One of the many credit unions we work with, Neches Federal Credit Union has the right idea. They are using CU*SWAG T-shirts not only as a marketing tool, but as a cool and fun way to utilize word of mouth marketing.
12 posts categorized "Word of Mouth Marketing"
You can also learn more about the tools discussed in the show below:
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!
Social media, however you define it, is a changing environment. Regardless of what you call it, think about it, or the tools you use, itâ€™s out there. And yes, the tools change. Itâ€™s not about the tools. It is about the people, relationships, value, authenticity, and conversation. Itâ€™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, itâ€™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.
- Donâ€™t set up a credit union Facebook page just because someone else did.
- Twitter is not a 140 character commercial. Itâ€™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-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.
Youâ€™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? Itâ€™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 isnâ€™t buying into this marketing activity or simply doesnâ€™t â€śget it.â€ť â€“ 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 youâ€™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.
In good old credit union grassroots fashion, two "say no to interchange" videos have surfaced this week. Both provide a fun, lighthearted way to educate your members and community about the facts of interchange and what they can do to take action.
Watch, laugh, learn, share below.
If you missed the RadioFREE Credit Union Show, you can catch it here as we discussed credit unions, social media, word of mouth and viral marketing with Jason Dias and Scott McKenna. Be sure to follow @cuswag as we played a little game giving some CU*SWAG out to those who counted the number of times CU*SWAG was said. Fun times! Happy Friday to all.