The CU Marketing Compendium: Social MediaPatrick Rooney, QUEsocial

Let’s start with…

https://www.youtube.com/watch?v=QUCfFcchw1w

Remember this?

Engrossing interactive gameBrand partnershipsDifferent social platforms

Support humorous videos with audience interaction

18-month old company with 200,000 customers

It doesn’t have to be hard (or expensive)!

Take baby steps Experiment to see what fits Ask for help Follow examples Open your mind

Why do many credit unions struggle with

social media?

Will social media go away?

Um, NO!

Imagine if you could activate your customers to recommend you…

I love my credit union! They are

helpful, responsive and fair. I’ll never go back to a big

bank.

I love my credit union! They are

helpful, responsive and fair. I’ll never go back to a big

bank.

What does the research show?

Social presence without a strategy

Learning: What’s happening?

There isn’t a clear objective communicated except ‘do some social media’

“We do social, but only when we have time”

Goal is to engage, but actions are to broadcast

Learning: What’s happening?

Expectation is to reach younger members, but…

‘20 somethings’ are not the most prevalent existing member demo

Expected Target Demographic

% by segment

More engagement activity coming from older crowds

Default Result: social strategy misses the mark of reaching younger audiences by broadcasting to existing members

Learning: What’s happening?

Disconnect between Usage and Effectiveness

Utilization of different Social Media Effectiveness of Social to Engage

% of Credit Unions with a social media presence

Engagement per ActivityOf those with an active twitter account, just over half posted >1 tweet/month

Learning: What’s happening?

Inconsistent success metrics

Learning: How do we measure?

•Respondents “feel” successful or complain about their lack of focus/resources•Majority do not measure success•Only a few measure:

− Growth in networks− Engagement− Commitment

Marketing is King

• Social strategy of all survey responses was in marketing

• However, very few have explicit social media strategies tied to marketing strategy

• Lack of use in HR and Customer service (MGC)

Learning: who owns social?

Segmentation parameters

1. ADOPTION

•How do credit unions adopt various social media platforms?

• Lack uniformity

• Initial forays can be enthusiastic and halting or experimental

2. USE

•How do credit unions use social media past the initial adoption stage?

• Lack uniformity

• Categorically similar

Learning: How we segment

Adoption categories

Prospectors – 37%

Flirts – 53%

Do it Right – 10%

Learning: how do cu’s use social?

• Create multiple and inconsistent social media presences

• Many unrelated to core objectives

• Difficult/impossible to understand credit union unique brand

26%

Learning: how do cu’s use social?

Use categories – Sybil

• Enduring presence on one platform

• Faithful and exclusive

• Message hits audience only when they are engaged on that platform

Learning: how do cu’s use social?

Use categories – Monogamist

40%

• Create multiple but integrated presence across platforms

• Post similar information across platforms

• Don’t take advantage of value-added elements of unique platforms

Learning: how do cu’s use social?

Use categories – Integrators

27%

• Utilize multiple tools

• Integrated presence

• Leverage unique capabilities of each platform

Learning: how do cu’s use social?

Use categories – MacGyver

7%

• Post descriptions of a financial education event on Facebook

• Comment about the usefulness of the event on a blog

• Post videos of a prior similar event on their YouTube channel

• Use twitter to remind constituents of the time and place as the event approaches

Learning: how do cu’s use social?

MacGyver – Event Example

Why Social Media?

• Deeper relationships

• Word of mouth

• Extend reach

• Credibility

• Drive SEO

• Amplify other marketing activities

• Survival

Incorporated consumer feedback into ad campaign

Tapped into the power of recommendation

Leverage Facebook, Twitter, Pinterest, YouTube and Yelp• 16k Likes• 3k+ followers• 49k video views

“The ‘Share‘ campaign is the BECU brand as voiced by our members.”

What if? Wh

y not?Let’s go.

Putting social in context

Professional Networking Backyard BBQ

Cocktail PartySelf Expression

More conversations, please.

Planning for Success

Treat social as any other business channel

Treat social as any other business channel Outline a clear objective, strategy and

metrics

Planning for Success

Treat social as any other business channel Outline a clear objective, strategy and

metrics Get your story straight

Planning for Success

Treat social as any other business channel Outline a clear objective, strategy and

metrics Get your story straight Understand the landscape

Planning for Success

Treat social as any other business channel Outline a clear objective, strategy and

metrics Get your story straight Understand the landscape Be creative within the context of your

audience

Planning for Success

Treat social as any other business channel Outline a clear objective, strategy and

metrics Get your story straight Understand the landscape Be creative within the context of your

audience Content is king

Planning for Success

Use common sense!

• Define specific outcomes and metrics

• Leverage as business intelligence engine

• Create as many direct links between social activities and results

Measure and gain insights

Final Thoughts…

Contact Information:

Patrick Rooneypatrick.rooney@quesocial.com

@patrick1rooney