How Verve Credit Union used social media to generate an extra $2.5 million
There is no doubting how powerful a tool social media is for businesses of all shapes and sizes. In recent years the shift from more traditional methods of marketing and advertising towards digital alternatives has been seismic.
Certain industries have been quiet slow to adapt to this changing environment, with one of these industries being the financial services sector.
Credit unions by their nature are often inflexible businesses that do not like a lot of change. People like to depend on their credit unions, so these financial institutions tend to continue to put forth the same drab advertisements that they have been using for years.
For anyone that is on the fence with regards to the effectiveness of social media for generating revenue credit unions, you only need to look at the results that have been generated from Verve Credit Union’s efforts to date. They have generated an additional $2.5 million since they ramped up their social media efforts.continue reading »