What is up with the “A” word?

Is your credit union still riding the struggle bus when it comes to the “A” word in social media? Forget anything obscene. You are not in the back of the band bus.

In fact, you can even rule out business basics like algorithm and avatar. Even reading dozens of social media presentations and articles, hardly ever do I hear anyone talk about it. It is one of the most important tactics that actually resonates and builds awareness—THE “A” word: acknowledgment.

In the last decade, as credit unions have dabbled in social media, some have gotten better with responding to members on social outlets. But, and it is a pretty big one, there are still way too many people not being acknowledged. Whether it’s a simple comment on a fun post, or a review that merits a thank you or follow up, a member post is often met with silence. In that blank space, credit unions are blatantly missing opportunities to build loyalty among members and fans.

What’s the big deal you ask?

  1. It’s simply the right thing to do. There is a reason Miss Manners still publishes advice.
  2. It’s proven that people who receive replies to social media posts are more satisfied with their brand experience. They are also more willing to recommend the brand. Just ask Twitter.

Twitter recently conducted a study in conjunction with Applied Marketing Science to help understand the power (ROI) of acknowledgment. The basic results from the study? Customers who receive replies are more satisfied with their experience and more willing to recommend the brand. In other words, it increases your chance of FREE MARKETING! Just look at the large percentage of people willing to help you increase word of mouth by simply acknowledging them. 44% say they are more likely to share their experiences-both online as well as offline-after receiving a response on Twitter. Further, they are 30% more likely to recommend you. The same can be said for other social platforms.

In the words of famous TV peddlers, “But, wait, there’s more!” It’s not enough to just respond. What is the key factor? The study also showed the faster the response, the greater the impact. The study said “While any response is better than none, it pays to reply rapidly. When an airline responded to a customer’s Tweet in less than six minutes, the customer was willing to pay almost $20 more for that airline in the future.” It makes sense. People naturally feel closer to what makes them feel like they matter.

It’s time to create a member service plan for your social platforms. Now. Go beyond posting content. Move from talking to people to talking with people. Respond to members. As we become more connected, the greater the role acknowledgment plays in the audience choosing the brands they invest their time, energy, and money.

 

Bo McDonald

Bo McDonald

Bo McDonald is president of Your Marketing Co. A marketing firm that started serving credit unions nearly a decade ago, offering a wide range of services including web design, branding, ... Web: yourmarketing.co Details

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