Edge’s Other Side Notes

"…the coronavirus has now clearly made remote banking the preferred choice. All demographics, not just younger generations, are wary about going back to physical branches even as they begin to reopen, with as many as 49% of consumers indicating they would avoid taking a loan out if it required a physical visit to a financial institution."

EDGE NOTE: We've seen our client's online traffic come down from historic peaks in the stay-at-home spring months, but as it came down it settled on much loftier plateaus than where it was a year ago. Indicating, as Komorov says in his article, "Concerns around safety drove everyone to bank online at the height of the pandemic. Newly discovered convenience will keep them online."

How the 'Great Comeback' Will Be a Time for Credit Unions to Shine by Gilad Komorov, Chief Revenue Officer at Lightico.

Caroline Platkiewicz writes that "there is a gap in knowledge for most credit unions as to what their members really want to know right now." In addition to surfacing answers to classic FAQs like "What is your routing number?", she offers up a super-helpful checklist of the new questions all CU websites should be making it easy for their members to get answers to, such as:

1) New Hours and Locations of Operations

2) Health and Safety Protocols

3) Transitioning to Remote Banking

Check out Caroline's post for the full list.

EDGE NOTE: We can help modify your website so it better answers your member's questions and serves their needs. If you'd like help improving your CU's digital branch, we're just a few clicks away. Get in touch.

The Importance of Member Support by Caroline Platkiewicz, senior marketing manger for SilverCloud.

"Large-scale events are one tool credit unions use to connect with their communities. Is it possible to continue to engage with communities and make a positive impact, while following state and local guidelines?"

EDGE NOTE: As we examine how other organizations are adapting their events, and consult our own clients our main takeaway has been that it can be done and sometimes with even greater affect.

As McHugh points out in her article, the first step is to "identify the key elements that make your event uniquely special and do your best to include them in the transition." Check out the article for more great insights gleaned from their experience.

How Royal Credit Union Took Its Annual Charity Race Virtual by Jennifer McHugh, Vice President of Community Engagement for Royal Credit Union in Eau Claire, Wis.

The best brands align what they say with what they do. Those that don’t, risk getting called out. Your content should always put into practice what your brand preaches, and now that means double checking for message consistency – in your text, visuals, and any other format you use.

EDGE NOTE: Harris has a ton of great insights regarding sensitivity and relevance in her article. A brand that is alive and well is one that is relevant to their audience and always considering their changing needs. Be sure to also read the note below from May 21st for more insights to approaching your brand's creative and messaging during a crisis.

A Quick Audit to See If Your Content Passes a COVID-19 Exam by Jodi Harris, director of editorial content and strategy at Content Marketing Institute

"80% of the ads that we saw in April were not Covid-related; they were straight-up ads,” said Tara Walpert Levy, VP of agency and media solutions at Google and YouTube.

What’s more, Covid-themed ads did not perform any better than regular ads on the site.

Although advertisers are not making many Covid-specific ads for YouTube, they’ve still tailored their messages for the moment — restaurants have pivoted to advertising about delivery, while retailers are highlighting curbside pickup, for instance.

EDGE NOTE: Covid-19 sort of turned everybody into overnight underdogs, from late night hosts at home to huge brands scaling way back on production - just trying to do what they can with what they have. And who doesn't like an underdog?

At Edge, some of our clients pivoted to Covid-themed creatives and some kept what they had going. The only ads that didn't work were the ones that didn't run at all.

Cost and competition have been way down while demand for online services rose steeply, allowing the persistent brands to capture market share at reduced costs.

YouTube exec says Covid-themed ads don’t perform any better, but ‘scrappy’ ads do by Megan Graham for CNBC.com

"In the past couple of months, we’ve spun up entirely new business models and transformed how we work with clients. We’ve learned to forego a five-page brief when a one-pager or even a simple email will do. This is an opportunity to spend more time actively working to help our clients and less time talking about it."

