True, it’s possible your brand is more legacy institution than hip coffee shop, which means being wacky really doesn’t fit. However, 95% of brands are too afraid to act fun. The data supports this tactic, too – 72% of consumers choose funny brands over their competition. Liberty Mutual’s “LiMu Emu & Doug” are great examples of wacky marketing for a fairly grounded product (car insurance). Once you point out the problem, you can present the solution – you! Be Fearless and FunĪs strange as it sounds, insurance companies aren’t afraid to be zany. Or highlight how payday lenders will put your members or customers into a deeper financial hole. Lead with how dealership-backed auto loans could leave consumers paying more. And while your too-good-to-pass-up rates are definitely an asset to your institution, they don’t sell on their own.įocus on the problems your features solve. As Allstate’s commercials say, “if you don’t have the right auto insurance coverage, you could be left to pay for this yourself.” In fact, their mascot – Mayhem – is the perfect description of consumers’ fears.Īs a credit union or community bank, there’s a temptation to focus on features. They know people are afraid of unexpected, costly events. Insurance companies understand their consumers’ fears. How does your brand voice feel? Whether it’s quirky or grounded, make it consistent across all platforms and easily identifiable. For example, Flo gives Progressive a friendly vibe. His big, fun-loving personality has found its way onto vacation loan ads and into SEG-related events.īut even if you can’t have a spokesperson, you can have a distinct voice. One credit union client in Texas has a staff member who acts as a spokesperson in this way. Your members or customers already love this person, so give them more of what they love! Make your most popular staff member into your spokesperson. And this method doesn’t have to rely on crazy budgets or hiring an actor. Who doesn’t know Flo from Progressive? Or the Geico gecko? The insurance industry has some of the most recognizable spokespeople around. Here are some quick ways to market like an insurance company and make your institution more interesting. Not many people get hyped up about insurance companies, but you certainly know these companies’ marketing efforts. Why?īecause marketing can make even the most “boring” products and services into exciting experiences. Consumers simply aren’t as interested in loans and accounts as they are in the latest iPhone or Nike sneaker.īut this isn’t a game over kind of problem. And that’s not a reflection on your credit union or community bank - it’s just a reality. It’s not always nice to say the quiet part out loud, but financial services can be…well…boring.
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