Avoid These 3 Marketing Mistakes During COVID-19
Marketers are walking a tightrope during the ongoing pandemic. Like most things, what’s “right” for your credit union falls somewhere in the middle on a spectrum ranging from “Pretend like everything is normal and keep your pre-planned social media content referencing vacations running strong,” to “Avoid any communication about subjects unrelated to COVID-19 at all costs.”
While what will resonate best with your members is unique to your credit union, the state you live in, and your membership (among other variables), there are a few strategies that are sure to be missteps if implemented:
Mistake #1 - Being tone-deaf. These are serious times, and people are not only suffering from a physical health and/or financial perspective, they’re also struggling mentally and emotionally with what has been a very traumatic experience. Many of life’s biggest moments such as graduations, weddings, new homes, and more are being put on hold or drastically altered, and there’s a general sense of unease around when celebrations like these will resume. Your credit union should be holding space for members during this time, not cracking jokes or running the same summer marketing campaigns without adjustments. How are members supposed to trust that your credit union is willing and ready to help them through financial hardship if it appears it’s not taking the situation seriously? Run all communications through the filter of:
Does this message make light of a serious situation? Could it be viewed as insensitive?
Is this message relatable right now (Example: Talking about having a summer party or sharing travel tips… those things are irrelevant right now and might be for some time to come)?
Are the images I’m sharing going against social distancing guidelines, such as friends meeting at a coffee shop, a family out shopping, etc.?
Mistake #2 - Taking your foot off the accelerator. Just because you have to adjust the the way in which you communicate doesn’t mean you should opt for radio silence. There are many credit union products and services that will help your members during this time, and it’s important you continue to share the features and benefits of them. For example, your credit union might have rolled out an Emergency Loan or Skip-A-Pay offering you need to communicate, or you might want to bring attention to auto loan refinances as a way to lower monthly expenses. You might also consider using this time to do a deep dive on your current marketing efforts, such as A/B testing to see what messages best resonate, assessing when your members use social media, re-evaluating your credit union’s new member onboarding procedures, etc. Whenever our “new normal” begins, you certainly don’t want to be behind the 8-ball with members not used to hearing from you.
Mistake #3 - Confusing a new normal with things returning back to normal. We don’t know what all the changes look like just yet, but it’s safe to say our culture will likely be altered forever. Virtual annual meetings or business development visits may become the norm. You may see a decline in branch traffic as members turn to the remote tools they used during social distancing. COVID-19 is, among other things, a learning opportunity. Keep tabs on the changes that were made (both from a marketing and operations standpoint) and how members responded to them. If the reception was positive, strongly consider working them into your marketing plan going forward after the pandemic ends. Look forwards, not backwards.
Want more strategies on marketing during COVID-19, plus FREE pieces to adapt and share with your membership? Download our done-for-you CU Through It marketing campaign.