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12/24/2008

Merry Christmas from Currency!

By Tim McAlpine


I'm afraid that we do not have a fancy video or a flash animation. No celebrity appearances or even a rhyming blog post this year. 

Just a heartfelt Merry Christmas from all of us at Currency.

Enjoy your time with friends and family and do not think about work, deadlines and the economy!

Subscribe today + RSS + Blog by E-mail + E-newsletter + Follow me on Twitter


 

12/23/2008

Podcast 17: Credit Union Innovator Christopher Morris

By Tim McAlpine

Welcome to episode 17 of Credit Union Innovators. My guest is Christopher Morris. Christopher is the Web Manager for the CUNA Councils, a national organization for credit union professionals. Christopher is responsible for the Councils' online presence, including all seven council websites (one main site and six individual council sites) and communication tools.

Previously, Christopher was Manager of Communications & Information for the National Credit Union Foundation. His primary duties included public relations and marketing, as well as managing the Foundation’s websites. Christopher also built cuaid.coop, the first national online disaster relief fundraising system for credit unions.

Christopher is a blogger at the YES CU Blog and was a member of Filene Research Institute’s 30 under 30 group.

Before entering the credit union system, Christopher was a high school English teacher and is a veteran of the United States Army.

You can listen by streaming audio here or you can subscribe to it in iTunes and listen on your iPod.


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Some links to get to know Christopher even better


+ CUNA Councils
+ CUNA Councils Connect
+ CU Aid
+ YES Summit Blog
+ YES CU Community
+ Filene 30 under 30 project
+ Christopher on Twitter
+ Christopher's LastFM profile

Fast facts about Christopher

• Weather in Madison? Ugly
• Madonna or Radiohead? Radiohead
• Ever been a movie extra? Yes
• Facebook, MySpace or Twitter? Tie between Facebook and Twitter
• Did or did you not buy a My Little Pony castle yesterday? Yes
• Favorite Princess movie? Enchanted
• Favorite Smashing Pumpkins album? Adore
• How tall are you? 5'10"
• Bank or credit union? Credit union
• Army or Navy? Army
• Do you have $700 billion dollars I could borrow? No

Looking for innovators

If you know a credit union innovator who I should interview, please e-mail me at tmcalpine at currencymarketing dot ca.

Production notes

+ Interview recorded with Call Recorder and Skype
+ My side recorded with a Blue Snowflake microphone
+ Edited in Audacity
+ Hosted on Evoca
+ Podcast RSS Feed through Feedburner
+ Music is A Song for Jake by Oregon Chad licensed through Creative Commons

Leave an audio comment

Leave an audio comment on my Skype voicemail.
+ 1-206-792-9470

NOTE: If you are listening on this page and want to post a comment, there is a good chance the CAPTCHA will time out. Make sure to hit the 'Post Comment' button twice. Copy your comment to your clipboard just to be safe. Thanks!


 

12/23/2008

Not-Quite-Indiana Jones and the Hunt for the Missing Domains!

By Tim McAlpine

After a year of tracking down, brokering, negotiating and, finally, transferring, we are the proud new owners of www.youngandfree.com and www.youngfree.com.

These two domains are key components for our Young & Free ecosystem plans. For now, we have put up a simple one-page website to provide links to our partner credit unions.

Cue the theme song!

Subscribe today + RSS + Blog by E-mail + E-newsletter + Follow me on Twitter


 

12/21/2008

Podcast 16: Credit Union Innovator Jeffry Pilcher

By Tim McAlpine

Welcome to episode 16 of Credit Union Innovators. My guest is Jeffry Pilcher. Jeffry is the editor of The Financial Brand and an independent financial services brand strategist with his company IconIQ.

Jeff Pilcher has spent over 15 years as a branding, advertising and marketing consultant, including eight years as brand strategist and creative director with Weber Marketing Group, an integrated marketing agency focused on the financial industry.

