ANAHEIM, Calif. – Stories have always been a powerful teaching tool, and if a credit union can pair that with a robust social media strategy, the result can be like spinning straw into gold.
Peg Fitzpatrick, an author and social media strategist from Keene, N.H., said content marketing is a challenge, but proper use of storytelling connects a credit union with its members.
"Fairy tales and morals are a way stories stay in the lexicon," she told attendees of the CUNA Marketing & Business Development Council's Annual Conference here Monday. "'Little Red Riding Hood' is a story that is well-known and remembered. 'The Little Boy Who Cried Wolf' teaches a lesson. The story has been around since the 1400s, but it is so well-known you just have to tell someone, 'Don't be the boy who cries wolf' and they know exactly what you mean."
Fitzpatrick said a really good story can be retold, and today, a storyteller can reach a lot more people than in years past thanks to the Internet. "We can connect with people all over the world through our phones, which have more power than computers that used to fill an entire room."
Four Fenceposts
Fitzpatrick detailed four steps to building a content marketing program, starting with building a foundation.
"The story has to start somewhere," she said. "Get all of your social media accounts set up properly. Facebook offers verifications for business pages, which adds credibility. Facebook also offers free training."
Second, connect with people – either new or existing members. Fitzpatrick said marketers can visit Facebook pages of individuals, or the page for their business, if they own one. "Find small businesses in the community that serve the same base," she suggested.
Third, start a conversation – a specialty of social media. This conversation does not have to be directly related to the CUs services or products, she noted.
Fourth, share community. "Find others using social media in your community and see how you can join in," she advised. "Participate in community events, go to volunteer events and take pictures. This allows people to see the credit union being active in the local community."
The connection is the important part, Fitzpatrick said. When Elizabeth Gilbert wrote "Eat, Pray, Love" about her own life journey, she then heard from many people who felt a connection as they had similar experiences.
With the conference housed in the Disneyland Hotel, Fitzpatrick noted Walt Disney was one of the "greatest storytellers ever."
"He thought up ideas and made them happen," she said. "He created Disneyland just from wanting to entertain people of all ages at the same park. At the time, it was a leap of faith to build a theme park, and he had to convince a group of investors to build a hotel. And those investors made tons of money."
How to tell the CU story? Thanks to their connection to members, Fitzpatrick said credit unions have a story to tell, which is different from most big companies. "They help people get their first house, they help people build for retirement."
Online Content
Fitzpatrick cited a Claremont University study that found an image boosts the credibility of content by 75%. She suggested credit unions find images that help tell their story, with the following tips:
- Be consistent. Use the same tagline on images. Always include website and phone number on social media bios. Coca-Cola has had one logo for years. Target always looks the same.
- Send a clear message. Tell the credit union’s story. Say who you are and what you do.
- Build drama. Let people know there is a special event coming up.
- Invite guests into your story. Have two people from the staff explain mortgages. Some people might not want to be on camera, but many will enjoy it.
- Share the spotlight. Use member pictures on Instagram.
- Create a hashtag that is easy to remember.
Summing up the importance of slowly but surely building these relationships, Fitzpatrick quoted Ed Catmull: “Fear can be created quickly; trust can’t.”
