MADISON, Wis.-Credit unions aren't close to tapping the power of social media in telling members and potential members all they have to offer, according to two analysts.
"Credit unions are really good at talking to themselves on social media channels, but we are missing opportunities to reach current and would-be members to tell our story," Michael Ogden, social media manager, CUNA Mutual Group, told participants of the Online Discovery Conference. "It's time to flip the switch on being bold in communicating the great things that are going on with credit unions and what we can do to help consumers."
Ogden joined Robin Marohn, VP-marketing and business development with Heartland CU, Madison, Wis., in discussing social media-related issues. Ogden said finding the right platform for a CU to reach its audience is key. "It's not a one size fits all. Is it Twitter, Facebook or Pinterest? There are audience-finding tools available that can help you find the people you want to reach."
Heartland, which has 18,000 members in Wisconsin, Illinois and Iowa, dedicates 80% of its marketing budget to social media.
"Traditional media advertising can't touch what and who we are reaching through our Facebook presence," Marohn said, adding that Heartland's ad dollars now go toward video production for its You Tube channel and Facebook and Twitter pages.
"Content, of course, is critical. It breeds engagement. Our challenge is keeping that engagement content coming."
