CommonCents Advocate Search

A quick update on the search for CommonCents (aka MoneyWorks advocates) at FORUM Credit Union. It has been tough going finding candidates who desire to be advocates. Some of it may be the MoneyWorks concept since it is unique. We continue to look for advocates that will represent the credit union how it should be represented. I will keep you updated as we make progress.

Home Selling Featured in Fast Company

More confirmation that credit unions should be bold and explore the MoneyWorks concept can be found in the May edition of my favorite magazine, Fast Company. The piece is titled, Party On, and is written by Alyssa Danigelis (page 30 - if you don't subscribe to Fast Company - you should). Check it out.

Cashstore has a MoneyWorks feel to it

This comes from my favorite e-newsletter - Springwise.

Cashstore.fr is a French service that offers its members cash back for purchases made online, as well as a percentage of purchases made by their team members.
How it works: after signing up, members are given an @cashstore.fr email address. When they buy online from a partner store, they use this address and Cashstore.fr is able to track the amount of (extra) savings they're entitled to. Members receive a cheque in the mail as soon they've accrued EUR 30 in credit.
Cashstore.fr has over 200.000 members and works with 290 online stores, including big names like Apple, Amazon, Fnac, iTunes, lastminute.com, Le Redoute, Sephora, Skype, VirginMéga and Yoox. Savings offered range from 1% to 15%.
The above is comparable to what similar services like FatWallet do. What makes Cashtore.fr stand apart, is that it lets members form teams. Every time a team member makes a purchase, a bonus percentage is allotted to the team. This innovative twist not only adds an element of fun, but encourages every member to get their friends and family to sign up for Cashstore.fr. And more members means more shoppers means more commission for what is essentially a very clever way of cashing in on affiliate marketing.
Cash back services like Cashstore.fr can be set up anywhere in the world, and will make their founders good money from the cuts they get from every purchase, especially if the team approach is used. Everyone wins! What's not to like? ;-)

TiVo Ambassador

TiVo has announced their first TiVo ambassador. I am envious of this guy. Clever marketing idea from TiVo (my favorite technology). No doubt that TiVo will use him to tell their story. Sounds similar to what we are trying to accomplish with MoneyWorks in a way, right?

CUES Nexus Presentation

CUES Nexus Presentation

Underwear Sales @ Home?

Jockey has started a new direct selling arm of their company called Jockey Person-to-Person. They are looking for Comfort Specialists to fulfill their mission of "To Satisfy the Human Need for Comfort". Check out the website. If Jockey can do it so can credit unions.

Comedy Barn Gets It

During spring break, I took the family on a mini vacation to the Pigeon Forge - Gatlinburg area in Tennessee. Planned in advance to attend a family oriented comedy show at the Comedy Barn. Why? Because last year while in the same location I saw so many people walking around with Comedy Barn t-shirts it made me think that the show had to be good. Did some quick research on their web site and saw three things. First, family oriented show with clean comedy - count me in, Second, kids are free - count me in. Third, I can buy tickets on-line and pick my seats - save time - count me in.

Went to the show and was impressed with their marketing IQ. They personalize the entire experience - mass customization. First, they take your family's picture and then sell it to you. Done all the time right? Yet, their twist was that it comes on a keychain with one side being the picture and the other side being a permanent coupon for discounted admission to any future show you want to attend. Clever. Second, they digitally record each and every show and then offer it to you on VHS or DVD. The special thing about this is that you are guaranteed to be on the DVD. Yes, they openly interact with many audience members by including them in their comedy skits plus they have numerous cameras around their theatre where they film you laughing at the show. They pre-sell these before the show and during intermission and then of course you can buy them at the end of the show. They claim it is their best selling souvenir. I tend to believe them based on the lines I saw buying the DVD. Third, the t-shirt comes at a low price of $9.99 with the condition that you wear it at least once during your stay in the area. You see, the Comedy Barn employees understand the power of word of mouth marketing. I would say it is working for them as nearly every show they do is sold out.

Credit unions can learn a lot from the Comedy Barn. It is so cool to see simple, honest, and personal marketing efforts work.

Unique Marketing | Positioning

Been traveling the last couple of days and found two unique marketing or positioning situations. First, while sitting at the Indianapolis airport I glance over and see a power outlet. A long tall sticker surrounds the power outlet and then stretches upward to about five feet. The sticker says, "This power outlet works so you can too - Chase Bank". Wow, the power outlets are sponsored by Chase? It caught my eye.

Then while in Pinellas Park Wal-Mart. According to locals this is the busiest Wal-Mart in the United States. I was there around 8:00pm on a Friday night and it was full of activity. Well, I couldn't find the Tampa Bay Devils Ray jersey (for my son) I had been looking for all over Tampa (I know they are a dismal team but you would think they would want to sell some merchandise), however I spotted two things that made me go hmmmm. First, at the checkout counter you could order your McDonalds value meal and then go right over to the McDonalds and pick up your food. They don't want you to wait in two lines and trust me I had to wait in line to make my purchase. The value meals are posted at the register making it simple. Clever. Second, Achieva Credit Union had a branch in the store. I went over and introduced myself and got a warm greeting. The branch had three credit union mates working and they were in casual attire - it fits the store and I thought it was a good touch. They are open until 8pm Monday through Friday. I didn't check the other hours - sorry. The branch had three ATMs and one of the staff was walking a member through their ATM transaction. The employees report the in-store branch has been a success. Didn't have much time to chat as they were closing down.

Helping Communities and Growing Members

Alterna Savings, a Canadian credit union, has a community mortgage program that has similar traits to the MoneyWorks concept. The name of the program is Community Mortgage Builder Program. The tag line for the program is that it helps non-profit groups who rely on fund-raising as part of their income stream. While browsing their web site I must say I like their one sentence company description - "With a proud tradition, Alterna Savings is the financial services alternative where people and communities come first."