Social Media Strategies for Credit Unions

August 21, 2020 Categories: Banks and Credit Unions, Branding, Customer Experience and Engagement, Marketing Strategies, Technology and Mobile Tags: , , ,

How Credit Unions Can Use Social Media Effectively

5 Tips to Enhance Your Credit Union’s Social Media Strategy

Now is the time to bring your credit union’s social strategy front and center. According to a recent Nielson study, social media usage has substantially increased during the coronavirus pandemic. In addition to having more eyes on the web than ever before, social distancing and limited branch access have made social media platforms the ideal channel of communication for financial institutions. Enhance your credit union’s current social strategy with these five tips:

Social Media Tips for Credit Unions

1. Create Compelling Visual Content

Adding original video and infographic content to your credit union’s social platforms will generate organic engagement by increasing views, driving more traffic to your website and aiding in the understanding of your products and services. 

  • Increase Views: In a “scrolling culture,” it is important to stand out. Posts with images or videos get more views because they are more eye-catching than plain text. 

  • Drive Traffic to Your Website: Linking original content to your credit union’s website will help drive more traffic and increase member conversions with clear-cut calls to action. 

  • Increase Understanding: People tend to retain more information when visuals are incorporated. Including 10 - 30 second videos and colorful infographics used to make your credit union content memorable. 

2. Display Your Vibrant Company Culture 

Connect with your audience on a more personal level. Employees are the best brand ambassadors for your credit union’s social strategy because consumers overwhelmingly trust people more than institutions. Include company culture in posts by sharing employee spotlights, promoting employee programs and sharing team service projects.

  • Spotlight Employees: In addition to building employee morale, recognizing your credit union team members on social media will humanize your overall brand. 

  • Promote Employee Programs: Highlight any scholarships or programs offered to employees, helping their work and personal lives. Happy employees attract new members and new applicants, simultaneously helping your credit union expand its audience and its team. 

  • Share Community Service Projects: Consumers are drawn to philanthropic institutions. Sharing content about giving back to your credit union’s community will enhance member loyalty while aiding internal team building. 

3. Include Reviews and Testimonials

Your current and potential members are looking to reviews and testimonials for advice on choosing their banking options. Work that to your favor, highlighting satisfied member reviews and partner testimonials. 

  • Satisfied Member Reviews: Create an eye-catching graphic to share satisfied reviews from current members. It is an easy way to create new content with existing information.

  • Highlight Partner Testimonials: Leverage the brand reach of your business partnerships by promoting their testimonials about your credit union. This will not only help expand your audience but also legitimize your credit union’s brand. 

4. Regularly Share Product and Service Promotions

Schedule product highlights and service promotions to share on a regular weekly or bi-weekly basis. Your followers will become accustomed to looking for these updates and it does not require a large marketing budget. 

  • Product Highlights: Create simple ads and short videos for products and services to quickly get information to your followers. Focus on the main takeaways and link back to your credit union’s website for more details. 

  • Share New Promotions: Target potential new members with promotions, such as free Checking and Savings accounts or sign-up bonuses. 

5. Engage with Surveys and Giveaways

Better serve your members by collecting feedback and rewarding their engagement on social media with different giveaways. Surveys help gauge member satisfaction and creating fun contests with prizes encourage members to continue participating. 

  • Host a Survey: Sharing a survey on social media is a cost-effective way to gain feedback and connect with your audience while collecting valuable data. Encourage more engagement with a giveaway. 

  • Prizes and Giveaway: Creating contests or drawings with prizes and giveaways are an opportunity to showcase important messages, products, services and more. Be sure to research and follow the rules and procedures for each social platform. 

Equipped with new tools to take your social strategy to the next level, you are ready to start a plan and begin implementation. All these changes will add up to make a big impact. 

For more tips on enhancing your credit union’s social strategy or information about FSSI’s full-service member communications solutions, request a complimentary demo today or contact an FSSI Credit Union Specialist at 714.436.3300.

Sources:

  1. https://www.axios.com/social-media-overuse-spikes-in-coronavirus-pandemic-764b384d-a0ee-4787-bd19-7e7297f6d6ec.html
  2. https://www.figrow.com/blog/types-of-social-media-content-your-credit-union-must-be-sharing
  3. https://sproutsocial.com/insights/social-media-for-banks/
  4. https://www.bankbound.com/blog/online-reviews-vital-banks-credit-unions