"There is still time to make the changes needed to support evolving consumer behavior," he said.

Here are six tips Lay offered to credit unions looking to amp up their digital marketing game.

1. Change your perspective of what digital marketing is.

Digital marketing is a process that should be built and optimized across the consumer journey, with the end goal of positioning your credit union as a helpful financial guide for its community. And while creativity is a key element of marketing, he emphasized it shouldn't be a primary objective.

"In the end, it's about growth and impacting the bottom line, not creativity," he said.

2. Keep an eye on the disruptors.

Nontraditional competitors such as nonbank lenders are popping up everywhere, and Lay noted that if credit unions don't cater to modern consumer shopping habits, the disruptors will gladly do so. He recommended monitoring disruptors' actions, even applying for a loan with a company such as Lending Club to get a first-hand feel for the experience it offers.

3. Keep things simple.

Less is more when it comes to designing content for digital channels. But the mobile channel makes it easy to simplify, Lay said – with limited space available, organizations are forced to strip away everything that doesn't matter when creating a mobile-only campaign.

He said, "Ask, how is our messaging creating friction and confusion in the digital marketing journey?"

He also referred to two recent smartphone campaigns in which the more successful one zeroed in on the end result for consumers. For its iPhone 6, Apple displayed stunning photos on billboards with the simple message "Shot on iPhone 6," while a Windows Phone campaign focused on the promise of "500 new features." The result? A loyal iPhone 6 following and few Windows Phone fans.

4. Think in terms of helping, not selling.

A credit union's moral authority is to help other people, and that concept should be given much more weight than selling to people, Lay said. While few people truly enjoy selling or being sold to, most can agree they enjoy helping others or being helped, he added.

"We need to focus on how we can help the consumer use the product to achieve their hopes and dreams," he said.

5. Build a digital community.

To reach more members and potential members, credit unions should leverage email acquisition to generate new leads and always ask for referrals, Lay said. He warned against relying on Facebook to connect with more people online because page owners must pay to reach their full audience of followers.

6. Define a consumer persona.

When considering who your audience is, it's important to nail down your typical member's traits and focus on a niche group of people, Lay said. Personas help to humanize the digital experience, and credit unions must consider the targeted consumer's questions, concerns, hopes and dreams, Lay noted.

"Be careful not to project yourself and your world view onto the general marketplace, that's a very dangerous approach," he pointed out.