Previously, Pilcher was Marketing and Advertising Director with a Seattle-based consumer electronics retailer, where he managed a multi-million dollar budget and orchestrated the marketing activities of 15 stores in three states.

Pilcher has a B.A. in Mass Communications from Menlo College. Following college, Pilcher founded Sharp Advertising in Las Vegas, Nevada, which grew to 10 employees in four short years.

You can listen by streaming audio here or you can subscribe to it in iTunes and listen on your iPod.


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Some links to get to know Jeffry even better

+ IconIQ's website
+ The Financial Brand website
+ Jeffry on Twitter
+ Jeffry's LinkedIn profile

Fast facts about Jeffry

• Last movie? Rainman
• Cable? No, DirectTV
• Underwear at work? Yes, among other things
• What time does your day start? 5 to 6 a.m.
• Dogs? Dude, Sweet Pea, Booby, Buddy, Jake, Sparkle, Rosie
• How tall are you? 6' 0"
• What's your favourite colour? Gray
• How is the Dow Jones Average doing today? Down 14
• Last vacation? Fishing in Alaska last summer

Looking for innovators

If you know a credit union innovator who I should interview, please e-mail me at tmcalpine at currencymarketing dot ca.

Production notes

+ Interview recorded with Call Recorder and Skype
+ My side recorded with a Blue Snowflake microphone
+ Edited in Audacity
+ Hosted on Evoca
+ Podcast RSS Feed through Feedburner
+ Music is A Song for Jake by Oregon Chad licensed through Creative Commons

Leave an audio comment

Leave an audio comment on my Skype voicemail.
+ 1-206-792-9470

Subscribe today + RSS + Blog by E-mail + E-newsletter + Follow me on Twitter

NOTE: If you are listening on this page and want to post a comment, there is a good chance the CAPTCHA will time out. Make sure to hit the 'Post Comment' button twice. Copy your comment to your clipboard just to be safe. Thanks!


 

12/20/2008

Podcast update

By Tim McAlpine

I have switched podcast hosts to PodBean.com. My previous host's service was always crashing when I uploaded my files and the embedded player on this blog didn't work half the time. After almost a year of hoping it would get better, I've finally had enough.

So far, PodBean seems much better. The uploading and publishing procedure is so simple.

For those of you who subscribe in iTunes, you will see duplicates of all episodes. Sorry about that, but in order to replace the flakey embedded players on all 15 previous podcasts, I had to reupload to PodBean. You can view the complete directory here.

Subscribe today + RSS + Blog by E-mail + E-newsletter + Follow me on Twitter


 

12/16/2008

Credit union virgins?

By Tim McAlpine

There is a lot of buzz about the Whopper Virgins documentary right now.

 

I really enjoyed this short film. It makes its point in a very subtle unbiased way. Burger King really understands what makes it tick and plays the underdog part better than any other brand. Not only does Burger King have the ultimate competitor in McDonald's, both brands have very similar lead products to compare—the Big Mac versus the Whopper.

I have often thought there are two main problems with attracting new members to credit unions.

  1. The inability to taste test
  2. The lack of a simple and compelling difference

If your credit union looks like a bank, acts like a bank, uses the same recipes as a bank, it is going to taste like a bank.

This approach works for hamburgers. I wish something like this could work to prove the credit union difference, but until there is an easy taste test and a simple and compelling difference, credit unions will continue to be misunderstood and very underrated.

Subscribe today + RSS + Blog by E-mail + E-newsletter + Follow me on Twitter


 

12/10/2008

Credit union fan and interested in testing out Twitter?

By Tim McAlpine

By now you've probably heard of Twitter and may even be actively using it. If not, here's a quick definition.

Twitter is a free social networking and micro-blogging service, that allows its users to send and read other users' updates (otherwise known as tweets), which are text-based posts of up to 140 characters in length.

