Campaigns and Credit Unions: "Change" Your Approach

Social media and micro sites have played a vital role in connecting people with candidates throughout the campaign process. Even now, with the beginning of a new presidential term, these marketing tactics are being implemented by companies (and the government) to connect politically with people. Using modern and innovative techniques to raise awareness took these marketing campaigns from average to viral.

No matter what your political preference is (or if you even have one), credit unions should take note of these marketing tactics. Use these large scale campaigns as a jumping off point and follow two rules: 1.) Scale it back significantly to fit your credit union size and 2.) Make it your own...personalize your campaign in a way that speaks to your community (an example of this is Security One FCU's Experience Change 2009 micro site*). Here are a few ideas worth reviewing:

• Connecting with the country in an updated way, New White House Web Site.
  
• First, this micro site encourages Americans to speak their mind to the new president and now, it's staying current with a SuperBowl focus, Pepsi's Refresh Everything.
  
• Action followed by a free reward generates brand awareness, Free Starbucks Coffee.
• Schipul highlights the important role of social media during the Inauguration, Social Media Inauguration.

Implementing similar strategies on a smaller scale gives credit unions the opportunity to connect with current members and expand their reach to new audiences.

*Disclaimer: Security One FCU is a PTP NEW MEDIA client.

Are You Guilty?

When it comes to providing products and services for credit union members, are you truly focused on their wants and needs, or letting internal assumptions drive direction and development? When was the last time you asked the members their thoughts? Their desires?

Take a moment to read Rita McGrath's "Why a Good Cup Holder is Hard to Find", compliments of Harvard Business Publishing.

Guilty of assumptions? Do you really know what will attract new members? Are you meeting the needs and wants of your existing members?

What are you doing to make sure your credit union products and services hit the target when it comes to attracting, retaining and serving members?

WWUP- What would you pick?

I am currently serving on the Texas Credit Union League Youth and Millennial Task Force. One of the tasks we have at hand is to create a new tagline for credit unions. Currently some of the taglines used for credit unions are "People Helping People" or "Where People are Worth More than Money." Although, these are true they do not resonate to the majority of the youth market, who is unaware of what a credit union really is… So, if you had to pick a new tagline for credit unions that would captivate the younger mind, what would you pick? Below (not in any order) are a few that I have played around with for fun. Blog back and tell me some of your ideas for a new tagline. Who knows it may be the new tagline for the industry.

• $-greed= credit unions
• Wanna be cool? Join a credit union.
• Bail Out Free since 19__...
• Why make others rich? Join a credit union.
• You have a choice- credit unions.
• Ready for a change? Join a credit union.
• If you like to own stuff- Join a credit union.
• Credit Union = Economic Justice
• Some places let you keep the change- We let you own it- Credit Unions
• We are old school cool- credit unions

Mike Garibaldi-Frick: Transform Banks into Credit Unions

I saw this article and just had to post it.

Mike Garibaldi-Frick: Transform Banks into Credit Unions

Posted using ShareThis

Marketing Outside of the Traditional Box

Let's combine the idea of a resolution with a promise to think outside of the box this year. For credit unions, traditional marketing strategies may not be the key to the results you want to see in 2009. There are several types of non-traditional marketing strategies that you may want to explore and add to your 2009 marketing plan. Many credit unions have already implemented one or more of these strategies with success. It may seem daunting to jump in the water when you are not quite sure how deep it is, but the reward for originality usually outweighs the risk.

• Word-of-Mouth Marketing (WOMM): If you are not familiar with this, then read this right now! WOMM is not a new concept, it just never clicked with marketing folks that the best way to build your brand and its creditability is through the simple act of reaching people by talking to and with them. There are numerous ways to implement WOMM, and as an added bonus, WOMM can be significantly less expensive than traditional marketing. This type of marketing allows you to be extremely creative and original, making it a useful tool that can differentiate your credit union from the rest.

