Engage Your Members: Tell a story…

Mike Lawson, Principal, DML Communications & Host, CUbroadcastMike Lawson, Principal, DML Communications & Host, CUbroadcast

Most credit unions have complex, strategic marketing plans that are getting more intricate every year: multi-channel messaging, targeting specific member segments, incorporating new analytics for tracking and results, and the list goes on and on. But many times the most basic, yet incredibly powerful and engaging, strategy gets left out: Telling a story.

Sure, as a keen marketer, you can spout off mind-numbing facts and figures about your credit union’s tremendous growth, astounding CD and loan rates, cutting edge technology services, and even how accessible your member service is. These topics are excellent talking points, but they aren’t stories – yet.

Former CNN talk show host, Larry King, once asked the late Ed Bradley of the popular news program 60 Minutes if he could explain the longevity of CBS’ longest running TV show to date. Bradley explained that the show’s founder Don Hewitt had a single instruction that every correspondent on the show had to follow: “Tell me a story.” So storytelling (“In a galaxy far, far away…”), not reporting (“Flood destroys six homes in…”), is what 60 Minutes has always done and is a big reason for its long-term success. Stories are incredibly engaging, easily transferable, and spark action.

Think about a novel; it is nothing but story – and millions are sold everyday. A movie is nothing but story – and the masses spend millions to see them everyday. A story, whether it’s in a movie, book, or a TV news show, is about life lived. Story is about risk, hope, fear, struggle, love, and loss. It’s about heart and soul and the real reasons behind things.

So what’s the real reason your credit union bends over backward to serve your members? What’s the real reason your credit union implemented a remote deposit system? What’s the real reason your credit union incorporated a personal finance management solution?

I’m sure there are a myriad of reasons why your credit union did or still does these things – and more, but the overwhelming answer to generate a story that motivates is “to help your members in their financial lives.” Money is one of the many common denominators that connects us all. So why not tell a compelling story revolving around this connection?

The thing about stories is that they create a reason for people to care about you. When people care about you, they want to do business with you. And the more people who do business with you, the more stories you have to tell. That’s a positive cycle.

So what types of stories can your credit union you share?

  • Member success stories should be first and foremost because they are objective coming from an unbiased end user. These stories can include buying a home, purchasing a car, getting out of debt, successful investing, leveraging a technology solution, member service anecdotes, etc. Talk about how your members have benefited from your credit union in any of these areas. They are relatable.
  • Trends are timely stories that immediately provide your credit union with credibility. What are some financial trends occurring now? Mobile banking, social media efforts, creative lending practices, etc. Talk about how your credit union is capitalizing on the latest trends to help your members.
  • Staff stories humanize your credit union. Posting stories about staff members on your website and/or in the monthly newsletter helps your members get to know your employees – and, thus, build a close-knit community. This bond creates trust and familiarity. People still like that kind of thing.
  • Philanthropic stories are valuable anecdotes to let your members know how your credit union is giving back to charitable causes and the community. You don’t have to tell how much your credit union gave (actually, I don’t recommend it), but instead divulge what it did and what happened as a result of its giving efforts. This is another story that humanizes your credit union. It lets your members know that your staff not only cares about what happens inside the credit union but they also care about what happens outside the credit union’s doors.

I like to use Apple as an example in a lot of marketing-related stories because they do such an outstanding job in this area. They’re very good at telling stories that resonate well with their audience. The company has “profile” sections for the iPad and iPhone on it website that provide customer success stories of how different folks in different businesses benefited from using their products. These are fantastic stories that show their products’ practical applications to life.

Here are some examples:

There are many, many more stories on the Apple site about how customers are benefiting from iMacs, iPads, iPhones, etc. These stories humanize this technology, giving products practical value even before a customer makes a purchase.

I realize there’s more to marketing that just telling story. But sharing how cool your credit union is because of the amazing service it provides members is certainly a fine place to start and engage your members.

What story is your credit union telling today?

Mike Lawson is the principal of the marketing firm, DML Communications, and host of the credit union industry’s only online video talk show, CUbroadcast; has more than 20 years of journalism, public relations, and marketing experience. Lawson leverages this three-tiered expertise to help credit union-related individuals and organizations increase their exposure. Lawson has an extensive background within the financial services industry stemming back to the mid-‘90s working for Symitar, establishing DML Communications in 2002, and starting CUbroadcast in 2010. He speaks on journalism, PR, marketing, and social media topics to credit union industry organizations nationwide. www.dmlcommunications.com  www.CUbroadcast.com.

Mike Lawson

Mike Lawson

Mike Lawson; principal of the marketing firm, DML Communications (www.dmlcommunications.com), and host of the credit union industry’s only online video talk show, CUbroadcast; has more than 20 ... Web: www.cubroadcast.com Details