This article, Are you ready for the Catalytic Consumer?, pits mass and conversant marketing in a battle against each other. Actually, an effective marketing effort is a combination of both.

Conversant marketing works ONLY if you have a superior product. And I believe credit unions have a superior product (in Porter’s term, if you’re familiar, it’s cost competitive). Conversant is testy in that your product must be top shelf, otherwise one unsatisfied member commands a large voice. Mass media is testy in that you get absolutely ignored – which could be worse.

That said, the two responses I get most from potential members are as follows:

1. What’s a credit union?
2. What’s different between credit unions and banks?

Conversant marketing communicates the difference between banks and credit unions. It’s this type of marketing credit unions have done since their inception (SEG business development). But it only reaches a few members or potential members at a time. In its previous form (word of mouth and direct sale) it’s inefficient.

Mass media, on the other hand, is still the gold standard in creating brand awareness. There’s a reason brands spend millions on Super Bowl advertisements. Who knew of GoDaddy.com before Super Bowl XXXIX?

Conversant marketing is inefficient. Mass media no longer works as a way to communicate product difference.

Mass media is quick. Conversant is in-depth.

A marketing campaign that incorporates the strength of both is VERY effective.

1. Use mass marketing to create awareness: “We’re a credit union. We exist.”
2. Use conversant marketing to deliver the message: “The difference between credit unions and banks: We’re better.”

Think about the fundamentals of the “cold call.” Use a cold call to generate a meeting.

Use the meeting to communicate. Mass media is the cold call. Conversant media is the meeting. Use a billboard to create awareness of your credit union and use a blog to sell your credit union.

Doug Williams is Business Development Officer for Dallas Credit Union.