04/30/2008

Shout out: Seattle Metropolitan Credit Union and its 7 Principles microsite.

By Tim McAlpine

Seattle Metropolitan Credit Union is the latest credit union to utilize YouTube video to tell its story. SMCU has a new microsite that highlights the seven cooperative principles that define the credit union difference.

The site is simple, fun, entertaining, educational and real. I also like how SMCU is using the lefthand side of the site to sell its Feel Good Checking Account. It's a great offer that is featured prominently without being overtly pushy.

I have two suggestions to make the experience even better.

1. Consider enlarging the video to the 425 pixel wide YouTube default. The current size is very small and considering all of the effort that went into making the videos, why not maximize the experience?
2. Add a way for visitors to interact with the site. A blog or a guest book would make the site more sticky and would encourage site visitors to return on a regular basis.

Nice job, Seattle Metropolitan Credit Union—welcome to the social web!

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04/28/2008

Part 2: "Our credit union doesn't allow Facebook or YouTube."

By Tim McAlpine 

In part 1, I presented the two main reasons why companies block employees from participating in social networking sites like Facebook and YouTube while at work: security and time wasting. In this follow-up, I'll give you three reasons for your credit union to consider throwing caution (and productivity) to the wind by openly embracing the social web.

Reason 1: Employee retention

Many employees, especially the Gen X and Y set, actively participate on social networking sites. In-mail (messaging services within these sites) is replacing e-mail as a primary means of keeping in touch with friends, colleagues and family. This new breed of employee resents being blocked from sites like Facebook and LinkedIn.

This is from the Government Technology Magazine:

"While Web 2.0 sites clearly pose a threat to corporate network security, making them off limits to employees may not be the best solution," said Sheinbaum. "Many companies understand that being able to access social networking and Web services sites during work hours is important to overall Employee 2.0 satisfaction and may also benefit their business."

This is from a News.com article entitled Can social networking co-exist with the workplace?

There is no question that companies that have embraced the Internet have benefited over those that have ignored the changes overtaking the business world. Social networking sites truly do provide robust features that provide a richer means of online communications. Rather than ban employees from using the medium, managers should think ahead how to turn it to their advantage. Careful thought should be given when considering the use of any networking features that could be detrimental to an enterprise. From there, policies can be crafted on a company-by-company basis to guide employees and gain their buy-in.

Reason 2: Connecting with your credit union community

There are 69 million registered Facebook users. This is a huge group of engaged users. In my neck of the woods, there are more than 700,000 members of the Vancouver network alone! For a credit union looking to connect with members and potential members, there are definitely opportunities for your credit union and for your employees to have a presence on the social web.

This is from the Cutter Consortium article on social networking:

On the one hand, the blocking of social media sites continues apace. On the other hand, the adoption of social media in enterprises is on the rise. Jeremy Burton, president and CEO of Serena Software in San Mateo, California, USA, supports bringing social networks to work. Socializing is good for your business, and your employees could help your business via social media to gain customers' trust and to improve research, product design and development, and innovation. If your customers indicate a strong preference for a certain social-media service, it makes sense to give your company a semi-official presence there, run by real humans, for informal customer service and true public relations. "No matter what, people will find ways to socialize and share during work hours," Burton says. He encourages businesses to exploit this socializing to their business advantage by arguing, "If your employees are going to 'do it' anyway, why not encourage them to channel their social-media impulses in smart, safe ways that can potentially help your business?"

There are a number of examples of credit unions connecting with members and potential members with Facebook pages. Here are a few that I am a fan of:

• Oklahoma's Tinker Federal Credit Union page
• Ohio's Wright-Patt Credit Union page
• California's Valley Credit Union page
• Alberta' Common Wealth Credit Union Young & Free page

There are also a number of examples of credit unions creating community and dialogue within the social web with their own online communities and blogs.

• British Columbia's Vancity Change Everything community
• Washington's Verity Credit Union blog
• New York's UFirst Boardcast blog

Reason 3: Marketing and sales

There is an unwritten rule that the social web is all about connecting and building community. This makes it tough for the number crunchers to calculate ROI, but what if you could sell products and services?

This is from Evolving Solutions:

"Whether you're selling widgets, or selling software, or working at a restaurant, Facebook is a great social platform that allows anyone who works for an employer to let all their friends know who they work for and maybe what they're selling," points out Nadeau. "So, if (companies) use it in their favour then it can be a very useful tool." For example, a restaurant owner could have its staff create and join a Facebook page devoted to people who are a fan of a popular appetizer the restaurant serves, friends of those staffers may see the page and be interested in going to the restaurant to try it, said Nadeau. Facebook is also a quick and easy way for staff to stay connected with colleagues and customers, and has the potential to help people build up their business contact lists, adds Spinks. Regardless of strategies and policies around Facebook and Internet use in general it is pretty much a given that office workers will use the Internet daily for non-work-related reasons.