How to be the partner your clients deserve in times of crisis by Jared Belsky, Chief Executive Officer, 360i

"The prevalence of disabilities and impairments impacting one’s use of a computer or mobile device increases with age, so our seniors are more likely to face obstacles when websites are not coded with website accessibility in mind. This is a demographic that represents 16-percent of the United States population, including seniors."

Thanks to COVID-19, Website Accessibility Has Never Been More Important by Sean Bradley, AudioEye’s Co-founder, President, and Chief Strategy Officer

During last week’s PPC Town Hall, Navah Hopkins made a passionate case for keeping campaigns on at minimal cost. This week, Mike echoed her sentiments.

“I’m reluctant to pause campaigns, having done that in the past with bad results. If we think a client will come back in a few weeks, we’ll wind stuff down to 1-cent budgets and leave it there. We’d rather spend a little bit than pause entirely,” he said.

“Interestingly enough, some European campaigns for one of our US clients have been on these 1-cent budgets. There was some trickle of clicks coming through. Every now and then you get a sale, so the ROAS was staggering at 500x. Of course, those outliers don’t make for very pleasant reporting!”

EDGE NOTE: Our clients who either kept their campaigns running or launched new campaigns during the crisis found their ads in a landscape or reduced competition, CPC and dramatically less expensive Costs per Conversion.

PPC Town Hall #8: 7 Digital Marketing Lessons from Australia by Ashwin Balakrishnan, Content Marketing Lead at Optmyzr

"In the presence of uncertainty, people tend to seek out rituals that make them feel secure."

The psychology behind why some people won't wear masks by Scottie Andrew, CNN.com

Marisa Thalberg took over as Lowe's executive VP and chief brand and marketing officer in February. She says advertising in the midst of a pandemic is “less about being very commercial and promotional in our messaging and a lot more about how do we really express the heart of this brand.”

Lowe's New CMO On Pandemic Marketing In the Age of Social Distancing by Adriannne Pasquarelli for AdAge

"After several weeks of concerning declines in deals created and deals closed, we are cautiously optimistic about this week's data. While it's certainly too early to call these trends a "rebound," the numbers suggest that companies that had paused "business as usual" in the last seven weeks are beginning to move forward in a new normal."

Edge Note: Check out HubSpot's aggregated data from 70K+ companies around the globe to see how metrics are shifting in response to COVID-19.

After Weeks of Decline, Sales Metrics Showing Signs of Recovery [COVID-19 Benchmark Data] by Kipp Bodnar at HubSpot

"Now looking to their credit unions to reduce unnecessary stress and increase peace of mind, members highlighted three key needs: Crisis relief, answers and advice, and easy access to staff, tools and explainers."

"As this is “probably just the beginning” of a decline in financial well-being for credit union members, according to Gallup, the way members feel about their credit union now could affect how loyal they are after COVID-19 — and how they compare their credit union to competitors."

Are Credit Unions Doing Enough For Member Well-Being Amid COVID-19? by Raychel Lean for Credit Union Times

"It’s time to rewrite the rules of your measurement program and account for the evolving external factors and the possibly changing internal factors."

"Once you make this metrics analysis a regular weekly routine, you’ll find it easier to spot and react to trends to deliver the content your audience is likely to want in a way they’re likely to consume it."

Metrics Matter More During COVID-19 Than They Ever Did by Ann Gynn, Tech Tools editor for Chief Content Officer magazine 

"Chicago-based cybersecurity technology company OneSpan, provided guidance financial institutions can take to quickly digitize more of their core processes – from commercial and small business lending, to remote account opening – in order to provide the digital services people, without the ability to visit a branch, really need now due to COVID-19."

Edge Note: Click through to the article for an outline of 10 processes FIs can take digital in order to better serve their member's needs.

