The Giving Season is Here!
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The Giving Season is Here!
Year end is a very important time for nonprofits and the people who give to them. Nonprofits typically use this “Giving Season” to launch their final fundraising campaign of the year. We know that about a third of total charitable giving happens in December. Why is that important to a credit union?
Do you know what charities or causes your members care about? There’s an easy way to find out and then build corresponding give-back programs in your community. NetGiver is a powerful platform that helps credit unions partner with local nonprofits to increase member engagement and retention. Giving your members an opportunity to donate safely and securely to their favorite causes amplifies your impact in the communities you (and they) serve.
Let’s talk a bit about cause-driven marketing. It’s not new but you may be surprised at some of the companies that use it to increase revenue while building on their philanthropic values. One of the biggest ones is Tom’s Shoes – they’ve been around a long time and donate a pair of shoes for every pair they sell. A newer one is Bombas Socks, one of the most successful Shark Tank competitors, which donates socks (of course!) to people experiencing homelessness. A few others that are more in the “sleeper” category – less known for philanthropy but still very effective – Patagonia and Thrift Books. You’ll find many more companies highlighting their philanthropy as consumers starting to demand products from companies that share their values.
A study by Washington University and Vrity found that 54 percent of consumers believe companies, both public and private, should take a stand on issues, even if they disagree with that stance. They also found that 82 percent of donors give more when their values are similar; in fact, nearly half of that group will give twice as much to organizations that align with their personal values.
“Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” Larry Fink (CEO Blackrock), 2018 Annual CEO Letter.
Why is this important?
People make decisions based on how they feel, whether they like to admit it or not. Classic example: Girl Scout Cookies! When the Scouts come to your door with a smile and their plea, do you ask them about the nutritional value of their product? No! You sign up for the Thin Mints® and the Do-si-dos® because you want to support their cause (and the cookies are good)!
But, if you’re more of a “hard facts” kind of person, chew on this:
According to Harvard professor Gerald Zaltman, “95% of our purchase decision-making takes place in the subconscious mind.” Emotions drive purchasing behavior, and decision-making in general.
According to Douglas Van Praet, author of the book, Unconscious Branding: How Neuroscience Can Empower (and Inspire) Marketing, “We don’t even think our way to logical solutions. We feel our way to reason. Our emotions are the substrate, the base layer of neural circuitry underpinning even rational deliberation. Emotions don’t hinder decisions. They constitute the foundations on which they’re made!”.
Let’s talk about the unique position a Credit Union holds in the community:
The central goal of a cooperative is to place service and benefit to members above all else.
Credit union members are at the top of your list of priorities and serving them is your most important goal. They are the reason you exist! It seems that demonstrating value alignment with members is one of the best ways to show them why they should do business with you. Even more so, showing them how and why you value them provides a tangible connection in the community.
Consumers (generally) know that credit unions offer lower interest rates on things like automobile loans. The industry is good at marketing that aspect of membership in a financial cooperative. But it can’t be your only claim to fame. You’re different from other financial institutions and your members choose to do business with you because of those fundamental principles. They’re not just members, they’re member-owners with more than a financial stake in the organization. This unique value proposition gives credit unions the privilege of leading value-driven philosophies in the community.
Give-Back in Giving Season
As a key tenet of the credit union principles, community engagement is a great way to be visible to members because members know your employees and see them at the hockey rink, a recital, and the supermarket.
They also see your logo on the soccer jerseys or the picture in your newsletter announcing this year’s scholarship recipients. That’s great! People feel good when they know their credit union is participating in the community with financial support. People also feel good when they make contributions to their favorite charity. Imagine how the “good feels” would grow if those two concepts came together!
NetGiver provides a charitable giving platform to connect your generous members and their preferred causes with your credit union. Our platform is an easy way to engage members in your give-back program and remind them of your charter to be a role model in the local financial services landscape. With online giving increasing by 42 percent over the past three years, we believe NetGiver is a valuable member-retention tool and sets you apart from all the banks on the block. Prospective members will see it as a differentiator in the marketplace.
With Netgiver, you can promote your brand and your reputation, and expand your reach in the community. NetGiver is safe and secure and your members will thank you for it
Reach out now and schedule a conversation to learn more about maximizing the Giving Season with NetGiver for Credit Unions