River Valley Credit Union
River Valley Credit Union, a $345 million credit union located in Miamisburg, Ohio, serves Dayton, Ohio, and surrounding communities. Recently, the credit union refreshed and modernized its brand. While River Valley is well established in the communities it serves and enjoys a good image in the minds of consumers, it faces steep competition in the Dayton marketplace. Many national bank players and various community financial institutions are all vying for market share.
When partnering with MarketMatch, River Valley identified as top priorities growth in membership, as well as checking and deposits. To accomplish this goal, both River Valley and MarketMatch knew the credit union would require a robust digital marketing solution to effectively reach audiences and generate leads for credit union staff.
- River Valley required implementation of a holistic digital marketing program to fuel lead generation. The credit union did not have a strong digital infrastructure to begin with.
- The credit union needed to create a pipeline of leads to achieve organizational growth goals.
- After converting new members, the credit union required a means to continue engaging and marketing to members.
MarketMatch’s Digital Focus. Measurable Results. approach to digital marketing paved the way to develop a complete digital marketing strategy for River Valley. The process included researching existing infrastructure, researching back-end processes and ultimately, implementing a state-of-the-art marketing automation and email platform for the credit union. This established internal lead processes and the launch of buyer journey-focused paid advertising campaigns.
Paid advertising campaigns began utilizing Google search engine marketing, banner network advertising, and Facebook social media advertising. Eventually, video marketing was also added as pre-roll advertisements on the YouTube platform. MarketMatch launched paid advertising with two campaigns, focusing on two core products: checking accounts and certificates.
When implementing a paid advertising campaign, MarketMatch’s Digital Without Limits approach calls for a well-integrated and strategic process. The end result is the ability to accurately measure key performance Indicators and report results to our client.
This means there are several key ingredients in order to successfully implement the strategy:
- Linking the Google ads account with River Valley’s Google analytics for tracking and audience building.
- Installing the Facebook tracking pixel in the River Valley site code.
- Setting up multi-level conversion measurements that communicate back and forth with Google analytics and ads.
- Enabling Google analytics audiences and installing various audiences for remarketing and advertising reach.
To complete our holistic approach to digital marketing, when designing a digital strategy, MarketMatch creates a full lead-generation process. This means the end user is guided through the process and does not leave the visitor wondering what their next step will be. With River Valley, this meant employing the use of lead-generation forms on the digital campaign landing pages.
River Valley’s lead-generation forms are tied directly into the marketing automation platform MarketMatch implemented. The lead-generation forms feed directly into River Valley’s contact database and alert River Valley staff to new lead opportunities.
In addition to the paid advertising and lead-generation campaign, MarketMatch built trigger-based automation processes based on River Valley’s website traffic. Within the marketing automation platform, River Valley is now able to “hands-free” market to prospects and members based on their behavior. The process allows River Valley staff to market to and follow up with the members with the highest propensity to purchase.
Within the first six months of implementing River Valley Credit Union’s Digital Without Limits marketing program, we saw the following results:
- Ad impressions made:
- Over 93,000 in search engine marketing (SEM)
- Over 6.6 million in display
- Over 2.15 in social media ads
- Ad clicks achieved:
- Over 6,800 SEM clicks
- Over 44,400 display clicks
- Over 9,600 social media ad clicks
- Achieved an average click-through rate of 7.41% in SEM advertising.
- Received 517 phone calls from ads.
- 386 conversions (form completions) made on the River Valley website.
- 192 conversions (form completions) made from Google SEM ads.
- Realized an average cost of $53 per conversion.
By implementing this digital marketing program, River Valley began to experience growth on the account and deposit side that they had not seen in over 24 months. Additionally, leads that chose not to open a new account or membership with the credit union continue to receive light marketing reminders of the brand. This has created a sustainable pipeline of prospective members for the credit union.
Leads that have come to River Valley through the digital marketing process are encouraged to grow their relationship with the credit union through automated marketing. Each month, messages are sent to targeted groups of new members utilizing the automation platform.
Are You Ready?
There are many ways to approach digital marketing. At MarketMatch, we truly believe in the holistic approach of Digital Focus. Measurable Results. If your bank or credit union is ready to experience real data-driven, bottom-line enhancing results, now is the time to act!