Referral Programs Work | |
You know that word of mouth marketing works. Most credit unions can dramatically grow their membership, simply through casual referrals. But what if you took it one step further?Structured Referral ProgramsStructured referral programs targeted towards your Hispanic members are an excellent way to maximize something you probably already do - provide excellent service and encourage your existing members to pass your name onto their colleagues. Referral programs tend to work very well in the Hispanic community, with word-of-mouth and family values weighing heavily on most decisions. This grassroots advertising technique often gives a credit union more "bang for its buck" as compared to traditional advertising methods. The key is generating good word of mouth. Here are some tips to consider as you develop a referral program to enhance your Hispanic outreach efforts:
- Give your program a catchy name that resonates with the community.
- Encourage members to build deeper relationships with the credit union. (For example, only provide an incentive when the potential member being referred signs up for direct deposit along with a savings account.)
- Reward the referrer, as well as the person he/she refers.
- Provide instant gratification to the referrer. (Whether it is a $10 deposit into their savings account or a $10 reloadable card.)
- Consistently communicate your referral program in email signatures, voicemail messages, newsletters, statement stuffers, teller displays, etc.
- Notify your community partners about your referral program and distribute information they can hand out to their customers/patrons.
- Track your results so that you can measure the program's success.
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They Want Mail - Direct. Start a Direct Mail Campaign Today and Receive a Discount! | |
Studies show that first and second generation Hispanics, Hispanics of all income levels and Spanish-speaking Hispanics have a significantly higher response rate to direct mail than other readers. Is your credit union taking advantage of this opportunity? Let Coopera help you. Coopera offers comprehensive direct mail services including:
- A segmented list of prospects (Ex: Hispanic household, preferred language, etc.)
- Culturally relevant content and design development
- Fulfillment of a direct mail postcard campaign
Discount Expires March 31! Place your order between now and March 31 and receive a 15 percent discount!
Please contact Miriam De Dios at 800.860.6180 x6102 with any questions or for a quote. |
El Poder es Tuyo™ Updates | |
We welcome the following credit unions to El Poder es Tuyo™ (Spanish Web site for Hispanic members):
Coming soon on El Poder es Tuyo™:
- 03/14 - To Buy or to Own
- 03/21 - What to Know About Being a Landlord
- 03/28 - Recognize Scams Targeting Small Business
- 04/04 - For Profit Colleges- Study Up Before You Enroll
El Poder es Tuyo User Testimonial
"It makes me happy to see my credit union focus on the Latino community in the United States."
- Lucia Arenas First Financial Credit Union |