MKT2260 Digital Marketing on Meridian Credit Union Online Tutoring

Digital SWOT

Strengths	Canada’s largest no-fee online transfer services. Full digital service on Motusbank. Super simple and easy to use incredibly convenient.
Weaknesses	Does not have any voice recognition despite its main. competitors have it. Customer support in not 24/7. Less advertisement on digital Platforms.
Opportunity	Growth of E-Commerce industry in banking sector Changing criteria for memberships.
Threats	Security Breaches Change in government policy and regulation Innovative digital campaigns by competitors.

Website Analysis

Website Grader Data (Website Grader, 2020).

Overall Performance :

Meridian Credit Union RBC Bank Scotiabank

It clearly reflects that the Meridian’s overall score is lower than RBC bank and Scotiabank.
RBC bank’s website tops in performance which can be improved by better servers.
SEO rate of Meridian is comparatively good.

Scotiabank:

All page sizes on websites are created for easy and fast access with less in size.
Meridian receives higher page requests from members than others which is important to update.
The average time it takes to browse the website is also higher than other bank’s websites.

Social Media Analysis

All social media accounts reflect members activity on Facebook and Instagram as we can see there are less followers of Meridian compared to RBC and Scotiabank.
There are number of different platforms from where Meridian can attract the members such as Facebook, Twitter, LinkedIn, Instagram, and YouTube. According to the ComScore that we did, the target audience of age between 18-34 of Ontario uses Facebook the most with approx. 1300 visits a day, 500 visits on Twitter, and 400 visits on Instagram. Thus, the results states that Facebook would be the best platform to advertise and to get connected to the customers. In Facebook, Meridian can upload day to day activity that will help members to be aware of what’s going on.

Digital Marketing Objectives

The first objective is to increase the awareness by 8% among the people of age between 20-30 by the end of 2020. This could be achieved by advertising on a right chosen social media platform such as Facebook, Snapchat, Instagram, Twitter. By creating an advertisement, we can come to know that how much of the people are showing interest in the add and are getting to know more about Meridian.
The second digital objective is to provide 20% of multilingual services to the customers by the end of December 2020, our focus would be mainly in starting with Arabic and Chinese because from the stats there are much more people of this race than others, and our company can come to know about the interest people will show towards our new idea and service.
The third objective is to increase the number of account holders by 5% by the end of 2020. This can be set to a goal of bringing in 1500 new Meridian account holders of our targeted audience age group. It will be beneficial for Meridian as more and more people will join and new feedbacks will be provided by the members which will help Meridian improve the things and achieve their goal
The fourth objective is to improve mobile banking app and the website performance rating from 3.4 to 4.5 stars on google maps and Appstore by the end of 2020. With technology being evolved, more and more people are moving to digital banking which could be a benefit for the company Meridian as if the services provided by them on websites and apps are valent good, it can help Meridian improve its rating.