Digitizing Processes for At Home Credit Union Members by Roy Urrico for Credit Union Times

"It’s OK to feel like you don’t really know what you’re doing. If you didn’t feel that way, you’d be truly terrible at your job. Feeling uncertain, in uncertain times, means you have the emotional intelligence to thrive in the future. But don’t let the uncertainty paralyze you. Think like a caring human being with the resources to help millions. Then act accordingly, in the mutual interest of business and society."

Edge Note: Mawdsley goes on to remind brands, not only that the best ways to make it through this crisis through continued investments in ad presence and flexible strategies, but that being more human now and on the other side is the best longterm strategy. Be sure to click through and read his whole article.

"The data tells us people are looking for two things right now: help and comfort. If you’re able to help them to navigate the current situation, tell them about that. […] as long as you’re thinking like an empathetic human being, you can’t go wrong. Don’t be self-serving; don’t be cynical; don’t talk like an organization. Do the right thing, and keep doing it when the coronavirus situation ends."

How to lead brands through ‘the steepest learning curve of our professional lives’ by Craig Mawdsley, Joint Chief Strategy Officer, AMV BBDO for Think with Google

"Other than looking at the Institute for Health Metrics and Evaluation’s website multiple times each day to check the state-by-state projections of the coronavirus, I’ve lately spent most days checking updated regulations that have all of a sudden turned into it’s-not-that-important-anymore rules."

"This COVID-19 world has exposed nearly all of why we do what we do and why we are what we are as an industry and country. It appears all of that has been based on how good lobbyists are for banks and businesses. Who lives, who dies. What businesses are considered essential, what businesses should be closed. For instance, in Williamson County, Texas, if you run a small business, let’s say a florist shop, you are closed and considered a non-essential business. But, if you are a Mattress Firm or Bass Pro Shop, you are open for business and absolutely considered an essential business."

"Right now, our country is entirely exposed to every weakness. Find those weaknesses, fix them and apply new ideas to help everyone, and not just Mattress Firm and Bass Pro Shop."

Everything Has Been Exposed: Time to Call It Out by Michael Ogden, editor-in-chief for CUTimes.com

The flight to digital means many members are trying out certain features and services for the first time, Giorgio said. And that means more people are reaching out for guidance and support as they learn.

“I think the automation that we’re kind of forcing them to really get to know — the simplified ways of paying, or the ways that they’re going to be learning these new experiences — I think that’s going to naturally extend as we go back to normal.”

4 Things Credit Unions Should Do Now to Help New Digital Users by Tina Orem for CUTimes.com

World Wrestling Entertainment owner Vince McMahon was named Tuesday evening to one of 17 Trump Administration task forces that is supposed to help re-open the economy. […] So was Walt Ehmer, president of Waffle House.

But not one credit union representative appeared among the 220 members of the “Great American Economic Revival Industry Groups.”

Trump Administration's 17 Economic Recovery Task Forces Have No Credit Union Representatives by David Baumann for CUTimes.com

Machines can’t provide context to what’s happening; agencies can — and must.

For those brands that can keep spending a certain amount, there’s a lot that agencies can do to help. […] After all, while consumer sentiment is cautious, people are spending up to 30% more shopping online according to this article “COVID-Consumers: Pessimistic, but spending more online” by Search Engine Land.

5 Things PPC Agencies Need to Do to Survive the COVID Crisis by Ashwin Balakrishan, Content marketing lead at Optmyzr 

Repurposed footage, solos shoots, Zoom backgrounds and leaning into the joys of home all make an appearance in the top 10. Sound familiar? “If brands can give people a lift in these anxiety-ridden times, it could work in their favor, but they need to tread carefully. Images of happy families in close quarters may not sit well with those who are alone and isolated,” Jardine writes. “A fast feeder telling people to eat junk food while stuck to the couch may not be the best idea when obesity is thought to contribute to coronavirus complications.”

10 Creative Trends In the Time of the Coronavirus by Alexandra Jardine for Ad Age

"The problem for marketers is how to build human connections with customers. That’s where you need to focus more on empathy. The empathy that comes naturally with person-to-person interactions must be purposefully sought in online marketing."

