Important thoughts about important things after #CUWCS

Something fired my brain up about 20 minutes into the first CUWCS speaker, Robbie Wright's presentation. He was expanding on a blog post he wrote in June of this year which stated, in part, "nothing important happens in the credit union blogosphere."

Obviously, as I am very active in the blogosphere, Twitt-o-sphere, Facebook-o-sphere—and at times have an inflated opinion of my contributions in this arena—I was in VEHEMENT opposition. Then I listened further (listening being something I appreciate more fully, being involved in many credit union 'spheres) and realized he had a point of sorts.

He said "important stuff is never really talked about online." He also mentioned a few things that flew at high speed OVER my head, such as member business lending cap and partnerships between some anagrams that sounded pretty important. One or two members in the audience spoke up to share stories of credit unions using social media platforms—such as Twitter—successfully as a marketing channel. I'm not going to go there, because there are both amazing and amazingly bad examples of social media use in every industry, not just ours.

What I am taking away is this: Let's all agree that social media is an amazing way to TALK to each other. Twitter specifically let over 130 people participate in the conversation during #CUWCS, which in turn kept those 130 networks informed and interested, and so on. The majority of the people who follow me on Twitter are there to 1) immerse themselves in my witty and insightful 140isms and share the same back with me; or 2) politely following me back for my follow, because unless one is a creeper, that is the Twitter etiquette. My use of Twitter is much more information sharing than sales, although I am the business development person for Currency.

So let's try using this platform for important conversation and sharing!

I'd LOVE to see Robbie (just to get things rolling) start up a Twitter # chat on those important things he says are not being talked about. How about the second Monday of every month around 11 a.m. Pacific time, called #importantstuff? I hereby promise to show up for that, hopefully to learn something, but also to lend support to the important stuff getting talked about. For those of you who are too shy to admit they don't have a clue what I mean by a "Twitter # chat" or how to participate, here's a super easy how-to:

  1. Go to www.twitter.com
  2. If you need to, create a new account. If not, sign in. (If you use a Twitter app or client, set up a #importantstuff stream)
  3. In the search field, enter "#importantstuff" and click the search button.
  4. Near the top of the results page you'll see a button that says "Save this search." Click that button.
  5. Click on the Home page link. In the "Search" drop-down list (under your status field, 4th in the row beside "Timeline", "@Mentions" and "Retweets" if you're using the new Twitter) select #importantstuff
  6. Read and participate
  7. Nothing there? Nice, you're early. Come back at 11 a.m. Pacific time on the second Monday of the month

See? Easy-peasy, right?

There are a lot of websites out there—including ours—that focus on the credit union industry, and I assume the things people are comfortable talking about. If a number of people out there feel these sites aren't talking about the important stuff, then let's find a way to talk about the important stuff.

Who's in? I am—what do you say, Robbie?

Nala

Thing 17 of 30: Use Internet video

September is 30 things I would implement or consider implementing at my credit union if I was a credit union leader.

Thing 17: Use Internet video

Heard of YouTube? Of course you have—it's the most popular website for sharing video on the Internet. It's enables you to post, distribute and embed video on your website or blog for free. With no additional infrustructure necessary on your part. There are many credit unions using video—in fact, there are more than 6,900 video tagged with "credit union" on YouTube. This number doesn't include other popular video sharing sites like Vimeo, Blip TV and Viddler.

Obviously, many credit unions are using video to their advantage, but there are thousands and thousands that are not. If I was a credit union leader, I would use Internet video to communicate our spirit, to promote and demostrate our products and services, to empower our employees, to celebrate our member stories, to train our employees and to give our credit union an approachable personality.

If Mount Lehman Credit Union can buy its 11-employees Flip Mino camcorders, so can you.

Tim

Thing 7 of 30: Ask for your members' e-mail addresses

September is 30 things I would implement or consider implementing at my credit union if I was a credit union leader.

Thing 7: Ask for your members' e-mail addresses

I know social media is all the rage, but what about good old-fashioned e-mail? Whenever we are developing an integrated marketing campaign for credit unions, we always ask the question, "Have your members opted into an e-mail mailing list that we can utilize?" The answers range from "No" to "We have a few."

As I mentioned in thing 5, maintaining a personal relationship with credit union members is only going to get harder. With the convenience of online banking and debit and credit cards, members rarely come into the branch anymore. Having the authorization to send personalized and relevant e-mails from time is a tremendous relationship building and marketing tool and bridges the gap left by a lack of face time with your members.

Take iTunes for example. In five years of its existence, Apple now has 100,000,000 accounts with credit card and e-mail information! I am one of those account holders and I gladly receive a weekly e-mail announcing new music and specials that are relevant to me. Audible (now a division of Amazon) also does a great job of sending me personalized e-mails on a regular basis that alert me of audiobook titles that I might want to consider spending my credits on.

Credit unions don't do this and they are missing a huge opportunity to deepen member relationships and also to cross sell relevant products and services on an ongoing basis.

There are numerous e-mail services that you can use to manage your subscriber database and that will allow you to publish personalized and professional-looking e-mails. I did a fair amount of research on this recently and chose Aweber for all of our Young & Free and Mommy Blogger programs.

Others e-mail services that I considered include Constant Contact , iContact, Emma  and Mail Chimp. And if you are looking to go beyond simple e-updates, definitely check out DigitalMailer. It is a credit-union industry CUSO that can also handle all of your e-statement and mobile alert needs in addition to marketing e-mails.

If I were a credit union leader, I would definitely put some serious effort into getting every single one of my members signed up for e-mail communications.

Tim

Get on the e-mail boat-now!

In the last week or so I've had conversations with two different clients that went like this.

  • Me: "So about how many member e-mail addresses do you have for this group?"
  • Them: "Uh, I think about... I'm not sure. Maybe a couple hundred?"
  • Me: "Is it part of your application process to collect an e-mail address?"
  • Them: "Yes. Well... it was on the online app, but I think... (to the other "them" at the table) do we have it on the form in-branch? I think so."

People. PEOPLE! You need to be actively collecting e-mail addresses. Here's why, courtesy of my Twitter friend Ron Shevlin who tweeted the link (e-mail me if you are scratching your head over "Twitter" and "tweeted"):

E-MAILS SENT TO HOUSE FILES FOUND TO PRODUCE HIGHEST RETURN-ON-INVESTMENT FOR SOLICITING DIRECT ORDERS

ORLANDO, FL, OCTOBER 13, 2003 — A new landmark study from the Direct Marketing Association (The DMA) found that e-mail offers, particularly those sent to in-house customer lists, produced the highest overall return-on-investment (ROI) for marketers focusing on soliciting direct orders, generating leads or building store traffic.
Copy and pasted totally without permission from The Direct Marketing Association
— Copy and pasted totally without permission from The Direct Marketing Association

There's more to this article (and I sincerely apologize for the screaming caps– their choice, not mine) but you can see why it's VITAL that we are building e-mail databases.

There's no excuse. You're sitting at your computer right now, so you can e-mail everyone who needs to make this change. I mean it.

Nala