Live blogging of William’s talk to the Partnership Symposium in Indianapolis.
[Brent Dixon recorded this session on video here.]
In Canada, we do things a little bit differently.
33% of Canadians view the environment and global warming as the most important issues affecting the world today.
Vancity members represent 5% of discretionary spending in BC.
Vancity has a role to play in the social economy, and has a chance to influence.
Approx. 30% of not-for profits in their region bank with Vancity CU. (We have opportunity to do more with this.)
Dark green consumer segment – 16% of their member base
Dark green is a psychographic segment. William feels there is opportunity that 30-40% dark green members make up Vancity.
Vancity used to do generic advertising and branding. Rebranded effort shows their personality/values, uses humor.
Billboard with solar panels – dark green consumers get it.
High interest savings account – part of it funds a scholarship that gives 200% to very low income people. Message to world – the account that helps fight poverty.
Magnet Marketing – put a stake in the ground with who they are. If you’re not comfortable with that, you are welcome to leave.
Change Everything – online community to engender change, personal and social, in Vancouver and BC
Has become a resource for people who want to live more sustainably.
Message: no reason why a car loan can’t change more than just your car
Snow storm hit Vancouver in Nov 2006: People organized to help the homeless through the Change Everything blog. Press loved it; big earned media. Heartfelt testimonials poured in.
Bike share program: Take it, ride it, pass it on. People kept honest via online community. Front page of Vancouver Sun (which you can not buy.) Huge PR event.
Results: 125 people per day; 1200 visits per day
Registrations: 162% increase
media value: $50k+ (which is half of the original cost of program)
registrations: 7/day; 95 day
media value: $175k+
bikes returned (and donated) 28 out of 45
Vancity CU: 2nd most trusted business operating in Vancouver.
Number one trusted financial institution.
Q&A with Ron:
What are internal discussions like? marketing? senior management?
A: Willingness to try new things. There isn’t always time to try new things. How do we balance trying new things vs. doing what works.
At senior management, no one is questioning this brand positioning, have been through that. Crystalizing what they can do, and be strategic focused, biggest impact. Debates about where is the focus, how to focus. Prioritization, being disciplined.
Q: Top priorities for next 12-18 months?
A: 1.) Internal- intranet development. Get info to the employees when they need it. 2) Online banking development to catch up and also lead. 3.) Other opportunities in social media to help business; help members connect to staff and other members
Q: do you manage and create a social media strategy?
A: Board just had a retreat in rundown area (not fancy place)- went straight to heart of what ails Vancouver. They are coming out with: What is Vancity in 10 years? Line up social media strategy with organization goals. So that William’s group is not isolated.
Social media strategy comes from organizational strategy.
Q: Now values are coming into Vancity’s product. How does social media strategy fit?
A: Differentiation. Product starts with being competitive. How do we make it our own? But then social aspect fits in addition. Likelihood to try measure is very very high. Members get to say where the charitable part goes to.
Q: Measure customer engagement?
A: Need to get better here. Newly formed group from several different departments. Critical to work on this. We know how to measure traditional marketing. Need to work on definition to get on same page.
Q: from audience: attaching to existing social initiatives in community?
A: Vancity was already partners with them, but just didn’t know it. Couldn’t have done BikeShare if not partnered with 4 local orgs that dovetailed. Partner with lots of folks now.
Q: from Ginny: Vancity has a vision. If members don’t share it, too bad for them. What about employees and board members in regards to this? Hiring/recruiting process?
A: Board members: definitely. 22 people ran for 9 slots. Because org is really making change, people want to be a part of that. Members really want Vancity to do even more for environment and poverty. Employees: looking for those whose values resonate with Vancity. HR understands our values.
Q: (From Jeff Stephens) Did Ron really invent the term Magnet Marketing?
A: Yes, he was referring to refrigerator magnets.
Q: If you went to another CU? How/where would you start?
A: Won’t go anywhere else. He realizes that at Vancity, he has become a values snob. He would have a tough time working somewhere where values weren’t the driver of the organization. There must be commitment from the top, that William could help bring it to life, in a way that is measured in his performance plan. Has to come from the top down, starts with CEO and board, and be organization wide.