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Consider partnering with a third-party resource to help determine your CU’s needs.
Does your credit union want an all-in-one marketing solution, such as HubSpot, which can coordinate web, email and customer relationship management efforts as well as providing marketing automation? Or do you need to bridge the technology you already have? Salesforce, for example, provides the CRM and marketing automation; Marketo supplies the marketing automation only, and Adobe Campaign and Sitecore manage content and campaigns. All have strengths and are reputable, vetted products, says James Robert Lay, founder and president of CUES supplier member Digital Growth Institute, Houston.
An all-in-one product is a popular choice for smaller or mid-sized CUs, he adds. “Most are perfectly capable when used correctly and to capacity,” says Lay, noting that few CUs need to employ an enterprise solution such as the Oracle, Salesforce or Adobe marketing cloud platforms, which can be complex and often include more tools and features than can truly be utilized.
Lay sees larger CUs blending technologies through application program interfaces, which allow two technologies to communicate. “HubSpot, for example, can integrate with third-party vendors or directly into the core.” But if you’re unsure, Lay advises finding a third-party who can assist with the technology research and implementation.
“Companies like Salesforce or HubSpot will sell you their great products but typically don’t have support staff with financial services expertise to adapt the software to your needs,” notes Lay. “Consider seeking a third-party resource for help. And while marketing technology has numerous benefits, the last thing you want is expensive software sitting on a shelf.”
Lisa Nicholas, president of Digital Banking Services, a credit union service organization of $1.4 billion Credit Union of Texas, Dallas, agrees. “Don’t tackle the process alone,” she says. “Look to collaborate with partners who understand the financial industry and technology. Seek out third-party expertise to help connect your data and systems.”
Stephanie Schwenn Sebring established and managed the marketing departments for three CUs before launching her business. As owner of Fab Prose & Professional Writing, she assists credit unions, industry suppliers and any company wanting great content and a clear brand voice. Follow her on Twitter@fabprose.
