3 Effective Ways Credit Unions Can Grow Engagement on Social Media

Social media has experienced a staggering growth rate since 2004, and it’s not pumping the brakes any time soon. Credit unions that don’t hop on board with the latest tactics and trends will simply find themselves buried in the dust of yesterday’s sorrows.

Today, it takes more than just a content calendar filled with scheduled posts to keep your followers satisfied–it takes the right posts for the right audience to keep them engaged. While some components of a solid social media strategy come from trial and error, the rest comes from knowing what content to share and how to do it right.

How Well Do You Know Your Audience?

The first question you should ask yourself before restrategizing your social media presence is, “Who is my credit union’s audience, and how well do I know them?” Without the answer, increasing your engagement rates is like taking a shot in the dark.

The more you’re aware of the wants and needs of your audience, the more likely you can increase your engagement. Let’s say your credit union’s goal is to drive more HELOC loans. Then the first step is to identify who your audience is and find out what messaging best resonates with them. That being said, each goal will entail different content based on your audience demographics, and your strategy should reflect the segment you’re trying to reach. That’s where tailored content can make your audience feel heard and understood, ultimately leading to higher engagement and brand trust.

Offer Expert Insights

When it comes to creating content that converts, the next question to ask yourself is what does your social media offer that benefits the audience? For users to hit the follow button and engage with your posts, you must provide value to their social media feeds.

Fifty-three percent of Americans reported having financial stress, with those between 18-34 having the highest levels (63 percent). This calls for more financial literacy from the experts, and your audience may be looking at your credit union for the answers. As an expert in financial topics, your credit union has an opportunity to use this platform to educate social media users on the ins and outs of banking through every stage of life.

Small tips or shareworthy statistics every week can be enough to relieve your audience of financial stress, even if it’s just a little. Consider creating a series like Tip Tuesday or Stat Saturday to engage your audience and encourage them to share their thoughts, too.

Share the Local Love

A unique selling point for credit unions is their rooted mission to serve their communities. Sharing this aspect of your financial institution and what it stands for can help humanize your presence and mend a form of disconnect with your audience.

Followers want to feel close with their credit union, and localized content can help them view you as a friendly neighbor instead of a nationwide corporation. But how can credit unions share the local love while increasing engagement?

It takes more than just sharing a photo of your team setting up a booth at a local event–it gets your followers involved with questions and incentives. So, instead of just sharing photo evidence of community work, invite your followers to join. Whether your credit union partners with a local shop to share freebies to followers who share your post or ask followers which nonprofits they want to see you work with next, it helps your audience feel included instead of sitting on the sidelines.

Create a Video Series Campaign

Video content rules the internet. So much that the average person watches 100 minutes of video content per day, and 49 percent of consumers engage with branded video content on Facebook – double than any other social platform. Simply put, video content is a must in every social media strategy.

Credit unions have an excellent opportunity to use video content to break down complex ideas, including their products and services. This doesn’t mean you should use video content to sell your brand; instead, to help inform.

Take our client Florida Credit Union, for example. They looked to our agency for help in creating informational video content that shares the ins and outs of their products and services. From how to apply for an auto loan to what a commercial loan can do for your business, these 3-5 minute videos are eyecatching and give a quick rundown on a financial topic, all while maintaining an on-brand look and feel.

Keeping Your Social Media Content Fresh

Keep your content fresh with monthly or quarterly promotions and remember to incorporate proper usage of hashtags, location tags and mentions. Another great way to find tactics that drive engagement is to hop over to a competitor’s social to see what works or flops for them. This can help spark some great ideas and help you share content that your audience is interested in. But if you need more quick tips or ideas, check out this list for some inspiration:

  1. Capture member testimonials and highlight staff
  2. Set up polls and ask fun, engaging questions 
  3. When appropriate, have fun with current events and trends
  4. Boost posts that are performing well to increase visibility
  5. Pay attention to metrics and the best time to post
  6. Encourage your audience to comment, like and share
  7. Above all, be authentic

Not sure where to start? Partnering with an ad agency to help boost your social media presence is a great way to understand your audience and reach them. Give us a call to find out how we use analytical tools and marketing insights to capture the right audience, drive engagements and increase conversions for our credit union clients.