• Social Media: First, actually learn what social media is (ask your kids) and then use it! Encourage your employees to explore the world of social media. If you are at social media square one, then here is a list to familiarize you with what's out there: Facebook, MySpace, Twitter, YouTube, Friendfeed, SlideShare, Digg, LinkedIn, Wordpress, Blogger, Remember the Milk and Flickr...just to get you started.

• Updated Web Site: When was the last you time your web site was updated? Your products and services are constantly changing and your web site should reflect this. In addition to keeping the information current, the design is also important. Members want an appealing, easy to navigate web site that is convenient to use (this refers to load time for the web site as well as options such as mobile and home banking) and efficient. Take the time to explore your credit union web site...do you actually like it and is it easy to use? 

Resolve to try one or more of these options to build better relationships with existing members as well as bring in new members in 2009.

Increase Your Credit Union Service, Make Members Happy...

...and bring them back for more. Seth Godin reminds us one of the easiest and most cost effective ways of doing this is so old fashioned.

Call you members.  Or better yet, have your MSRs and loan reps write notes to mail off during periods of down time.  Ask, “Is there anything else we can help you with during these rough economic times.  We want to work together to see this through with you and are your team.  Please feel free to call me anytime if there is anything we can help with.”

You can even take old fashioned service, and make it fashion forward and “tweet” to your members.  Or begin blogging and communicating in a real and personal way.  Don’t just sell a product or service.  Sell a memorable experience that connects with your members on an emotional level. 

Members are not going to remember a savings or loan rate.  They’re going to remember someone at your credit union, who connected with them and went above and beyond the status quo.

So what are you doing to connect with members in a cost effective way?  How are you reaching members on a personal level?  Shout back and let us know.

Going Above and Beyond with Your Members

What does it mean to go above and beyond with your members? To highlight an example of this, here is a true credit union story between an employee and a member.

Let’s call the member John, a 92 year old retiree, and the credit union CEO is Pam. John was having quite a hard time recently, his wife had just passed away after a long battle with cancer and to be able to pay for treatment, John went into significant debt. To try to keep his head above water, he took loans from the corner “quick cash” lender and was taken advantage of. Beyond this, John’s daughter was having a tough time, so he loaned her money to help her out. Now, John was at the credit union trying to get a loan to pay for all of this, he was “borrowing from Peter to pay Paul.” John had been through a lot and needed more than just a loan, he needed help.

This is where Pam steps in to save the day. Pam helped John to not only secure the loan that he needed, but she also setup a financial plan with him. She took the time to work with him to develop a strategy to get rid of his financial problems. Pam could have just lent him the money he needed and sent him on his way, but she knew that she could really help John. Pam is but one example of the many credit union employees that take the time to listen to their members and give them the help that they really need.

Going above and beyond for your members, especially in times of financial crisis, is one of the best ways to establish a lasting relationship.

 

Accountability: By the People!

An avid fan of "QBQ! The Queston Behind the Question - What to Really Ask Yourself to Eliminate Blame, Complaining and Procrastination" by John Miller, I felt compelled to share today's "QBQ! Quick Note" story about customer service....

Accountability: By the People!

In January 2001, in his inaugural address, President Bush spoke of ushering in an "era of responsibility." Eight years later, President Obama declared that we need a new "era of responsibility."

Now don't get me wrong—these declarations are all well and good and are certainly nice things for a president to say—but personal accountability surely doesn't start with words from Washington. It's not a presidential proclamation; it's a practice by the people. Actions by me—and you. You see, it's the people asking better questions, making better choices, and acting accountably that gives this great Nation our strength.

In the QBQ! book we tell the fun story of Judy titled, "Thanks for shopping at The Home Depot!" But today we talk about Laurie, from that same fine organization. This picture of personal accountability comes from Leslie, a trainer in the construction industry and a QBQ! QuickNote subscriber. Enjoy!

John G. Miller

John, several years ago I went to The Home Depot and purchased a large amount of expensive carpet for my home. A couple years after it was installed, a friend of mine—who knows flooring—noticed a defect in the carpet. I called The Home Depot and reached a gal named Laurie Lawler. After I explained what we found, she called the manufacturer who wanted their own expert to have a look. He came, he studied my carpet, he left.

