Client Website: https://www.financialedgeccu.org/
Industry: Financial Services, Credit Union, Community Banking
Dates of Consulting Service: September-November 2017
Platforms Implemented: Facebook, Content & Email Nurture Campaigns
FinancialEdge came to us with a beginning social media presence, but they wanted to do a better job of engaging members online and then driving traffic to their website.
The goal was to invigorate the CU’s digital and social media presence with 8-weeks of training, strategy, content curation and marketing consulting. This package was designed to empower internal staff with the know-how to move forward on their own, and it’s pretty easy to see incredible results!
For the second four weeks of service we ran Facebook ads for the CU. With a fairly small monthly ads budget, the CU was able to make some impressive progress.
In just one month we were able to engage with confirmed members 482 times! We also send 1124 people to revenue generating pages on the CU website during those weeks.
Prior to working with us the FECU Facebook page had a 4% engagement rate each week, but we achieved an 85% engagement rate for them with well placed and highly target ads
We grew their Facebook fans by 375 new Facebook fans in only ONE month! AND, the real kicker… 228 of these new fans were confirmed credit union members!
For the first four weeks of
Our social media ads manager also spent time with their staff to help them learn some advanced Facebook and Instagram targeting and placement techniques.
FACEBOOK – Monthly FB Ads Budget: $1,000
For the second four weeks of
First, we were able to jump their fans on the platform from just over 700 to 1083!
That’s roughly 375 new Facebook fans in only ONE month! AND, the real kicker… 228 of these new fans were confirmed credit union members!
Now, to be honest, our main focus is never on just growing Facebook fans, as those are what we call ‘vanity’ metrics, and don’t really mean much in the long run.
But every Financial Institution wants to be engaging existing customers as often as possible. This is especially important as branch traffic continues to decline year over year. After all, your FI has to stay top of customer’s minds somehow!
This traffic went to the CU’s personal loan application page as well as their reward checking page, as you can see in the ad example here.
And the average cost to send traffic away from Facebook to the CU website was only $0.38 per click! If you work in marketing you’ll know that this cost per click (CPC) for a loan product or service is absolutely phenomenal!
Overall engagement rates went through the roof during our time of service. Prior to working with us the FECU Facebook page had a 4% engagement rate each week, but we achieved an 85% engagement rate for them with well placed and highly target ads and useful and engaging content!!
An added benefit to using Facebook ads also comes with an increase
Overall, the impacts of our service were significant.
Not only did the CU’s marketing team receive valuable training and strategy support, but we also set them up with an ads strategy that their small team can maintain on their own in the future.
And the quick positive results helped with organizational buy-in to the benefits of using social media to reach and engage current credit union members and potential new customers.
You can do this for your Financial Institution as well, and we can help! Our Full Assessment and 24-month Roadmap will give you everything you need to implement full email nurture and lead capture services in addition to social media and digital marketing strategy and support. Then you can choose to implement this plan yourself or we can help! Email us today to discuss, or visit our What We Offer Page to learn more about working with our team!
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