In Any City, USA there is likely a small business just like the one I am about to talk about. This is a real company, to be nice, let’s change the name and some details.

Need Marketing Credit Union (NMCU)

NMCU started nearly over 50 years ago and served the employees from a local industrial company. They pride themselves on personal relationships and providing low cost services to their members. However, with some of the major industries leaving their city, they found themselves with 6,000 members and the necessity to attract new members. They had relied upon the same marketing plan of marketing to their members for many years and had little recognition outside there 6,000 members. They were also facing the reality that technology was hindering their ability to have the personal relationships with their clients.

A marketing plan had to be developed which would take advantage of their strengths, while not directly competing with the stronger banks and credit unions. Further the plan had to utilize the resources they had and expenses were a major consideration. So a “Social” plan, developed around strengthening relationships was created.

First, the website had to be completely rebuilt using a technology that would give control over content changes to the company. This instantly saves money over paying a vendor to make updates and allows quick creation of relevant content. Instant Chat would be integrated so members could ‘Chat’ online with their ‘Friends’ at the back. They spoke directly with the people they see at the desk everyday. Again, this did not increase cost and simply provided another form of service.

A Customer Relationship Management (CRM) system that helped strengthen member relationships also allowed for specific one-to-one marketing would be implemented. This system would be used to keep track of things as simple as birthdays, anniversaries or handle multi-faceted marketing based on predefined criteria. Ultimately, this form of marketing is much less expensive and more effective as it directly speaks to the wants of the customers and turns the 6,000 current members into ‘advocates’ on behalf of NMCU.

Online marketing would include Pay Per Click and Search Engine Optimization. Since the company did not have dedicated, outside salespeople the website would be used to source potential retail and wholesale accounts. Wholesale accounts effectively acted like no-cost resellers and would provide a new source of customers.

Each of the systems was planned to work with one another. Indirect Lenders (local auto dealers) are sourced from the web. A person who obtained lending from a local dealership would be entered into the CRM system with specific, low cost, personal marketing over the next year already pre-defined (Introductory phone calls, invite them as friends on Facebook, personal e-mail asking them to chat online, personalized offers sent in their statements. etc). Additionally, other local businesses made special offers available to the members so NMCU was truly offering benefit beyond banking at no cost.

Through this marketing plan NMCU will achieve sustainable growth by reaching within the existing member base and extending beyond their touch and have others attracting members for them. The cost to implement this plan are considerably less than hiring a sale-person and should achieve greater results. Existing customer service reps will become pseudo sales reps by responding to client inquiries.