Social Media Ads vs Content for Credit Union Member Acquisition

For several years now, most credit unions have used social media to bring in new members and engage existing ones. However, new changes to business accounts and advertising might affect their social media strategy going forward.

So, we’d like to look at social media and content marketing for credit unions. How does the changing social media landscape affect credit union member acquisition strategies?

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CU 2.0’s On-Page SEO Checklist

Most credit unions use content for inbound marketing in some capacity. But from what we’ve seen, most credit unions don’t follow many (if any) best practices. So, we’ve put together a brief on-page SEO checklist for copywriting.

This is not an exhaustive list, and it doesn’t cover most of the technical side of things. Also, optimization for copywriting is constantly changing. Some gotta-dos in here might be outdated in a year. Still, these tips will help you generate compelling, ranking content

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Facebook Group vs Page: For Credit Union Marketers

Understand the value of Facebook groups to your marketing strategy

Many credit union marketers have difficulty telling the difference between a Facebook group and a Facebook page. Is there a tradeoff between using a Facebook group vs page? How are they different and which way should I go? If we were to conduct a digital marketing audit of the average credit union, Facebook groups would probably be absent from the mix. To clear things up, here are six compelling differences between Facebook groups and Facebook pages along with a few solid reasons to add a Facebook group to your credit union’s digital transformation roadmap.

#1: Facebook Pages Are Required for Facebook Advertising

Businesses are required to have a Facebook page to run an add on Facebook’s network. If paid Facebook advertising is a part of your lead generation strategy your business must have a Facebook page.

#2: Facebook Groups Create Deeper Relationships With Users

Facebook groups engender a deeper connection with your members and prospects. A Facebook page’s potential strength in building awareness is more than offset by a reduction in engagement behavior. Human psychology suggests that we are less willing to bare our souls in public comments, but we are more likely to open up about challenges in a private community like a Facebook group. Once you understand your member’s problems more deeply, your credit union is in a better position to serve them.

#3: Facebook Groups Deliver Better Visibility

Facebook groups provide better visibility because Facebook algorithms can decrease your Facebook page’s reach by as much as 98%, meaning that if a thousand people like your business page 980 of them are not going to see your content in their Facebook feed. With a Facebook group, everyone gets to see your posts. New group posts and post comment updates are sent to group members through automated desktop and mobile notifications increasing your opportunity to engage with those in need of help.

#4: Facebook Groups Help You Grow Your Mailing Lists

You can grow your email list faster with Facebook groups than you can with your business page or blog alone. Depending on the size of your group you can take advantage of your Facebook group’s increased member engagement and interaction to funnel hundreds of people into your email list weekly in a way that your business page simply can’t match. If you share a webinar recording or free whitepaper as a mailing list lead magnet, your Facebook group members are much more likely to opt-in to your mailing list because the trust level is through the roof.

#5: Facebook Groups Are More Profitable

Facebook groups are more lucrative than Facebook pages because the private nature of Facebook groups triggers the twin heads of digital marketing success namely engagement and visibility in a way that a Facebook page simply can’t do. Private Facebook groups are one of the best ways to share valuable insights and stimulate interaction that translates into heightened excitement and buzz for your brand, all without spending a dollar on advertising.

#6: Facebook Groups Are Great For Member Research

Because members are in a safe space, Facebook groups represent a powerful opportunity to check the pulse of your member base and test your business assumptions. Before launching a product or service share designs, project briefs or ideas with group members to meter interest. Posting surveys in the group is an effective way to zero in on credit union member needs and pain points that you can design solutions for. What is even better is that your research activity stands as proof of your empathy and puts on full display your willingness to collaborate with would-be and existing members on solutions to real problems.

At the close of the bell one tactic is not necessarily better than the other, so the Facebook group vs page conundrum doesn’t really exist. Each path has its inherent strengths and weaknesses. For example, advertising is a proven way to grow your Facebook group’s membership, but you can’t take part in Facebook advertising without a Facebook page. Done right, one hand washes the each other as part of a comprehensive digital marketing strategy for your credit union.

To learn more about Facebook and social media marketing tactics for credit unions browse our social media content.

5 Social Media Tips for Credit Unions

Social media strategy for credit unions has been a popular topic for many years. The more interconnected we get as a society, and the more time our members spend online, the more important an effective social media strategy for your credit union becomes. But the question becomes, what is the right content for your credit union to publish on its social media? How can you determine if the social media strategy for your credit union is effective?

Here are 5 tips for getting social media strategy for credit unions right.

1) Tell Personal Stories

Social media provides a terrific platform to share your story and content with members who you may not have the opportunity to connect with one on one. Use this platform as a way to spotlight community members, share employee stories, and share testimonials from you “A” members. Want to see a great example? Check out the community spotlight Wednesday we feature in our CU 2.0 Facebook Strategists Group.

2) Lead with Visual

Social Media platforms provide the perfect opportunity to lead with visuals. Visual content is more likely to get liked and shared. It is worth the time for your credit union’s marketing/social media team to adjust text-heavy content and lead with visual.

Video is exploding and is an important tool in your marketing toolbox. Video can lead directly to sales for your credit union. Studies show that 74% of users who watched an explainer-video about a product subsequently bought it. This could be potentially huge for products your credit union is promoting such as auto loans or HELOCs. Furthermore, video is not only important in your credit union’s social media strategy. Moovly gives us whopping statistics: You’re 53 times more likely show up first on Google if you have a video embedded on your website. There has been a significant increase in how much videos affect your search engine rank. When using video remember these four things:

  • Make sure to optimize your videos on Youtube for SEO
  • Write interesting titles and descriptions
  • Include links back to your website and products available to your members
  • Have interesting Call-to-Actions that give your members ways to take the next step

3) Offer Quizzes and Contests

Don’t fall into the trap of caring exclusively about likes and followers. You want to focus on engaging your membership. Quizzes and contests are an effective and fun way to interact with your members and engage them. Not sure what contests to run and/or need quiz ideas? Click here. 

4) Don’t Sell Sell Sell

Don’t talk so much that you forget to listen. Social media is a platform that will allow you to learn more about your members. Social media is a terrific way to solicit feedback and better learn what your membership cares about. This will allow you to create hyper-relevant content for your members, more effectively market your products and services, and ultimately better serve your members.

5) Focus Exclusively on Lead Capture

When your credit union sits down and decides upon its social media strategic goals, the goal should be to drive social media traffic to your credit union website. Once the user is on your website, your credit union can capture leads. DO NOT focus on simply generating more likes and followers. This is a vanity measure that may make us feel good but isn’t a metric that we should be focused on. Once you drive traffic to the website, then your credit union can build lists of qualified leads that your marketing and sales teams can follow up with.

If you have any questions, or want to learn more about the services that CU 2.0 provides, please reach out to a member of our team here.