Some may argue a credit union’s web site is its livelihood. The better the site, the better the credit union performance. A simple look at the success of ING Direct shows that simplistic consumer-friendly sites can help grow the core credit union business.
Not surprisingly, a recent Forrester Research study found 42% of consumers prefer the online channel when researching a product. A member visiting a credit union’s web site and looking at product information pages or using educational calculators is similar to a member standing in your branch saying “Help me!” Today, most credit unions are able to provide service to the member in the branch and close that sale. The challenge is how to provide the same service and close with the online member.
The Online Marketing Process
Many credit unions set-up their web sites with the assumption the sales cycle is: Interest > Sale. This is similar to having a 1st date then getting married. The chart below compares the financial services sales cycle with the marriage process.