How can you Increase Brand Awareness?
Many credit unions advertise through multiple mediums to try to measure “brand impression rates”. The goal is that with increased brand recognition and traffic your sales will grow in markets with increased impression rates. The key to increasing brand recognition is by the frequency of messaging. The more often the consumer hears/sees the message, the better the chances of them recognizing the brand.
Research has shown that an institution’s name must be mentioned three times in conversation to be recognized. Many memorable speeches are so successful because they reinforced a message several times. The Aristotelian saying; “Tell them what you are going to tell them, tell them, then tell them what you told them”, reminds us that you have to reinforce you message at least three times for an audience to remember it.
Making an Impression in a Competitive Market
In any given day, consumers are bombarded by thousands of marketing messages on TV, radio, social media, etc. Savvy institutions use specific branding standards to help increase recognition of messaging across several platforms. Brand standards are used to visually distinguish a company from their competition. These standards can include exact brand colors, tag-lines, fonts, and so on. By repeating their consistent message on multiple platforms, the hope is that there will be a multiplied effect and an overall increased impression rate.
Unfortunately, each platform has a cost… and these costs add up.
What if, you had a business partner that created brand awareness and only charged for success?
Stellar Auto Loan is such a partner.
An Ideal Method to Boost Awareness
Through our Auto Loan Refinance program, we pay for all of the up-front costs to advertise to new potential members that reside in your charter footprint. Best part, you’ll only pay for the loans you refinance!
You pay nothing out of pocket until the new member responds. You’ll start out with a pre-qualified list of potential members from your pre-defined zip-codes utilizing your pre-defined credit criteria. Multiple marketing strategies ensure great response rates. We use direct mail, telemarketing, online application sites, reminder mail, and digital marketing. Again, you’ll pay nothing out of pocket, until a new member responds. Even if they choose not to complete an application, your institution has been brought to the forefront of their attention and has made a lasting impression. Applications that are completed are submitted to your lending team to approve or deny the loan.
If you need more assets in your books and would like to increase brand recognition, give me a call and we can have a free high-level discussion
Office Number: 402-991-7489