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Social Media – Here to Stay!How Your Credit Union SHOULD Be Using It!
Presented by:Sean McDonald
www.YFPTips.com
Some Numbers….
• Not going away.• Facebook – Over 1 billion users –
roughly 1/7 of the world’s population.• Twitter – 400 million + users.• Linked In – roughly 200 million users.• Google + - 500 million users.
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Why Should CU’s Care?
• Need to attract younger generations of members.
• Average age of CU Member nationwide – 47.6• A lot of talk around new tactics to attract Gen
Y.• But why stop there?• Gen X and Gen Z are important too!
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The Generations Defined…
• GEN X – born between 1967 – 1981
• GEN Y – born between 1981-1992
• GEN Z – born after 1992
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Characteristics: Gen X
• More adaptable to change• Statistically hold the highest education levels• MTV Generation• Notable events – AIDS epidemic, introduction
of computers, Challenger disaster, Iran-Contra, collapse of communism
• They don’t automatically respect leaders. Gen X demands that respect be earned.
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Characteristics: Gen Y
• The Millennial Generation • Communicate through technology• Want everything to be instant and convenient• Not as rebellious as earlier generations• Notable events – Economic growth, 9/11, Iraq
& Afghanistan Wars, Governmental friction
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Characteristics: Gen Z
• Highly connected• Advantage AND a Disadvantage• House Arrest!• Being raised to expect convenience and
instant gratification
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Social Media IS…..
• A method of communication.• A conversation starter.• An engagement tool.• A platform to tell your story.• A way to educate and inform.
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Social Media IS NOT….
• A sales tool.• A replacement for marketing.• A passing fad.• Advertising.• Without its share of challenges…..
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Social Media is used…..
• To connect with members and potential members.
• To create awareness and build momentum.• To advocate the mission of credit unions.• To share credit union values with the masses.• To foster mutually beneficial relationships with
those we serve.
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Connect….
• People relate to people.• Emotion – the single biggest factor in
consumer decision-making.• Encourage involvement.
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Create Awareness….Momentum
• Educate.• Provide useful and relevant information.• Promote learning.• Let people know who you are and what you
can do for them.
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Advocate
• No need to “sell” with social media.• Nothing wrong with letting people know
what’s happening.• Get people talking to you but, more
importantly…..get them talking about you.
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Share
• Tell stories. • Lets people know what your values are.• Provide solutions and alternatives.• Retweets, Likes, Favorites…..all comes
together!
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Build
• Establish a bond.• Listen.• Create trust between you and your members.• Define W.I.F.M.• Show value.
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Have a Plan
• Define the “what” – which tools will you use?• Assign the “who” – which employees will be
responsible and accountable?• Determine the “how” – create goals and
tactics. How do you want to measure the effects?
• Answer the “WHY” – what do you hope to achieve?
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More numbers….
• Approximately 65% of credit unions are currently using social media in some capacity.
• By the end of 2013, more than 90% will have some sort of social media presence.
• Let’s look at some examples of SM in action.
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Example.
• San Diego County CU– Bankers invade SD beaches
Social Media….
• Is a catalyst to increase momentum, increase awareness, and engage the community.
• Can open up channels of communication in the ways that younger generations prefer to communicate.
• Is well worth the “investment.”• Is simply expected now.
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Thank You!
• CU Business Development Academy
• The most comprehensive business development training in the industry…
www.cubdacademy.com
• Your Full Potential, LLC• Staff & Management
Training• Consulting• Strategic Planning
www. [email protected]
(201) 920-9328
