DANVILLE, Va. -
Take a closer look at several CU Web logs, where employees gather to post entries on any number of topics. That's also where online members go after they've paid bills at the homebanking site-blogs are evolving into what could be called a "web lobby," or "blobby."
In fact, Dan Veasey, marketing representative at $30-million Piedmont CU (PCU) here, believes that blobbies may be the glue that holds members together.
"At PCU, I don't perceive most of our members as being that cohesive," he explained. "At my former credit union, I remember members just hanging around together in the lobby after making their transactions."
In March, Veasey made an attempt to bring PCU members together by starting the credit union's Member Connect blog, where he writes about everything from PCU's person-to-person bill pay feature to how he dreamed up and contributed to his niece's prom-dress savings account.
"The blog helps to build a sense of community and loyalty with our members online," said Veasey. "It gives people the ability to offer their own point of view. And when people make the jump from being spectators to participators, they strengthen their bond with the group and start to uncover what they all have in common."
Veasey's "experiment" has piqued member interest, he said. "On an average day, about half the hits come from our main website, so I know that there are members reading the blog."
Although building member loyalty has always been considered the most compelling reason for blogging, the $1-billion FORUM CU of Indianapolis, Ind., realizes that blobbies attract a bevy of businesses, as well.
"The main purpose of my blog is to network with credit union peers and friends," said Doug True. The svp-Technovation at FORUM, and president of FORUM'S CUSO, FORUM Solutions, merged two existing blogs in 2005 to create his "True Story."
"The biggest success of True Story was meeting my friends from Trabian," True said. Trabian, an Indianapolis-based web development firm, read True Story and asked FORUM Solutions for advice on how to best reach out to the CU industry.
"Fast forward, and we are now working on a joint project that could be revolutionary for credit unions," said True. (The product is undergoing a patent-pending process and remains under wraps, he added.)
True Story also racks up sales for FORUM Solutions, attracts public speaking opportunities, and helps True stay in touch with industry experts, True said.
Members, too, click through True Story. "Some members read my blog and like the transparency of talking to someone at the credit union," added True.
Meanwhile, the Credit Union Warrior blog at Members CU in Winston-Salem, N.C., has made blogging look like a pretty good thing to other credit unions nationwide, according to host Matt Davis, who is also director of public relations at the $200-million CU.
"Credit Union Warrior is changing the mindset of credit unions"-thanks in part to "Football Pick'ems," Davis suggested.
At this blobby, which Davis created in about two hours in January, members can watch a popular series of weekly video promotions for e-statements. They're also encouraged to predict the winners of professional football games as part of a "Football Pick'em" contest.
The promotional videos have been viewed nearly 8,000 times, increasing the number of contest registrants by 30%, said Davis.
"When I started the blog, there were very few credit union blogs out there," Davis explained. "Now, as existing blogs get better and more credit unions decide to take the plunge, we are creating a powerful presence in social media-a network of pro-credit union blogs touching a massive number of readers."
About 20% of U.S. online consumers read blogs, but less than 1% of financial institutions offer blogs, according to San Francisco-based Javelin Strategy & Research.
Trabian counts about 20 credit union blogs in total on the Net and about 20 additional blogs by credit union employees.
"Blogging will play a more prominent role at FORUM in 2008 and beyond," True added.
more
Read more about marketing tools at cujournal.com and search the following terms in the archive:
What Would You Do With $1,000?
CU On The Blog, on the CU industry's first forays into blogging.
It's :) Vs. :( When It Comes To Comments About CUs, on what people are blogging about CUs behind their backs.
For Info On The Story:
* www.bellco.org
* www.piedmontcu.wordpress.com
* www.www.dougtrue.net
* www.creditunionwarrior.blogspot.com
