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GUEST POST: Insights on Managing Social Media

Friday, August 20th, 2010

It is our pleasure to share a guest post with you today from James Robert Lay, a leading voice in the credit union industry on the power of social media, innovation, communication, and collaboration.  Enjoy!

As more and more credit unions enter the social media conversation, it can sometimes be overwhelming with all the different accounts one has to manage.  In addition, to follow up Michael’s previous thoughts, it is also important to post and create content after hours when people are checking their social networks.

While some are connected all day to Facebook and Twitter, others do their primary social networking after general business hours.  But what happens to your credit union in the conversation?  Are your social media channels playing the quiet game after hours?

There are some amazing web tools available to manage multiple social networks and even schedule posts to go out at a certain time.  Before we take a look at a few, please remember that social media is about being social and providing relevant information to your followers.  Social media is NOT about broadcasting or reusing marketing messages about the latest promotion, rate or holiday closing.  If this is all your posting, there is a good chance that no one is listening.

As an alternative, I recommend three simple steps: listen, learn and engage.  Listen to what is being discussed by your followers, learn from their conversations and then engage them in a real and personal way.  Keep in mind that all your tweets or posts do not have to be financially related or even about your credit union.  Make them real and relevant to your members and community.

But I digress… let’s get back to practical ways to manage social networks (primarily Twitter and Facebook) during the day and even after business hours.

One amazing online tool I recommend for managing both Twitter and Facebook is Hootsuite.  Hootsuite runs in your browser and let’s you manage multiple accounts including Twitter, Facebook, LinkedIn and more all from one location.  No more going to Facebook to make a post or Twitter to make an update as Hootsuite allows you to do it all from one location.

In addition, Hootsuite also allows you to schedule posts whenever you like.  This is very helpful when following a social media plan and strategy where you have planned content to go out that is helpful and educational.  Furthermore, Hootsuite allows you to schedule posts to go out after hours or on the weekends to keep the conversation going with your followers.

Another useful tool for after hours social media management are mobile applications that run smart phones.  There are many different apps available for iPhones, Androids and Blackberries allowing you to connect and manage your social networks where ever you are.  So if it is the weekend and someone tweets out to your credit union, instead of waiting until Monday to respond, using a mobile app will allow you to respond much quicker as needed.

In summary, there are many different ways to connect and manage multiple social media accounts in addition to scheduling posts and tweets to go out after hours.   There is also an option of syncing your social networks with your cell phone for easy mobile management.  Take some time to play around and try new things to find what works best for you.  But remember… listen, learn and engage.

About James Robert Lay

James Robert Lay is the Grower of Relationships at PTP NEW MEDIA and the Chief Tailor of Conversation at CU*SWAG. He is a web, viral and social marketing consultant as well as credit union advocate dedicated to helping credit unions connect and build relationships with their members and community. In addition, he is also one of the founders of www.cugrow.com, a credit union industry blog with a focus on innovation, communication and collaboration.

The Big Mistake Credit Unions Make in Social Media

Tuesday, August 17th, 2010

Social media is here to stay and it needs to be part of every credit union’s marketing mix.

Though not all of your members are there (at least not yet), a significant portion of them are using these new tools as a way to connect with people and get information.

But there is a HUGE MISTAKE that virtually every credit union using social media is making, and it needs immediate attention if their efforts are going to succeed in having any meaningful impact.

Here’s how I discovered this problem. (more…)

RECOMMENDED READING: Is Your Credit Union Ready to CRUSH IT!

Thursday, August 5th, 2010

Credit union folks have a passion about their business and a desire to show people how they can help them build stronger and more sound financial futures for themselves and their families.

Gary Vaynerchuk has a passion about wine and a desire to show people how they can enjoy it and make it a less strodgy and more reachable part of their lives.

So what do these two things have in common?

Both have the need to find an effective way to communicate their respective passions in a crowded marketplace where it can be difficult to get your message heard.

But there’s some great news for credit unions who would like to find their pathway to success. Vaynerchuk has done is and he has written a book to show others how to do it as well. (more…)

RECOMMENDED READING: Building Influence, Improving Reputation, & Earning Trust Online

Thursday, July 1st, 2010

One of the inherent challenges credit unions face in connecting with members and building relationships is learning how to effectively leverage technology.  The new world of social media has changed the game for those who participate, but for others it raises more questions than it answers.

In Trust Agents, Chris Brogan and Julien Smith provide a foundation for building an effective online presence in this new world that is worthy of consideration by credit unions seeking to tame this new frontier.  The authors advocate ‘being human’ as a core element of your strategy for becoming a trust agent.  In other words, putting a real face on your online presence that accurately reflects what your credit union stands for. (more…)

VIDEO POST: Growing Your Credit Union by Defining Your Ideal Member

Tuesday, June 29th, 2010

One of the questions I often ask when facilitating planning sessions with my credit union clients is this:  Who is your ideal member?

The question is often met with a combination of thoughtful and puzzled gazes, followed by comments reminding me that the credit union is open to all members who qualify under the charter, that the credit union treats all members the same, and that the credit union strives to deliver great service to all of its members.

But today I want to encourage you to seriously consider the question and what it means to the future growth of your credit union.  Start by taking a look at this brief video that sheds some light on the ideal member concept.

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ACTION ADVICE: Use your MCIF system to analyze your membership with an eye on defining your ideal member.  You might base it on their overall profitability, the bundles of products and services they use, or the frequency of their interaction either in the branch or online.  The point is to gain better insight into the members who really drive your credit union’s results.  Armed with that information you can focus your marketing efforts on attracting more of these ideal members and converting those who are not there yet into better members…strengthening and growing your credit union in the process.

It’s Your Turn: Who is your ideal member?  Are you actively building relationships with them and working to attract more of them?  How do you use your MCIF system to help you in this regard?  Please take a moment and share your insights with us by posting a comment.