Credit unions can grow their memberships by expanding their reach with a lot of expertise and creativity.
• PostGrid‘s direct mail platform enables you to get as creative as you want, in terms of everything from the type of the collateral, its size, shape, and content to its design and graphics.
• Make your offer interesting and let it be the most eye-catching content in your entire mail piece.
• Using high-quality paper and bright colors along with professional templates can really get your message across.
• Include relevant images, tables, and graphs to better communicate your message and draw people’s attention.

Target and Personalize

Identifying your target market is important. Direct mail marketing for banks and credit unions should be highly targeted and personalized. Segment your mailing lists according to various demographics like age, gender, annual income, lifestyle, preferences, location, and more.

Knowing which segment to target in advance can push up your direct mail campaign’s success rate right from the beginning. It is pointless to send a direct mail piece with offers for education loans to the working class – which is why EDDM might not work for credit unions marketing. Similarly, not everyone wants to buy a vehicle or mortgage their house.

The first step in planning direct mail for credit unions is to know your market and then target audiences accordingly. PostGrid’s direct mail program can help you build and use targeted mailing lists easily and accurately.

Another way is to find prospects that are actively looking for loans that come under your niche. A number of online tools can help you make a list of such leads whom you can target. This step also boosts your chances of getting high engagements. After acquiring or building segmented mailing lists, it is time for you to focus on personalization. Use personalization as a marketing catalyst and only include what is relevant for a particular group of people.

For example, you have a targeted list of people who are looking for a car loan. Design your direct mail accordingly. For instance, you can shape your mailpiece like a car and include your car loan interest rates in bold letters.

Add everything that your customer needs to know at the first instant and direct them towards your website or nearest branch for more information. This is how targeting and personalization work – reaching out to the right people with the right offer at the right time.

A hyper-personalized mail has the potential to drive responses and inquiries. Communicate the benefits of banking with you and tell customers about the different things you can provide them. Do you offer mobile banking? If yes, let your audience know.

Always Keep In Touch

Credit union marketing firms know the importance of staying connected with your audience at all times. Of course, you should conduct direct mail for credit unions on occasions like branch opening and new offer launches. Having said that, it is also important to stay in touch with your customers when nothing significant is taking place.

For example, keep sending promotional materials from time to time about credit card discounts, privacy notices, revised interest rates, newsletters, policy changes, regulation updates, and other such things. This way, your current members shall remain informed. You can also send these things to your prospects and target audience to keep them engaged in some way and induce memberships.

PostGrid can help you design, print, and mail brochures, postcards, envelopes, and self-mailers with its direct mail automation API and platform. Send event-triggered direct mail based on a user’s website activity. This step will also help you keep in touch with people who visit your website or are engaged on your social media handles.

Even after precise targeting, some people might not respond at the moment due to various reasons. But following up and staying connected can convert such prospects into customers at some point. Credit unions can continuously get memberships using such methods. You should check out some credit union marketing plan examples for knowing how constant communication can be the key to getting a huge number of responses.

Track Everything and Use the Analytics

Your credit union direct mail marketing campaigns may be conducted once a year or every second month. But, how are you going to measure the results? How are you going to know if the business you are attracting is due to a specific campaign? The answer to this question is tracking results.

Tracking helps you know how your campaign is performing and what you can do to improve it. Credit union marketing firms should try combinations of different offers, colors, collaterals, CTA, and credit union marketing plan templates to see what works best for their credit union.

Your CTA could be a mobile app download, requesting a callback, following your social media handles, visiting and signing up on your website, or visiting the nearest branch. See what your audience is responding to. You can track these responses by using QR codes – which after getting scanned, takes them to your website or social media pages to complete the CTA. Alternatively, you can also include pURLs or promotional codes to track and measure your campaign’s success.

• Make your landing pages compatible with all kinds of devices.
• Create a unique toll-free number to track and record calls.
• Train your employees who are supposed to receive these calls. They should be fully aware of the mailer and its offer and should be able to guide the prospect further.
• Integrate address autocomplete and verification to reduce the number of keystrokes on your landing pages and record the correct addresses. This step encourages the prospects to fill in their details and request a callback. PostGrid offers real-time address verification and auto-complete features to fulfill this requirement.

It is difficult to ascertain your credit union’s best marketing strategy unless you have tested and measured it. You can combine direct mail marketing for banks with digital tactics like call tracking and website analytics to accurately track engagements and draw out results. Keep calculating your ROI after every campaign to draft proper campaign analytics that you can use for your further credit union direct mail marketing campaigns.

Add Inducing Offers

Email marketing for credit unions is diminishing with the increase in spam emails and reduction in click-through rates. Even though these emails have very exciting offers for your customers, they might never be able to see them at all. Popular programs like Outlook and Gmail also separate emails into different categories like promotions, updates, and even spam.

It takes 2 seconds for your prospect to delete an email or move it to spam. Bank direct mail marketing can help you with this problem. It can communicate your offers to your target audience much more effectively. An eye-catching direct mail is sure to be picked up and opened by your customer.

Make sure to include prompting offers in your mailpiece – so that customers are excited about completing the CTA and availing of that offer. Credit cards with offers like a small cashback or discount on plane tickets can attract a huge number of responses. Give your customers their time’s worth by adding such exciting offers against a clear CTA.

Another technique that you can use with your offers to drive conversions is timing your offer. While designing loan and mortgage direct mail letters, you should align the offer with the current market demand.

For example, the perfect time to advertise student loans is spring, as a lot of students start applying during this time. You can also make your offers time-sensitive, like “Sign up within two days to get a low-interest rate of 6%.” The creation of urgency can help you get more conversions. A super-quick application process can also act as an offer for your customers.