It’s getting more and more difficult for credit unions to generate more members. However, with the recent movement in technology, credit unions would have to utilize all aspects in order to grow their membership list as well as their potential list of members. One way a credit union can do this is to utilize social media platforms. Social media can become a powerful tool that can give any company an edge in the market industry they’re in. It creates a virtual surrounding that can help cultivate relationships between you, your members, and possibly, your potential members. It’ll also help increase brand awareness. Basically, the name of your credit union could be known increasingly, thus building loyal customers.
Before even making an attempt to create an account or a page to be part of your social media presence, there are a lot of things you need to consider. Remember that if you do your social media campaigns well, you’ll be able to foster “member fanatics” who will both support and promote your content and your credit union. This act will increase your brand awareness faster than any marketing initiative. However, the downside of this is that you need to have clear goals or at least a strategic vision for each social media platform you’re going to use. This is really important as you could possibly be turning away potential members of your credit union.
So, in order to help your credit union become established in high social authority compared to others, check out some of the ways on improving your presence in social media.
Researching about your audience and your competitors will help you know a lot of things. Some of the things you should look out for are the social media presence of your competitors. You’re going to see what they’re missing from what you’re going to do in your social media campaigns. You can take their ideas and recreate them into something better. When researching your audience, you have to know your “social” audience. They are basically your target market. Before you can truly understand how to connect with your credit union followers, you have to conduct research to gather data. These data could come from your valued customers or use online tools to help analyze insights from your social audience through your traffic sources. Most social media management tools already provide some basic metrics and demographic information. However, if you need a better solution to this problem, you can use SumAll or Google Analytics’ Social Analytics to help you monitor your website traffic together with your social media platforms.
MacGyver Your Way
If you don’t know who MacGyver is, you should definitely search him right now. He’s known to be one of the best unconventional problem solvers known to television. According to Gravitate Design, “Filene, a research institute that specializes in credit union and consumer finance issues, has identified distinct social media personality types in their report, From Presence to Purpose: Developing Social Media Strategies and Metrics for Credit Unions. In the report,40 percent of credit unions are described as social media ‘Monogamists’—that is, they exclusively make use of one platform (e.g. Facebook) to engage their target audience while completely ignoring other mediums (e.g. Twitter and Instagram). Another 27 percent of credit unions are “Integrators” who establish a presence on multiple social media platforms
, but post the same content throughout, and thus create an integrated presence.”
The most successful group that utilizes social media to its fullest potential is known as the “MacGyvers.” There are only about seven percent of people who do this. The MacGyver credit unions are “creative, resourceful, and capable of engineering tools that serve the unique needs of their members.”
Furthermore, they maintain a very active presence and frequently engage with social media users. They also provide contents that are both valuable and rich, which differ from each social media platform. Plus, they show that the credit union together with the social audience work together by using words like “we” and “us.” Have you ever heard of why Kim Kardashian has become so popular on social media? It’s because she gave this exact feeling to her followers. She is in a form of a “friend.” Also, you’ve got to post from the perspective of a human and not an organization.
With any company, you’re always going to have to strategize most, if not every move, that you do regarding the company’s reputation. This also goes with social media presence to generate more members in your credit union. You can’t just have a Facebook page and expect it to flourish. It’s like you expect that building a company will automatically give you back revenue. There are always risks. So, if you want to have a competitive edge, your credit union should have a social media strategy
that will help actively engage your target audience. Furthermore, your strategy should also communicate the credit union’s vision while attempting to fulfill your marketing objectives. It’s a great idea to outline the goals you want to achieve in your social media campaigns. For instance, when you want your branch membership to grow, you may be able to provide tools and resources for financial success. You may also want to create social guidelines on how to engage with your audience, when and how often you do want to post, and most importantly, what the appropriate steps when handling negative comments are.
When creating your social media campaigns, you have to create and assign your staff members of their social media initiatives. This is especially for staff who lacks social media experience. According to Filene’s report, there was a credit union that said their social media efforts as — “We do social media but only when we have time… when someone has time to post… there isn’t a clear objective communicated from on high except ‘Do some social media.’”
So, even if your latest tweet came from a branch manager or a customer service representative, having a detailed calendar is needed. Plus, it’ll make sure that everyone has access to relevant content that directly targets your social audience. Furthermore, since every post is planned in advance, you can employ your credit union’s social media efforts more efficiently while everyone stays on the same page about the content.
These suggestions will help you start out your social media initiatives. There are still a lot to learn when trying to utilize social media presence to help generate more members for your credit union. If you are interested in creating a better social media presence, don’t forget to find out how to make a content calendar or share member-generated content, and even utilize free or paid social media tools like HootSuite, Followerwonk, etc. There are countless ways to increase your social media presence, and these are just some of it. If you are using other techniques and social strategies, let us know. Maybe we can help you out today.