While a number of small credit unions are successfully reinventing themselves to adapt to today’s economic times, for many others, the challenge is becoming serious and a merger might seem to be the only means for survival.

A credit union typically undergoes a merger to improve its standing and, more importantly, its members’ standings, experts have said. Without improved member value, there is little that is sustainable or beneficial about a merger, but there’s more to it than changing the signage.

Finding the best partners, negotiating terms, completing the required regulatory paperwork, due diligence, vendor notification and member disclosures are all part of the process.  Most importantly, a merger without a strong communication plan involving employees and members could be a deal breaker, experts warn.

“There are a lot of reasons that credit unions are merging these days and it’s not only so they can survive,” said David Bennett, director of public relations for the Northwest Credit Union Association, which has offices in Beaverton, Ore., and Federal Way, Wash. “CEO’s are retiring left and right and the cost of a good CEO is quite expensive. The economy is certainly behind the decision to merge for many, but there are a lot of different reasons behind the amount of mergers these days.”

According to Bennett, there were 65 mergers in the state of Washington between 2010 and 2011.

“When people hear the word ‘merger,’ they think of layoffs,” said Shari Campbell, vice president of JayRay, a Tacoma, Wash.-based company that specializes in branding, advertising and strategic communications.

“They don’t want to see jobs lost, especially in small towns with a tight-knit culture when they think a merger means that the same woman who has greeted them for years might lose her job,” Campbell said. “Communication is a big part of a merger and credit unions need to do a better job of explaining and reassuring the public that things will change for the better.”

JayRay has been involved in three credit union mergers this year, according to Campbell. In 2012, the firm led the $420 million Montana 1st Credit Union in Missoula, Mont., through a campaign that resulted in a successful second vote by members to merge with the $2 million Horizon Credit Union in Spokane, Wash., Campbell said.

“The merger was about bringing additional value to the membership and opportunities to grow Montana 1st to better serve our entire field of membership. And, a strategic partnership with Horizon Credit Union does just that,” said Chris Sisco, CEO of the $64 million Montana 1st who will retire next year but will continue as regional vice president of corporate integration. “The board and senior management spent a considerable amount of time looking at the opportunities for more member access and more services being provided by the same friendly faces with the name the members knew and trust, Montana 1st.”

When the news about a possible merger began circulating, Montana 1st members were reluctant. After a small voter turnout last December that resulted in a ‘no’ vote, the credit union planned to give members a second chance. JayRay said it was brought in to guide communications efforts and turn the second vote around.

A campaign with the theme “Better for you, better for Montana,” featured members, employees and community ambassadors explaining why they supported the merger and planned to vote yes. The message was delivered via outdoor, print, direct mail, Web and in Montana 1st branches.

With the merger making weekly headlines in the local paper, a strategic media relations plan was also important to even out the handful of negative voices that were making a big presence, according to Campbell. JayRay led the credit union through a strategy that resulted in more balanced coverage including positive editorials and letters to the editor, she added. The result was a 56% vote in favor of merging.

Montana 1st will retain its name and employees. At press time, the merger was expected to be finalized by the end of September.

People issues aside, a merger is an expensive plan. Larry Hays, president/CEO of the Lenexa, Kan.-based Beyond Marketing LLC, said that creating a budget and understanding that mergers are costly are very important and without a firm grasp on the realities of the high price of merging two credit unions, problems can quickly arise.

“You have to remember that you’re doing everything twice,” Hayes said. “You have two sets of employees, statement vendors, displays, signage and ad campaigns and different fee schedules that you will need to merge into one. You have the cost of creating a new website and merging two banking systems in to one. Credit unions have to understand that a merger is expensive and if you don’t budget correctly you could be in the middle and find yourself without enough money to get the job done.”

Hayes leads Beyond Marketing, a CUSO that’s preparing to launch a direct mail packet that aims to help credit unions prepare a schedule on when and what to communicate if a merger is in the works.

“The pitfalls in a merger are plentiful,” Hayes said. “To avoid the difficulties, you have to take it slow, have a plan and involve the employees and community.”

Even if the credit unions involved can create a working budget, work with vendors and avoid the monetary hazards, in the end, a successful merger comes down to communication, Hayes said. Town hall meetings with human resource representatives, employees, long-time members and the community can help ease merger jitters.

“Times are changing and this is not your father’s credit union,” Hayes said. “For a successful credit union merger, you need to stop and think prior to merging because if you don’t, it may not be as successful as you hoped it would be.”S

View article http://www.cutimes.com/2012/10/22/merger-pitfalls-may-hinge-on-failure-to-talk-up-be

Free Business Class to Learn Best Practices for Social Media Marketing.

