Retail Strategy+Channel Integration+Media Plan

Retail Strategy+Channel Integration+Media Plan

Question: Let’s say you’re rolling out a phenomenal, limited-time ALA rate for new and used auto loans. How do you get the word out and capitalize on this promotional rate you had to pull teeth to get Lending to approve?

Answer: There is no universal right answer.

The tried and true path lots of credit union marketing teams take is actually the tired and true path—consumers have seen it all before, and now it’s easily ignorable. You don’t want to waste your marketing budget on clones of previous campaigns. You want bold. You want powerful. You want a data-driven strategy that will increase your bottom line (and make your competitors jealous at the same time).

At Raoust+Partners, we develop the campaign’s creative concept to include every single touch point, deliverable and asset to be deployed during the campaign.

At the same time, we give every available media outlet a fair shake in selling us on why they should be part of the mix. And the final Media Plan is based on cost vs. reach vs. potential benefits.

If you want it done right, it’s going to take some sweat (don’t worry, we’ll bring towels). Full consideration and honest assessment of the following three areas are the basis for the strongest, most successful campaigns: Retail Strategy, Channel Integration and a Media Plan.

Retail Strategy

We’ve been spearheading and executing credit union retail strategies for years. We’ve seen the good, the bad and the ugly. We can’t tell you how many times we’ve witnessed two things in considering the Retail Strategy of a campaign:

  • 1. The credit union fails to recognize they have very different audiences with completely differing habits and objectives.

Or:

  • 2. The credit union opts for a campaign concept that’s either too here-today-gone-tomorrow trendy or just plain wallpaper (the opposite end of the spectrum). In either case, they end up completely out of synch with their target audiences.

Which ultimately leads to failing to score the ROI you promised your CEO. And you definitely don’t want to do that.

Here at Raoust+Partners, we dig deep to learn about your audience, chasing down the answers to even the most difficult questions in order to create the perfect retail strategy.

Who are your target audiences? Are they existing members? Prospective members?

How about your internal audiences? Let’s not forget about them. Where do they live? How do they live? What’s their income? What’s their lifestyle? What motivates them? How do they consume messaging?

The list goes on and on—because being thorough is the first step to creating a groundbreaking strategy.

We also tap into your previous campaigns to discover what tone of messaging was most effective with each audience.

It’s not the easy way. But it’s the right way.

Channel Integration

Our tagline is “Full Contact.” We preach it. We live it. We breathe it. But what do we mean by it?

Full Contact Marketing honors this simple code: No deliverable is insignificant.

Everything needs to work together—every deliverable, every asset. Because it only takes one orphan to blemish, if not degrade, the integrity of a great campaign.

Whether it’s a low-cost take one at the branch, a quickie email to members or training material for your front line staff, every touch point with every audience for that campaign should look, feel and behave the same. What a member sees on your site, what a prospect hears on Pandora or what one of your team members learns in an internal training webinar should be holistic to the campaign.

Wherever your audiences are, they should immediately recognize the messaging and be able to easily take the next decision-making step. That’s Full Contact, baby.

Media Plan

You have tons of options. The question is, which media channels are going to work the hardest for you?

Our advice: Stay open-minded and take what you hear about the “latest and greatest” media channels with a grain of salt.

Where you are and who you are targeting—as well as the reputation of regional/local media—will have a huge bearing on your campaign’s media strategy. For example, a deposit campaign will target a different demo than a first-time homebuyer’s campaign. And each will have a distinct media strategy.

Bottom line: Let’s take a serious look at all available channels—traditional, digital, social and even guerilla. Then, based on that old standby, the cost/benefits analysis, we’ll put together the strongest media strategy for your campaign.

No matter where the best channels are for your campaign, you’re in good hands with Raoust+Partners. We have experience in virtually every medium out there:

  • 1. Digital: Search, Retargeting, Remarketing, In-App Geo-Fencing, Email Marketing (members and prospects), web display advertising, Pandora, Spotify, Hulu
  • 2. Social: Facebook, Instagram, LinkedIn, YouTube
  • 3. Traditional: Print (dailies, weeklies, monthlies), Radio, TV (broadcast, cable) Billboards (digital and static), Direct Response (purchased list and EDDM), Point of Sale Merchandising

How We Work Media with Our Credit Union Clients

You’ll find we’re a flexible bunch. That’s why we offer multiple options to make sure our partnership is set up exactly how you want it.

Option 1: We Do It All

We’re your one-stop media resource (research, planning, negotiating, buying, managing, all back-end analysis of effectiveness and reporting). In this scenario, Raoust+Partners generates one invoice each month covering all activity and media buys for that period.

Option 2: Everything But the Buys

We do all of the above except the credit union makes the actual buys and media billing comes directly to them. R+P generates one invoice each month for all work we’ve put into media management for that month.

Option 3: Choose Your Own Media Adventure

This option is any combination of the media research, planning, negotiating, buying, paying for, analyzing and/or reporting that works for you.

Ready for Growth?

With our extensive experience in working with community-based credit unions, SEG-based credit unions and credit unions with TIP charters from coast to coast, we’ve seen it all. We bring an invaluable perspective that you may want to hear before you begin your campaign—versus after all is said and done.

Check out our work, then give us a call.

We’d love to talk about how we can help grow your credit union.