What It Takes To Be Successful
GLASTONBURY, Conn.-It is critical to reach out to the next generation online, as they are nearly four times more likely to solicit financial advice from a social networking site or a blog compared to the national average, according to a 2009 Raddon Financial Group study.
But Deborah Katz, VP of Corporate Marketing at Open Solutions reminds credit unions that the challenge is steep.
"Make sure you have a well-developed Web 2.0 strategy in place to attract and retain these members," she said.
"To be successful you will need to commit enough time and resources to both mapping out a well-thought out plan and to the everyday maintenance of these sites. Garnering new members means spending time identifying potential leads on a proactive basis... As consumers quickly become accustomed to using social networking for information, credit unions must look beyond traditional communication and marketing methods and leverage the Internet to more appropriately and successfully reach these market segments."