Credit Union Geek

Marketing, Strategy, and The Force by Joe Winn

Tag: twitter (page 1 of 3)

Insights In 160 Characters…Or Less

Full posts are overrated. Ok, that’s not true. They are essential to delve into an issue beyond surface discussions. However, there’s also a time for brevity. Short and sweet, as you could say. I’ve found that much of my best wisdom has originated, spur of the moment, in a Twitter post or reply. If only I were as witty and intelligent in the rest of my life!

There has been a trend lately in terms of topics discussed, both for myself and the industry as a whole. Social Media and Big Data. I’ve written a lot of articles about both, but, let’s be honest. You wouldn’t read them even if they were linked here. However, I might get you to read a series of tweets which spur some new ways of thinking. Ready? Too bad…we’re off!

Social Media

On replying to online criticism/comments:

On producing content your members want to see:

On the difference between good and unique:

On catching attention, in almost any way you can:

On what (actually) makes credit unions different:

On reminding us all that failing is ok, too:

Finally, on being *that guy* in the conversation:

Big Data

On using for “any and all purposes”:

On understanding what you’re looking at:

On realizing nothing really has changed:

On having my A/C replaced:

Did any of those short statements/replies educate, inspire, or convince you of their importance? There’s always more where they came from. Simply follow me on Twitter @JoeCUGeek or comment on the post to start a new conversation!  I tried to share tweets which did not link to long reads, but some do slip through (most of mine go to something to dive deeper).  Also, I realized that searching through 4,000+ tweets is a pain for me, but a victory for you!

Bonus for reading to the end (or just scrolling to the bottom):

The Interview Which Began With A Tweet

Originally published on CUInsight.com

A few weeks ago, I stumbled upon a series of tweets from a credit union member to no one in particular. That I saw it at all amongst the mass of data is odd. But here’s where it gets interesting. The member had an issue with their credit union, Idaho Central Credit Union, and said so in a tweet. They didn’t @ mention the CU or # them, either. So, really, there was no simple way for the credit union to ever know about it. The member was, for all intents and purposes, yelling into an echo chamber.

But the credit union did reply. And thus the origin of this post.

After seeing how the credit union located this member and solved their problem (all through Twitter), I contacted them directly. Unsurprisingly, their Twitter account had a friendly reply, wherein they referred me to the social media/marketing director, Lisa Davis. The following is an interview conducted with her. This credit union, and their team, get social media. I wanted to help them share this strategy with you.

Joe Winn: Good afternoon and thank you for taking the time out for this discussion! As mentioned, I recognized your social media efforts were far beyond the norm when you plucked a member complaint out of thin air (in a sense) for resolution. How did you do that?

Lisa Davis: I work with a couple of systems to grab any mentions of us – monitoring a number of different keywords. We really want to keep tabs on what is being said about us (good and bad) on social platforms, news articles, review sites, etc. We go after negative comments and try our best to turn them around. This is not just great for our members, but is a wonderful way to display how amazing our customer service is to those watching that are potential members.

Winn: I sure was impressed! From their posts, it seemed the member was as well, which is what really matters. What spurred ICCU to develop a social media presence?

Davis: We felt and feel that social media is a great way to connect with members and potential members.

Winn: I agree. How did you inform your members it existed?

Davis: We started off with just a Facebook page and did some fun promotions—contests and whatnot to gain followers. We also had “Like us on Facebook” stamps made up for the tellers to spread the word. Now, we advertise all of our social platforms in the branches on the screens behind the teller line. In addition, we do run Facebook/Instagram ads.

Winn: Engaging the “what’s in it for me” mentality is a good strategy. Of course, I’m sure it wasn’t all roses and massive follower adoption. What missteps (if any) did you encounter as the system grew?

Davis: In the beginning, we weren’t catching as many mentions since people use a variety of different names for us. This is what prompted us to look into monitoring software – which has proven very useful, especially since as we continue to grow, mentions are growing as well.

Winn: So that would be how you caught this member’s complaints to no one in particular. Given a member can ask anything online, is the social media platform effort engaged with all CU departments, or just routed through a specific team?

Davis: I manage all things social, but work with many teams to accomplish our goals. For example, we strive to follow up with anyone who has an issue or a question – whether they request follow up or not. Based on the question or concern, I facilitate these through the appropriate team member and then make sure the person has been contacted and then follow up on our social channels so the public can see that we have addressed it.

Winn: Sharing these resolutions is a smart move. It’s like when a restaurant responds to reviews on Yelp. Always makes me feel like they truly care. How do you feel member support and outreach will grow in this medium? Will it become just another option for members, or will it begin to replace existing platforms (live chat, phone, e-mail, even in-person)?

Davis: I feel that [social media as a member support and outreach medium] will continue to grow. (emphasis mine) As we…grow, we have definitely watched our member interaction through social channels grow. We have some members who use social media as their primary way to connect with us – to inquire about a new product, provide feedback on a recent interaction, or ask a question about their online banking. Social never really shuts down for the day. Although, it is not expected, if I get a question at 10pm on a Saturday night, I’ll answer it. Our members know they can count on us through social to at least get feedback that their question has been passed along to a team member who will get in touch with them shortly after the opening of next business day. I think this makes them feel more connected to us and builds a level of trust and security knowing they have a place to go with a question or concern 24×7. (emphasis mine)

Winn: Well, I’ve definitely gained a level of trust through this discussion. Thank you again for your time and for sharing these insights! I’m certain readers from other credit unions will enjoy learning about your strategies and the passion committed to making it the best it can. This reflects, as you intended, positively on Idaho Central Credit Union.

