Posts Tagged ‘World 2.0’

Hub N Spoke Social Media Strategy

December 7, 2011
As 2011 comes to a close, we can safely say that social media has become the norm rather than the exception, since Facebook has more than 10% of the world’s population (800 million out of 7 billion) using its site. Even broadcast TV puts twitter hashtags in their show’s title overlays. Because there are nearly as many social media outlets as there are social media users, implementing an effective strategy can be overwhelming. However, a few fundamental principles can help you keep your aim squarely on your marketing and business goals. Join me for this 101-level webinar on how to encourage people to go where you want to take them…back to your CU’s web site.

Attend this webinar and learn:

  • One of the most important and fundamental techniques to increase social media success
  • The place to start all social media campaigns that most people overlook
  • A step-by-step checklist to make sure you have your social media bases covered
  • The different characteristics of the major social media channels
  • Two common social media beliefs that are false and what to do instead

Click here for more info or to sign up: Hub N Spoke webinar

Ed Filene on embracing social media

August 30, 2011

There has been a long-running topic on EverythingCU.com about how to get management on-board with social media when they are dead-set against it. Over the last couple of years, many suggestions have been offered about ways to accomplish this objective.

My favorite so far comes from Andy Anderson, a credit union marketer in Atlanta this morning. He quotes Edward Filene:

“If you are going to do business, you will have to do it in this new world; and I haven’t lived in this new world any longer than you have. It is stranger, in fact to me than it is to you.”

Andy informs us: “This was his speech before the School of Business Administration of the University of Buffalo in 1936.”

These words that Edward spoke 75 years ago are as true and relevant today as they were then. I think that had Ed Filene lived in this day and age, he would have whole-heartedly embraced social media, and used it to spread the word about credit unions throughout the land.

Thank you for sharing this with us, Andy!

Introducing the EverythingCU Knowledge Warehouse

February 28, 2011

Greetings intrepid EverythingCU’ers!

We’ve got a new innovation to help you out in your endeavors… our new Knowledge Warehouse. We have placed all of the online video tutorials that I’ve shared with you on the discussion in the Knowledge Warehouse, ready for you to view instantly, at any time. All of the videos pertaining to EverythingCU are absolutely free of charge. There is even a new video there called “Under the Hood of EverythingCU” which covers some discussion navigation techniques you might not be familiar with. Once you purchase a video, anyone at your credit union can also access it, and you can watch it at any time since there will be a link to it on your personal profile page.

In addition, I am working on creating a new set of online video tutorials for the Knowledge Warehouse, and these will cover many aspects of social media marketing, including Facebook, Twitter, and LinkedIn tips. Others areas I can cover, if there is interest, include blogging, podcasting, and videocasting. These instructional videos will be available for a nominal charge, and you’ll be able to watch them instantly on your computer screen as well.

If there are any aspects of social media you specifically want me to cover, please shoot me an email at any time. I’ve been involved in this field since 2005 (or since 2000 if you count EverythingCU as a form of social media), and I’d love to share my knowledge for the benefit of you marvelous EverythingCU’ers.

Check out the new EverythingCU Knowledge Warehouse here! Enjoy!

(If you want to access the Knowledge Warehouse in the future, you can always find it at the Gadgets tab in the main navigation header of this site.)

Social Media is not a waste of time for most Credit Unions

November 30, 2010

Fully five years into the social media revolution, a job opening for a social media position at a credit union was posted on EverythingCU.com just a week ago. I was very excited about this development, because as many of you know, I’ve been involved in social media and credit unions for… well, before there was even such a thing as social media.

When we started EverythingCU.com back in 2000/2001, we wanted to enable credit union marketers across the country (and even a few other countries too) to be able to share and communicate. We quickly realized that it would be great to attach a face to these names flying across our computer monitors, and thus photo uploading was added. (In the early days we even scanned photos sent to us by mail.) In addition, we created easy document sharing, as well as individual profile pages.

When the words “social media” started cropping up in credit union and other online sources back in 2005/2006, I started investigating this newly emerging trend and discovered it was very similar to the peer-to-peer networking and communication we were already enabling with EverythingCU.com, only on a more personal and “regular consumer” level. “What an exciting development!” I thought to myself. “Now that social media is emerging as an entity in its own right, we’ll be able to help credit unions understand the power of this medium for themselves that we’re experiencing here at EverythingCU.com.” In the subsequent years, I’ve spoken at many CU conferences and conducted workshops on social media for credit union leagues around the country; something which I truly love doing.

