Last week we talked about the importance of differentiating with data … the “D” in Dream. Now let’s begin by talking about the Google machine. I cannot even remember my life before it? Did we go to the library to do research? Pull out our 10 year old Encyclopedia Brittanica? If you’re a Millennial reading this – Google it – it’s a thing.
Anyway- Kirk cracks the code on getting Google’s attention. Put simply, the ultimate goal is to have someone in your field of membership searching for a solution to a problem and bam – you have the answer and land on the top (or near) the first page of responses. So just for fun Google “good financing for a car loan in (insert your city name).” Was your credit union there? If so, congratulations. If not, why?
I don’t know of a credit union out there that doesn’t want to be known as the “trusted resource for financial services.” How do you earn that trust? Not by product pushing and always leading with rate. Not with clever ads and shiny happy people on your website. It’s about identifying with your target audience and giving them resources, content, information and education, about stuff that has nothing to do with your products and services. A really good example is Point West Credit Union in Portland, Oregon. They were founded in 1932 to serve employees of Multnomah County. After the Great Recession of 2008 they focused their mission on community development. They received their CDFI designation in 2013 and merged two very small diverse credit unions in – NAACP and Hacienda Community. In 2016 they funded $5.4 million in affordable loans to non-citizens! That’s a real differentiator. They have created a community within their community. On Point West’s site they have a page dedicated to resources for non-citizens.