Before the end of September, retailers were putting out Christmas decorations. As the debate about when it’s “appropriate” to start shopping and planning for the holiday season rages, it feels worse than normal this year, and there’s a reason for that. Tons of news outlets and retailers are echoing the same sentiment: shop early this year, as the last 18 months have caused supply shortages in many industries. Here are some ways to increase member engagement this holiday season, and you should start doing them right now.
Gift cards and cash are at the top of many people’s lists this year. Financial hardships still abound as we try to combat the global effects of the coronavirus pandemic, from supply shortages to labor shortages and more.
Prepaid cards can also be used to help your members budget for their holiday spending. They can be used in-store and online, and they can mitigate risk for users because they aren’t tied to any specific bank accounts. With more and more online scammers building websites that trick and mislead customers, the holiday season will likely see its fair share of digital fraud and theft.
The convenience and cybersecurity benefits of prepaid cards are undeniable. It’s a great way help your member start their Christmas shopping off right.
Highlight Community Outreach
Giving is a big part of the holiday season, and your credit union should take advantage of that to showcase what your branches are doing to give back to your communities.
Use your social media platforms, onsite displays, and more to bring attention to the work your credit union does to take care of the families and friends in the area. You can do this by highlighting your 2021 efforts or creating new opportunities for community outreach before and during the holidays themselves. Take up specific causes, and make sure you are vocal about them online.
Promote Employee Holiday Cheer
Don’t forget about your staff! The best way to get your members in the holiday spirit is to show the cheer your employees have.
Take a look at your usual events and ideas. Instead of allowing your staff to dress in their holiday best for one day, you can run a fun “contest” every Friday – invite your staff to get creative with holiday themes using their wardrobes, then post the top picks on social media and have your followers vote on the one with the best “holiday spirit.” That employee could win something small like a free lunch or gift card to a local business.
There are tons of ways to highlight the holidays for more than just a week or two!
Another way to generate member engagement and community outreach is by holding giveaways before and during the different holidays. Bolster community ties by partnering with a different business every week or every holiday. Your members will discover new community gems they weren’t familiar with, and they’ll see that your business is committed to helping bring success to all area businesses. You could offer this to current business-facing credit union members first or create a Business Spotlight program that runs through the holiday season and brings attention to area businesses that do their banking with you.
Offer Holiday-Edition Financial Management Classes
86% of millennials overspend during the holidays – and that sets them back in the new year and beyond. You could help ease these burdens by offering some financial education opportunities that are specifically tailored to learning how to budget for the holidays, shopping tips, or even financial safety tips (how to tell if a retail website is “legit,” and other helpful topics). Member engagement can come from many places, and showing that you care about the financial health of your members – especially during this time of the year when money is flowing in unusual ways – can help them see that your brand is helpful and genuine in its efforts.
Have Yourself a Credit Union Christmas – Without Data Problems
IMS offers data backup and disaster recovery solutions – the holidays are the last time of the year when you want to have data problems. Our backup services are all-inclusive, to help you get back to taking care of your members during what is sure to be an interesting and uniquely challenging holiday season.
Contact IMS for more information.