They Say Content Is King. For Credit Unions, It’s Yet To Be Even A Prince
Recently Geezeo and King Fish Media sponsored a webinar titled “A New Framework for Content Marketing in Four Steps” with a group of our clients. The topic covered the basics of content marketing and how to effectively deploy content strategies. I quickly learned many credit union executives have little understanding of the need for content marketing, and even confuse it with social media. With that in mind, here are some basic definitions to help you better understand the purpose and value of content marketing.
What is Content Marketing?
Wikipedia defines content marketing as “any marketing format that involves the creation and sharing of media and publishing content in order to acquire customers. This information can be presented in a variety of formats, including news, video, white papers, e-books, infographics, case studies, how-to guides, question and answer articles, photos, etc. Content marketing is focused not on selling, but on simply communicating with customers and prospects. The idea is to inspire business and loyalty from buyers by delivering “consistent, ongoing valuable information”.
Do you do that?
What Is Content Strategy?
A content strategy is the fundamental planning of the content creation, delivery, and “governance”. It is a systematic approach that defines your entire editorial content development process to delivering your member’s information needs in all the places they are searching for it. (Hint, they look beyond your branch.) It is a more strategic approach to developing and managing content as an asset, with a recognition that quantifiable ROI is desired.
Do you manage content and do you know what it yields for you?
What Is The Content Strategist?
The content strategist is the person who defines what content will be published and why it is published. They are empowered to to define content strategy and illustrate the opportunity your credit union has in evolving the way it markets and offers products, by putting the member at the center of everything you do. Think of the content strategist as your editor-in-chief.
Who is your content strategist?
Why Do You Need A Content Strategy?
Just think about this for a moment. The digital and social revolution connects us all and enables a constant, seamless flow of instant information. Many of us face information overload. Add to this the fact that you are adding more retail delivery channels than ever before. The good news is that the digital marketing revolution enables credit unions to communicate with members directly, frequently and with remarkable relevancy. How well these channels integrate, and the relevance of the content or message, determines your ability to make an emotional brand connection that is meaningful. The more meaningful and relevant you are, the more sales you will produce. And ideally, your value proposition will be made much more clearer.
Is there strategy to your content or are you only promotional in your messaging?
Your Newsletter Is Only A Small Part of The Content You Produce. (And it may be irrelevant)
Some credit unions invest tens of thousands (some spend well over 6 figures) on printed, mailed newsletters, often with content focused on the credit union, not the member. Remember, marketing can not just be about promotion. Traditional marketing techniques simply are no longer as effective as they used to be. The amount of content and messaging being delivered to consumers every day is increasing exponentially as consumers shift to new delivery channels.
Are you producing relevant content in your newsletter? Are you leveraging opportunities to engage members in online banking, Personal Financial Management (PFM) or mobile banking?
You Have The Tools.
You already have the tools, the channels and the audience. Many credit unions even have a compelling story to tell. You just need to find a compelling way to tell it and offering much more relevance. You say you want to be a “trusted financial partner”. Does your content support that?
