Letter to the Editor: Orman Ads Get Results
Ever since Oct. 5, 2011, was dubbed Bank Transfer Day, credit union officials and others have been speculating about how many consumers joined credit unions on that day. Later this month, the NCUA will put an end to the speculation when we compile membership data from credit unions’ fourth-quarter call reports. Like many of you, I am eager to learn the results.
But we have already measured the impact of another national campaign that has had extraordinary results: NCUA’s consumer education campaign featuring Suze Orman. And unlike the one-day wonder of Bank Transfer Day, Suze Orman continues to attract members to credit unions.
• The actual value of donated advertising for credit unions topped $9.6 million, compared with the cost of $1.6 million for campaign production. That’s a return of $6 for every $1–a powerful bang for the buck.
• In human terms, the campaign touched more than 190 million consumers–less than one penny for every positive impression.