"Despite all the innovations in information technology, humans haven’t fundamentally changed. We still value relationships and appreciate connecting with others. Remember how important the human dimension is. It’s something we easily miss in our fast-paced digital world."

Why Marketing Needs More Empathy by Teodora Gavrilut, Marketing Manager at Bannersnack

"As the scale and severity of the pandemic became clear, we realized that we had to revise our 2020 plans and shift priorities and resources. We went through a “stop, start, continue” exercise: Stop anything that wasn’t mission critical; start any COVID-19 related work; and continue any crucial work as normal."

"As the situation continues to evolve, we, like many of you, are striving to find ways to be helpful. We know that brands have a role to play. But now is not the time for self-promotion or upselling. Our guiding light in all this is to ensure we’re addressing the needs of our users. And we’ve shifted our campaigns accordingly."

"Yes, in the short term, much of what we’re doing may not immediately impact the bottom line. But the foundation we’re shoring up and building upon will ensure we continue to drive responsible and sustainable growth in the long run."

Inside Google Marketing: Agility is the new growth by Matthieu Pellerin, founder and head of Google’s Growth Lab

Wordstream monitors PPC performance across tens of thousands of advertisers and noted this shift in how COVID-19 has affected Google Ad results within the finance industry.

Chart Source: https://www.wordstream.com/blog/ws/2020/03/18/covid-19-google-ads-data

“There is strong evidence that current interventions have significantly reduced the burden of COVID-19 in Oregon,” says the latest report from the Institute for Disease Modeling and released on Saturday by the Oregon Health Authority.

With current interventions, the total number of required inpatient beds will remain constant or begin to decrease by May 18th.

“At this stage, any relaxation of current aggressive control measures is likely to result in epidemic resurgence,” the report says.

The latest projections are based on “the best available evidence as of April 10th” and considered preliminary and subject to change as more data become available, IDM says.

'Strong evidence' that interventions have 'significantly reduced' COVID-19 in Oregon by Elizabeth Hayes, Staff Reporter for Portland Business Journal

From March 8, 2020, to March 14, 2020, search behavior on Google for “financial help” grew 203% over one week. […} In fact, during the week from March 8, 2020, to March 14, 2020, Google searches for apps in the Finance category grew 31%.

Even in this challenging time, it’s possible for brands to engage with consumers in ways that are relevant and helpful, and that don’t come across as tone deaf or self-serving. Helping to build people’s confidence and alleviate concerns about their financial security amid uncertainty is one of the most important things financial service brands can do right now.

The question finance brands should ask themselves isn’t whether to show up for consumers, but how to do so in ways that address their most pressing questions and concerns.

…working individually with customers to find solutions tailored to their specific circumstances.

How consumers navigate financial wellness in a time of uncertainty by Stephen Arthur & Mike Henry, Financial Services Industry Directors, Google

The CUNA report cited research from the Memphis, Tenn., consulting firm Strategic Resource Management, Inc., that 79% of the banks and credit unions it surveyed March 17-25 “have provided more education on the use of remote channels as a means of weathering the crisis, and 82% rated their online and mobile channels as ‘vital’ to operations during the pandemic.”

Expect Major Shifts In Habits In a Post Coronavirus World by Jim DuPessis

“Our mission is to advance the lives of people from a place of financial need to a life of ownership and giving back to our communities. Our mission compels us to respond to the crisis with courage. We want to help people remain on their feet and have money to spend in our communities.”

His CU is also "making compassion calls to elderly members for wellness checks and to help them obtain groceries and household essentials."

CUs Step Up in Big Ways to Support Employees, Members During Coronavirus Crisis by Peter Strozniak for CU Times

Many budgets were cut during past financial crises, and some companies are doing that now. But is cutting back on spending the smart thing to do? Studies show that companies that protect marketing budgets during recessions tend to do much better in the ensuing recovery period. Examples of companies innovating and leaning in during downturns are easy to find, including brands such as Toyota, Staples and Target.