Follow Idaho Central Credit Union directly through their Facebook, Twitter, and Instagram pages! Visit their site for even more ways to connect.

So, fellow geeks (and honorary geeks)…what did you think of this interview? Want to see more discussions with your peers? Let me know in the comments below!

Image credit: http://freshspace.co/blog/wp-content/uploads/2013/05/Twitter-Help.jpg

It’s A Party, But Who’s Invited?

Originally published on CUInsight.com

Is your social media presence harming your image? More at 11.

Oh yes, folks. We’re talking social media. Again. In more than 140 characters. That’s a Twitter reference for those of you preferring to communicate in more traditional methods. A practice which, sadly, appears to be gaining more aspects of “web-speak” every day. No I will not abandon my capitalized letters and appropriate use of a semicolon!

Sorry, where was I? Oh yes, social media and its potential impacts on your credit union.

When it comes to communicating with your members on account information, what’s your preferred method? Phone, in-person, e-mail, or traditional mail? Like Luke in Return of the Jedi, you may not be aware that…”there is another (Skywalker).” Social media can be an alternative for those who prefer it. I’m not suggesting you handle money transfers and loan applications through Twitter (yet, seriously), but there are a number of markets taking advantage of the technology. One which has done an incredible job is the airline industry. Consider this: I was on a JetBlue flight with WiFi and tweeted that my seat’s headphone jack didn’t work. As a result, I could not watch the in-flight TV or listen to SiriusXM. Within a minute, their official support account answered me and asked to continue the conversation in a DM (Direct Message: a private chat, similar to a text message). I obliged and was then prompted by the agent to provide my name and confirmation number. After a few minute exchange (while still sitting in the seat, mind you), they issued a courtesy credit for the inconvenience on my account. Resolved at 35,000 feet.

Another time, and this one pains me to admit, I had issues with my Comcast internet service. I tweeted as such, @ mentioning Comcast (using LTE mobile data when needed). Within a matter of minutes, an agent from their official support account got in touch. They too DMed me requesting my account #. “Woah!” you say. Yes, they deem the Direct Message feature of Twitter to be secure enough to transfer most customer information (most social media platforms also use a Verified Account badge to ensure you’re communicating with the “real thing”). After a few messages back and forth, they identified the issue and resolved it. Do you realize what that meant? I didn’t have to be on the phone with them at all!

I enjoy reading tweets from many credit unions. If you’re one of them, congratulations for sharing valuable information with your members and the world at large. If you haven’t yet joined, that’s ok. You’re not alone. And when you’re ready, you’ll be armed with the knowledge to go at it in the best way possible!

But as much as it can help your institution, there are risks involved. We’re not talking poor underwriting standards causing an implosion of your debt ratios. We’re talking something far more important…your image (social media is much like Hollywood in that respect). Whether you decide to go in-house or a 3rd-party, the rules are the same. Most of the best practices involve just being rational. Don’t share private member information, don’t post things which can be interpreted as insulting, etc. If you wouldn’t send it to your mom, don’t hit Tweet.

Of course, there’s always the risk at being caught up in something which has errors you missed. For example, a few weeks ago, a tweet was shared by Co-Op Credit Unions (@innovatebanking) discussing strategies to increase your savings. Seems to fit, right? Unfortunately, their tweet (since corrected) read, “How to save $100,000 in a year. (link to article)” Wow! I need to know this…now! Not surprisingly, the post was incorrect. Rather, the link described ways the average American can save $10,000 in a year. “What’s an extra 0?” As a financial institution, you should know the answer to that question…a mistake you cannot make. The craziest part? This tweet has 18 retweets (users who shared it to their followers) and 14 likes, yet my reply was the only one calling out the error. Please never be “that guy (or gal)” who retweets or likes something with such blatant errors! It can tarnish your own brand. How? Consider it from your member’s perspective: “How can I believe the claims my credit union makes when they didn’t even bother to check an obvious number error in something they shared, ie. represented as their own?

UPDATE: Co-Op Credit Unions has issued a corrected tweet, fixing the typo. And this is what makes all the difference, because…Generation Z (your youngest and future members) see social media as a way of getting information, not just a tool to communicate with friends. If your information is wrong, how will they regard your ability to help their financial situation?

UPDATE 2: It happened again. During today’s #NCUAChat (great Twitter discussion), the NCUA (under their username @MyCUgov) shared a graphic with 3 tips for financial safety online. A good thing. Except their graphic was so riddled with typos, spelling errors, and bad information that it could be deemed more harmful than good. Unless they were aiming to be ironic – “See, this is the kind of thing we want members to look out for!” Though government agencies aren’t often ironic. And, surprise! Many wonderful people and groups shared it to their own followers. Did anyone read it first? (Probably not…a previous post discusses how liking or sharing something means you’re less likely to read it) Once again, don’t be those people! Share with care!

So, a review:

  • Social media is now being used as an effective customer support tool for industries with some of the poorest records in the category. Yet they make it work. How is your credit union embracing this new opportunity? Perhaps a mention of the strategy during longer hold times or on your support/contact page. What do you need to do to balance security requirements with member convenience?
  • A new outreach venue offers massive opportunities, but can also hide unique risks. Is your in-house or outsourced team on the same page, aware of credit union strategy (yes, include them in your planning meetings)? Are they trained to catch typos and other errors, politely pointing them out or editing after discovered?

Your social media feed is unlikely to be featured on the 11 o’clock news, but, if it is (congratulations to your marketing team), make sure it’s for the reasons you want!

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