Human beings make emotional decisions
and support them with logic and rationale.
It's a bit of a fault, but it's partially what makes us who we are. It's one of the many beauties of humanity.
Think about some of your most recent purchases...
"I need that Fred Flintstone sized driver to hit the inch and half wide ball."
"The Louis Vuittons will be 100 times more comfortable and last 100 times longer."
Really?!?!
So, if we are emotional creatures, why does so much bank marketing revolve around "Free Checking!" and a big ol' rate?
The truth is that we do not sell checking accounts ... or loans ... or CDs. People can get THOSE things anywhere! Let the Wells Fargos and Bank of Americas of the world take the obvious route - they can afford to be lazy.
You, my credit union and community banker friend, are different ... better ... smarter. You understand that every single day - with every single branch and electronic interaction - we are dealing with people's money. And aside from child care, what is more emotional than that?!?!
No, we do not sell products, we sell TRUST!
Take a look in your lobby right now. Those people aren't there for your free checking, and they likely past a competitor or two to get to your branch. They are there because they trust you. In their mind, you are the expert.
When you sit down to plan your next campaign or draw-up your next brochure, start your planning where your target audience starts it's decision making ... with emotion. THEN, you can support it with logic and rationale.
We bring these marketing philosophies to credit unions and community banks nationwide, and would love to bring them to your institution too. Contact us to see how.
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