IGNORE SHORT-TERM PANIC TO RECESSION-PROOF YOUR BRAND by Nancy Smith, founder of Analytic Partners for Ad Age

The top consideration for many marketers as the implications of coronavirus became clearer has been budget. But there’s a real opportunity for those that focus on messaging during this time.

Be sure your ad copy reflects how your company is responding to this new environment. Clearly communicate empathy for your customers’ current situation.

Paid search ad copy strategies during coronavirus by Ginny Marvin, Third Door Media Editor-in-Chief and Search Engine Land Contributor

If your business is able to continue spending marketing dollars, we encourage you to plan initiatives that support healthcare professionals, frontline workers, and vulnerable people. Be mindful of the words and images you select for blog posts, landing pages, search and display ads, and e-commerce listings.

If you’re experiencing a lull, leverage the downtime to improve your relationships with internal and external stakeholders. Reconnect with your employees, build backup plans for the brands you nurture, and develop flexible processes to quickly scale up to usual levels of spend when the storm passes.

PPC During COVID-19: 5 Ways to Optimize Your Search Ads by Ashwin Balakrishnan, content marketing lead at Optmyzr

As Iowa suspends the requirement for a notary to be physically present for signing real estate documents the "West Des Moines-based CUSO LenderClose is providing the technology, called remote online notarization (RON). It uses audio-video technology to share documents electronically, confirm identity and conduct the signing and notary process in a face-to-face, virtual environment."

"Our members expect us to live out our values, one of which is that our members matter more than their money. It’s our intention to always consider the person behind the transaction and that is precisely what LenderClose helped us achieve today. We look forward to scaling this out to the rest of our borrower membership over the next several weeks and months."  -Collins Community Credit Union President/CEO Stefanie Rupert

Remote Online Notarizations for Credit Unions Launch in Iowa by Tina Orem for Credit Union Times

"The more helpful brands can be, the better they’ll fare now — and even more importantly, in the long run. Eighty-four percent of U.S. consumers surveyed say that how companies or brands act during the current market is important to their loyalty moving forward. These are trying times, but we’ll all get through it together and hopefully come out even stronger on the other side."

Google search data reveals how brands can help during the coronavirus pandemic by Tara Walpert Levy for Think with Google

People are more likely to purchase something from a company during and after the coronavirus crisis if that company speaks out appropriately about the pandemic now, according to a new survey from Edelman.

The big picture: Data shows that consumers overwhelmingly want brands to speak out regularly during the pandemic, but that they don't want to be sold anything that isn't going to help make the situation better.

Brands risk losing business if they don't properly address coronavirus by Sara Fischer at Axios

"What does this mean for brands? It means that they just got a new competitor from a tertiary category: community. How brands choose to use that information is up to them, but my recommendation is that they embrace and react to what consumers will be asking themselves: Why am I spending this dollar? Who am I spending it with? And, what greater good will it serve? It is my belief that only then will any loyalty be gained in this new dawn of consumerism."

COVID-19 Will Change Consumerism Forever, Opinion Piece by Lyndsey Fox for Ad Age

"Perhaps more than ever, PPC pros must make sure brands and organizations are present when people are searching. And let’s face it…we’ll undoubtedly have a LOT more searching going on via Google and Bing” in the coming weeks as consumers adjust their lives. And as people go deeper into social distancing, we’ll see even more searching on Amazon to further replace brick-and-mortar shopping."

"While businesses often knee-jerk their budgets down in times of uncertainty, now may very well be the best time to up the spend on PPC. Social distancing means more people will buy online. It’s essential and responsible to be sure to capture the surge in online shopping."

Five Things PPC Pros Can Do NOW to Keep Commerce Moving In The COVID-19 Era by FREDERICK VALLAEYS of Optmyzr