Ten Marketing Myths that Plague CU Professionals

Myth 1: Marketing is easy.

March 27, 2014
A white paper from the CUNA Marketing & Business Development Council dissects and dispels 10 myths about credit union marketing:
Myth 1: Marketing is easy.
Truth: Marketing has become more challenging than ever.
Myth 2: Marketing is an expense.
Truth: Marketing should be treated as an investment.
Myth 3: Advertising and marketing are the same.
Truth: Advertising is only part of an overall strategic marketing function.
Myth 4: Marketing creates brands.
Truth: Member experience creates brands. Marketing can help amplify them.
Myth 5: Other credit unions are our greatest competition.
Truth: Credit unions can still work together to gain market share.
Myth 6: Marketing on rate is the only way to see success.
Truth: Consumers aren’t logical. The most successful companies use their brands to create real value and connection.
Myth 7: Great marketing has to be expensive.
Truth: Creativity and uniqueness can score big wins no matter the budget.
Myth 8: The CFO is the archenemy of marketing.
Truth: Marketers and CFOs can work together to achieve goals.
Myth 9: Marketing and business development are the same.
Truth: Marketing and business development require different skills.
Myth 10: Marketing is not the pathway to credit union CEO.
Truth: While there are few examples, it can be done.
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