 Lenexa, Kan. (Aug. 15, 2012) – Beyond Marketing, LLC offered a free class on best practices for local companies.

These free social media marketing classes covered the following content:

• Determining the best social sites for your business.
• How to set up social pages for your business.
• Using Facebook ad campaigns.
• Implementing a content management system.

Beyond Marketing account supervisor Kat Vorkink conducted the classes and suggests, “Using social media as a component of your marketing strategy is essential.  It is important that we not only share our knowledge with our clients,” said Vorkink, “but also with the community.”

“When there are hundreds of social sites to choose from, it can be overwhelming to understand the differences.  Attendees will learn enough about the top sites to determine which ones to initially focus on,” added Vorkink.

Vorkink joined Beyond Marketing in 2011.  Currently, she oversees client relationships, strategy and implementation, in addition to managing Beyond Marketing’s marketing initiatives.  Previously, she served as advertising director at Village Voice Media LLC, business development account executive at Gragg Advertising, and general manager for DairyAgendaToday.com.

Beyond Marketing started operation in 2003 and remains the nation’s only credit union service organization specializing in full-service marketing for the financial services industry.

Learn more about FREE Beyond Marketing classes- kvorkink@beyondmarketingllc.com or 913-541-1255 x 5540.

Beyond Marketing provides credit union and CUSO website analysis within 30 days

Lenexa, Kan. (September 13, 2012) – Beyond Marketing, LLC now offers free website analysis service to any credit union, CUSO, or company with an existing website when they e-mail their request to a special e-mail address.

Using a simple two step process, organizations can receive the complimentary analysis.  First, they send an e-mail to weboffer@beyondmarketingllc.com, to receive a website relevant questionnaire that’s easy to fill out and return.  A phone call to discuss the website is also an option. Then, they receive their free website analysis (including recommendations), which is delivered within thirty days from the questionnaire being submitted.  In lieu of sending an e-mail to Beyond Marketing, interested parties may also call Kat Vorkink at 913-541-1255, extension 5540, to request the questionnaire or ask for details about the free analysis service and evaluation process.

During the analysis, Beyond Marketing will evaluate each website for the following attributes:

• Functionality and design
• Mobile Capabilities
• Search Engine Optimization (SEO)
• Search Engine Marketing (pay-per-click)
• Tracking Capabilities
• Timelines & Pricing for Recommended Website Enhancements

“There is a constant desire and need for organizations to update and refresh their websites, but it’s tough for marketers to know where to begin.  Now they can receive an analysis of their current website and recommendations as a starting point, at no charge and without further obligation from us,” said Kat Vorkink, account supervisor at Beyond Marketing.  “It’s important for organizations to utilize new technology to create an interactive experience for visitors.  An organization’s website is their 24/7 location and should be their number one sales tool.  In addition, it’s the most powerful reference point for members/customers and potential members/customers.”

“More than 78 million people in the US own smartphones and that number continues to grow.  Mobile trends are out-pacing most organizations’ abilities to deliver in this arena. Our free analysis looks at a website’s mobile capabilities and may recommend using responsive design to develop a mobile platform fast, effectively and affordably,” added Vorkink.

See Web Design Portfolio

While cross-selling is one of the most effective ways to increase the number of products or services per member, it often causes a severe case of mixed messages within the organization. While management might be in favor of imbedding a culture that includes a heavy sales focus, it often creates a sense of panic and fear among front-line staff.

Because member service employees are often hired to primarily handle transaction based interactions, they often feel completely out of their comfort zone when asked to participate in cross-sales. So, how can a credit union take the anxiety out of the sales process in order to transition employees into an effective sales force?

Conversational Selling

To avoid forcing an inefficient and inconsistent sales culture, your credit union would be better served by creating awareness on cross-selling opportunities that arise in everyday conversations.  A simple change in mindset will help eliminate ‘sales pitch’ fears for your front-line employees.

Easier said than done though, right?! While this is true and it does take practice, there are easy ways to get employees to start incorporating information on products and services into their daily interactions with members.   The key is to get employees to pick up on the important bits of information that your members provide throughout casual conversation. Those pieces of valuable information can then be used as a basis for the non-confrontational sales approach.

For example, if a member says: “I need to withdrawal $250. We’re moving my daughter into college this weekend and I’m sure she’s going to be asking me for money.” A typical response might be:  “Well, that’s what my daughter would do!  Thanks for coming in and good luck with the move!”

