Generations, Connections, Stories

A co-worker was seeking a speaker to fill a conference slot. The names she was considering were new to me. I did a Google search to see what their footprint would tell me about them. (What would a Google search say about you? I digress, that’s a different story.) In addition to seeing how active the individuals were in the credit union movement, I found Twitter and LinkedIn profiles. Connections were made.

Josh Allison, CUDE, was selected to fill the presentation slot. I looked forward to meeting him and having a chance to visit at the conference. Our Twitter connection already “broke the ice”.

Based on our conversations, Josh recommended a book he thought I'd be interested in. He was spot on. We discussed the book. We communicate via Facebook, Twitter, email, list serves, talk on the phone, and in person when we have the opportunity. With each connection, our relationship grows. With different knowledge, experience, and passions, we have opportunities to mentor each other.

Different Generations/Perspectives + Shared Passions = Opportunities to Make a Difference

Fast Forward…Clearing out the inbox on a Friday afternoon, I came across an email Josh sent out through the Credit Union Development Educator (CUDE) list serve. With his permission, I’m sharing his story with you:

Good afternoon DE network.

This week, I was watching a variety of www.Bizkids.com videos for an educational project we are working on. I was watching the episode on Social Entrepreneurship. As I watched, the video clips would highlight young adults who had started community nonprofits. They would share why they started their respective nonprofit organization, their socially minded business, or the cause they chose to champion. Causes that included TayBear, Richards Rwanda and Room to Read.

A reoccurring theme ran through all of these videos.

They told a story.

Not any story. Their story. They explained why they took up this cause, and what moved and impacted them. They didn’t tell me about the tax write off I would receive if I donated, who I make the check payable to, or ask how much I could spare? They simply asked for me to listen…and then passionately shared… Recently, I re-watched the powerful story from Jessica Jackley, the founder of Kiva.

Same thing.

She didn’t ask for donations, for people to join her, or to support her and Kiva…she simply shared her experience working with poverty. She shared the need she saw, the emotion she felt and the compassion that compelled her to found Kiva. And it compelled me, too. Then, I jumped on my favorite social site: Facebook. At the end of each page, Facebook politely asks me if I want to see more “stories”.

And I do.

I scan for stories, not sales pitches. Not ads. Not organizations or individuals interested in useless self-promotion. I scan and read, looking for the stories of people I know, hoping to better understand and know them deeper. We crave authenticity…

So, here’s my question: do we have an authentic story to share? I believe we do. When our members come into our credit unions, do they understand who we are, what wedid and what we do? Do they know our story?

More importantly, do we?

Are we sharing authentic stories or selling? Have we resigned ourselves to simply compete on product, price, promotion and place? I wonder, what if we stopped selling with the four P’s and started first with sharing just one: Purpose.

If you’re successfully sharing your authentic story, I’d love to hear from you!

Josh Allison, CUDE

Well said Josh!

CMBDC Twitter Recap

It was a great week last week in Vegas at the 2011 CMBDC. So many good thoughts and ideas were shared in person as well as on Twitter.  We have compiled an archive of conference tweets so that you can look back and remember what was discussed and shared or check out what you might have missed.

Is the elevator pitch, as we know it, dead?

Is the elevator pitch, as we know it, dead?

Guest post by Julie R. Ferguson

This question needs to be asked by everyone representing your credit union. First impressions are critical! And, now, more than ever, new media is driving the process.

Does Social Media Work for CUs? Let�s find out

A lot of credit unions are wrestling with the business case for social media. Others are adventuring out into the social media arena, looking to see what makes best sense for their business strategies.

Filene Research Institute has launched "groundbreaking research regarding the quantifiable impact of social media marketing strategies."

Can you make a commitment of about two hours over the next year to complete one survey per quarter regarding your marketing activities?

"The results of the year-long research will produce a statistically tested way to predict changes in membership and products per member (or, member share) based on social media activities."

