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he CU Marketing Compendium: Social Medi Patrick Rooney, QUEsocial
| Date post: | 29-Oct-2014 |
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The CU Marketing Compendium: Social MediaPatrick Rooney, QUEsocial
Let’s start with…
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…
