Centric Federal Credit Union for Integrated Advertising Promotion

Centric Federal Credit Union for Integrated Advertising, Promotion, and Marketing Communications, 7 e Clow and Baack Advertising Agency Emogen Marketing Group Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 1

Integrated Campaigns In Action: Agency Background • Emogen Marketing Group Brian Warren Owner; Account Exec & Creative Director – Full-service creative marketing firm – Primary focus on increasing clients’ revenues – Started in 2007 – Current staff • 4 full-time employees • 1 part-time employee • Various freelancers Sarah Warren Owner; Marketing Consultant Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 2

Integrated Campaigns In Action: Client Background (Part 1) • Member-owned, member-operated, and member managed • Income generated through loans • Loans constrained by deposit volume • Centric provides same financial services as bank • Since non-profit - profits paid back to members – Lower fees – Better interest rates – Dividend payments Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 3

Integrated Campaigns In Action: Client Background (Part 2) • Membership requires application • Deregulation increased flexibility in membership criteria • 2005 name changed to Centric Federal Credit Union from Forest Kraft Federal Credit Union • Adopted new technologies • Remodeled locations • Customer-focused in-center floor plan Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 4

Integrated Campaigns In Action: Client Background (Part 3) • Public holds misconception of credit unions – Who can join? – Services offered? • Low awareness of Centric • High number of members who joined strictly to obtain loans – Held minimum in savings and/or checking Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 5

Integrated Campaigns In Action: Agency Challenge • Objective – Increase Deposits – Loans tied to level of deposits – Loans generate primary revenue Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 6

Integrated Campaigns In Action: Plan of Action • Increase new memberships – Checking accounts • Increase deposit accounts and balances – Current members • Update website – Improve communications – Reflect advances in technology and services Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 7

Integrated Campaigns In Action: Increase New Memberships • Challenge – educate potential members – Who is eligible to join? – Why is Centric best option? • Complex messages for traditional advertising Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 8

Integrated Campaigns In Action: Increase New Memberships Focus on selling benefits of “banking” with Centric – not on selling a credit union. Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 9

Integrated Campaigns In Action: Increase New Memberships • Benefit of “banking” with Centric – Lower account fees – Higher dividend rates on deposit accounts – Lower interest rates on loans Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 10

Integrated Campaigns In Action: Taglines “Redefining banking” “Just like a bank … only better” Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 11

Integrated Campaigns In Action: Broadcast Campaign • • Benefit focus: no-fee, basic checking account Campaign message: “Free-er Than Free Checking” Execution approach was humor Media – Television – Radio Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 12

Integrated Campaigns In Action: Television Ad - Sasquatch Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 13

Integrated Campaigns In Action: Television Ad - Leprechaun Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 14

Integrated Campaigns In Action: Billboard Campaign • Longer commitment required • Simplified message • Focus on answering – “What is Centric? ” – “Why choose Centric” – “What services does Centric offer? ” • Billboard Messages – Checking – Savings – Loans – Fewer fees. Better rates. Nicer people. Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 15

Integrated Campaigns In Action: Billboard Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 16

Integrated Campaigns In Action: Billboard Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 17

Integrated Campaigns In Action: Increase Deposit Accounts and Balances Current Members • Direct mail campaign to members without checking accounts • Telephone follow-up calls • “Crack the Safe” promotion for each new account opened Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 18

Integrated Campaigns In Action: “Crack the Safe” Contest • With each new account opened, member guessed digital lock on safe • Winning code won new car valued at $40, 000 • Contest extended to new members Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 19

Integrated Campaigns In Action: Postcard (Page 1) Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 20

Integrated Campaigns In Action: Postcard (Page 2) Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 21

Integrated Campaigns In Action: Update Website Clow. Baack – Integrated Campaigns in Action Copyright © 2016 Pearson Education, Inc. 22