This week, the ThoughtFarmer team took a road trip to Kelowna, BC for the annual Marketing Association for Credit Unions (MACU) conference.
ThoughtFarmer has many credit unions as clients, including conference attendees Noventis, Central 1, and Assiniboine Credit Union (read their case study). Credit unions tend to have collaborative and engaged employees, so they see intranets as a strategic imperative and they do amazing things with ThoughtFarmer! Plus, the conference is a great opportunity for us to learn more about our clients’ industry and connect with credit unions.
The main conference event was the 25th annual AIME Gala celebration. Credit union’s were recognized for their excellent marketing campaigns. We were lucky enough to see some of the entries, including this funny series from Northern Credit Union, who won best in show:
There were a lot of inspirational speakers over the two-day conference, particularly Andrew Davis, founder of Monumental Shift. Davis educated us on the loyalty loop and advised credit unions on what they can do to differentiate the experiences they provide to their devoted member base.
An interesting tidbit he provided was shifting the way you perceive your brand from Ptolemaic to Galilean. For a quick astronomy refresher, Claudius Ptolemy was a Greek astrologer who theorized that the Earth was the centre of the universe. Galileo debunked this theory when he discovered that the Earth, was in fact, not the centre of the universe.
For us marketers, the point is that our brand is not the centre of the customer’s universe either. Instead, customers experience our brand as one component of an entire omni-channel adventure, and that we need to consider and plan for what these different experiences look like.
He also provided us with four simple secrets to owning the loyalty loop:
- Get rich by targeting a niche (apparently if you’re American, this is a clever rhyme, as it’s pronounced “nitch”)
- Harness consumer momentum
- Heighten anticipation
- Remove friction
We had a lot of fun and look forward to reuniting with our credit union friends at the next MACU conference.
ThoughtFarmer works with many credit unions to improve communication, collaboration, and culture. Learn how.