6 benefits of social media for credit unions

1) Relationship development

Using a variety of social media you’ll be able to build relationships in a new medium with members and potential members. It gives you yet another way to interact with members on a more personal level which cultivates mutually beneficial, strong relationships, which can contribute to brand loyalty and member satisfaction.

2) Brand development

Create a recognizable identity for your products and services on a familiar platform for your members. Social media affords an incredible opportunity to sensationalize banking solutions with creative campaigns and positioning, with the added ability to push new products in a swift manner.

3) Product development

Not only does it offer the ability to reach members and potential consumers, but it provides a way to discover their needs using social media tools. By simply logging on you can figure out what members are saying about you which holds unmeasurable value.

4) Value defining

With the ever more detailed reporting offered through social media analytics, credit unions can understand the true value of their outreach and marketing efforts. Getting detailed insights, credit unions can evaluate key performance metrics all the way from website visits to account openings.

5) Developing connections

Even still it’s a way to connect with other institutions and professional’s already successfully operating in the social atmosphere. Having a finger on the pulse of what others are doing that is working is not something to be passed up.

6) Money Saving

Social media is much cheaper than traditional marketing and advertising. Sometimes if done correctly, the only cost associated with in-house social media marketing is time. With no price tag on using these incredible resources, there is nothing to lose with everything to gain.