The Open Your Eyes to a Credit Union® campaign will launch in three more states in July, adding North Dakota, South Dakota, and Indiana to Minnesota, North Carolina, South Carolina, and Michigan as states running CUNA’s cutting-edge consumer consideration campaign.
CUNA Chief Credit Union Awareness Officer Chris Lorence, Xceed Financial Credit Union CEO Teresa Freeborn, and researcher Graeme Trayner spoke about the initiative during the America’s Credit Union Conference Wednesday at the Walt Disney® Resort in Florida.
“There is so much noise in the financial services marketing space and this initiative spoke clearly as to why consumers should consider a credit union as their primary financial institution,” Lorence says. “The commitment CUNA, leagues, and credit unions have made to this initiative is powerfully motivating.”
Currently the campaign includes more than 525 organizations that have pledged more than $37 million. Live in four states (Minnesota, North Carolina, South Carolina, and Michigan), the campaign has gained nearly 76 million impressions, reached more than 5.1 million consumers through digital advertising, 4 million through social media, and 1.3 million on YouTube.
Campaign videos have been watched from start-to-finish 8 million times, which means “our target audience of consumers have paused their social media browsing 8 million times to full watch an Open Your Eyes to a Credit Union video,” Lorence notes.
In addition, 75.3% of visits to the campaign’s website YourMoneyFurther.com have been on a mobile device and more than 60% of traffic has come from Facebook. More than half of the site’s visitors are female, and the majority of visitors are between the ages of 25 and 44.
“What this data is telling us is that we’re reaching our intended audience. The people we are most hoping to get in front of, young adults between 25 and 34 years old and those between the ages of 35 and 54 who are in the market for financial services, are the people that are seeing our messaging and connecting with our content,” Lorence says. “A great amount of progress has been made and I’m looking forward to taking the next step.”
Lorence says his vision is to make a nationwide impact by the end of 2020.
“We need to fill in the entire map, and we need to do it together. Our collective power and our stellar reputation in the marketplace are some of our greatest assets,” Lorence says. “This campaign is the perfect way to amplify and elevate the amazing work credit unions are known for.”
Freeborn urges credit unions to unite on this effort, noting banks outspend credit unions are marketing by $43 to $1.
“This isn’t something one credit union can do—it must be a collaborative effort,” she says. “We can’t change consumers’ mindset unless we unite.
“We need to stop asking, ‘should we do this?’ and start asking, ‘what happens if we don’t do this?’”