3 minutes
Today’s consumers receive a multitude of messages from several different channels. From emails to social media and even traditional print advertisements, the battle for consumers’ attention is more challenging than ever before – especially among financial institutions.
Consumers have an unending number of options when it comes to choosing their financial institution, so how can you make your credit union stand out from the crowd? Establish a unique “voice,” and then use this voice in all your public relations efforts.
Some credit unions spend thousands of dollars developing advertisements with catchy phrases that do not necessarily correlate with their core mission and vision. While advertising is an important component of a credit union’s marketing efforts, credit unions must look beyond traditional advertising to build an actual brand and a positive reputation, and the first step in establishing this voice is to develop key messages.
1. Craft Meaningful Messages
Credit unions should take the time to craft simple, meaningful key messages that clearly support their value proposition. Key messages should not only communicate the value of a credit union’s products and services, but what makes the institution unique and why members should choose to bank with them.
Once a credit union develops its key messages, they must consistently incorporate these key messages into every outreach they have to the public, including press releases, media interviews, member newsletters, advertisements and even their front-line staff. One of the best ways to communicate these key messages directly to members is, of course, through social media.
2. Connect – and Engage – with Digital Consumers
It is no secret that social media is no longer an option – it is a must-have for credit unions that want to remain competitive and be a part of the conversation. Credit unions can leverage social media to push out updates about their institution that are relevant to members, such as new products or services, new branches and upcoming events, but they should also make sure they actually engage with their fans and followers. No question should ever go unanswered, and never underestimate the power of a simple “like” or a retweet.
While many credit unions have social media channels, if not done correctly, social media can do more harm than good. Nothing looks worse than having a blog, Facebook page or Twitter feed that has not been updated in months. Social media can be intimidating and it will undoubtedly take some time to manage, but it is critical to be in constant communication with your members, especially in today’s digital age.
3. Pursue Speaking Opportunities
One way that credit unions can literally use their voice is through speaking engagements. Speaking engagements are a powerful public relations tool; therefore they are highly competitive and sought after by many credit union executives. Speaking engagements not only have the ability to increase a credit union’s exposure, but they further position the institution as a thought leader in the industry.
Additionally, participating in a speaking engagement will most likely result in pre- and post-show media coverage, opening up opportunities for future interviews. Credit unions can also live Tweet the event to engage with their members who otherwise wouldn’t get to experience the session.
These are just a few ways credit unions can ensure their voice is heard. One of the many reasons why consumers choose a credit union over a large national bank is because of the personalized member service and sense of community, so credit unions must uphold that reputation by creating a unique voice that understands and serves the needs of its members.
Lauren Schuster is an account representative at William Mills Agency, the nation’s largest independent public relations firm focusing exclusively on the financial services and technology industries. The agency can be followed on Twitter, Facebook, LinkedIn, or its blog
