LYNCHBURG, Va. (7/17/13)--More than 1.1 million consumers, mostly Virginians, learned more about credit unions and their benefits through a statewide awareness campaign--"QuitThe Hit"--created and funded by Virginia credit unions.
The "QuitTheHit" Social Media Campaign was launched in April to increase awareness and drive consumers to learn about the benefits of membership in Virginia-based credit unions. A humorous video was produced and shared through YouTube to reach those in Virginia ages 18 to 35. The video encouraged them to visit the campaign's informational website. Use the link to access the website and video.
"This was an unconventional and bold strategy for credit unions in Virginia, and we set the bar high expecting to reach at least one million consumers," said Rick Pillow, president of the Virginia Credit Union League. "We relied on consumer research and designed an edgy, humorous campaign leveraging the power of social media to help reach that goal. Thanks to our credit unions' commitment to promoting this campaign, we surpassed our goal and reached more than 1.1 million consumers."
More than 66,000 consumers visited the informational website, via the video, and more than 25,000 used the "search for a credit union" feature.
The league conducted consumer research to determine the strategy and message of the campaign. It learned consumers feel they are taking a "hit" from the economy and are suffering the impact of higher prices and rising fees. The creative team took the idea of feeling hit to a literal level and designed a video featuring a George Washington character, who represents money, physically taunting the main character who represents the consumer (News Now April 12).
Awareness of Virginia credit unions was already high at 78%, according the league. However, the campaign successfully reduced the "fog" of uncertainty surrounding credit union membership, with fewer consumers now saying credit unions are not a viable financial services option, said the league.
Post-campaign research and tracking revealed that percentage of consumers who have lower rates and fees as "top of mind" when they think of credit unions doubled--to 8% from 4%. Following the campaign, more consumers (61%, up from 56%) said they want to find out more information about credit unions and their benefits, according to independent research.
Virginia-based credit unions have a membership of more than 7.9 million, as of March 31. However, only an estimated three million of that number reside in Virginia. Many Virginia-based credit unions--especially those affiliated with the government and military--serve members nationwide, and in some cases, worldwide.