I first blogged about my thoughts last November. Although not nearly as big as MySpace and Facebook, Twitter is growing rapidly. I have been actively using the service for about 18 months. I really enjoy it and get far more out of the contacts and conversations that I have had there compared to Facebook or even LinkedIn.

For professional to professional or business to business, I really see value in spending time on Twitter.

There is also value for business to consumer if you are able to amass a large following. But that's the rub—people don't really like following companies. People like following and conversing with people. Companies that are having success tend to be large national brands like Starbucks, Comcast, Dell, JetBlue, Southwest Air and more. Most of these companies are treating Twitter like a help desk—listening and answering questions when they arise.

I am still skeptical of the value for credit unions, since Twitter is still pretty obscure and it is difficult to find and follow your actual credit union members. Perhaps this will change with more and more people joining and there are rumours about groups and other features coming soon. But, even if you could identify your members, its doubtful whether they will want their financial institution stalking them online!

If you are curious, I suggest setting up a personal account and trying it on for size. For the newbie, though, it can be very difficult to get started and to find like-minded people. But I can help—I just started a Credit Union Fans group on a new website called Twitter Groups. Follow the group members and start tweeting.

Also, make sure to follow me at www.twitter.com/currencytim—I'll definitely follow you back if you put something to do with credit unions in your bio!

Subscribe today + RSS + Blog by E-mail + E-newsletter + Follow me on Twitter


 

12/08/2008

Podcast 15: Credit Union Innovators has jumped the shark

By Tim McAlpine

Welcome to episode 15 of Credit Union Innovators. My guest is, errr, me. That's right, my guest is Tim McAlpine of Currency Marketing.

This is a strange one.

Back on May 30, I interviewed my good friend Morriss Partee from EverythingCU.com for Episode 9 of this podcast series. Well, being a clever and crafty guy, Morriss only agreed to the interview if he could turn the tables and interview me for the following episode. I agreed and then somehow six months slipped by as I had second thoughts about publishing what might come off as a self-servicing commercial for Currency Marketing.

I recently took a listen to the recording and thought why not. Morriss did a great job and I didn't sound too awful or self-promotional. Interestingly, this was recorded one week before we went public with our plans to license Young & Free to other credit unions, so I think I was a little guarded at a few points in the interview.

Tim is the president and chief strategist of Currency Marketing. He founded the company in 1990 straight out of art school. Tim lives in Chilliwack, BC, Canada with his wife Jan, son Aidan and daughter Elise. He is a graduate of the University of the Fraser Valley's graphic design program.

If you are not familiar with the phrase "jump the shark," here is some background information from www.jumptheshark.com:

Q. What is jumping the shark?

A. It's a moment. A defining moment when you know that your favourite television program has reached its peak. That instant that you know from now on...it's all downhill. Some call it the climax. We call it "Jumping the Shark." From that moment on, the program will simply never be the same.

The term "jump the shark" was coined by site founder Jon Hein's college roommate of 4 years, Sean J. Connolly, in Ann Arbor, Michigan back in 1985. This website, book, film and all other material surrounding shark jumping, are hereby dedicated to "the Colonel."

The aforementioned expression refers to the telltale sign of the demise of Happy Days, our favorite example, when Fonzie actually "jumped the shark." The rest is history.

Jumping the shark applies not only to TV, but also music, film, even everyday life. "Did you see her boyfriend? She definitely jumped the shark." You get the idea.

 
You can listen by streaming audio here or you can subscribe to it in iTunes and listen on your iPod.


Powered by Podbean.com

 
Some links to get to know me even better

+ Currency's corporate website
+ Currency's blog
+ Me on Twitter
+ My LinkedIn profile
+ My Facebook profile
+ My YouTube channel

Fast facts about me

• Weather on the day of the interview? Rainy
• Temperature? 12 degrees Celsius
• Pets? One cat—her name is Ally
• Industry or movement? Industry that thinks its a movement
• First Mac ever? G4
• Favorite Twitter client? Twhirl
• Favorite URL shortener? TinyURL

Looking for innovators

If you know a credit union innovator who I should interview, please e-mail me at tmcalpine at currencymarketing dot ca.

