I don't want to sound like a broken record, but as an alternative to "Big Banks," we need to Seize the Day!
A year ago, consumers were looking for a safe a secure place to put their money in the midsts of bank failures. Today, the interest in changing banks is snowballing. According to a Credit Union Times article published online yesterday:
"Consumers are being driven in higher numbers to credit union Web sites as a result of the media and government focus on big bank practices, according to NAFCU and CUNA.
NAFCU, for one, said this week its “CULookup” locator has recorded “a tripling of volume” since the first favored mention of CUs appeared on New York pundit Arianna Huffington’s “Move Your Money” Web site."
What are you doing to seize the day?
- Is your institution differentiated from other local banks and credit unions?
- Does your product mix align with market needs?
- Does your marketing speak in benefits and not features?
- Is your staff trained to provide the type of service to drive word-of-mouth and make this movement snow-ball further?
If you want to gain market share off of the big bank runoff you simply need to speak the loudest in the clearest voice. The stars are aligning for us ... I can't think of a more opportune time to focus on marketing.
Take care,
Eric
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