Keith Brannan is fond of data analytics, both for the process and the results.
“Our focus is on the deposit-side aspect of credit union business,” says Brannan, chief marketing officer at Kasasa, a CUNA Strategic Services alliance provider. “Our process is super cool, and I love the way we do it.
“If a credit union comes to us and says it wants to grow deposits by $10 million,” Brannan continues, “we look at its data and ask, ‘Where are your customers physically and demographically? Who like them is left in your market area? Who in the market is most likely to be attracted to the credit union?’
“We use NCUA data, FDIC data, and Nielsen’s prism segmentation to answer those questions,” he adds. “We determine the media they consume and the best place to reach them with promotional messaging. In some cases, potential members we identify are three-and-a-half times more likely to join a credit union compared with other groups.”
Kasasa’s process involves taking all of a credit union’s data, merging it, and finding approachable potential members.
“We do all of those steps for free, and then we build a marketing plan under contract,” Brannan says.
Kasasa parses select employee groups (SEG) by location: rural, satellite cities, and metro areas. Inhabitants of these various locations often have different media consumption habits.
“If you’re a small credit union, you don’t have the resources to do this on your own,” Brannan says. “You can buy independent capability, but it’s very expensive.
"You can focus solely on a vertical approach to one SEG. You can conduct media buys or ask us to buy on your behalf. We band small credit unions together for volume discounts on media buys.”