In this scenario, a perfectly good sales opportunity just walked right out the door. The information the member provided is more than enough to effortlessly provide insight into the products or services that could help their college bound student – or the new empty-nest parents! A successful cross-selling scenario would end with your front-line staff member recognizing the opportunity to provide additional information on your plethora of student-based products, vacation loans or even retirement products – perfect for their evolving family lifestyle!

Asking questions and bringing insightful information into a casual conversation keeps the situation from feeling like a pushy sales pitch and eases the fears of cross-selling for the employee. However, to ensure a smooth transition into conversational cross-selling, it’s important to remember that education and practice are essential. It is crucial to have a weekly or monthly meeting that allows employees to share success stories, participate in practice scenarios and even air frustrations about their cross-selling endeavors. The more comfortable your staff is with acquiring additional information from your members, the better the cross-selling opportunities will be!

Taking action to incorporate the less intrusive sales culture into your organization will result in happier employees and greater sales efforts.  Because members typically don’t even realize when a product or service can enhance their lifestyle, the conversational cross-selling practice will encourage employees to provide them the information before they even know they need it. The more relaxed approach provides an opportunity to better serve your members through meaningful conversations, and the outcome will be a more successful sales culture for your credit union.

Contact:
Kat Vorkink
Account Supervisor
Beyond Marketing, LLC
(913) 541-1255 ext. 5540
kvorkink@beyondmarketingllc.com

CUSO Recommends New Tracking Mechanisms to Save Marketing Dollars

Beyond Marketing offers tracking for data-driven marketing decisions

Lenexa, Kan. (June 14, 2012) — Beyond Marketing, LLC can now provide clients with tracking strategies that allow credit unions and CUSOs to capture prospect data when target audiences respond to their marketing communications.  This helps gauge the effectiveness of marketing initiatives, allowing credit unions and CUSOs to make faster and smarter decisions.

“Once clients are introduced to the idea and experience how simple and cost-effective it is to gather usable marketing data, they can’t imagine not having it,” said Kat Vorkink, Beyond Marketing account supervisor.  “Historically, many marketing and media decisions were being made by clients based on gut feelings.  It was apparent we needed to be able to show how many prospects were responding to specific ads, through a specific medium.  For example, a credit union marketer may think that most new member prospects call for promotional details, while tracking data may prove that seventy-five percent went online for more information.  This indicates that future efforts need to be highly interactive.  The overall goal is to quickly eliminate what is not working, and shift marketing dollars to what
is working.”

The three major tracking components are unique URLs, landing pages, and dedicated phone lines.  By “tagging” marketing materials with unique URL’s and dedicated phone numbers per media vehicle, prospects are directed to website landing pages or to phone lines that capture caller information.  The data from respondents is tracked and reported, which takes the guesswork out of the effectiveness of the communications efforts, making the most of the marketing budget.  Credit unions can then become aware of the best placement and advertising medium, e.g., outdoor board, radio, print, or online banner.

Tracking also makes testing campaigns and promotions easier by varying the message, design, and placement, then “tagging” them.  The marketer can receive data showing how audience segments prefer to receive information and to respond to the marketing message.  Sending different promotional pieces to the same audience can quantify which designs and messages evoke the highest response, providing information that saves time and expense when producing the next promotion’s materials.
“Naturally, the better you understand your audience’s preferences, the more effective and cost-effective your marketing efforts can become.  Testing and tracking results will help a credit union create strategies that increase conversion rates, improve ROI, and/or boost member satisfaction.  The  benefits of data-driven decisions and budget savings far outweigh the old method of gut feelings,” added Vorkink.

# # #

About Beyond Marketing, LLC

Founded by credit unions for credit unions in 2003, Beyond Marketing, LLC became the first full-service U.S. marketing CUSO and remains the nation’s only CUSO specializing in full-service marketing for the financial services industry.  Its focus centers on providing clients with revenue and results based on ROI.  Beyond Marketing offers an array of marketing services to fit its clients’ needs.  Capabilities include strategic planning, market research, brand identity development, interactive Web design, print design and production, public relations management, advertising and promotion implementation, media buying, direct marketing, and broadcast production.  Beyond Marketing’s investors include CU Holding Company and The Veridian Group, Inc., a wholly-owned CUSO of Veridian Credit Union, Waterloo, Iowa.  For more information, visit www.beyondmarketingllc.com or @BYMarketing on Twitter.

