Twitter, the micro-blogging site, is everywhere. Websites of all stripes feature the now familiar logo and encourage you to “Follow us on Twitter.”
Celebrities, celebrity-wanna-bes, businesses, reporters, columnists, and regular every day people are spending (at least a portion of) their days ‘tweeting’ about their every move. There are even software programs that allow you to schedule your tweets at the time of day you want them to appear.
If you doubt the power of this new medium, consider the impact of a tweet this past September from cycling legend/cancer advocate Lance Armstrong.
It seems Lance was preparing for a bike ride in Los Angeles and decided to invite some friends. He tweeted:: “Hey LA – get out of your cars and get on your bikes. Time to ride. 7:30 tomorrow am. Griffith Park, LA Zoo parking lot. See you there.” Hundreds of fans showed up for the ride.
Think about that…with a quick broadcast of less than 140 characters hundreds of people to trek off for a bike ride with the 7-time Tour de France winner. While I am not surprised…as an avid cyclist I would have jumped at the chance to ride with Lance and if I had been in the area I would have shown up…think about the real power of this new medium for your credit union.
For example, suppose you are launching a new auto loan promotion. You could send a tweet targeted to those members with aging car loans who might be in the market for a new vehicle. Or maybe you are promoting a special a CD rate. You can send a tweet targeting those members who have CDs nearing maturity or who have large balances in other accounts they might be interested in moving into a CD.
You get the idea. Because Twitter requires people to opt in to receive messages, i.e., to Follow You, you know that you are talking to an audience that is interested in your message. Because the messages are brief, they don’t require a lot of design and debate…they are simply letting your members know what you have available so they can connect via the internet, the telephone, or in the branch to take advantage of the offer. Because the messages are free, they can be a cost effective way to boost your marketing efforts.
I’ll admit that I started out as a serious skeptic about this idea of twitter and tweeting, and I was not that excited about being referred to as a ‘Twit,” which has become common shorthand for one who tweets (because calling them ‘Tweeterers’ is just too cumbersome). But after joining the conversation a few weeks ago and learning more about how it works, I can see the tremendous potential that it has as a business building tool.
As with any other tool, the key to your success will be your effectiveness in learning how to use it to achieve the outcomes you are seeking, and integrating it into your overall strategy. It will take time, it will involve trial and error, and it will not reach all of your members. But the potential is there for it to help you connect and build relationships with the next generation of members, and that makes it something you need to know about.
ACTION ADVICE: If you haven’t taken a look yet, check out at www.Twitter.com. You can set up an account and start following a few people to learn how it works, you can start tweeting away about whatever is on your mind and gain an insiders perspective, or you can simply watch and learn. You’ll quickly see the power of being able to target messages to people who have raised their hands to say they are interested, i.e., your followers, and you’ll see that many of your credit union peers have discovered the value of joining the conversation. I encourage you to do the same as we shape the future of this powerful new marketing and business development tool!
P.S. You can follow CreditUnionStrategy.com on Twitter and keep up to date with new information posts on the website and the occasional thought provoking comment.