Production notes

+ Interview recorded with Call Recorder and Skype
+ Intro recorded with a Blue Snowflake microphone
+ Edited in Audacity
+ Hosted on Evoca
+ Podcast RSS Feed through Feedburner
+ Music is A Song for Jake by Oregon Chad licensed through Creative Commons

Leave an audio comment

Leave an audio comment on my Skype voicemail.
+ 1-206-792-9470

NOTE: If you are listening on this page and want to post a comment, there is a good chance the CAPTCHA will time out. Make sure to hit the 'Post Comment' button twice. Copy your comment to your clipboard just to be safe. Thanks!


 

12/06/2008

Challenge marketing for credit unions part 7: content

By Tim McAlpine

If you are just jumping into this series, I suggest starting at the beginning.
+ Part 0: preface
+ Part 1: introduction
+ Part 2: it's OK to sell
+ Part 3: your challenge, your product offer and your reward
+ Part 4: jump start your program
+ Part 5: should you require a log-in to participate?
+ Part 6: building your program on a suitable web platform

Creating a steady stream of interesting, entertaining and educational content

You have a great challenge concept, a great product offer and a fabulous reward. You have promoted your initiative with your staff, your members and your potential members. You have a memorable URL and a great website with plenty of ways to interact. Now what? You need great content and lots of it.

First off, let's talk quantity

How many blog posts per month does your challenge marketing website need to establish a loyal, large and active following? Some social media experts will advise that you should only publish a blog post when the feeling hits you. I can agree with this advice for a personal blog. The urge to post may come once per week or even once per month. Or if you are a cat, you may feel like blogging everyday!

But I cannot agree with this advice for a major marketing initiative for a business. If you are investing time and money into a challenge marketing program with an expectation that you will attract new members that will want your products and services, you are going to need to be very deliberate with your content creation schedule. I would recommend approaching blogging like publishing a newspaper. Establish a very regular publishing schedule with hard deadlines. Publishing regularly and often is critical to making a return on your investment.

To give you an idea of the blog-publishing rate in our industry, I visited a few of the top credit union blogs to get a feel for typical blog post and comment quantity.

Seattle's Verity Credit Union was the first financial institution in North America to establish a blog. Since 2004, the 13 Verity staff writers have collectively posted between two to 15 posts every month on the Our Voices blog. There have been 44 posts over the past 12 months. Judging by a quick scan, I would estimate that an average post receives one to two comments. Our Voices is a great example of a pure informational and human-interest blog brought to you by the employees of a credit union.

With just one author, The Boardcast from Ginny Brady of New York's UFirst FCU, has published 90 blog posts over the past 12 months. Each post receives between zero and five or more comments. Considering that Ginny is an unpaid volunteer board member and that her content consists of mostly long-form essay-style blog posts, The Boardcast's quantity and quality is phenomenal.

These are impressive numbers for pure informational blogs, but I would argue that your challenge marketing website will need more. Let's contrast the above numbers with our three challenge marketing examples.

Since soft launching in January 2008 and then opening it up to all members in April 2008, What Are You Saving For? has had 90 blog posts published by a number of authors. Each post yields between zero and a dozen comments. April was the high point with 20 posts.

Over the past 12 months, Change Everything has had 344 blog posts published by dozens of authors. Each post yields approximately three to four comments. January was the high point with 64 posts. This isn't surprising, considering that it's a site about change and the popularity of New Year's resolutions.

Over the past 12 months, Young & Free Alberta has had 335 blog posts published including more than 90 original videos. These posts have yielded 1,369 blog comments or approximately five comments per post. This past October was the high point with 50 blog posts published as our three 2009 Young & Free Alberta Spokesperson finalists vyed for the public's votes.

