Early observations from mid-October to mid-November show that the targeted digital consumer-messaging impressions from credit unions’ “Open Your Eyes” Awareness Initiative in California is exceeding original benchmarks and outpacing national averages.

Since launching in California, more sessions on YourMoneyFurther.com have originated from the state than any other state where credit unions are participating in the nationwide campaign, according to the Credit Union National Association (CUNA).

The campaign is spearheaded by CUNA with assistance from the California Credit Union League and a steering committee of local credit union senior marketing executives. So far:

• The California campaign’s “fully completed” social media video rate — the rate at which consumers watched a video to completion — is one of the highest seen among participating states since “Open Your Eyes” launched in January of 2019.
  
  
• Additionally, more than 85,000 web “sessions” (extended website visits) were logged in California during mid-October to mid-November, as well as 180,000 individual pageviews. About 2.12 pages were seen per web session, with an average time of 32 seconds on each page.
  
  
• The California campaign has also experienced nearly 24 million advertising “impressions,” 10 million completed video views, nearly 1.5 million “eyes opened,” on social media, and more than 4 million “eyes opened” on YouTube videos.
  
  

Initial campaign research has found that top-of-mind consideration for credit unions in California is low among consumers, similar to national data. Less than 2-in-10 Californians say they would consider a credit union for a loan or checking and savings account.

Going forward, consumer engagement though the campaign’s digital advertisements will closely be monitored through the holiday season and into early 2020. Two audiences have emerged in this initial first phase: "unsettled beginners" who are ages 25 – 34; and "future thinkers" who are ages 35 - 54 (many of whom are parents).

Regional Kickoff and Next Steps
The “Open Your Eyes” Awareness Initiative kicked off in California by launching in the Greater Los Angeles/Orange County Region on Oct. 17 — International Credit Union Day (ICU Day).

While the initiative is only first focused on engaging consumers in the five-county area with targeted digital messaging aimed at dispelling myths and breaking barriers, so far consumer impressions are coming in from the entire state. A substantial portion of campaign contributions are coming from credit unions headquartered in the Greater Los Angeles/Orange County Region, an area home to an immense variety of communities and key intersection of digital media, consumer population, large events, and noteworthy venues.

As credit unions look to 2020, this regional test phase will inform the campaign regarding its next steps across the entire state of California in the coming months. The goal is to raise consumers’ consideration of credit unions.

So far, credit unions in 14 states are participating, with the goal of reducing the perception that consumers cannot join, putting credit unions at the forefront of their consideration, and creating opportunities to grow membership. In addition, 11 more states are approaching campaign-launch “readiness” phase sometime in the first half of 2020.

In California, 42 credit unions have already contributed nearly $2.9 million for the first year of the campaign (2019); and 40 credit unions are on board with $2.7 million for 2020, so far. All funds are strategically allocated into digital advertising channels within these contributors’ local footprint. (Nationally, 715 credit unions and affiliates pledged nearly $45 million for 2019.)

Learn More About ‘Open Your Eyes’
You can visit CUNA’s Awareness Initiative webpage to learn about the research behind the campaign, track early results, and read contributor testimonials. 2020 will be a pivotal year in the industry’s efforts to raise the awareness of more local California consumers about how credit unions are different.

Once again, the League would like to thank all contributor credit unions for their support as the industry looks forward to opening consumers’ eyes across California in the coming months.