Has your credit union’s appeal to large audiences been trailing off lately? Are you getting fewer and fewer “likes” or “shares” on your content — none, maybe?
We can blame changing algorithms, insufficient SEO, and the ever increasing shrieking noise of the online marketplace. But if your sales have been flat since Q1 2018, then consider something else — you, yourself may be to blame.
There are lots of ways to attract an audience, but there are even more ways to drive them off. I call them “audience repellents.” Here are five that I see most often with credit unions:
1. Bragging and Humble Bragging
Whereas, “bragging” is a self-inflicted wound, and “humble bragging” is pouring lemon juice on it.
We don’t like braggarts at a cocktail party, so it stands to reason we don’t like a business braggart, either. Humble bragging is bragging online about your credit union’s accomplishments, but pretending to be modest while you’re doing it.
A business humble brag usually starts with the words, “We’re just thrilled to announce that…,” Or, “We’re so humble and honored to have…”
We all like attention for our business achievements, but when bragging is the main substance of almost all of your public interaction, and you feel you have to brag to get people to notice you, you become repellent in the minds of your audience.
I don’t think perpetual braggers are deliberately trying to turn people off. You might think that your audiences will be impressed and even love you more. But actually, the opposite is true!
There is a Harvard business study that proves that people dislike and lose respect for companies and individuals who brag, and especially who humble brag.
So, lighten up on bragging and opt for achieving “3rd party credibility.” People believe what other people say about you, not what you say about yourself. Send out a press release so that the media can make your announcement. If you’ve won an award from an entity, let the entity make the announcement on your behalf. Hide it on your website somewhere.
Just resist the urge to run out into the town square and shout, “Look at me! Look at me!”
2. Failure to Connect and Engage
You can visit many financial institution social media business pages, websites and posts and see nothing but brags and self-serving sales messages, as if social media itself was created just so marketers could advertise for free. You will also observe that there’s not much of an audience there, either.
To attract an audience, you need to make the bulk of your communications strategy about delivering the information they want, not what you want. If someone’s not interested in you as an organization or as a solo professional, they certainly won’t care about your sales agenda.
3. Failure to Understand Your Audience
I learned this the hard way, back when we were trying to make our rock band famous. More often than not, in order to pay the rent, we had to play gigs to please audiences who were more into hearing Top 40 music than any of my original tunes.
Once we were booked as an opening act for David Brenner, and his audience comprised the blue hair casino crowd who lived for Frank Sinatra and yelled “turn it down!” when their grandkids had the radio on.
Anxious to show off on a big stage, my band played mostly our original rock tunes. After each one, all we got were golf claps. But when we played “The Rose” at the end, back then a top-of-the-charts ballad, we got a standing ovation.
There’s something to be said for “givin’ ’em what they want.”
3. Giving Up too Soon
It takes time, and lots of repetition, to get people to notice you. Unless, of course, you’ve just landed a jet in the Hudson River without killing anyone.
And by time, I mean months, even years. There was a saying long ago: “Just when you’re getting sick of your own messaging is when people start paying attention.”
Keep your communications frequent, relevant to your audience and consistently value-driven.
4. Your Website Isn’t Media Friendly
Never forget that the “media” is one of your most important audiences. The people most likely to tell others about you and give you mass exposure are journalists, editors, TV producers, radio talk show hosts, podcast hosts, and thousands of bloggers. They’re always looking for experts to interview.
To research your credit union and judge whether you’re credible, they’ll look at your website. If you don’t have an online pressroom providing the kind of information a journalist needs to do his/her job, they’ll probably blow you off. Either that, or they’ll search LinkedIn for your leadership’s LinkedIn profiles. No LinkedIn profiles?
They will move on to another company or expert who has their act together. It wasn’t you.
5. Failure to be Passionate about Your Brand
An audience-attracting credit union regularly expresses genuine passion for something greater than itself.
Apple has a passion for beautiful design. Nike is passionate about athletes. Harley Davidson is passionate about freedom and adventure. Ben & Jerry’s passion is about the earth and the environment. Perhaps your credit union’s passion is about healthcare, law enforcement or a community.
Get your positioning team back together and commit yourself heart and soul to ONE ideal you can stand behind. Your passion is a magnet for people who share your values, because it inspires trust and a sense of loyalty.
A business without authentic passion resorts to humble bragging.
I am thrilled and honored that you have read this post.