Eight actions to take in 2024 to improve your credit union’s reputation
Merriam-Webster crowned “authentic” as its dictionary word of the year in 2023, setting the tone for 2024. While managing and elevating your credit union’s reputation always necessitates unwavering commitment and continual adaptation, in the age of A.I., it’s more important than ever to keep it real.
Authenticity cultivates a sense of trust and serves as the cornerstone of genuine connection in an interconnected world, nurturing relationships built on sincerity and transparency.
As the dynamics of technology, communication and member behavior evolve, this list of Eight Reputation Enhancement Actions to Take serves as a guide for the upcoming year. This year the tips highlight the interconnectivity between technological acumen, audience-centricity and proactive engagement in the digital sphere. Following these actions in the near-term can help executive leaders protect and defend your credit union’s valuable reputation, with integrity and credibility.
- Lean into and use A.I.
We are at a pivotal moment where trust in A.I. can help your credit union capitalize on efficiencies. Educate yourself and your team on AI and ChatGPT to embrace these technologies fully. Understanding and leveraging A.I. can transform not just your operations, but also enhance your messaging and identity.
- Mirror-and-match your target audience
By identifying where your existing and prospective members gather information and actively engaging on their frequented platforms, you can precisely tailor your credit union’s messaging and outreach strategies, ensuring resonance and relevance. Listening, learning and adjusting your communication style to speak the language of your members, not just your credit union’s rhetoric, strengthens connections and trust.
- Be the expert and guide
Establishing your credit union as an industry expert by providing guidance and meeting audience needs builds credibility and loyalty. One way to do this is to create educational digital assets showcasing your credit union’s strengths and capabilities. Educational content fosters trust and positions your credit union as an authority, guiding others in making informed decisions.
- Simulate crises
By preparing for potential crises, your credit union can proactively mitigate risks and prepare robust strategies for damage control, should something arise. Taking it one step further, simulating realistic crisis scenarios can help you understand real vulnerabilities to your credit union’s reputation, then fix them.
- Bring authenticity and humanization
Humanize your credit union’s brand by showcasing the people behind it. Move away from stock images and present genuine faces and real people language to your audience. Personalization can resonate profoundly in a world where trust is a valuable currency.
- Monitor your reputation
Actively manage your credit union’s online narrative. Monitor mentions and proactively engage with both positive and negative feedback. Address unfavorable information promptly and engage with those highlighting your credit union’s expertise to deepen the conversation and relationship.
- Study competitors
Analyze competitors (e.g., other credit unions, banks, fintech), not just in terms of your credit union’s products and services, but also for the digital real estate you seek. Understand your competitor’s strategies and digital presence to refine your credit union’s engagement tactics.
- Post quality, not quantity
Focus on creating valuable and shareable material across platforms. Ensure consistency in delivering high-value content that resonates with your audience. Sharing a variety of items across platforms at different times may offer the most value.
Your credit union’s reputation requires constant investment and cultivation. Embracing technological advancements, understanding audience nuances, preempting crises and fostering authenticity are key pillars in shaping a resilient reputation. By embracing these strategies, you can foster trust while navigating the ever-evolving digital landscape.
