Money Mom Marketing Program
Money Mom marries a winning combination of integrated marketing and content strategy with a local voice and relevant products
Based on our award-winning Young & Free marketing program, Money Mom finds a local mom to be the voice of your credit union. Her job is to connect on- and off-line with the local community to raise awareness and affinity for your credit union.
The problem
Women make roughly 89%* of the financial decisions in their families, so why isn't your credit union more mom friendly? Stay-at-home moms, working moms, single moms – no matter what the situation is, the fact is, credit unions are failing to give moms the attention they deserve.
The disconnect
Strategy and positioning come from the top and since the majority of credit union CEOs are male, it's no wonder that most credit unions have a decidely male approach to product development, branding and marketing. Meanwhile moms are making most of the financial decisions.
The opportunity
Since almost every bank and credit union is turning a blind eye to moms, savvy credit unions that consciously build their brand and products to appeal to moms have an unbelievable opportunity to differentiate themselves in an otherwise homogenous marketplace.
“I’ve said this before, I’ll say it over and over: You cannot advertise your way to trust. It has to be experienced. Verity Mom gives moms the opportunity to experience Verity, and that builds trust and authenticity.”
The solution
A fresh approach, a flexible platform, unlimited possibilities. With Money Mom, your credit union has the potential to attract the entire family unit and significantly lower your average age of membership.
A customized sub-brand approach
We start by developing a unique name and supporting brand identity system for each program. The brand is built to appeal to moms and to work with your credit union's established brand. The combination is both powerful and memorable.
“We wanted to capture the hearts and minds of the next generation. The best way to do that is by pleasing their moms. Moms make most of the spending decisions in a family and they hold the most influence over where their children will eventually do their banking. We look at this as a multi-generational strategy.”
A market-leading product offer
A key to success for all of our partner credit unions is offering compelling products and services that are better than anything else being offered locally. We help name the product and we also work with our partner credit unions to develop a share-of-wallet strategy and product bundling options that work with the credit union's existing electronic capabilities.
An integrated web presence
Each Money Mom program is showcased on our website platform that has a proven combination of design, messaging, navigation and participatory tools to attract applicants and visitors and to keep them involved.
Prior to launch, we write all of the web copy, setup profiles and pages on major social web services and film and produce a launch video starring your CEO. It doesn't stop there—once the web presence is launched, we are constantly producing content and interacting with a rapidly growing audience.
Bundled with FamZoo – an awesome virtual family credit union
We've partnered with FamZoo to give your Money Mom a great tool to feature and promote.
With Money Mom, your credit union gets a a co-branded version of the FamZoo application infused with your credit union and Money Mom brands and your targeted content – ads, special offers, social media streams, educational material and your latest videos.
FamZoo is a family friendly web application that helps parents teach children the practical skills they’ll need to thrive in the real world. There’s a huge educational gap between the piggy bank and the commercial checking account.
The piggy bank is a good first start for the very young, but it quickly runs out of steam as an educational tool. On the
opposite end of the spectrum, the traditional checking account is designed for adults and presumes considerable amounts of knowledge and maturity. Mistakes can be costly and carry lasting implications.
To learn the financial ropes, kids need something in between: a solution that teaches progressively more sophisticated personal finance skills through real experiences without onerous punishment for the inevitable failures.
Mistakes must be considered an opportunity for learning, not profit. Also, since money and values are so deeply intertwined, kids need to work closely with their parents. But parents are insanely busy, so the solution must be quick to set up and painless to maintain. What’s the answer? FamZoo’s “virtual family credit union.”
A full-out search for a family voice
The Money Mom job is a great opportunity for a charismatic and talented mom. The winner gets the Money Mom title for a year with a great salary and gear. The part-time job involves blogging two to three times per week, creating a fresh video every week, connecting on Twitter and Facebook and representing the credit union at local events. It really is an awesome job for an outgoing, talented, plugged in mom.
The goal is to make as big a noise as possible in the local marketplace both on- and off-line. We want as many members of the mom crowd to know about the Money Mom search and about your new product offer.
To do this, we create and execute a custom integrated media plan. We incorporate your existing media relationships and we support your local public relations professionals. Our integrated marketing approach and reach into the social media world through a proven online media plan works extremely well.
Gather around the online kitchen table
We encourage all of our applicants to run aggressive campaigns to make themselves stand out and to help spread the word.
The applicants drive a ton of traffic to the Money Mom sites. Pictured above are pieces from Danielle Gahl's winning campaign to become the Verity Mom. Beyond the required video and blog post, applicants are constantly tweeting, most create Facebook fan pages and many go above and beyond by creating posters and extra YouTube videos!
This is where the real word-of-mouth power kicks in –multiply Danielle by dozens of moms spreading the news about our partner credit unions and you get the picture!
What's Mom thinking?
Each of our selected finalists are given the task of creating a video that seeks to answer the question, "What are some hidden treasures in your area?" These two-minute videos give us a glimpse at how the finalists interact as well as offer up some great info. Here is one of our favorites.
The search is just the beginning
With the momentum rolling and the Money Mom in place, it is just the beginning. For the next year, your Money Mom is in charge of building a community of like-minded moms interested in coming to grips with their finances. Social networking, blogging, making videos and attending events all the while promoting your credit union and your products and services.
Interested? Let's talk Money Mom
All regions are exclusive and are licensed on a first-come, first-served basis. We will not license Money Mom to banks.
First come, first served
One exclusive license will be granted in each region. For Money Mom, regions are defined geographically by the credit union's trade area. The first qualifying credit union in each region to sign an agreement will secure regional rights to the program.
Is your your credit union ready?
Your CEO, VP Marketing, executive and board must fully believe that attracting the next generation of credit union members is critical. Everyone must also believe that Money Mom is a fit for your credit union.
Your product
We believe very strongly that your accompanying checking product must have at least two appealing differentiators compared to your competitor's best checking account. We know products that aren't different from the competition don't attract new members.
Fill out this short form and we'll get back to you with more information about the Money Mom Marketing Program, including costs.