We heard nothing for a few weeks, but Laurie remained diligent on my behalf. Finally, the manufacturer said they would replace the carpet ... for FREE! This was great news, and beyond that Laurie informed me the carpet installer would also move my furniture! Since I have a baby grand piano and a lot of heavy, solid wood pieces, this promise meant a lot to me.

I picked out the replacement carpet and a few weeks later it came in. All was well. But then the installer informed me by phone that they would NOT move my furniture—"it wasn't their job." Disappointment! So back to Laurie I went. After doing some checking, she confirmed that neither the manufacturer nor the installer would handle the furniture. But ... wait for it ... she would!

Can you imagine that?!

So Laurie came to my home with a few men and they moved my furniture. Even the baby grand!! She didn't have to do this. She could've fudged on her original promise asking, "Why are customers so demanding?" Or might've blamed the manufacturer or the installer lamenting, "When are others going to do more?" Nope, she didn't fuss or complain. Instead, she stepped up and did something that I will not soon forget; something highly unusual in today's world: She asked The Question Behind the Question (QBQ), "What can I do?"

Said differently—she followed through.

And on top of all this, I learned from one of the guys with her that the day she was at my house moving furniture was actually her day off. And, it was the day before Thanksgiving!

I must say, thanks to Laurie's example, I find myself checking my own actions. Would I have done this? Am I that accountable?  Do I follow through? Are there any promises I need to fulfill?

What a great experience. Consequently, I have written The Home Depot praising Laurie and committed to shopping at that store for life! I am still amazed by the personal accountability of Laurie Lawler.
-----------------

Yes, Leslie, personal accountability is all about the practices of the people—nothing more, nothing less. Laurie sets a fine example for us all. And let's not forget, in today's world—in today's economy—Laurie is what we call a "keeper." Odds are, she'll continue to be at The Home Depot helping people.

John G. Miller

Author of QBQ! and Flipping the Switch

Small Gestures Make a BIG Difference in 2009

Rushing in and out as quickly as possible is probably what many of your members are doing right now when they walk into your credit union. They are in a hurry, with a list of fifty things to do and want a quick credit union experience. Now, it is important to note that “quick” does not mean curt or impolite. This quick experience can still be personal and polite. There are simple ways to incorporate that extra common courtesy to connect with your members. The English Web has a great list of reminders for employees to take a look at, especially as the new year gets underway. Also, incorporating simple gestures of kindness can bring a smile to even your busiest members. Here are several ideas that your credit union can start doing TODAY for your members:

• Instead of having a coffee sitting out, have an employee pouring cups of coffee, hot chocolate and apple cider and hand it to members. This simple gesture partnered with a heartfelt “Have a great day” may be just what your members need.
• Have your employees amp up their “thank you” after completing a member transaction to “thank you for being a member with us” or "we hope you have a wonderful afternoon" makes a world of difference.
• Instead of that sad basket of mints or mini chocolates sitting out, have employees hand members the candy (make sure to have sugar free candy on hand for those members with "get in shape" resolutions)  with their receipts.

So, begin integrating these small gestures of kindness to build lasting relationships with your members!

Credit Union Blog Talk Radio Review

If you missed the first episode of Blog Talk Radio... we've got you covered and you can listen to it below.

As the voice of the Texas Credit Union League, CEO Dick Ensweiler chatted with John Tippets, long-time leader of American Airlines CU.  The duo discussed today’s economic climate and how it’s impacting American families. 

They also looked at how credit unions are serving as a stabilizing force in the financial sector... specifically, how the credit union structure has enabled this industry to weather the economic storm, and how consumers benefit from credit unions’ presence in the financial services industry.

Be sure to check out the next episode of “Your Money, Your Matters” at Blot Talk Radio.

