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Social Media – Here to Stay! How Your Credit Union SHOULD Be Using It! Presented by: Sean McDonald

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Presentation on theme: "Social Media – Here to Stay! How Your Credit Union SHOULD Be Using It! Presented by: Sean McDonald"— Presentation transcript:

1 Social Media – Here to Stay! How Your Credit Union SHOULD Be Using It! Presented by: Sean McDonald

2 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.

3 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!

4 The Generations Defined… GEN X – born between 1967 – 1981 GEN Y – born between 1981-1992 GEN Z – born after 1992

5 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.

6 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

7 Characteristics: Gen Z Highly connected Advantage AND a Disadvantage House Arrest! Being raised to expect convenience and instant gratification

8 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.

9 Social Media IS NOT…. A sales tool. A replacement for marketing. A passing fad. Advertising. Without its share of challenges…..

10 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.

11 Connect…. People relate to people. Emotion – the single biggest factor in consumer decision-making. Encourage involvement.

12 Create Awareness….Momentum Educate. Provide useful and relevant information. Promote learning. Let people know who you are and what you can do for them.

13 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.

14 Share Tell stories. Lets people know what your values are. Provide solutions and alternatives. Retweets, Likes, Favorites…..all comes together!

15 Build Establish a bond. Listen. Create trust between you and your members. Define W.I.F.M. Show value.

16 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?

17 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.

18 Example. Vantage CU

19 Example. Verity FCU – VerityMom

20 Example. San Diego County CU – Bankers invade SD beaches

21 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.

22 Thank You! CU Business Development Academy The most comprehensive business development training in the industry… Your Full Potential, LLC Staff & Management Training Consulting Strategic Planning www. (201) 920-9328

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