Is the Mood Shifting?

Typically, June is the month that summer is officially here, kids are out of school, and consumers think of vacations. While many vacations may not be as extravagant as in the past, people are still planning reunions, long weekends camping, time at the beach, and family visits. Will this be the month that the consumer mood shifts into a more positive direction?

By the way, our gift card winner from last month's poll about loan demand was Ruby F. So, take 3-5 minutes to answer this month's poll on Demonstrating the Value of your Brand and you may be a winner, too! It's as easy as clicking here.

Best regards,

Nicki
Nicolette Lemmon, President

PS. Don't forget to visit our Credit Union Sustainability video microsite - CU execs talk about the ability to survive and thrive in this economy. Another resource is our blog at MyMarketingInsights.com (link above) to read more on marketing strategy, trends, faves and other good discussions.

GENERAL MARKETING TIP

Consumer Mood & The State of Lending

As reported on May 25th by the Associated Press, "The Conference Board, based in New York, said Tuesday that its Consumer Confidence Index rose to 63.3, up from a revised 57.7 reading in April. Economists surveyed by Thomson Reuters had expected 59." Further, it was reported that it is the third straight month of increases.

Why is it important to track consumer mood? Because, for marketing, consumer mood is everything! Messaging in marketing communications always has to be sensitive to the mindset of the consumer that is likely to take out a loan or switch a checking account or open a certificate.

Callahan's reported that in the first quarter, delinquencies may have turned the corner, net charge-off rate is down, and operating expenses were being well managed. Credit unions are in a perfect position to capture a swing in consumer mood.

The key is that the competition is also heating up again, pushing the importance to good marketing strategy to the forefront. Here are three things that need to be considered:

• Promotions to highlight special offers for experiencing your credit union's brand. If your front-line delivers on the marketing promise of a good deal for the members, they will tell others.
• Profiling of member segments to tailor marketing messages with consistent branding to reinforce your credit union's position in the minds of members.
• Front-line training and incentives to encourage a highly motivated, upbeat presentation to members who do come into the branch or phone the call center. Your employees will only treat members as well as they feel treated, so start bringing an upbeat message with fun treats for "doing things right", a shift in the mentality of your staff that things are looking up.

What do CEOs think will help credit unions survive and thrive? Check out our newest group of video interviews on our CU Sustainability: 2010 & Beyond microsite.

Looking for the right strategies, tools and solutions to target your members? Visit us online, email us or call toll-free at 1.888.536.6243.

E-MARKETING TIP

Being Careful with Social Media

Last month, Facebook came under fire for several privacy updates that will be made to the site. Among them is the ability for third party partners to start sending promotional emails to Facebook subscribers. The ultimate goal is to integrate other websites and web apps into your existing social network on Facebook. Partners like Yelp (recommendations site), Pandora (music site) and Microsoft have already started targeting users.



The debate - is it an invasion of user privacy or will users appreciate the convenience of accessing their favorite sites and apps in one place?

As Facebook continues its quest to be the social center of the web, it is clear that they will continue to test and push the limits of user privacy. As this happens, it is possible that users will seek new and different forms of media, making Facebook a less effective marketing tool to connect with customers/members.

The debate is on!

Looking for more ways to engage with your customers/members online? Contact LemmonTree's E-Marketing Department for help with online solutions.

PERSONAL MARKETING TIP

Social Media - Use with Caution

If you were one of the many who embraced social media over the past couple of years, have you been monitoring the content that now appears when your name is Googled? Often it is social media results that appear first - LinkedIn, Twittter, Facebook and blog posts or comments. While it is a lot of fun to express yourself through social media, you must be very careful about how you portray yourself online. According to William Arruda, a personal branding strategist, 87% of executive recruiters use search engines to research candidates and 45% eliminate candidates based on findings.

Be careful not to jeopardize your professional future by publishing something damaging online. Before posting comments, videos, personal bios, etc. consider how many people have access to it and how you may be perceived.

For more on personal branding, check out our blog posts for more tips!