What Gary Vaynerchuk Taught me about Credit Union Digital Marketing
This year was the first time I was able to attend INBOUND and I am sure it will not be the last! I had such a great time and heard so many amazing speakers. Gary Vaynerchuk really got me thinking about how credit union digital marketing has changed over the years and what we need to be doing to take full advantage of it.
Right now is the time to take advantage of Facebook marketing. Not only is Facebook the place a lot of people go to for their news and videos but right now the CPM (cost per thousand) is the lowest it will ever be.
Gary predicts that in the next 3 years, the cost for CPM will be 6x higher than it is now!! So right now, when compared to other forms of advertising, Facebook will get you the most attention for the least amount of money. But that's not always going to be the case.
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So many big brands and companies have not taken ad dollars away from the more traditional forms for advertising. Gary believes that sooner or later they will start to realize how much attention is on Facebook and once that happens, demand (and cost) will go up.
Facebook has the ability to build massive amounts of awareness and to connect marketing and sales with branding. Now more than ever, consumers care about brand.
"Creative is the variable to success"
Think of how many available options there are for financial products and services. What makes your Credit Union different? You can easily reach as many consumers as your budget will allow, but the hard part is making sure you get a clear message across and form an unforgettable impression. An impression not about your products or services but about who you are as people and as a company.
As Gary says: "People don't buy products, they buy the idea of the product." So what is the identity of your Credit Union's brand? And why should your members buy that idea?
Think about it and then make it clear to your entire organization. Every single staff members needs to understand your mission and vision, feel the strength behind it and then live it day in and day out as they interact with members. THIS is what will set CUs apart in 2017 and beyond... And believe it or not, you can communicate this all with credit union digital marketing!
If you need guidance, WE CAN HELP! :)
About Ida Burr
Ida is the Inbound Marketing Manager at Social Stairway, LLC, which provides Digital Marketing services to Credit Unions and Affiliates. She has been with Social Stairway since 2014 assisting Credit Union staff with their social media platforms and campaigns. Ida has experience in the banking industry as well as digital marketing, communication and content development.