MicroArts-- Social Media for Credit Unions
44
Social Media for Credit Unions—Drive Financial Performance Online By: MicroArts Internet Marketing Agency Drew Schulthess—Practice Director of Social Media Marketing Peter Getman– Principal Brand Director/CEO • Agenda + Social Media 101 + Social Media– The Reality for Credit Unions + Social Media– Credit Union Examples + Social Media– Get In The Game! + Social Media Business Cases
description
The world of social media is already talking about your company, its service, their satisfaction with your brand, etc. The question is not whether or not your brand is involved with social media, its whether or not your brand is going to join the conversation. We recommend you that you do! Did you know?77% percent of fortune 500 companies are engaged in some aspect of Social Media to support their business. Social networks and blogs have become the 4th most popular online activity, ahead of personal email. As a result 2010 is expected to be the year where Social Media overtakes search as the #1 online activity. So what exactly is social media marketing? How do businesses, corporations, and organizations leverage social media to their advantage? More specifically, how can credit unions use social media to create a predictable ROI for themselves? We invite you to review this presentation detailing the role, opportunity and impact that social media provides to credit unions today.
Transcript of MicroArts-- Social Media for Credit Unions
Social Media for Credit Unions—Drive Financial Performance Online
By: MicroArts Internet Marketing Agency
Drew Schulthess—Practice Director of Social Media Marketing Peter Getman– Principal Brand Director/CEO
• Agenda
+ Social Media 101
+ Social Media– The Reality for Credit Unions
+ Social Media– Credit Union Examples
+ Social Media– Get In The Game!
+ Social Media Business Cases
Social Media at Credit Unions?
• Yes! CUs are uniquely positioned for social media.
• We all want younger and more affluent members – the vast majority now are engaged with social media.
• CUs have the right message. We have the best product. We have the right attitude. People are looking for a better way to bank - and we have it!
• We just need to get this message out to the masses; to get out and shake it up with them.
Social Media at Credit Unions?
• Yes! People expect their CU to interact with them on a more personal level. This is just not the case with a bank.
• Credit Unions have a wide open market. Social media provides us the opportunity to reach people with our message and to actually demonstrate our commitment to them (and have a great audience to witness our good deeds while were at it!)
• You could not have a market vertical better suited for social media. This is perfect scenario and huge opportunity.
185+ Credit Unions saving millions annually
SilverCloud Knowledge Systems
Integral part of your online marketing and service
• Cut your phone and email volume• Dramatically improve the level of your service• Convert more members
Ask for your FREE Activity and Returns [email protected]
ABC Credit Union – Estimated Activity and Returns
• Estimated new member interactions: 30,591 per year• Estimated savings: $103,290 per year• Estimated 100% ROI: • Estimated 5 year value: $516,449
Based on current online activity at ABC Credit Union
PROVEN CREATIVE®
• 22 years• 300+ brands• East and west coast• Stuffed with experience• Live in a barn
• 22 years• 300+ brands• East and west coast• Stuffed with experience• Live in a barn
UBIQUITY
AGENDA:
• Agenda
+ Social Media 101
+ Social Media– The Reality for Credit Unions
+ Social Media– Credit Union Examples
+ Social Media– Get In The Game!
+ Social Media Business Cases
SOCIAL MEDIA 101—WHAT IS SOCIAL MEDIA?
SOCIAL MEDIA 101– INTEGRAL FOR INBOUND STRATEGY
• Timely
• Relevant
• Proactive
• Consistent
• Engaging
So who is left to trust?
SOCIAL MEDIA 101—WHY SOCIAL MEDIA?
• 14% of consumers trust ads
• 90% of people trust consumer recommendations
• 70% of people trust consumer opinions posted online
Nielsen Global Online Consumer Survey
SOCIAL MEDIA 101—WHY SOCIAL MEDIA FOR BRANDS
10 new KFC ‘get your grill on’ downloads.
I love the new iPod nano!
Starbucks coffee has 10 new fans!
3 new visitors to PWC via LinkedIn
connections
Objective: Connect with the faces of social media where they are connected
and trusted amongst others.
Objective: Connect with the faces of social media where they are connected
and trusted amongst others.
The faces of trust online. Have you connected lately?
SOCIAL MEDIA 101—STRENGTH IN NUMBERS
• More than 350 million active users • 50% of users log in once a day • Average user has 130 friends • Average user sends 8 friend requests a month • The 35+ demographic now represents more
than 30% of user base• The 55+ audience grew a whopping 922.7% in 2009• Surpassed Google as #1 destination website
• Over 25 million active users • 10% of internet users in households earning over $75,000 tweet • 76% of Twitter users use the internet wirelessly • Median age of a Twitter user is 31• 75% of all Twitter activity comes from 5% of the users• #3 Search engine [who is #2?]
SOCIAL MEDIA 101—REAL ROI EXAMPLES
Some more compelling stats.....
• $3 million – dollars in sales DELL attributes as coming from Twitter
• 15% – increase in daily revenue Naked Pizza has had using Twitter
• 5X – sales increase BlendTec experienced after running “Will it Blend” on YouTube and supporting microsite
• 37% – percent of Generation Y aware of the Ford Fiesta before it’s launch after Ford gave away 100 Fiestas to influential bloggers
• 5.4 million – clicks on “I voted for Obama” facebook button
• 24% – percent of Genius.com social media leads that convert to sales opportunities
• Biggest CU Social Media Study Ever– 11,000 Members Surveyed
+ 82% of credit union members age 18-60 use Facebook
+ Half of members surveyed said they would read a credit unions Facebook page periodically
+ Among credit unions with Facebook presence, only 5-16% of members were aware their credit union had a fan page.