So based on the job posting, the subject on EverythingCU turns to “how can you calculate the ROI of this new social media position?” What an interesting question!

It can indeed be extremely difficult to measure ROI for marketing. You can measure overall results for a marketing campaign for a specific product by comparing that product’s sales with the previous year’s results. But as was pointed out on EverythingCU by Mia Perez, how do you measure ROI for the second year of the campaign, when you had successful adoption of the product in the previous year, thereby reducing the pool of people who would have bought the product based on your spectacular new marketing campaign? It’s going to necessarily be less than year 1. But you did as great a job creating the marketing campaign in year 2, but you’ll have less to show for it. Hmmmmmmm.

Another commenter in the Social Media-ROI topic pointed to the Financial Brand’s Why Social Media is a waste of time for most banks and credit unions.

I can’t prove the ROI of social media, but I fundamentally believe social media is not a waste of time for most credit unions. If your credit union behaves like a bank, then absolutely, you should skip social media. But I find the values of most credit unions line up perfectly with what makes social media a fantastic venue. Let’s take a look at where and why this makes sense from a “values” point of view:

Social media is all about empowering individual people. Each person in entitled to their own voice, their own opinion, and can create their own network of friends, family, and colleagues. Everyone is on an even playing field in terms of putting their message “out there.” In the credit union world, all members are treated equally, i.e., every member has an equal vote in electing the board of directors who are charged with overseeing how the credit union is run. Credit unions open their doors to everyone who is eligible to join; they don’t discriminate. Credit unions are cooperatives; social media is fantastic because of the cooperation and sharing that occurs. Credit unions originally were created for employers or organizations in a single location, in other words, a location-based community of people who had something in common. Social media flourishes because people everywhere are finding and/or creating their own online communities based on criteria that are important to themselves, whether it be political, religious, occupational, or centered around comon hobbies, passions, pasttimes, locations, and all sorts of other common interests.

Social media is fundamentally democratic and cooperative, as are credit unions. Credit unions were born of communities; social media is community brought online.

But before diving further into Social Media and its ROI, let’s examine exactly what social media is, since it means different things to different people. I view social media as any way that people communicate with each other online. This is done on an individual as well as a group basis. Well, this was happening long before MySpace, Facebook, and Twitter started becoming popular. So why did the phrase “Social Media” catch on starting around 2004/05? At this point, Facebook wasn’t open to the general population; blogging and podcasting were the new and hot things. Bloggers and podcasters were starting to build community with their endeavors and were excited that they were creating what the authors of the Cluetrain Manifesto had talked about in 1998.

So if we define social media as online communication, conversation, networking, and media sharing, then it’s been happening for quite a number of years, as email, AOL, chat rooms, listservs, the web, and the like are not new by any means. And even more fundamentally, human communication has been happening via technology since cave drawings were painted, and continued on through smoke signals, telegraphs with Morse code, pony express, the telephone, radio, tv, 8-tracks, albums, cassettes, CB radio, VHS, DVDs, and many others.

Let’s examine the telephone for a second. The telephone is basically a one-to-one non-persistent communication technology. (Although via voice mail, it can also be persistent and asynchronous.) At one time, I’m sure the telephone was very expensive, and businesses were loathe to adopt a new technology that very few of their consumers possessed. But now we don’t question the ROI of every person having a phone, whether it’s on their desk, a mobile phone, or now a smartphone. And yes, we have people dedicated to running businesses’ telephone infrastructures. But we don’t dedicate one person or one department in an organization, put all the telephones in their office and say “you are our telephone department! You’ll be operating and handling the telephones for everyone in the organization! Anytime anyone needs to make a call, they’ll come here to use these telephones, and seek your guidance in how to use the darn things!”

Well, I think social media is about where the telephone was many decades ago, in terms of how businesses are thinking about being involved with it.

Also interesting is how everyone views social media differently depending on their background. Marketing looks at social media as an advertising channel, while journalists view social media as a threat to the traditional way of bringing people news. Customer service people see social media as a new method of communicating with people.

