Credit unions are still lagging behind when it comes to moving forward into the 21st century. Attracting younger members is proving more challenging than a lot of financial institutions expected and finding ways of appealing to Millennials is paramount. Harnessing the power of social media, as well as an online processor for credit union payments, is vital in today’s increasingly Internet-obsessed society. So, here are some tips to bring credit union organizations up to date.
Whether creating a credit union website or using social media platforms, this is a great opportunity to use visual appeal to your advantage. Research has shown that content that is visual in nature is more than 40 times more likely to be shared on popular social media platforms than any other kind of content.
Posts that are text only may work once in a while. However, to be really successful, there needs to be something to catch the eye – videos and infographics are ideal for this. Photographs of employees are also useful, as well as posts that are humorous and inspirational.
Making It Personal
Engaging your audience is key when using the power of the Internet, and personal stories work well to attract interest. By sharing tales of communities, small businesses, and lives being improved by credit unions, organizations can gain attention.
Listening to The Audience
It is very easy to be all talk when using online platforms. However, listening to your target audience is important. By monitoring comments and taking on board feedback, you can improve the members’ experiences.
Contents and Quizzes
Consumers are always on the lookout for interactive and fun ways to connect with their service providers online and via social media. Quizzes, deals, and contests are great for this.
Use the Power of Advertising
Unfortunately, it appears Facebook’s organic reach is dead in the water, and evidence has shown that unpromoted content will only generate approximately 90 interactions on average. This compares with almost 2,000 interactions when it comes to promoted content. Therefore, if your credit union is using Facebook, running ads isn’t just advisable, it is a necessity.
Taking A Stand
Social issues are rife on social media, so don’t be afraid for your organization to take a stand. Whether it is about immigration or LGBT rights, taking a line on relevant issues of the day can really make a powerful impact. Although there is always a risk that you could alienate some of your members or would-be members, you may well find that the payoff is worth it.
Strategy Comes First
Too many credit unions leap into using social media and online platforms before planning a strategy for their approach. It’s important to have a clear outline of what you want your organization to achieve via its social media content before launching into using Facebook, Twitter or Instagram. Whether you want to monitor member sentiments, provide engaging content or make members aware of your products and company culture, you need clarity on this to make your strategy successful.
Online Payment Processing
In today’s increasingly online world, offering members the opportunity to make their payments via a web payment portal is one of the best ways of appealing to younger members. Millennials don’t want the hassle of having to actually go into a branch to make a payment or mail a check. Offering a convenient IVR system or online processor for credit union payments allow members to make their payments at any time of the day or night using their preferred method. It also brings credit unions up to date.