For the past four quarters, Alabama and Florida credit unions have been adding new members and assets at a record pace. This growth began when the LSCU Cooperative Image Campaign debuted across both states. Following two waves of the advertising message, “Credit Unions: we’re giving banking a better name,” Alabama and Florida credit unions have seen credit union awareness collectively rise from 23 percent in September, 2011, before the first wave of advertising, to 50 percent, following the second wave in August, 2012. During this same timeframe, Alabama and Florida credit unions have collectively gained 195,000 new members and $3.6 billion in assets.
“Our research shows that the image campaign message gets consumers attention, and it’s persuasive,” said League of Southeastern Credit Unions President/CEO Patrick La Pine. “We can see a clear line to where record growth began in Alabama and Florida ─ the third quarter of 2011. The campaign hit the air ahead of Bank Transfer Day and negative consumer sentiments toward bank fees. The second wave this past summer showed a greater growth in awareness.”
A closer look at the credit union awareness numbers by state:
29 percent – Pre-campaign awareness in August, 2011
35 percent – Post-campaign awareness following wave one in September, 2011
59 percent – Post-campaign awareness following wave two in August, 2012
19 percent – Pre-campaign awareness in August, 2011
26 percent – Post-campaign awareness following wave one in September, 2011
41 percent – Post-campaign awareness following wave two in August, 2012
The image campaign message pushes consumers to
www.betternameforbanking.com where the credit union difference is illustrated. More than 69,000 consumers visited the website during the second wave of the campaign this summer; 4,000 more than during wave one in September 2011.
The second wave of the campaign utilized online behavioral targeting ads. The analytics from those ads showed some amazing numbers. The behavioral targeted ads produced 105,000 click-thrus, utilizing YouTube marketing brought more than 96,000 views of the TV ad, and Facebook produced 12,000 click-thrus.
“This campaign is targeted toward Gen X, and we’ve worked hard to be creative in reaching this demographic through many different mediums,” said La Pine. “Through two waves of advertising we have learned how the money raised can be used to its fullest. Our image campaign message is strong, and we need to continue to get it in front of consumers. It’s a perfect complement to our member credit unions’ advertising which has helped raise awareness in both states.”
The LSCU Cooperative Image Campaign fast facts: Wave Two of Campaign
Campaign ran from mid-June to late August, 2012
113 credit unions contributed. This included 34 new contributors
$1.25 million was raised for wave two of the campaign
Media buy included TV, radio, billboard, and online behavioral targeted ads
Wave One of Campaign (debut)
Campaign ran for six weeks beginning in September, 2011
101 credit unions contributed
$1.3 million was raised for wave one of the campaign
Media buy included TV, radio, billboard, and online ads