Here are some examples of credit unions utilizing the social web to actually sell products and services.

• North Carolina's Carolina Postal Credit Union's I love My Hoopty blog
• Alberta's Common Wealth Credit Union's Young & Free Alberta blog

What do you think?

I have presented you an overview of the two major reasons to block and the three major reasons not to block social networking sites. This brings us back to the two intertwined questions that need to be considered:

1. Should we allow our credit union employees to participate on the social web while at work?
2. Should our credit union have a presence on the social web?

The answers will vary from credit union to credit union, but I believe the answer needs to be yes to both questions or no to both questions. If you decide to block employee access to the social web, but also have a credit union presence on the social web, you are sending contradicting messages and your credit union will be unable to create the employee buy-in needed to generate the success you are seeking.

On the other hand, if you grant employees access but decide not to have a credit union presence on the social web, you will constantly be questioning the value of this "time wasting" and will resent your employees.

Personally, I would answer yes to both. But then again, I have a handful of employees, not hundreds!

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04/28/2008

Part 1: "Our credit union doesn't allow Facebook or YouTube."

By Tim McAlpine 

After Eric and my talk on the Young & Free Alberta program at the CU Tech Spring Forum on Wednesday in New York, an interested attendee stopped me to comment, "That's a great program, but we could never do something like that. Since we don't allow Facebook, YouTube or any other social networking sites at our credit union, we certainly wouldn't want to promote their use."

The woman next to him added, "Yeah, it's a real problem. I manage 16 frontline staffers and to curb time wasting, we block all social networking sites. Plus our IT department says these sites present too much of a security risk."

This quick exchange defines the internal struggles facing credit unions as they contemplate the social web (social networking sites and blogs). There are two intertwined questions that need to be considered.

1. Should we allow our credit union employees to participate on the social web while at work?
2. Should our credit union have a presence on the social web?

I am going to break this subject into two posts. First up, the reasons to block employees from accessing the social web while at work.

Reason 1: Security

Here is a general overview of the dangers of the Internet in a corporate environment. This is from a report from the SANS Institute:

Users who are allowed by their employers to browse the Internet have become a source of major security risk for their organizations. A few years back securing servers and services was seen as the primary task for securing an organization. Today it is equally important, perhaps even more important, to prevent users having their computers compromised via malicious web pages or other client-targeting attacks.

And this is what the Network Security Journal has to say about social networking sites:

Since most people access social networking sites from the comfort and privacy of their home or office, they can be lulled into a false sense of anonymity. Additionally, the lack of physical contact on social networking sites can lower users' natural defenses, leading individuals into disclosing information they would never think of revealing to a person they just met on a street—or at a cocktail party.

The Government Technology Magazine adds:

Social networking sites such as Facebook, YouTube, Craigslist and Wikipedia, as well as Web services such as eBay and Gmail, enable self-publishing and high interaction between users through blogs, RSS feeds, podcasts and other technologies. These sites attract huge numbers of visitors, making them extremely attractive to hackers. Moreover, the same technologies that invite user participation also make them easier to corrupt with malware such as worms that can shut down corporate networks, or spyware and keystroke loggers that can steal company data. Further, with the ability to post photos, video and audio recordings to sites, employees can inadvertently "leak" confidential company information. Organizations are realizing how allowing access to these types of sites can compromise information security. Some companies are taking a hard line by prohibiting employees from visiting these sites and are enforcing the policy by blocking access using simple URL filters. Other companies block access and then go to the expense of setting up standalone kiosks that allow employees to visit Web 2.0 sites without exposing the network to malware attacks.

Reason 2: Time wasting

This is a hard one for me to comment on, because I actively encourage my staff to "waste time" on social networking sites. It is important to me for my staff to be well versed on emerging social media trends and to understand how all of this stuff works. The reality for a teller-line manager is very different. Again, I will turn to what the experts have to say.

In an article from the BBC, Facebook costs businesses dear:

Workers who spend time on sites such as Facebook could be costing firms over £130m a day, a study has calculated. According to employment law firm Peninsula, 233 million hours are lost every month as a result of employees "wasting time" on social networking. The study, based on a survey of 3,500 UK companies, concluded that businesses need to take firm action on the use of social networks at work. Some firms have already banned employees from accessing Facebook.

