Feelings of gratitude fueled by the holiday spirit have a tendency to make us all a bit more generous this time of year. Credit unions that have strategically built up a charitable outreach program often report high levels of member involvement during the giving season.
Designing such a program often takes years, but it is worth the investment. That’s because several influential consumer segments insist on doing business with organizations that support the causes and charities important to them. Employees, too, tend to choose and stay longer with organizations that share their personal values.
If building a stronger charitable outreach program is on your list of to-dos for 2017, consider these five tips for success.
Be Pertinent
Identify a charity or fellow non-profit organization that is relevant to members and employees. Perhaps your constituency is made up of a large number of educators. Supporting a continuing education program for teachers or school administrators may be the ideal initiative for your cooperative.
Talk Results
When crafting your primary messages, focus on how the charity or organization you’ve chosen is helping the community. By emphasizing what the group does rather than what it is, you’ll be better able to mobilize support. If you are partnering with a cancer-fighting hospital, for example, design your campaigns around the battle to beat the disease rather than the hospital itself. People are inspired by outcomes. According to Bright Funds, millennials especially are less interested in a nonprofit’s ideas than they are in its results.
Make It Easy
Even the most charitable among us are busy. Create an offer proposition that is simple to understand and easy to act on. In a recent study of millennials, more than half said they would be interested in making monthly donations to a nonprofit. How can you automate those donations? Challenge your teams to configure giving solutions that make it easy for your members to act on their generosity.
Stay Transparent
Be very clear about how your program will benefit the charity. If possible, explain how, when and what percentage of the funds raised will go directly to the charity. Skepticism is a big obstacle to giving, and transparency is the best cure for skepticism.
Reward Them
Don’t shy away from speaking about how members and employees can benefit, too. As long as the primary message stays attuned to the charity’s outcomes and focused on the greater good, it’s perfectly OK to provide a little extra incentive. Some credit unions, for example, have found success offering double credit card rewards to members who donate to the cooperative’s partner charity. Capital Credit Union is one of them.
This quarter, the $1.186 billion credit union executed a Spend2Give campaign. Card members earned double points while also benefiting two area homeless shelters with donations based on card usage.
“The program took the classic win-win scenario up a notch,” Capital Credit Union marketer Lisa Drace Hintz said. “The response was favorable from both a member and an employee perspective, and we were able to maximize our donations. With the community, the members and the credit union benefitting, our win-win became a win-win-win.”
Patrick Baker is senior marketing specialist for TMG Financial Services. He can be reached at patrickba@tmgfinancialservices.com.