"In plain English: If you keep wondering whether social media is just hype or an effective marketing tactic, this is your chance to find out. We want you and many other credit unions to participate because more responses make for better analysis. In return for your participation, we will provide you with the results of the research. Even if you are not using social media, we would like you to participate."

Credit unions have been built around people helping people. Working together is the best way for us to position credit unions forward. Hoping you make the commitment to be part of this timely project!

Be Strategic About Social Media: Find Your People, Join the Conversation

Social media, however you define it, is a changing environment. Regardless of what you call it, think about it, or the tools you use, it’s out there. And yes, the tools change. It’s not about the tools. It is about the people, relationships, value, authenticity, and conversation. It’s about growing your business and serving your community.

Make a strategic decision.

• If customers/members and potential customers/members are having a conversation which relates to your products and services, it’s in your best interest to be part of the conversation. Find out where the conversations are occurring. If they are at the local business club monthly meeting, show up. If they are on Facebook or Twitter, listen, share, and interact.
• If they are not talking about your credit union, products, or services online, no worries. Or not? Have you provided products and services worth bragging about? Has your competitor? Have your service levels slipped? Your products fallen behind the times? Do you want to know what people think? Look, listen, and learn. Be strategic about whether or not social media makes sense for your credit union and market.

If you make the strategic decision to incorporate social media into your marketing and business development plan, be strategic about what you do.

• Don’t set up a credit union Facebook page just because someone else did.
• Twitter is not a 140 character commercial. It’s a place to help people find connections, learn about cool stuff/resources, and know more about your credit union and what you have to offer. Select the tool or tools best suited for your team and your members.

Southwest CUNA Management School has two courses this summer with limited seats available to help you further explore and expand your knowledge about social media.

Social Media I: Getting Acquainted
Dr. George Low - Texas Christian University (TCU)
July 20 (1-4:30 pm) with 1st Year Students

Social-networking websites such as MySpace, Facebook, and LinkedIn have seen unprecedented growth in recent years. Consumers are creating their own content on blogs, YouTube, and are rating products and services on message boards and other sites, presenting unique challenges and opportunities for marketers to use these social media to communicate with current and potential customers, and to build lasting relationships with them. The objective of this course is to give students valuable knowledge and skills needed to take advantage of these powerful social marketing tools. Teaching/learning methods will include class discussions of current trends and issues, mini case studies, and the sharing of experiences, ideas, and best practices in using social media as part of a broader strategic, integrated, marketing communications effort in the credit union industry.

Social Media: Let’s Get Strategic
Amanda Vega – Amanda Vega Consulting
July 19 (1-4:30 pm) with 2nd Year Students

You’ve heard about social media, have been dabbling on your own, or have incorporated elements of social media at the credit union. How do you advance to the next level? It’s time to get strategic with Amanda Vega, Amanda Vega Consulting. In this open discussion that is part information and part hands-on learning, plan to explore and discuss:

• What are the challenges and successes associated with social media in the credit union industry and who ultimately owns it?
• Advanced uses and tools in social media to help you get to the next level (comment marketing anyone?).
• The executive team isn’t buying into this marketing activity or simply doesn’t “get it.” – now what? How to and ensure buy-in from the decision makers
• New research on tracking, monetization and the like (a Facebook fan is worth more than $138) and the new tools that are out there to help quantify these efforts.
• Social media compliance, regulation, and policy tips
• Taking your social media to the next level, communication as a whole, arming you with real information and engagement suggestions.

If you’re looking to develop your team or enhance your skills, plan to join us on the TCU campus (Lupton-Brown University Union). Limited seating available on a day rate. For more details, visit www.scms.coop or contact Janine McBee, SCMS Synergist & Director.

Heads Up! FTC Guides & Some Risk Factors to Look Out For

Guest post by Nadine Boisnier, Compliance Officer, Amanda Vega Consulting

The recent revisions to the FTC guides concerning the use of endorsements and testimonials has posed some questions as to what people can expect from the changes and how this affects active participants in social media. As you begin to build deeper relationships with your Credit Union customers online, here are some guidelines on what the new FTC guidelines mean for you.