And this from an Inc.com article:

In 2005, American workers spent the equivalent of 2.3 million years’ worth of 40-hour workweeks reading non-work-related blogs while at work, according to a study by Advertising Age magazine. And that’s just blogs. Millions more work years were spent shopping online, checking eBay listings, cruising social networks, looking for vacation deals, Googling old flames, and, of course, ogling porn. A 2005 survey by America Online and Salary.com concluded that employers spend nearly $760 billion a year paying employees to goof off on the Web.

Yikes, these snippets present a strong argument to block the use of social networking sites at your credit union. If we listen to the IT and productivity experts, the downsides of allowing access to the social web are enormous. But before you decide to batten down the Internet hatches, read part 2 in this series where I explore the potential upside for your credit union to embrace the social web.

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04/25/2008

Johanne gets a t-shirt!

By Nala Henkel

For her promptness, AND for asking the question on everyone's mind - "What would it take for you to join a credit union?"* - Johanne R. of Rexton, New Brunswick will shortly be sporting a coveted Cuckoo t-shirt.

Marketing is not only conversation, it's clothing!

*Question slightly altered to be applicable to all credit unions.

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04/23/2008

Warning: Canadian credit union geek and Apple fanboy in the Big Apple!

By Tim McAlpine

This post has no education value whatsoever! It's just a short note to say I am in Manhattan for the first time in my life and I am stoked. I'm co-presenting the Young & Free Alberta story at the CU Tech Spring Forum with Eric Dillon from Common Wealth Credit Union this morning. I flew in last night and I am leaving this afternoon, so it is pretty short-lived, but I can now say I have visited the Big Apple!

And speaking of big apples (really bad pun), being the Apple fanboy that I am, I was delighted to find out that my hotel was just a block away from the flagship Apple Store on Fifth Avenue. It's open 24 hours a day and I swear there were 200 people in there last night at 11:45 p.m.

The session Eric and I are presenting is much like the presentation that Larissa and I gave in Colorado last month. If you are interested here are the slides.

Thanks to the conference organizers, Jodi Torres and Girish Shah from CU Tech for the invite. Now back to the pile of work I left on my desk.

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04/22/2008

Here's my presentation that I am giving today in Toronto.

By Tim McAlpine

I am speaking today at the DOXIM Exchange 2008 conference in Toronto, Ontario.

I have 45 minutes to make my case on how traditional and social media can work hand in hand to connect with members and potential members. I have included two case studies. Vancity's Bike Share program courtesy of William Azaroff and Common Wealth Credit Union's Young & Free Alberta program. Both are good Canadian credit union examples. Here are my slides.

Where does traditional marketing fit in a Web 2.0 world?

April 22, 2008  |  DOXIM Exchange 2008  |  Toronto, Ontario

Presentation overview
With the sex appeal of blogging and social networking taking center stage, you may be tempted to kiss those old boring marketing tactics goodbye. Not so fast! Integration is the name of the game. Tim McAlpine will explore how your credit union can marry the best of online and offline marketing and communications tactics to deliver killer results.

Download handouts
+ Where does traditional marketing fit into a Web 2.0 world? (1.50 MB PDF)

Thanks to Chris, Pierre and Fiona from DOXIM for inviting me and making all of the arrangements. Tomorrow I am in Manhattan for the first time in my life! I am speaking at the CU Tech Spring Forum with Eric Dillon from Common Wealth Credit Union spreading the Young & Free love.

Wish me luck!

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04/22/2008

That first day flush

By Nala Henkel

My 15-year-old daughter Taylor is one-month into her new job. She's an umpire for the community softball league. To get this job, I had to tell the league's organizer that she was interested (it helped that she'd played for a few years too) and she had to pass a simple test after her full day of training.

The league supplied the training (by Softball BC professionals), uniform and gear, and rule book. When she got her gear home, she put it all on and walked around the house alternately calling strikes and checking her hair. When the schedule was posted online, she wrote every game down on the calendar - location and time. She always pushes me to get her to her games early, and during games (wonder!) she cleans home plate periodically without being asked.

Kidding aside, she respects softball in a way she didn't before. She works more and has more responsibility than she ever did as a player, but she likes it. It's a pretty cool first job for her, and I overhear her talking about it to her friends often.

This made me realize that you never have a more enthusiastic brand advocate than when a staff member first starts his or her job at your credit union. Could you imagine them trying on their name badge and checking it out in a mirror? Wouldn't it be great to maintain that first day flush of enthusiasm throughout their career? I suspect that if more people could keep in touch with the feeling, there would be less turnover and stronger brands.

What do you think?