As for ROI, well, there have been quite a few Credit Union success stories in social media already. And there have been quite a few success stories for non-CU businesses in social media.

We don’t necessarily measure the ROI of attending an in-person networking event such as a Chamber of Commerce mixer. But we all intuitively understand how important networking is. Well, as William Azaroff has pointed the way, perhaps a better term for social media is online community, or maybe even better, online networking.

Bottom line: Social media is definitely not a panacea, cure-all, or get-rich-quick scheme. But it works great for businesses when it’s used as a way that makes sense for both the business and its customers. After all, communication is fundamental to human nature, business, and marketing, and these online channels, media, and community are all fantastic communication avenues. And oh, by the way, social media, and online channels, have in many respects transformed the way people interact with each other.

Second bottom line for credit unions: Did you notice how your physical community dispersed over the last ten years or so? Yes, a majority of your members still reside within a five mile radius of a branch, but c’mon, don’t tell me you weren’t excited when you discovered you had a handful of members several thousand miles from your nearest branch. Well, I’ve got news if you hadn’t figured it out already. While location-based communities and geographies are still important, and are more important than ever in some ways (The New Geography), there is a new community and it’s online. People belong to multiple communities online and are excited about them. There may be an opportunity for your credit union to also be a part of the online communities that make sense for your credit union, based on what makes your members tick.

Post Script: (As if this blog post weren’t long enough already), I think that while there are huge areas of credit union function that are in the process of being transformed by online communication, the most exciting one, which has the most potential for bringing credit unions back to the member-centric powerhouses they once were, is in governance. Right now, credit union governance is a closed-door black box despite the efforts of pioneers such as Ginny Brady. But it’s in governance that credit unions have the opportunity to engage with the members like never before; to bring better transparency, to throw open the doors to the board room, and get meaningful, frequent member interaction with the board and management decision making. I truly believe that’s what Ed Filene would have envisioned had he been alive in this generation instead of his own. While you can’t measure the ROI of social media/governance interaction by the members, it gets to the FUNDAMENTAL reason why so many people LOVE their credit unions:

Because it feels like it’s MINE.

If you spend thousands upon thousands of dollars on a “traditional” branding campaign, you won’t make nearly the impact as ACTUAL online engagement with your members about the way THEIR institution is run. This is also an advantage that credit unions will ALWAYS possess over banks. PRESS YOUR ADVANTAGE TO THE MAX!

PodCamp Boston 5 tomorrow!

September 24, 2010

PCWM_10SurveySays

PodCamp Boston 5 starts tomorrow, and I’m excited to be going there with my sweetheart, Lesley Lambert. Both she and I will be facilitating sessions on Sunday. Lesley’s topic is Advanced Twitter, and I’ll be facilitating a discussion on Geolocation. I’ve facilitated sessions on Geolocation at RE BarCamp Orlando and RE BarCamp Rye, and my slidedeck for it has been viewed 1,178 times on Slideshare.net. I’ll be modifying the presentation for the PodCamp environment versus the real estate camp.

This will be my third PodCamp Boston, and lucky 13th camp of any variety.

I love the things that happen at camps, the people, the sessions, the networking, the brainstorming, the learning, the teaching, the sharing, the connections that people make. Being somewhat of a Camp veteran, I especially enjoy helping newcomers have a good experience as much as I enjoy reconnecting with old friends. I also love “seeing” the camp through others’ eyes, especially Camp virgins, but I love veteran’s thoughts, photos, videos, blogs, tweets, and whatever other media is produced.

Here are some links looking back at my previous Camp experiences, including PodCamp Boston 2, where I knew no one going into it, but made some great friends:

Looking forward to what this weekend brings at PodCamp Boston 5!

Look who’s talking about YOU!

June 14, 2010

I’ve had the great pleasure of presenting this social media topic (or online community communication is perhaps a better term): Look who’s talking about you. I was first invited to give this presentation by Jodi Torres (Thanks Jodi!) of CU Tech group for her organization’s Spring Consortium in Boston. I also presented this information to the Northeast Harland’s User Group in Portsmouth NH (Thanks Andrea!), and will give a webinar on it for EverythingCU.com this Thursday, June 17, as well.