 

The basic FTC changes came into effect due to the emergence, popularity and increased growth of social media. (The guidelines were last updated in 1980). The regulations were updated due to the notion that the lines have been blurred between what an advertisement is and the motives behind the use of social media. There were instances of non-disclosure from companies using bloggers to post positive reviews while receiving cash or gifts as incentives. Regulators do not agree that these types of postings are unbiased reviews. Their goal is to inform the public to understand the difference and to make sure there is full transparency.

 

Some important points to remember: Any conflicts of interest must be disclosed in postings including Twitter tweets and profiles. Be upfront with any connections or relationships you have with the company or Credit Union branch you are writing on behalf of. Other updates to the regulations include the disclosure of any company-sponsored research, stricter liability for celebrity endorsements, no more ³safe harbor² for testimonials; meaning, the term ³results may vary² is no longer sufficient when making broad claims, and disclosing results that consumers can generally expect. Remember most importantly to be straightforward and transparent.

 

In addition to these guidelines, Credit Unions should be cognizant of additional risks that can affect their outreach to the public. Make sure your employees do not improperly use social media tools. For example, impulse messaging can be dangerous, so stop and think about the repercussions of your post or tweet. From a Credit Union perspective, employees can be a threat if they post information that could impact negatively on their brand.

 

As you are building a sense of community online, make sure to include customer care in the process. You must be careful how you do this since you may deal with disgruntled customers who use Twitter to discuss a negative experience. You should avoid a back and forth match with an unhappy customer and take the conversation offline. Be sure to offer them traditional customer care channels. Other basic rules include, accessing the urls in tweets with care. Do not click on links from people you are unfamiliar with.

Also, look out for people who use stalking techniques to try to social engineering information. Most importantly, make sure proprietary business and customer information is protected. Having a strong policy in place for employees to follow is key. Every organization should have a strong policy in place that clearly states the guidelines of how it should be used by employees.

Credit Union Twitter Risks

Guest post by Amanda Vega, Amanda Vega Consulting

So what are the risks and what can organizations and users do to limit such risk?

• Data leaks of confidential or proprietary information: The information that could be leaked includes identity theft, credit card fraud, business plans, confidential data, information about internal operations of the company and availability of personnel or their schedules.

• Malware and viruses: The use of abbreviated URLs makes it easy for the bad guys to mask links to infected sites and to redirect users to websites that they would think twice about visiting. The setting up of fake services could be used to collect credentials and information from that user.

• Improper use: From a corporate perspective, employees can be a threat if they post information that could impact negatively on the business and hurt its integrity. A wrong post picked up by such a wide audience could become a PR nightmare for that business.

• Impulse messaging can be dangerous especially if the user is irate and doesn’t stop to think about the repercussions of his or her tweet. Sending inappropriate tweets is not recommended.

• It is what the end-user does with Twitter that counts. Tweeters need to pay attention to what they are doing, listen carefully and do not trust every single follower who sends them a message. Humans are the weakest link the security chain.

• Customer care: Businesses need to be careful how they deal with disgruntled customers who may use Twitter to discuss a negative experience they had. With only 140 characters at its disposal, a business should avoid getting into a back and forth match with an unhappy customer on Twitter and encourage the client to use traditional customer care channels. Take the conversation offline.

How to counter risk:

• Every business that uses Twitter or any other social media or networking site should have a strong policy in place (and enforced) that clearly states how it should be used by employees. Warn about possible disciplinary action if the policy is violated.

• Emphasize that online conduct must not violate the anti-discrimination policy or other codes of conduct. Warn that the policy must be read in conjunction with the existing Employee Handbook.

• Include a provision prohibiting any conduct that violates federal, state, or local law.

• Direct employees to bring all questions related to the policy or permissible conduct to management.

• Off Duty Conduct - Employers may have broad discretion in disciplining employees where the employer can show that the off-duty conduct has damaged the business, hurt the employer's interests, or is otherwise inconsistent with the employer's business needs.

