Cooperative Image Campaign
Cooperative Image Campaign
The LSCU Cooperative Image Campaign is one of the most successful cooperative advertising campaigns ever done by a state league. Since the first wave of ads in 2011, Alabama and Florida credit unions have added 545,000 new members and more than $13 billion in new assets. Alabama and Florida are experiencing record membership and asset growth. The campaign is one piece of the puzzle.
The campaign is run by the League and a task force made up of credit union CEOs and marketing professionals. TV, radio, online, social media, and public relations are the main components of the campaign, which has run for a total of three waves (2011, 2012, and 2014). Each wave has tangible results that show a cooperative message is effective in all credit union chapters.
Since 2011, the Cooperative Image Campaign uses the word banking as a verb to show what people already know – they can do their “banking” at a credit union. The ads show that a member can do everything they need to at a credit union where the rates and fees are traditionally lower. The ads highlight the amount of money a credit union saves a member every year. A landing website houses more information about credit unions, the savings, shared branching, and how to find a credit union. The credit union finder lists those credit unions that have paid into the campaign first as a value of participation.
The campaign is targeting Gen X while raising awareness of credit unions in Alabama and Florida. Research shows that Gen X is the largest population in both states that aren’t members of credit unions. Through three waves of the campaign, it also resonates with Gen Y and Millennials. Research shows that 60 percent of consumers don’t know they can join a credit union. We are changing that through this campaign.
Upcoming 2015 Campaign
The 2015 Cooperative Image Campaign will kick off on Sept. 8 across all 14 media markets in Alabama and Florida. New this year are “shareable content” ads which will be used through social media channels as well as online media buys. Contributing credit unions can use the ads in their social channels, lobby monitors, video ATMs, and any other communications channels they use for members.
The campaign will once again utilize the TV ad that was used in 2014 for traditional media, but the new online ads will provide a different look for credit unions. Below are the three “shareable content” ads. The premise behind the ads is that people are saving money in all of the wrong ways.
The 2014 LSCU Cooperative Image Campaign was the third wave of the campaign. It ran 14 weeks in most areas from May through August. The results were very good as the online media buys reached more than 80 million consumers in Alabama and Florida. The TV ad was viewed more than 450,000 times on YouTube. The ads pushed more than 180,000 consumers to check out www.betternameforbanking.com and search for a credit union.
The research for the campaign was conducted by a third-party (Southeastern Institute of Research). The full results, along with findings from Google analytics for online media buys, and an analysis of Call Report data, were compiled and presented to each chapter via webinar. Both a recording of the webinar presentation and the presentation slides for each chapter are available for viewing.
2014 Media Plans/Billboard Locations
The television ad was customized for each state. These ads have been used in all three waves of the campaign.