Verity CU Spots a New Niche and Seeks a Virtual Mother of Invention
The credit union has expanded its outreach efforts and unveiled VerityMom, a platform created by British Columbia-based marketing agency Currency Marketing to help Verity CU connect and learn from Seattle-area mothers.
Verity CU Marketing Manager Terrell Meek added that the microsite, veritymom.com, will also serve as a fun, educational resource that will help mothers navigate their busy lives.
"Reaching out to moms has been something we've been researching and wanting to incorporate into our overall outreach strategy for a little over a year," said Meek. "We saw how effective Young & Free has been with Gen Y, so why wouldn't this approach work with moms who are so active online? They're on Twitter, Facebook. They have blogs, participate in online communities, so we see this as a unique and exciting way to communicate."
To generate interest, the credit union has teamed up with Currency Marketing and launched an online search for one creative, funny, talented part-time VerityMom blogger and spokesperson. The VerityMom spokesperson responsibilities will range from speaking at and attending various local events to keeping the veritymom.com Web site fresh and relevant with a mix of videos and blogs.
"When you think it is an interesting challenge," said Meek. "That we are giving away a job in this economy is a big deal. And even working moms could squeeze in 20 hours a week to do something that I think is so fun and creative."
Mothers vying for the gig have until Sept. 13 to fill out an online application and upload a video and blog post explaining why they should be picked on veritymom.com. Site visitors will then vote for the finalists and ultimately select the winner who will not only receive a part-time blogging contract worth $20,000 a year but also a new Apple MacBook Pro laptop computer and Flip Mino HD Video Camera to do the job.
With an eye on building a true community resource for area moms, the spokesperson will also be reviewing local businesses on everything from how mom and kid friendly they are to how their products and services measure up. Meek said the move is a win for everyone. It further reinforces the credit union's image of being a real community partner, shines a light on small local businesses while also providing valuable, instant feedback from their target market.
"We want this to be a place where moms meet, talk, share tips and advice, while giving us an opportunity to learn more about them and what they want, expect or need," Meek said. "Our intention is for this to be authentic and genuine, so the mom selected will have final say and creative control over the whole VerityMom site. We don't plan to micromanage it."
According to Currency Marketing President/Creative Director Tim McAlpine, the approach helps the credit union become more relevant through dialogue, and it can help raise Verity CU's profile on moms' consideration lists for possible financial institutions.
"Our purpose is to help credit unions deepen their relationships with members and to persuade bank customers to become credit union members. We feel that the 'Mommy Blogger Challenge' has the potential to attract thousands of new members to the credit union movement," said McAlpine.
To further help bump the credit union to the top of moms' minds, Verity CU has also launched a Cartwheel Checking product that offers 3.05% APY on balances up to $10,000. To qualify, members must register to receive electronic statements, make 12 point-of-sale transactions a month with their Verity debit card, and access their Home Banking profile at least once a month.
"We're really excited," said Meek. "Moms make most of the spending decisions in a family and they hold the most influence over where their children will eventually do their banking. We are looking at this as a multigenerational strategy."
To generate buzz, the credit union has spread the word via a mix of social media via online channels like YouTube, Twitter and Facebook, and more traditional avenues such as branch posters, floor decals, print ads and promotional giveaways.