There is little doubt that social media is here to stay. As the list of organizations jumping on the bandwagon grows every second, the same business questions continue to arise:
- How do we execute it effectively?
- How do we justify the time and personnel expense (ROI)?
- How do we use it to support other initiatives?
To answer these questions, Callahan & Associates Internet Strategy Consortium conducted a social media survey involving over 11,000 credit union members.
Key Fact: This is the most comprehensive social media study ever conducted in the credit union industry.
The study measured members’ use of social media, including visited sites and online activities, communication preferences and desired topics on social media sites. Among the findings:
- More than 82% of credit union members ages 18-60+ use Facebook.
- About half of all members surveyed said they would read a credit union’s Facebook page periodically.
- Among credit unions with a Facebook presence, only 5-16% of their members were aware their credit union had a fan page. Most members reported learning of Facebook pages through credit union websites.
- Of Twitter users, 34% use it to follow companies with which they do business.
- Twitter’s overall familiarity among members was 14%, but only 2-7% reported being “very familiar” with the service.
- Members using Twitter expect their credit union to provide information such as fraud alerts (71%), special offers (60%), financial tips (58%), and rate specials (57%).
- Nine-in-ten online members are interested in receiving email from their credit union.
The Callahan & Associate study including 11,000 credit union members revealed interesting differences between age groups and usage of certain social media channels.
Readers of The Financial Brand are invited to enjoy a special webinar, “Engaging Members through Social Media Challenges & Opportunities,” hosted by Callahan & Associates that presents the study’s conclusions and recommendations.
$50 Off the playback of this webinar!
Just type the promo code FinancialBrand in the
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The webinar should provide you with a clear picture of what your organization can expect from this growing trend:
- Critical considerations as you plan your social media initiative
- How to use social media to monitor the health and stature of your brand
- Where different audiences should be engaged differently
- Who you should (or could!) be targeting
- Examples of how credit unions are leveraging social media