In This Article
Guest Author : RJ Huebert, Managing Principal, HBT Digital
As a Credit Union, one of your goals must be to maintain an engaged and active member base. However, it’s not uncommon for members to become inactive over time, whether due to life changes or other factors.
That’s why for this week’s blog we have the experts in customer retention sharing the best strategies on reactivating your existing customer base.
You’ll learn quick wins to reengage credit union members who have not been active in a while.
Why Is It Important to Reengage Inactive Members?
Once you have acquired new members, retaining them is a cost-effective way of maximizing your ROI.
Additionally, inactive members may still be valuable to your Credit Union and reengaging them could lead to increased revenue and growth.
Strategies for Reengaging Inactive Members
– Personalized Communication
Reach out to inactive members with personalized communication, such as a personalized email or phone call.
Let them know that you value their membership and are interested in helping them achieve their financial goals.
– Create Targeted Online Ads
Pull data on members and their credit union products, and then create custom audiences. Target these individuals with specialized ads to cross-promote products and services.
– Special offers
Offer special promotions or discounts to inactive members to incentivize them to come back.
offer a cash bonus for opening a new savings account, waiving fees for a certain period of time, or a discount on a loan product
Conduct surveys to gather feedback from inactive members about their experience with your Credit Union. Use this feedback to make improvements and better meet the needs of your members.
– Social Media
Utilize social media to connect with inactive members and share updates and news about your Credit Union.
This can help keep them engaged and remind them of the value you provide. Try using real members in social media stories and posts!
Offer educational resources, such as financial planning tools or webinars, to help inactive members improve their financial knowledge and make informed decisions.
– Rewards Program
Implement a rewards program that incentivizes members to use your Credit Union’s services and engage with your brand.
This can be an effective way to encourage inactive members to become more active and engaged.
– Human Touch
Provide a human touch by offering personalized financial advice and guidance to inactive members. This can help build trust and foster a deeper relationship with your Credit Union.
At HBT Digital we believe, reengaging inactive members is an important part of maintaining a strong and engaged member base for your Credit Union.
By implementing these strategies, you can reconnect with inactive members, build trust, and foster long-term relationships.
Remember to personalize your communication, create targeted online ads, offer special promotions, gather feedback, utilize social media, provide educational resources, implement a rewards program, and offer a human touch.
With these strategies, you can reengage your inactive members and drive growth for your Credit Union.
RJ Huebert, owner and managing principal at HBT Digital Consulting, is an award-winning digital marketer.
He specializes in lead generation using search engine marketing and social media advertising for credit unions, technology, and education companies.Residing in Pittsburgh,PA,HBT Digital focuses on conversions to help an organization’s bottom line.