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.
Last Saturday I had the privilege of speaking at the West Virginia Credit Union League’s Volunteer Leadership Conference at the Stonewall Resort. During a session on Strategic Thinking we ventured online to take a look at the Facebook and Twitter presences of a few credit unions.
And that’s where I discovered the HUGE MISTAKE that credit unions are making.
The Mistake: Credit unions are not joining in the conversation on the weekends or in the evenings.
The Evidence: I follow over 500 credit unions on my Facebook account and reviewing posts for the previous 18 hours around 2 pm on a Saturday revealed a total of ZERO POSTS from any of them. And that has been my experience virtually every time that I have done this little experiment during a weekend presentation, or when I check in the evening during the week.
The Reality: Your members are online and checking their social media accounts at night and on weekends, not during the business day. If you are only putting out information during the day, you are missing the real opportunity to connect. In fact, based on casual conversation, it seems that many Facebook users don’t even take the time to review posts that were put up when they are not online.
The Bottom Line: If you aren’t connecting when they are live and paying attention, then chances are you are wasting your time, or at least achieving less impact than you would like.
Enough said.
ACTION ADVICE: Find a way to start connecting with your members via social media when they are actually online so that they are reading current information and can join in the conversation with you live…not with a time delay. Perhaps you can engage some volunteers who would be willing to provide leadership in this area…you provide them with the messages and they post them and monitor the conversation at night and on weekends. Or maybe you have some staff who are avid social media types who would be willing to handle this for you. Whatever you do, find a way to make it happen…and your social media efforts will yield bigger impacts.
It’s Your Turn…What do you think about this issue? Any ideas for getting this done effectively and efficiently? Any experiences worth sharing? Post a comment and let everyone know.
Good points Michael. There are tools out there that allow you to schedule tweets/posts/etc to go out at certain times. I think another HUGE mistake I am seeing is the content that is being posted 85% of the time it is regurgitated marketing material that is being broadcasted out to these channels. This is just a much of a waste of time as not posting during the right times.
Thanks James. I concur that much of what I see is not on target to build effective relationships and join the conversation. But there are a few exceptions. If I were to break it down without actually doing the math and counting the posts, it seems that there is a somewhat equal mix of four types of posts being put up by CUs:
1. Rebroadcasts of marketing messages
2. Sharing of accomplishments and activities
3. Posts of information that people can use to help improve their financial well being
4. News and information updates for members and other interested parties
All of these have a part to play, but what I don’t see enough of is inviting people into the conversation, asking questions to solicit member feedback and input, and taking time to comment on and pass along information from other thought leaders. Personally, I also think that more CUs should be using blogs to share updates on everything from board actions to product/service usage to staff accomplishments.
Love the blog! I remember going to all the breakout sessions in the early 90s about this elusive internet (yes, I am that old AND I engage in social media). The presenters telling us that having a website is a must even though the audience was small but growing. Social media is the same with all demographics seeing growth. Credit unions can’t continue to do business in the same way they always have.
Thank you Kerri! You are right on target…the CU business model is broken and needs to be changed, i.e., improved, enhanced, and adjusted to the new normal that we are now experiencing and will continue to experience in the weeks, months, and years ahead. Doing business the way you always have is a pathway to one outcome–the end. New ideas, new actions, and new thinking will drive the future of the industry!
I have a facebook account, but find it a tremendous waste of time. Why in the heck would anyone want to know that I’m shopping at a certain store or I’m dining out at a particular restaurant or I just got a bargain at a certain store.
And I really don’t need to know the same things about my friends and neighbors.
If I want information from my CU, I’ll go to the CU either in person or via the web. Sorry…..
Thanks for your comment. Facebook, and particularly the simple where am I and what am I doing comments, doesn’t appeal to everyone. But there is an entire generation of members and potential members for credit unions who use social media as their main form of communication. For these folks e-mail is not how they communicate and they are not going to go to the credit union or to the credit union’s website…they want the information they need delivered to them where they want to receive it…and that is via social media sites. Though it is not the only pathway CUs should be using, it is one that has to become part of the mix to connect with those who rely on it for their information.