In this podcast episode from FI GROW Solutions, CEO Meredith Olmstead and Senior Vice President of Marketing Nida Ajaz discuss the comparative effectiveness of contests versus surveys for engaging clients. They share results from a recent test involving the same audience and prize but with different formats: a simple contest and a more detailed survey. The results highlight how surveys can significantly enhance engagement over contests by providing value through participants' opinions.

Key Takeaways:

• Effectiveness of Surveys Over Contests: Surveys tend to engage a larger number of participants compared to contests, even when both are offered to the same audience with the same rewards.
• Strategic Integration of Marketing Insights: The data collected from surveys can be strategically used for more than just engagement. It provides valuable insights into the customer base, which can aid in product development, targeted marketing, and overall improvement of services.
• Leveraging Small Incentives for Big Results: Even nominal prizes can significantly increase participation rates in surveys and contests. Highlighting these incentives effectively, such as in email subject lines, can attract more attention and participation, demonstrating that minor tweaks in marketing tactics can lead to substantially better outcomes.

In this podcast episode, Meredith Olmsted, CEO and founder of FI GROW Solutions, has a great conversation with August Mize, the brand ambassador for Carolina Trust Federal Credit Union. August discusses her journey from a communications graduate aiming for a career in journalism to becoming a brand ambassador, emphasizing the strategic shift towards influencer marketing to strengthen community connections and appeal to younger demographics. They explore the significant roles that brand ambassadors play in enhancing brand visibility, community engagement, and the overall marketing strategy of financial institutions.

Key Takeaways:

• Community Engagement: Brand ambassadors enhance the visibility and relatability of a brand within the community, leading to stronger connections with existing and potential customers.
• Targeting Younger Demographics: Using brand ambassadors, particularly in social media and community events, helps financial institutions engage with younger audiences more effectively.
• Extended Role Impact: The role of a brand ambassador goes beyond traditional marketing by embedding the brand into various community activities and digital platforms, which can significantly boost brand recognition and customer engagement over time

In this episode, Meredith Olmstead, CEO of Fi Grow Solutions, and Danielle Fancher, Director of Sales, delve into innovative strategies for enhancing sales success in banks and credit unions. They discuss the importance of prioritizing service-oriented skills over traditional sales abilities, the benefits of proactive customer engagement through CRM tools, and the crucial role of integrating marketing and sales efforts. Their insights aim to transform the way financial institutions interact with and serve their members.

Key Takeaways:

Prioritize Service Over Sales: Focus on hiring employees with a strong service orientation rather than traditional sales skills. Employees who excel in customer service and genuinely want to assist members will naturally drive more success in financial institutions.

Embrace Proactive Engagement: Utilize tools like CRM systems to understand customer interests and engage them proactively. This approach shifts the sales strategy from reactive to proactive, enhancing member satisfaction and retention.

Integrate Marketing and Sales: Strengthen the collaboration between marketing and sales teams to ensure a unified approach to member engagement. This alignment helps both teams understand and leverage each other's efforts, leading to more effective consumer targeting and improved service delivery.