+ Members using Twitter expect their credit union to provide information such as fraud alerts(71%), special offers (60%), financial tips(58%), and rate specials(57%)
+ Nine-in-ten online members are interested in receiving email from their credit union
SOCIAL MEDIA– THE UNITY FOR CREDIT UNIONS
The Callahan & Associate study including 11,000 Credit Union Members
SOCIAL MEDIA—VISUALIZE THE OPPORTUNITY EXAMPLE
5,000,000 Members represented on this call …
100 attendeeson the call…
Average Credit UnionHas 50,000 members
What if we could engage them all using Facebook?
SOCIAL MEDIA—VISUALIZE THE OPPORTUNITY EXAMPLE
4,100,000 Members
That’s cool, I will share with my
friends …
130 Friends
Engagement Strategy
533,000,000
Potential Facebook Users Engaged
SOCIAL MEDIA—THE REALITY FOR CREDIT UNIONS
It’s not a question that your brand will be discussed in social media. It’s whether or not your brand will participate in the conversation…..
I need a new bankWhy would I use a credit union?
Credit Unions are Old School
Finances are really confusing!!!
SOCIAL MEDIA– CREATE OPPORTUNITY WITH ACTIVE PARTICIPATION
Appreciate kind words
Address not so kind concerns
Clarify misconceptions
Educate on your true & personally- relevant value
Empower members to share experience
SOCIAL MEDIA—MAKING THE REALITY OPPORTUNITY
Active Participation
Active Participation
I recommend checking out a credit union if you are considering a loan
Credit Unions have way better interest rates than banks.
I didn’t know credit unions not for profit, no
wonder why banks charge so much!
I think I might get an account at a
credit union
My credit union does free consultations for
college grads …
SOCIAL MEDIA–-CREDIT UNION EXAMPLES
http://www.bankerspank.com/
• Over 54,000 total views on YouTube
• 1,000+ visitors a month
SOCIAL MEDIA—CREDIT UNION EXAMPLES
• Launched blog in September of 2004 • Uses pictures to drive engagement • Get’s over 1,000 Visitors a day • Delivers thought-leadership and education
CHUCK BRUEN–President/CEO of First Entertainment Credit Union
http://www.cbruen.com/blog/
SOCIAL MEDIA—CREDIT UNION EXAMPLES
SOCIAL MEDIA– PLAY THE GAME IN TWO PARTS
SOCIAL MEDIABIG IDEA
• Awareness • New members • Member Service• Member Loyalty
Active Participation
ACTIVE PARTICIPATION EXAMPLE– TWITTER
STEP 1. Listen
Credit Union is mentioned over 16,000 times/month
ACTIVE PARTICIPATION EXAMPLE– TWITTER
STEP 2. Track– Use Geographic location, ex. Boston, MA.
Tweets within 100 miles of Boston
ACTIVE PARTICIPATION EXAMPLE– TWITTER
+
STEP 3. Manage and review for sentiment
-
ACTIVE PARTICIPATION EXAMPLE– TWITTER
STEP 4. Engage …
• Retweet to your followers
• Direct message thank you
• Share tweet on your website
• Add to special list
• Provide discount/promotion
• Get email if possible
• Direct message if possible
• @Mention with transparent apology and solution
• Give discount/promotion
STRATEGIC MESSAGE PLATFORM
+ -
ACTIVE PARTICIPATION EXAMPLE–VIRGINIA CREDIT UNION
STEP 1. Listen
The term “Virginia” and “Credit Union” has been
mentioned over 14 times in the last 10 days…
ACTIVE PARTICIPATION EXAMPLE– VIRGINIA CREDIT UNION
STEP 2. Track– Tweets near full service branches
16+ Tweets Involving Credit Union(s)
100 miles of Richmond in 7 days
ACTIVE PARTICIPATION EXAMPLE– TWITTER
STEP 3. Manage and review for sentiment
+
-
ACTIVE PARTICIPATION EXAMPLE– VIRGINIA CREDIT UNION
STEP 4. Engage …
STRATEGIC MESSAGE PLATFORM
+
-
• Retweet to your followers
• Direct message thank you
• Share tweet on your website
• Add to special list
• Provide discount/promotion
• Get email if possible
• Direct message if possible
• @Mention with transparent apology and solution
• Give discount/promotion
SOCIAL MEDIA– PLAY THE GAME IN TWO PARTS
SOCIAL MEDIABIG IDEA
• Awareness • New members • Member Service• Member Loyalty
Active Participation
BIG IDEA EXAMPLES…..
BIG IDEA EXAMPLES…..
BIG IDEA EXAMPLES…..
BIG IDEA EXAMPLES…..
BIG IDEA EXAMPLES…..
MAKE OR BUY SOCIAL MEDIA SERVICES?
• Tip of the iceberg
• Top talent
• Proven best practices
+ Business case driven
+ Demonstrable ROI
+ Scalable strategic message platform
+ Proven brand voice experience
+ Heart beat on social media
• Chemistry
• Business model is to wean you to be independant
Q & A– Any questions for MicroArts?
