The situation
Metro Credit Union, the largest state-chartered credit union in Massachusetts and Imarc’s long-term client prioritizes staying competitive so that it can serve its members at the highest level. Recently, MetroCU came to Imarc for a competitive review and audit of their primary competitors in three key markets; Brand/Deposits, Mortgages, and Student Loans.
MetroCUHaving launched our redesigned website with Imarc several years ago, we wanted to gain a better understanding of how the user experience we present compares with others in the industry – and where we may have room for improvement. We enlisted Imarc to assist with a competitor audit knowing that the combination of our strong partnership and their understanding of the marketplace would help us create a solid strategy moving forward.
The solution
MetroCU provided Imarc with 13 primary competitors and their areas of focus and from there, Imarc performed several kinds of analysis.
For each competitor, we looked at the Brand voice and tone, key messaging, color themes, and logos as they pertain to each of the specific Brand/Deposits, Mortgages, and Student Loan initiatives.
From there, Imarc provided color analysis and a comparison of MetroCU’s primary color themes versus their key competitors.
Imarc’s team then aggregated our findings for each of the three marketing initiatives into a SWOT analysis that identified key target areas and messaging that were performing well alongside what needed to be addressed.
The final recommendations were founded on best practices and focused on remediating any gaps in MetroCU’s current marketing and branding strategies.
The results
The MetroCU team was handed the insights they needed to make informed strategic decisions that will drive their ongoing growth and success.
MetroCUThe insights provided by the competitor audit Imarc performed helped us to shape our 2024 digital content strategy, and we look forward to working with them to implement their recommendations and seeing the increased leads and conversions that will result.
The future
Since 1926, MetroCU has been helping members achieve their dreams, and we have no doubt that with these findings in hand, they will be doing so for many years to come.