Will the Industry Leverage Transfer Day? Print Preview
- Last year, Bank Transfer Day sparking an unprecedented national movement that inspired hundreds of thousands to become members.
- Some industry leaders say there’s an excellent opportunity to build on the BTD movement.
- Other credit union observers contend that BTD was just a one-off event that will fade away.
Monday, Nov. 5th, marks the first anniversary of Bank Transfer Day, a national grass-roots social media movement that motivated 664,000 consumers to join credit unions, leaving their rising big bank fees behind. What’s more, Transfer Day’s unprecedented and widespread media coverage told the story of credit unions as a better alternative to banks.
But unlike the milk, pork and egg industries that spent millions in national marketing campaigns, credit unions wouldn’t need to invest a fortune to promote Every Day is Bank Transfer Day, and it would allow many of the industry’s small and midsize credit unions participate, Hall said.
Hall proposes that credit unions in common geographic areas collaborate and share resources to coordinate marketing campaigns that would highlight the trademark message, Every Day is Bank Transfer Day. For example, some South Carolina credits unions used the tagline throughout the month of October on their print, social media and Web advertising as well as radio and TV spots. Samples of these coordinated marketing promotions are on www.btdnow.org.