Attract More Members With Persona-Based Marketing

By Jennifer Simmons, Director of National Alliances, ADVANTAGE

Tips for a Smarter Growth Strategy

Does it feel like a constant battle to acquire more new accounts? Between national banks with big marketing budgets and fintechs offering frictionless digital experiences, smaller financial institutions need a more strategic approach to attracting and retaining members.

The solution? Persona-based marketing. Instead of casting a wide net, this approach tailors messaging and engagement to specific audience segments – leading to stronger connections, higher conversions, and long-term relationships.

The Growing Demand for Personalized Banking

Today’s consumers expect financial institutions to understand their unique needs. Consider these insights:

• 73% of consumers expect companies to personalize their experiences (Salesforce).
• Personalized marketing campaigns generate 5-8x higher ROI than generic efforts (Forrester).
• More than 50% of consumers will switch brands if they feel they’re not receiving relevant messaging (Accenture).

If large banks and fintechs are capitalizing on personalization, how can community credit unions compete?

The Competitive Edge of Persona-Based Marketing

Traditional marketing often takes a one-size-fits-all approach, hoping the right consumers will respond. Persona-based marketing flips that script by allowing your credit union to:

• Identify high-value prospects based on behaviors, demographics, and financial goals.
• Develop targeted messaging that speaks directly to different consumer segments.
• Increase engagement and retention by delivering the right message at the right time.

For example, the financial priorities of a young professional looking for a mobile-first banking experience differ significantly from those focused on wealth preservation. By recognizing these differences, your credit union can customize its outreach for greater success.

Where to Start: Defining Your Ideal Member

Before launching a persona-based strategy, it starts with identifying key personas. Here’s how:

• Analyze your current membership base – Identify trends in demographics, behaviors, and banking needs.
• Spot gaps and opportunities – Are certain high-value segments underrepresented?
• Develop an Ideal Client Profile (ICP) – Focus on consumers who align with your credit union’s long-term goals.

By honing in on the right personas, community financial institutions can shift from broad marketing efforts to precisely targeted growth strategies.

When to Turn to Experts for Help

While persona-based marketing is highly effective, executing the strategy requires deep consumer insights, data analysis, and the right marketing strategies. Many community credit unions struggle with the following:

• Defining personas with precision – Identifying the most valuable segments for growth.
• Developing targeted messaging – Crafting campaigns that resonate with different audiences.
• Leveraging automation and personalization tools – Using the right technology to scale efforts efficiently.

If your credit union would benefit from having additional resources to build and execute a persona-driven strategy, working with an expert partner can help you bridge the gap.

Want to take the next step? Contact ADVANTAGE to explore a customized solution for your credit union.