Roundtable Roundup – Credit Union Marketing Execs

We recently hosted a virtual roundtable with our long-time partner Doug Anderson of DCA Live with seven credit-union marketing executives to discuss trends they’re seeing and challenges they’re facing. While each leader brought unique perspectives to the conversation, several themes emerged from the conversation.

Segmentation is a critical strategy, but data is still a hurdle.

All of the marketing leaders are pushing for better segmentation and targeting capabilities, but outdated infrastructure often slows progress. Getting data out of siloed systems remains a major challenge. However, several participants are using tools like Segmint, Prisma Campaigns and Finalytics to identify key segments, build propensity models and run targeted look-alike campaigns.

Digital transformation, enabled by AI, is underway.

While at different stages of maturation, all of the executives are working to modernize their tech stacks, implementing platforms like Salesforce Marketing Cloud and Creatio to power more personalized outreach and smarter automation. Vendors are integrating generative AI technology into the tools their marketing teams are using, enabling more sophisticated segmentation strategies. Interestingly, one participant’s institution is using AI to analyze member data in order to reduce call center volume.

Doubling down on social media.

In order to target younger members, most of the participants are expanding their social media presences, particularly on Instagram. One exec doubled her paid social budget this year. A few are piloting influencer programs, while others are empowering their internal teams to contribute organic content through managed workflows. While some have stepped into the TikTok world, specifically using influencer-style ads, most haven’t ventured there yet.

If your budget increased by 20%….

When we asked seven different marketing leaders the hypothetical question what one thing would you invest in if your budget jumped by 20%?, we received seven different answers: run more promotions, launch a member referral program, increase look-alike targeting, upgrade their tech stack, conduct member insights research, expand paid digital campaigns, and test hyper-targeted TV ads.

Our conversation confirmed credit-union marketers are balancing complex challenges while actively driving transformation. As economic pressures rise and competition from fintechs heats up, the marketing team will continue to play a pivotal role in accelerating both member engagement and new member growth.