Some basic rules:

• Think twice before posting. Employees need to think compliance, integrity, security, then post.

• Access URLs in tweets with care. If there is no real need to check out the site, leave it.

• Show employees what to look out for. How to notice when someone is stalking or attempting to social engineer information.

• Avoid confrontation on Twitter. It is a great tool for customer feedback but may not be appropriate for resolving complex issues.

FTC FINAL GUIDES GOVERNING ENDORSEMENTS, TESTIMONIALS

• Definition of an advertisement has been blurred by the use of social media.

• Advertisements that feature a consumer and convey his or her experience with a product or service as typical when that is not the case will be required to clearly disclose the results that consumers can generally expect. No more safe harbor – disclosure “results not typical.”

• Material Connections – sometimes payments or free products between advertisers and endorsers, connections that consumers would not expect, must be disclosed. The post of a blogger who received cash or in-kind payment to review a product is considered an endorsement.

• To limit liability look for authenticity – real experiences from real customers/consumers.

• Any endorsement, like any other advertisement, is deceptive if it makes false or misleading claims.

• Company sponsored research – if company refers to findings of research organization, the advertisement must disclose connection between the advertiser and the research organization.

Amanda recently presented for TCUL Annual Meeting& Expo (Grapevine, Texas). She is teaching a new course this summer for Southwest CUNA Management School (Fort Worth, Texas) – “Social Media II: Let’s Be Strategic”.

Credit Union Video Contest - Vote #8

In an effort to help spread the credit union love of people helping people, I now ask for your vote in the Young & Free video contest. Watch the campaign video below then click here to watch video number #8. Furthermore, to help you out, you can join the move your money movement and the campaign with three simple steps (WATCH, VOTE, SHARE). 

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1. WATCH - I invite you to first watch the videos that we produced for this challenge. Wanting to go above and beyond, the entire www.cuswag.com and www.ptpnewmedia.com teams came together to make something special.

We produced not one but two videos for this challenge to show our love for credit unions in addition to the microsite: www.isyourmoneyinthebank.com

Click to Watch Video #8 | Click to Watch Video #13 (the remix)

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2. VOTE - After you have watched our videos above and see our true love and passion for credit unions, I now ask for your vote. It will take only 30 seconds to cast your vote for Video #8 - James Robert Lay.

Click Here to Vote for Video #8

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3. SHARE - Once you have watched the video and have voted for video #8, I now ask you to help spread the word and share the credit union love with your friends, family and co-workers.   

You can share by sending emails, tweeting, Facebooking, texting or simply telling those around you to repeat the same three steps (Watch, Vote, Share).

CUNA GAC Twitter Recap & Archive - #GAC10

It was awesome getting to hang out and meet everyone at the GAC last week.  We have pulled out all the #GAC10 tweets from Twitter before the bird gets hungry and eats them all.

Take a look at all the innovation, communication and collaboration going on last week in DC. Wow!

Transparency, Authenticity, Honesty and Passion for Topics and Brands

Thanks go out to ConversationAgent by Valeria Maltoni for a little morning inspiration! Time to put your thinking caps on.

Transparency, authenticity, honesty and passion are commonly thought about and addressed as people navigate a wide variety of social media channels. If they are not being thought about, warning, do not pass go. Please slow down and give these areas serious consideration. You owe it to your customers, employees, board of directors, share or stock holders. What are the norms for your business environment? Your team?

Take a moment to hop on over to a blog referenced by a tweet from @ConversationAge:

Diva Marketing Blog - "Where Does 'Transparency' Fit In The New Social Media Marketing Model?" The post highlights insights from 39 people active in social media.

Questions that raced through my mind:

• Should your organization have degrees of transparency?

• Is it important for your audience to know who writes copy for your communication channels?
  To know who is responding to them?

• Do you have content strategy? Communication goals? Are you having conversations and building relationships?

• How personal should your social media, public conversations be? As work and personall communication channels blurr, when are you simply yourself and when are you representing your company? Both 24/7/365? Are we ready for that?

• What lessons have you learned?