Social media is like that dreaded pile of unfolded laundry that stares at you when you walk into your bedroom. You know it’s there. You know it would benefit you to tackle it and organize everything, but you just can’t bring yourself to do it. Just like laundry, leaving your social media where it is can really stink, but it doesn’t have to.
It’s not the burden you think it is – laundry or social media. I’m here to tell you why you should care, and how can social media drive member engagement, retention, and revenue.
Meet your members where they are
It’s all about access and communication. From online banking, mobile apps, and interactive teller machines, credit unions are providing channels for members to access their accounts and credit union at speeds we’ve never seen before. Social media is no exception. According to Our World in Data, in the US alone, adults are spending more than six hours a day on digital media with over half of that time spent on mobile devices. Furthermore, social media platforms are used by one in three people in the world. Why? Not only is it a way to connect with community and culture, it’s accessible by anyone with access to the internet.
Your brand and voice can be heard
Your members are owners and have bought in to your community. You can use social media to reinforce your values, what you stand for, and remind members why they joined in the first place. It establishes your credit union as an entity people can relate to and helps differentiate you from the competition. You can also build trust and inspire your employees to promote your company culture. This can bring you the talent you need to continue to build that company culture.
You can listen to what members are really saying
Social listening is a crucial part of creating a successful social marketing campaign. You can see what your members and other people are saying about the financial industry, credit unions, FinTechs, and your credit union. In fact, it is so easy that by not participating in the social conversation, you’re defaulting to “doesn’t care” in the eyes of your community. Use this information to create a more targeted campaign, learn from competition, and resolve problems you might not know your institution had.