Are you deciding whether to redirect marketing and business development dollars at your Credit Union or Bank for Social Media Marketing? Well, I’m here to tell you that as a life-long Credit Union member and Digital Marketing expert, the two could not be more right for each other! And here’s why… 1. Credit Unions and Community Banks are All About Service to their Customers and Members and Social Media is Too! Social Media Marketing success comes with developing relationships, cultivating your fans and followers, and helping them with problems and challenges. Your Financial Institutions are all about this TOO! It’s their entire mission really. So why not bring CUs and Social Media together?
As we have all evolved as businesses in the market place, the banking customer has also changed dramatically over the last 5-10 years. A person shopping for a new banking product or service now consults on average 8.9 sources of information! And branch traffic continues to decline year over year, so where are these potential customers going for all their information and how do you stay relevant to them??
This e-Book will help you find the best ways to maximize your digital presence, reaching new audiences while increasing your share of wallet with existing customers.
As many of your financial institutions are working through the strategic planning process, we wanted to share some insights we've gathered from leaders in the industry. So we reached out to several Credit Union CEOs we work with and asked them about their plans for the future. Here's a couple of items that seem to be popular on their lists for how to plan for future growth: #1 CU Leadership Priority for the Future: Technology is King According to Jim Garvey, CEO of St. Mary's CU, a $800+ million credit union headquartered in Marlborough, MA, "our biggest priority is to migrate our operating core to a new platform which will allow us to offer our members a significant upgrade to their mobile banking experience."
Originally published as a Guest Blog on CUInsight Here's a few key reasons why social media traffic might not convert on your FI's website... Crafting an effective social media post is a skill that marketers spend a considerable amount of time trying to perfect. After many iterations and use of excellent social media tactics, often staff struggle to show how the posts are effective at product or service promotion, and therefore unreliable in demonstrating bottom line impacts. Even the most well-crafted social post won’t drive bottom line impacts without an equally well-crafted landing page.
Here's the 5 Things In a Good Bank or Credit Union Social Media Staff Policy That You MUST Include! When crafting your Social Media Marketing Strategy, your Financial Institution MUST have a full-proof Social Media Staff Policy in place, in order to avoid online disaster. Here’s the five main points you’ll need to consider when crafting your internal and external social media staff policies. 1. Define Your Audience: You’ll need policies that are for the public and then policies for employees. The purpose of the public policies should be to explain your mission for interacting online. Consider using wording like:
Are you wondering how to help your financial institution better compete in the changing online banking landscape? Maybe you're concerned that the shift of consumers toward Fintech online-only banks might eventually drive your FI out of business? (If not, maybe you should be concerned.) Well here's a few tips for how to position your institution for Fintech [Olympic] success! 1. Training is Key In the regular Olympics it takes years of training for athletes to reach their peak performance level. But in today's consumer banking environment, most FIs don't have years to get their act together.