The Business Member Spotlight initiative was designed to showcase existing business members during Small Business month in October. Having recently merged on January 1, 2020 with Westminster Savings Credit Union, the original focus in 2020 was around integration and re-branding; however with the COVID-19 global pandemic sweeping the Nation, the Marketing team recognized a need to support our business members more than ever. As a result of the COVID-19 pandemic the organizational focus shifted from a growth and acquisition model to retention and member support during these unprecedented times.
In late Q3 2020, the Marketing team began designing and planning the Business Member Spotlight initiative and engaged with our video production company, Time Frame. Once the overarching theme, messaging and creative were identified the team worked with our Business Advisors to identify a list of business members that would be prime candidates.
The target audience for this initiative was existing business member, other business owners within our trade areas (Metro Vancouver, Fraser Valley, and the Okanagan) and people living in our communities that shop local and support local. The primary goal was to provide free advertising during “Small Business Month” to a select few business members to increase member loyalty by highlighting their business first and Prospera’s business offerings and advisors second.
As the focus was around retention and awareness, successful conversion looked like: increased engagement longer visits, more pages viewed per visit and web traffic to prospera.ca as well as increased social engagement for our featured business members. During the campaign, we saw an increase of 332% in page views to prospera.ca/business and a 705% increase in page views to the Prospera Blog compared to the previous period. In total, the videos had over 1.3 million views with a 39% completion rate and drove over 10,000 clicks to the prosper.ca/business site.
The results of this initiative exceeded our expectations from a performance standpoint and even generated some new business members as a biproduct. Many of our business members have since reached out to inquire about being featured in future videos which are already in development for 2021 under the new Prospera Brand. These videos represent the value of being a member at Prospera while also promoting our local business owners.
Please note that when this campaign launched, the new Prospera brand was not ready. These videos featured our legacy branding and have since been re-branded under the new brand (Local Banking Means More).