As an interesting side note, I think DeAndre' Upshaw's application video and blog post for the Young & Free Texas Spokesperson challenge takes the all-time-most-comments-on-a-credit-union-blog-post award with a total of 218 comments!

These challenge marketing examples might seem like too much content for your credit union to commit to creating, but if you are not posting on a very regular basis, you run the very high risk of not having return visitors. Here's a typical scenario to consider: a new visitor is drawn to your site by clicking on a Facebook ad or a banner on your corporate website, seeing the URL in print or by being referred to the site by a staff member. They take action and visit the site. This person likes what they see and bookmarks the site or, better yet, subscribes to your RSS feed or e-updates. If you are lucky, they return after a day or two to see what's new, but unfortunately, there is nothing new. They then forget the site exists and never return.

The social web is a very busy place with massive amounts of new content being pushed out by the second. The consumers of this content—your potential creators, editors and audience (read part 3 for a refresher)—are used to websites that deliver fresh content very regularly. And in order for your challenge marketing program to draw these folks in and entice them to becoming your fans and participants (and ultimately new credit union members), you need to have a very aggressive content creation strategy.

Take a look at the top destination blogs on the Internet—they are run like newspapers. For example, Gizmodo, one of the top technology and gadget blogs, publishes up to 80 new blog posts every single day! And, it's sites like Gizmodo, the Huffington Post, TechCrunch, Lifehacker and other top blogs, not to mention news sites like MSNBC, CNN and your local newspapers that have set an expectation that destination sites post great content at a dizzying pace.

To make your challenge marketing program a success, my recommendation is to post something new every weekday. In fact, over the past couple of months, we have upped the total posts on our Young & Free sites to at least two or three posts per day and at least five pieces of multimedia per week (including 12seconds.tv videos, YouTube videos and podcasts). This has contributed to increased traffic, increased participation, increased e-update sign-ups and, most importantly, increased account sign-ups in both Alberta and Texas.

Second, let's talk quality

Boring, uninspired content doesn't get any better with quantity! Everything that you post to your site should meet a minimum quality standard that you are comfortable with. This definition of quality is up to you and what you feel your audience will connect with.

Your site should have a consistent tone of voice and personality regardless of whether there is one author or 100. The tone of voice for Young & Free Alberta is smart, fun, quirky, youthful and engaging. Two overriding rules for Young & Free Alberta are:

  1. Entertain first, educate second
  2. One educational post for every 10 off-beat, quirky posts

For user-authored sites like Change Everything and What Are You Saving For?, quality can be measured in the passion shown by site members committing to changes in their lives and communities. The content published on both of these sites is not always entertaining or educational—but that's OK, that is not necessarily the intent of every post.

If you, your team or a dedicated blogger are responsible for the content, make sure that everything you create makes people want to come back for more. I recommend having strong opinions on your topics, but beware of polarizing your audience—remember, this is a corporate initiative backed by a conservative financial institution. I would steer clear of sex, politics, race and religion. Most of all, have fun and be engaging.

Third, vary the format of your content

Text posts can get pretty repetitive—especially if you are cranking out new posts everyday. At the very least, include artwork or photos within your posts from time to time. This will help your posts grab attention and get read, especially within an RSS reader, where all content looks the same. Our 2008 Young & Free Alberta Spokesperson, Larissa Walkiw, included an original colour illustration with every text blog post to add interest.

I highly recommend throwing video into the mix. You can either embed existing video from YouTube or create your own. You don't need a professional video crew or expensive equipment. For as little as $150, you can get a Flip digital camcorder with built-in video editing software and you are in business. And with free video hosting at sites like YouTube, Vimeo, Blip.tv and Viddler, there is no excuse not to produce your own videos from time to time.

Also consider podcasts and live shows. I know I talked about quality just above, but feel free to experiment and try new things. Your audience will forgive you if your content is slightly lower quality than the latest Hollywood blockbuster.