Credit Unions Featured on Blog Talk Radio

The airwaves will soon be occupied, the studio will soon be broadcasting and the World Wide Web will welcome the first of many talk radio programs courtesy of the Texas Credit Union League (TCUL).  As the voice of TCUL, CEO Dick Ensweiler will hold his first live monthly radio program at 4:00 p.m. (CST) on Jan. 14, through Blog Talk Radio, a social radio network that allows users to connect quickly and directly with their audience.

“Credit unions have been America’s best kept secret for far too long.  We are a stabilizing force in the U.S. economy, but we are often overshadowed by our for-profit counterparts,” notes Ensweiler.  “We have a great story to tell and we need to do more to let the public know that we are here, we are financially sound, and we’re ready to serve.”

Capitalizing on his vast and diverse experience and knowledge, Ensweiler’s “Your Money, Your Matters” program will inform and educate the public on a wide array of issues related to personal finance, such as asset building, retirement planning, investments, etc. In addition Ensweiler will take advantage of this opportunity to address current issues, including the economy, financial marketplace and credit unions in general.

“If we want to be a part of the conversation, we can’t wait for an invitation.  We have to inject ourselves into the conversation.  Social media is a valuable business tool and a cost-effective way for us to reach the masses,” Ensweiler continued.  “Hosting a program on Blog Talk Radio affords us the opportunity to let the world know who we are, and gain insight into how we are empowering families and impacting communities.”

Joining Ensweiler in his debut program, “Credit Unions Help American Families Ride out the Economic Storm,” is John Tippets, long-time leader of American Airlines CU.  The duo will weigh in on today’s economic climate and how it’s impacting American families, as well as explore how credit unions are serving as a stabilizing force in the financial sector. Specifically, they will discuss how the credit union structure has enabled this industry to weather the economic storm, and how consumers benefit from credit unions’ presence in the financial services industry. Ensweiler and Tippets will invite listeners to learn how credit unions strengthen families and communities, and what differentiates credit unions from their for-profit counterparts.

The 30-minue program begins at 4:00 p.m. (CST) on Jan. 14.  It is a live program, and to tune in, simply go to http://www.blogtalkradio.com/tcul on the day and time of the broadcast, and click “play/chat.”  The program allows for chatting amongst listeners, as well posing questions either online for via call-in, at (646) 929-1020.

Does Your Credit Union Offer a Dream Job?

What attracts people to work at your credit union? Is it a “cool” place to work?  While a lot of emphasis and discussion has taken place about getting Gen-Y to join your credit union as members, what about getting Gen-Y to join your credit union as an employee.

How can you work to attract Gen-Y members when you may not even have Gen-Y staff who can relate to them? 

Check out this dream job I came across this morning.  What an opportunity to “own” an island for six months and blog about the experience and get paid six figures for it.

The reason for the “dream job” is part of a drive to protect the state's 18 billion Australian dollar a year tourism industry during the tough economic climate caused by the global financial meltdown.

"Traditional tourism advertising just doesn't cut it sometimes and we are thinking outside the box by launching this campaign.

Queensland Tourism Minister Desley Boyle said some people might question whether it was risky to let an unknown person become an unofficial tourism spokesperson for the state.

"I think the biggest risk will be that the successful candidate won't want to go home at the end of the six months," she said.”

The above quote sounds close to home with credit unions asking the same thing about blogging and social media.  Is it risky?  What if people talk bad? Will it hurt my brand?

Why not make social media and blogging a “benefit” of working with your credit union? This would surely attract some Gen-Y folk. 

We have a very modern and progressive culture that may clash with the traditional credit union culture.  There is really no dress code (come as you are), listen to your iPod if you want, and enjoy happy hour Friday.

Like marketing, traditional vs. non-traditional, it is important to use different ways to actively recruit Gen-Y employees.  I know a lot of up and coming CU folk who are my age and younger which is so exciting.  They are doing different things and energizing their credit union in ways never been seen before.

Shout back below and let us know what you are doing to attract Gen-Y employees?  What benefits and opportunities do you offer them?  What "dream job" does your credit union offer? We want to hear from you.