This information is based on my own online experiences, and also draws heavily on groundbreaking work done by William Azaroff way back in the dark ages of social media (approx 2006-07 AD). Way back then, blogging was still the primary connection media, meaning Facebook and Twitter had not yet exploded in popularity. I’ve also drawn on the experience of various PR professionals in how to handle critiques (and worse) of your organization online or offline.

Here is a list of resources for further exploration on the topic, as well as links to first-hand information I covered in the presentation:

WILLIAM AZAROFF, Monitoring your brand health
WILLIAM AZAROFF, Responding to bloggers
DREW McLELLAN, 6 Steps to take if your company is criticized in a blog post
JOHN SOAT, Reputations at risk
MORRISS PARTEE, Motrin gives itself a migraine
CHRIS LOCKE et al, The Cluetrain Manifesto
RYAN UNDERWOOD, Tell us what you really think
LESLEY LAMBERT, BofA is on Twitter for the win
STEFAN BETZOLD, SM Monitoring Tools-an overview
DAN SCHAWBEL, Top 10 reputation tracking tools
DARREN BAREFOOT, I wanted to love Vancity, but now I loathe them
CULLEN WATERS, Vystar CU – Worst bank ever
JEFFRY PILCHER, Fighting axe grinders and their online vendettas

Getting your member testimonials online

April 16, 2010

EverythingCU’s PlumWall continues to draw new member testimonials for the credit unions that have deployed it.

Here’s some of the latest stories that have been shared online:

Heartland CU in Minnesota:

“While on vacation there was a glitch with my Heartland VISA card. I can’t stress enough how the quick actions of Heartland Credit Union allowed my family and I to have a fantastic, uninterrupted vacation! An issue that has taken me days to correct at other banks was fixed within minutes! That outstanding level of customer service and attention to detail is what will keep customers loyal to Heartland for years and years. Thanks again to the terrific staff at Heartland CU.”

“Amy and Carol have always been great to work with. I have been a member for 15+ years and Amy just closed an auto loan for me super fast. It’s nice to see efficiency in motion & the personal touch they give. Many thanks!”

Innovations FCU in Florida:

“I recently switched to Innovations FCU because I was extremely dissatisfied with the customer service with my previous local credit union. I was very cautious….I checked out the online site first, then called the main branch to ask questions. The representative was extremely helpful. I have been banking with them for over 2 months and so far the experience has been extremely positive. No matter which of the 3 branches I have been to…. the customer service has been Wonderful! I use the online banking service… Great response when I had questions. I have been recommending Innovations to my family and friends!”

Centra CU in Indiana:

“Orchids to Rachel and Greg at Centra Credit Union, Edinburgh Branch for helping me so much when I discovered fraudulent activity on my account: Rachel for getting my card closed so quickly and Greg for refunding my account as soon as possible”

Fantastic that potential members are learning about the benefits of being a member of these credit unions!

Look mom, I’m an Author!

April 5, 2010

Props to Brent Dixon, aka @itsjustbrent, for alerting me to the Age of Conversation when the creators, Gavin Heaton and Drew McLellan, were working on their second volume. It was too late for me to throw my hat into the ring for that edition, but I placed myself on the waiting list, and was thrilled to be asked if I’d like to contribute to the third volume, which is now going to print.

My own contribution to this collaborative effort is on the subject of Twitter going mainstream in the Spring of last year (2009). Many decried this development, saying Twitter had jumped the shark, and the experience would no longer be the same due to the influx of newcomers. I point out that in all social media, not just Twitter, there is a different popularity dynamic at play than in the arenas that preceded it. It matters not a whit whether the cool kids or the hoi polloi are using the media; what matters is if YOUR friends, family, and colleagues are there. You control who you interact with. People are only brought into your zone of ambient awareness if you choose to have them there.

In volume two, authors in addition to Brent Dixon included William Azaroff and Ron Shevlin.

This year’s role call includes my sweetheart, Lesley Lambert, fellow PodCamp WesternMass goer, Jeff Cutler, and Christopher Morris (no relation).

