This year’s “frightening” pace of change comes with challenges, but opportunities also exist for credit unions to evolve their brands and use data to connect with their members, says Randy Schultz, vice president of marketing for the Strum Agency.
The answer lies in aligning branding with data analytics, he says. “Credit unions that tap into members’ emotions with their brands will be the future disruptors and the future winners. This is about creating organizational clarity.”
Data analytics is a sophisticated way of listening to members, says Lee Allen, director of data analytics for the Strum Agency.
“Data is critical to understanding who your members are and what they want,” he says. “But it’s not good enough just to have data; it needs to be visual. If your data isn’t visible, it’s just noise.”
“Use data to get where you need to go, and build your brand around your data points,” Schulz adds. “Members are telling us what they want and need. If we’re there to help them, we’ll build lasting relationships.”