Cross-Marketing Social Media: Make New Channels but Keep the Old

Credit unions and businesses are demonstrating ways social media can bolster existing communication channels with members.

 
 

Social media is in the mass adoption stage for businesses of all sizes and industries. Despite mass adoption, many institutions fail to fully integrate social media into their complete marketing strategy, wrongly assuming that social media is a standalone channel. Credit unions have an increasing number of touch points with membership and the community. Cross-marketing social media endeavors, and vice-versa, will boost the ROI of social media spending and feed larger campaigns. Think of all of the ways these channels can incorporate social media. Some options might sound ludicrous. Others might enhance the social media channel or the original delivery channel itself. These examples provide ways think about cross-marketing social media. Examples outside of the industry are also included.


Click here to see a larger image of the chart above

(community service, branch, blog, feedback)
Northwest Community Credit Union’s ($620M, Eugene, OR) that’s so northwest blog launched its Cans for Comments campaign. For each original comment per post, Northwest Community donated a can of food to its local food bank, Food for Lane County. In total that’s so northwest received 452 comments in 10 days. The responses from readers were equally as impressive as the numbers:

“What a nice gesture, if only more companies did such a thing the world would be a better place.”
“Great idea! Thanks for supporting Food for Lane County. I'm re-posting this post to all my friends on facebook!”
“Can I repost the same comment again and again? I love it when my credit union does things like this. :)”

(promotional materials, print, community outreach, microsite, financial literacy, YouTube)
InTouch (formerly EDS) Credit Union ($771M, Plano, TX) in conjunction with CultureLab Creative launched The Arrival Guide (thearrivalguide.com), a campaign focused on older Gen-Y members (18-30). The campaign is composed of a microsite featuring educational resources, guerilla marketing efforts, and social media. To bolster The Arrival Guide’s social media following, InTouch integrated its social media presence into promotional materials and events. At the launch party, held at a popular local sushi restaurant, The Arrival Guide staffers offered attendees a free appetizer for tweeting “I’m at the Arrival Guide launch party at RA Sushi” to friends and followers. 

(website, online banking, customer service, chat/inquiry)
Most organizations like to cross-market their social media offerings by featuring logos on marketing materials, including their homepage. 

As of publication, Allegacy FCU ($1.0B, Winston-Salem, NC) had 896 Facebook fans and 425 Twitter followers. Icons to both pages are prominently placed on its website close to other member service channels such as Live Chat and Online Banking.

(mobile, online banking, products, inbound)
 TweetmyMoney launched by Vantage FCU ($623M, Bridgeton, MO) allows members to tweet for account balances, deposits, withdrawals, holds, and cleared checks. The platform fulfills a virtual need while other mobile banking solutions, including an iPhone app, are in development.

(financial literacy, community service, information)
The majority of credit unions already engaged with social media promote financial literacy resources such as consumer articles, seminars (online and in-person), podcasts, and online tools. If you offer any of these services, consider cross-promoting them through social media offerings.

(TV)
Credit unions advertising on television should consider adding an element of social media to commercials. Reebok Hockey aired a teaser of NHL star Sidney Crosby and teammate Max Talbot holding a shooting competition with a famed dryer that resides in Crosby’s childhood basement. To watch the full clip, users must become fans of Reebok hockey on Facebook. From there, fans are subject to Reebok Hockey live feed updates and further marketing.

(products, PFM, online banking)
SmartyPig is an online savings account application that allows users to budget and track for individual big ticket expenditures. After the user opts-in to allow external contributions to their account, they can send an email to family and friends informing them of their savings goal and inviting them to contribute via gift cards or transfers. Account holders visually monitor their goals and can add a SmartyPig widget to their Facebook, Myspace and Twitter page to share with others. Widgets are customizable and send automatic blasts to friends and followers each time the member makes a contribution to their account.

 

 

 

 

May 17, 2010


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