The complete list of AOC 3 authors:

Adam Joseph Priyanka Sachar Mark Earls
Cory Coley-Christakos Stefan Erschwendner Paul Hebert
Jeff De Cagna Thomas Clifford Phil Gerbyshak
Jon Burg Toby Bloomberg Shambhu Neil Vineberg
Joseph Jaffe Uwe Hook Steve Roesler
Michael E. Rubin anibal casso Steve Woodruff
Steve Sponder Becky Carroll Tim Tyler
Chris Wilson Beth Harte Tinu Abayomi-Paul
Dan Schawbel Carol Bodensteiner Trey Pennington
David Weinfeld Dan Sitter Vanessa DiMauro
Ed Brenegar David Zinger Brett T. T. Macfarlane
Efrain Mendicuti Deb Brown Brian Reich
Gaurav Mishra Dennis Deery C.B. Whittemore
Gordon Whitehead Heather Rast Cam Beck
Hajj E. Flemings Joan Endicott Cathryn Hrudicka
Jeroen Verkroost Karen D. Swim Christopher Morris
Joe Pulizzi Leah Otto Corentin Monot
Karalee Evans Leigh Durst David Berkowitz
Kevin Jessop Lesley Lambert Duane Brown
Peter Korchnak Mark Price Dustin Jacobsen
Piet Wulleman Mike Maddaloni Ernie Mosteller
Scott Townsend Nick Burcher Frank Stiefler
Steve Olenski Rich Nadworny John Rosen
Tim Jackson Suzanne Hull Len Kendall
Amber Naslund Wayne Buckhanan Mark McGuinness
Caroline Melberg Andy Drish Oleksandr Skorokhod
Claire Grinton Angela Maiers Paul Williams
Gary Cohen Armando Alves Sam Ismail
Gautam Ramdurai B.J. Smith Tamera Kremer
Eaon Pritchard Brendan Tripp Adelino de Almeida
Jacob Morgan Casey Hibbard Andy Hunter
Julian Cole Debra Helwig Anjali Ramachandran
Jye Smith Drew McLellan Craig Wilson
Karin Hermans Emily Reed David Petherick
Katie Harris Gavin Heaton Dennis Price
Mark Levy George Jenkins Doug Mitchell
Mark W. Schaefer Helge Tenno Douglas Hanna
Marshall Sponder James Stevens Ian Lurie
Ryan Hanser Jenny Meade Jeff Larche
Sacha Tueni and Katherine Maher David Svet Jessica Hagy
Simon Payn Joanne Austin-Olsen Mark Avnet
Stanley Johnson Marilyn Pratt Mark Hancock
Steve Kellogg Michelle Beckham-Corbin Michelle Chmielewski
Amy Mengel Veronique Rabuteau Peter Komendowski
Andrea Vascellari Timothy L Johnson Phil Osborne
Beth Wampler Amy Jussel Rick Liebling
Eric Brody Arun Rajagopal Dr Letitia Wright
Hugh de Winton David Koopmans Aki Spicer
Jeff Wallace Don Frederiksen Charles Sipe
Katie McIntyre James G Lindberg & Sandra Renshaw David Reich
Lynae Johnson Jasmin Tragas Deborah Chaddock Brown
Mike O’Toole Jeanne Dininni Iqbal Mohammed
Morriss M. Partee Katie Chatfield Jeff Cutler
Pete Jones Riku Vassinen Jeff Garrison
Kevin Dugan Tiphereth Gloria Mike Sansone
Lori Magno Valerie Simon Nettie Hartsock
Mark Goren Peter Salvitti

(Hat tip: Fellow AOC 3 contributor Andy Hunter for the headline idea.)

Colorado Credit Unions are on the ball

October 8, 2009

open thinking summitIt’s been a great pleasure getting to know so many of our Colorado Credit Union friends. They are so lucky to live in such a beautiful environment! I know they’ll be using social media to further the CU movement with their membership in the coming days, weeks, and months!

A few photos from the event can be found on the facebook event page, and the slides I used for some background in the first part of the session are on slideshare.net.

Time to rethink Marketing 1.0 techniques

April 17, 2009

My new friend, and Amherst native, Ron Miller has graciously allowed me to be a guest author on his new blog, Social Media 101, which is co-created with Julie Roads.

I met Ron through mutual friend Tish Grier, who brought the two of us together, along with Ann Kingman, to be on a social media panel for the Hidden Tech group of Western Mass.

My guest post describes how those brought up in traditional marketing must adjust their mind-set in order to thrive in World 2.0.

It’s an honor to appear on Ron’s and Julie’s excellent new blog!


Follow

Get every new post delivered to your Inbox.

Join 2,902 other followers