Ditch the Bait and Switch

Ever been the victim of a "bait and switch"? See an ad for something at a great price, almost too good to be true. You go to the store, or website…and they're out of stock. But there are other items available, substitutes, usually. And they're almost always different enough or more expensive enough that you don't buy. You took the bait, they switched the goods, and you're left feeling misled and mistreated. That can't help that company's reputation, can it?

That's what happens when organizations don't think about their own culture and align it with their marketing efforts. And it's a common fail.

Most organizations think: here's a product, here's a service. How can we sell it? What's the key message? What's cool now? What will catch folks' eye? How can we appeal to our target demographic? The effort to create marketing and advertising is built around the product, and the medium we're using, and the folks we're trying to reach. Makes sense, right? But all too often, the product/customer/media discussion leads to one type of message...which the culture of the credit union or company can't support. 

Consider a radio spot with young adults talking about where they bank. One of them says his credit union is great. Nice people, friendly, fast. And the ad works. A young person comes into a branch... and the switch is complete. There are tellers... but there's a line. There are forms to fill out. It's right before lunch... and that teller isn't thinking "friendly"... she's thinking, "hungry." That potential member… maybe now, not so much.

The ad worked—but it hadn't considered the culture. In this case, the culture couldn't support the outreach. The actual experience didn't match the advertised experience. Bait and switch.

When effective organizations think about marketing, they think NOT JUST product, media, target. They think culture. They ask themselves: who are we, how do we behave, and can we support the advertised experience through our people, processes and behaviors.

And keep in mind: culture is not what you say. It's what you DO. Culture is the sum total of all the behaviors in your credit union. Align them with your marketing, and potential members will become actual members. 

Too many people say (when referring to their logo), "But, that is our brand." Your organization's brand is not a color or image. Your brand is the emotion that people feel when thinking about your organization or seeing your logo. Much like culture is not what you say, a brand is not what you do…but rather, how you make people FEEL.

Have you strategically woven together your marketing efforts, brand, and culture? It’s still early enough in the year to revisit strategic goals. Make sure your marketing efforts and brand truthfully tell your members and customers who you are, what you do, and leave them feeling something positive. Tell your story honestly and avoid the old “bait and switch.”

Deb

Deb Schaffer, CCUFC, is the Business Development Manager and Consultant for Chatter Yak! with a passion for credit unions and more than 16 years in the credit union industry. Follow Deb @debschaffer.

Posted on April 17, 2014 and filed under Feature Small.