According to "The CMO Survey," released in August of this year, "marketing budgets are expected to increase by 7.2% in the next year." The survey indicated that spending increases will focus on content marketing creation. While not getting into specific budget numbers, Bergstrom said his credit union's marketing strategy will focus on three areas:

Difference between banks and credit unions – While the message isn't new for credit union executives, this is still an important part of credit union marketing. "We've been focusing on the advantages and real differences that are meaningful to members about credit unions versus banks for the past two years. We need to find a more effective way to get that message out," Bergstrom said.

Finding the audience – Bergstrom suggested using a digital agency to help with audience and digital research, because the digital landscape shifts constantly. "I think for most credit unions, they are going to have to look outside and they'll have to look at a digital agency to help them with that. And there's nothing wrong with that." He continued, "But it's important that they do that because that's where members are and we can't use and dominate traditional media when our members are moving into the digital space."

Understanding millennials – This is where Bergstrom believes credit unions can thrive if they can understand what millennials want. "For us, focusing more on millennials and understanding how we can message and market to them in a way that gets their attention, even if it's a fleeting moment and gets them to think about 'Hey, maybe there is something that's out there for me!'"

Instant Insights /

Credit Union Marketing: Looking Ahead to 2017

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