Fourth, involve your audience

Depending on your challenge, there will likely be a portion of blog posts that are created by your team at the credit union and a portion of blog posts that are created by participants in your competition or from within your community. The participant-authored posts will easily attract a lot of attention and comments from family, friends and fans.

For your credit-union-authored posts, you will have to work a little harder to get comments. Too often, blog authors write long essays (like this one) that cover every angle. In the end, there is nothing left to discuss. The best blog posts are typically short and inspire action and dialogue.

Social media pioneer Ze Frank had audience participation down to a science during his one-year run of The Show with Ze Frank.

Thousands of photos, videos and music files were contributed by the audience, including over 1,000 photos in one 20-hour period. Viewer feedback from a previous show often served as a launching point to a new topic. One episode was scripted by thousands of viewers using a wiki.

Be deliberate and conversational with your posts and don't be afraid to ask the audience to participate in one form or another.

Fifth, set the rules

You should include a privacy policy and a terms of use statement as well as a blog comment policy on your site. Your privacy policy and terms of use statement should detail how you collect and use information and how you ensure privacy and security. Check out Change Everything's terms of use to see a great example.

Your blog comment policy should detail what you define as acceptable and unacceptable. Here is a great article from The Blog Herald on why you should include a blog comment policy and how to create one. Also check out the Young & Free Alberta blog comment policy to get more ideas of what to include.

Some social media proponents will advise that nothing should every be deleted from your blog, but I disagree. Remember, you set the tone and you have every right to remove comments that are in poor taste, negative or self-promotional.

In our first 11 months of Young & Free Alberta, we only deleted two comments out of nearly 1,000, but during the 2009 spokesperson search we had our first run of negative comments. They were directed at one applicant and we decided to delete more than 20 negative comments that came in within a 24-hour period. This zero-tolerance approach curbed this negative run and had no lasting negative effects within the community.

Finally, here's some blogging resources to help with your content creation

There are countless blogs about blogging best practices! I would recommend Copyblogger, ProBlogger and Chris Brogan to get you started. All three of these sites offer a very steady stream of great articles with practical tips and advice that you can put into action. 

Next up: encouraging multiple levels of participation.

Subscribe today + RSS + Blog by E-mail + E-newsletter + Follow me on Twitter


 

12/04/2008

Our 2008 RRSP campaign for Envision Financial just earned a silver CMA Award

By Tim McAlpine

I first blogged about this campaign back in June. Envision Financial recently entered it into the Canadian Marketing Association Awards and we just learned that our campaign won a silver award in the Financial Services – Wealth Management category. Pretty cool, considering that it was competing against Canada’s five major banks and credit unions from across the country.

Financial Products and Services: Wealth Management

Bronze
Company: BMO InvestorLine
Campaign: BMO InvestorLine’s Amazing 8 Campaign
Agency: Tribal DDB Vancouver

Silver
Company: Envision Financial
Campaign: 2008 RRSP Campaign
Agency: Currency Marketing

Gold
Company: BMO Financial Group
Campaign: BMO RSP Decoder DM
Agency: Blitz Direct, Data & Promotion, a division of Cossette

Canadian financial institutions use all of their marketing firepower in January and February to promote Registered Retirement Savings Plans (RRSPs). March 1 is the deadline for Canadians to invest in these tax-sheltered investment products.

Envision had an aggressive $28 million dollar deposit growth goal. This coordinated campaign helped Envision secure more than $100 million in RRSP investments during the first two months of 2008!

Congratulations to Ashok and Michelle at Envision. It was our pleasure to play a part in this successful campaign.

If you are in the throes of putting together your 2009 RRSP campaign and need some help, drop me an e-mail. We'd love to get involved.


 

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CU Water Cooler Symposium
10-28-2010
Fishers, Indiana
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Interested in having Tim McAlpine speak at your next credit union event?
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