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04/21/2008

Vote for ChangeEverything.ca in the Webby Awards

By Tim McAlpine

This is a straight up repost from William Azaroff's blog. I'm doing my part to help mobilize the credit union world to vote, vote, vote for one of our own. Any credit union CEO with the courage and sense of humour to allow a co-worker to ham it up with a tongue-in-cheek impersonation like this is my kind of CEO and definitely gets my vote! 

 

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04/18/2008

Mark your calendars: BarCampBankBC is coming on September 20, 2008!

By Tim McAlpine

Gene Blishen, William Azaroff and I are organizing BarCampBankBC to be held in Vancouver, British Columbia, Canada on Saturday, September 20, 2008. You are all invited.

What's a BarCampBank you ask? Here is a great post on Open Source CU by Brent Dixon that sums it up perfectly.

This will be the first BarCampBank held in Canada and I can't wait! Head over to the wiki and sign-up.

I attended BarCampBank Seattle in July of 2007 and it was a tranformational event for me. In 2008, there are a total of five happening throughout the US and the reports back from San Fransisco, New England and New York have been stellar.

I believe BarCampBankBC will be just as exceptional. And for $25, what have you got to lose?

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04/17/2008

What is the value of social media silliness?

By Tim McAlpine

There is a lot of buzz about Twitter these days. As a credit union marketer with an over-active fascination with social media, I have seen firsthand how Twitter connects people to people in a constant stream of conversation. I find it a great way to network and stay connected to a group of professional peers and friends.

Like all new things though, everyone is looking for the marketing angle. Ad agencies and corporate marketers are trying to figure out how to tap into this advertising-free community.

Enter the master of social media silliness

An amazing example of a thriving sponsored community has emerged in the last month on Twitter built by the original Internet superstar, ZeFrank.

Here is some background on ZeFrank from Wikipedia.

In 2001, Frank created an online birthday invitation and sent it to seventeen of his closest friends. Forwarded wildly, the invitation soon generated millions of hits and over 100 gigabytes of daily web traffic to Frank's personal Website. The site grew to include interactive group projects, short films, animations, and video games, many Flash-based, including children's educational videos featuring handy tips such as "Don't vacuum your face." Frank won a 2002 Webby Award for Best Personal Website. In 2005, Frank was featured in Time Magazine's "50 Coolest Websites." Frank debuted onstage at the Gel conference in 2003, and later spoke at the TED Conference in 2004 and 2005. On March 17, 2006, Frank launched a daily video blog known simply as The Show With Zefrank. Each tightly edited three-to-five-minute episode combined Daily Show-style commentary on world events with songs, observations and occasional games or challenges for his viewers to participate in. The Show quickly became the most popular portion of his site and helped to increase Frank's visibility in the blogosphere while also attracting the interest of those in the "old media" of film and television. Frank signed with the United Talent Agency of Beverly Hills, California for representation. The show ended on March 17, 2007 as planned, exactly one year after its start.

Since turning the lights out on the The Show a year ago, ZeFrank has been lying low until he surfaced on Twitter with this tweet. Fast forward less than one month and ZeFrank has activated an army of thousands of followers who are actively engaged in the most elaborate social media experiment that I have ever witnessed. It's called Color Wars 2008 and it is shear social media brilliance. Everything about it is user-generated and it is building in scope and craziness every day. Here is a user-generated theme song by a Rhett and Link (another couple of Internet geniuses) to get you started.

 

Dozens of teams have formed and are engaged in daily competitions. Here's some links to get you up to speed.

In the Broom Game, ZeFrank asked people to submit a video of themselves holding a broom and spinning around 30 times. In less than 6 hours, 30,000 votes were registered.

Other games include Ro-Sham-bo, Nerd Rap Battle, Thursday Bingo Challenge, and the current challenge, Young Me, Now Me build on the lunacy.

Spend some time on the Color Wars 2008 site. You will be wildly entertained or completely baffled. Also notice that it is being underwritten by a number of sponsors including Jet Blue.

I will leave you with this question,

"Is it be possible for a credit union or a group of credit unions to connect and engage this deeply with a group of like-minded people?"

I hope so.

I must admit that I live for this weird Internet stuff and that I might be overly optimistic that the square-pegs that are credit unions can fit into these silly social media circles.

There continues to be such fear and a lack of acceptance of the possibilities that social media presents for credit unions. I know that the Color Wars 2008 example is way too radical for the conservative credit union industry, but I will continue to dare to dream.

I apologize in advance for wasting your next hour!

P.S. Do you think the sponsors of Color Wars 2008 analyzed the ROI to death before jumping onboard? I doubt it.

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