Capturing Member Attention during the Holidays
While the holiday season can be filled with joy and celebration, it can also be a period when many overlook their financial health. From gifts to feasts to decorations, holiday costs can stack up quickly, making it a crucial time for people to stay engaged with their finances.
Because of the holiday rush and financial stress, member engagement can be challenging for credit unions during the holiday season. Yet, this season presents unique opportunities. By leveraging holiday deals, community involvement, and digital platforms, your credit union can turn this typically challenging period into a time of growth and member connection.
Let’s explore how your credit union can effectively capture member attention during the holiday season.
Offering holiday deals
The holiday season is full of shopping deals, making it an opportune time for credit unions to introduce attractive offers.
Cash incentives
Many people search for extra money during the holiday season, so cash incentives can entice people to join your credit union. Offering bonuses for new account sign-ups, credit cards, or loans can move the needle on membership.
Holiday raffles
Offering a raffle for the holidays can be a great way to increase card usage. Taking inspiration from Chase’s marketing playbook, they increased spending on their cards by announcing that they would reimburse select purchases during the holiday season for some lucky card users.
Free financial coaching
The complexity of budgeting during the holidays can be overwhelming. Offering complimentary sessions with financial coaches can provide valuable support and draw members in.
Personal loan promotions
People might be more likely to think about consolidation around the holiday season. Attractive rates on personal loans can be a significant draw to engage members.
Community involvement
The holidays are a time of community spirit, presenting a golden opportunity for credit unions to strengthen their community ties.
Sponsoring local events
Events like holiday parades, light shows, and night markets can offer great marketing opportunities, from simply increasing your visibility to providing a platform to educate the community about your services.
Hosting holiday drives
People want to give back during the holiday season, and food and toy drives are a great way to do just that. Organizing food or toy drives demonstrates your commitment to community welfare and embodies the spirit of giving back.
Offering free holiday services
Certain holiday tasks like gift wrapping can be a major hassle. Providing free gift wrapping at your branches can be a great way to get community members in the doors. Alternatively, offering a Santa photo station can be another great way to engage your community – while allowing members to avoid the mall crowds.
Digital engagement
In the digital era, many people prefer to do all of their holiday tasks online. It’s imperative to meet these people where they are as well.
Paperwork is a white label financial wellness app that can help your members through the holiday season. With spending, saving, and debt analysis, users can make sure their finances stay on track. If they need extra help, members can reach out to their financial coach at the click of a button. Educational modules that cover spending and saving can help members better understand effective budgeting, while we display in-context product offers from your credit union, right when members need them.
This holiday season, let's transform challenges into opportunities and deepen our connection with members. To learn more about Paperwork, schedule a free consultation today.