Contact:
Curtis Hays
Director of Strategy
Beyond Marketing, LLC
(913) 541-1255 ext. 5521
chays@beyondmarketingllc.com

CUSO Website Offers Free Marketing Materials to Promote Auto Loans

Beyond Marketing’s BFree program offers free marketing materials for CUs

Lenexa, Kan. (May 24, 2012) – Beyond Marketing, LLC posted its newest set of free advertising materials to their website, for credit unions to use in their promotion of auto loans to members. The 2012 auto loan campaign theme materials, “You Joined this Credit Union for a Reason — Low Interest Auto Loans was a Good One,” are provided at no charge to any credit union as downloadable art files for a variety of print items, web banners, in-branch lobby screens, and ATM screens.

“We added the new auto loan ad materials as a BFree homepage feature on our redesigned Beyond Marketing website. All the credit union marketer does is download and save the art file they want to use, then their graphic designer or printer simply adds the credit union’s logo,” said Curtis Hays, director of strategy for Beyond Marketing. “Our mission is to create a more powerful, successful credit union industry. Helping credit unions market financial products is a big part of what we do every day. This program delivers high-quality, no-cost ad materials designed to bring members to the credit union for a vehicle loan. We believe that’s a worthwhile endeavor.”

A growing variety of no-charge, ready-to-use BFree advertising downloads reside on Beyond Marketing’s website. Promotional materials for mortgage loans, vacation loans, auto loans, and the benefits of joining a credit union remain online for credit unions to use at any time.

Beyond Marketing established the BFree program’s website in 2010 for credit unions to access
free promotional materials at www.beyondmarketingllc.com/bready/bfree/. It continues to serve as the only marketing CUSO website dedicated to providing credit unions with online marketing solutions at no charge. Fully customized ads are also available from Beyond Marketing for credit unions to purchase.

In addition to BFree marketing materials, Beyond Marketing’s recently enhanced website also features a new blog, videos, client testimonials, and an updated portfolio.

# # #

About Beyond Marketing, LLC

Founded by credit unions for credit unions in 2003, Beyond Marketing, LLC became the first full-service U.S. marketing CUSO and remains the nation’s only CUSO specializing in full-service marketing for the financial services industry.  Its focus centers on providing clients with revenue and results based on ROI.  Beyond Marketing offers an array of marketing services to fit its clients’ needs.  Capabilities include strategic planning, market research, brand identity development, interactive Web design, print design and production, public relations management, advertising and promotion implementation, media buying, direct marketing, and broadcast production.  Beyond Marketing’s investors include CU Holding Company and The Veridian Group, Inc., a wholly-owned CUSO of Veridian Credit Union, Waterloo, Iowa.  For more information, visit www.beyondmarketingllc.com or @BYMarketing on Twitter.

One of my favorite questions to ask a client or prospect is, “how did you create your existing marketing mix”.  Frequently, the responses I get are probably ones you’ve heard or maybe even given yourself, “It’s just what we’ve always done”, “we probably get _# of leads or $_ of business a year from publication X” or my personal favorite, “I felt it was a good fit”.

Let’s be real, a gut feeling can come in handy with many life situations but NOT with marketing.  When you could be making data-driven decisions, why risk and possibly waste your budget?

 Tracking Mechanisms.

The three major players in effective tracking are:

• Unique URLs
• Landing pages
• Dedicated Phone lines

By “tagging” your marketing materials with unique URL’s and dedicated phone numbers, then driving online responses to landing pages, the guesswork is take out of your efforts.  In addition, much of this process can be automated, requiring little project management or administrative time.

Testing and Planning.

Whether you are looking to capture new members/clients or trying to get more business from your existing base, testing can point you in the right direction.

By varying your message, design and placement, you can start to learn how your particular audience prefers to receive information and respond to you…through tracking.  For example, while you may feel that most new members call for promotion or campaign details, tracking data may prove that out of 150 respondents, 100 went to your unique URL and only 50 called into a branch.

In addition, sending different pieces to the same audience can help you understand which designs and messages evoke more of a response than others.

Naturally, the better you understand what your audience responds to along with how they respond, the better you can match up your efforts.  Results can be increasing your conversion rate, ROI and/or member/client satisfaction.

Benefits:

Once you incorporate tracking, the benefits come quickly and soon you won’t believe why or how you operated without being able to:

• Track lead flow from each piece.
• Identify which initiatives are working.
• Eliminate what isn’t working.
• Move marketing dollars to what IS working or test new initiatives.

For more information, http://www.beyondmarketingllc.com/tracking/