How Your Credit Union Can Avoid the Top 5 Mistakes on Instagram Is your CU on Instagram? If not, maybe it should be. After all, Instagram is one of the fastest growing social media platforms today. The audience on Instagram skews much younger than Facebook, most being between the ages of 18-29, which makes it an excellent platform for your CU to reach younger potential new members. However, if you’re going to use this new social media platform, it’s important that you avoid the most common mistakes. Here’s a list of the top 5 mistakes we see regularly on Instagram: 1. Profile is Incomplete When creating an account on Instagram, you have up to 150 characters to use to describe your Credit Union. Make sure your description is complete and straightforward. Also, make sure your website is listed, since it is click-able directly from your profile. We also recommend that you change the link in your profile when you share relevant content from your website, as this is the ONLY hyperlink on the platform that so it’s the best way to send people to your CU website. Refer to these links in the relevant posts with comments like “link to blog in profile above.”
Here are the top three mistakes we see often in Credit Union social media: Mistake #1: Being Interruptive on the CU's Credit Union Social Media In case you're wondering, just broadcasting promos doesn’t work! Social media is about relationships – Just Like CUs vs. Banks!!) In 2016, 78 percent of U.S. Americans had a social network profile, representing a five percent growth compared to the previous year. So it's essential to be present on these platforms. But no one wants to be jarred out of their online experience. If you are posting on Facebook don't just share about your products and services. Be inspired by the platform and share content that is appropriate. I tell clients to focus on being either ENTERTAINING or USEFUL.
This e-Book will help you find the best ways to maximize your digital presence, reaching new potential members while increasing your share of wallet for existing members.
Maximize Your Credit Union Marketing Budget by Ditching Snail Mail and Going Digital! Every business, from Nike to the smallest local mom and pop store has a finite amount of money to spend on advertising. But not all advertising is equal, and there are some forms of marketing that are more efficient than others. Direct mail is not a very efficient use of a credit union marketing budget, and here are the 5 main reasons why. Here are Five Reasons Direct Mail Is a Waste of a Credit Union Marketing Budget: Reason #1: Wasted Resources - Often when using direct mail marketing, there is a tempting rebate offered by the printer if the customer chooses to print a larger number of copies. Coincidentally (or not), often if a business orders 1000 units to be printed, there is an added rebate if they order 2000. Or, if a business orders 5000, there is a rebate for ordering 7500 and an even greater rebate for ordering 10,000. The offer of a rebate is very tempting, but the truth is, most companies would be better off sticking with their original order number, even though they often don’t. What happens to those extra copies that were purchased thanks to a big rebate? They usually get put on a shelf or in a cabinet for a later date, and eventually they are wasted.
Amazing Targeting Options for Facebook Ads - These are PERFECT for Credit Unions! One of our main goals with Credit Unions is to help them reach new potential members with the exact information these people might already be looking for. Building relationships around mutual benefit is one of the best ways to grow an audience that might be interested in becoming a member in the future. For this reason we are constantly working to improve our targeting options for CUs and one of the best places to do this is with Facebook Ads. Their digital ad targeting options are UNMATCHED! Here’s a sample of some of the methods we’re currently employing that work specifically well with Credit Unions:
Don't Miss Anything Major in Your Credit Union Social Media Policy - Take This Short Quiz Now! You probably already know that your Credit Union Social Media Policy needs to be good, even great - but the reality is that in today's social media obsessed world, your social media policy needs to be positively foolproof. To determine whether your credit union is really ready to deal with clients (and with the world) via social media, take the following quiz. #1: Are Employee Roles Clearly Defined For All Social Media Usage? Your Credit Union social media policy should clearly define which employees will handle the credit union's social media accounts. The people who are authorized to post on behalf of your credit union should be explicitly allowed to do so according to the terms of their contract.
Creating effective goals in any area of business can be challenging, but in marketing for a financial institution it can be especially tricky. Because the banking buyer's journey is long and convoluted, it's not always easy to track conversions and directly prove ROI. Here's a few quick tips to keep in mind when setting up goals for your next credit union marketing campaign.