Also seen on CUES Inside Marketing.

The old saying, “Imitation is the sincerest form of flattery,” reflected on Facebook’s recent move (June 12) to include clickable hashtags on its users’ posts just like Twitter, Instagram (owned by Facebook), Tumblr, and Pinterest already allow. Like these other social media sites, Facbook hashtags let users see a feed of what other people and pages are saying about a particular event event or topic.

For example, the National Basketball Association (NBA) had a hashtag for its exciting finals series, #NBAFinals, that allowed millions of fans to connect and share their opinions, thoughts, and observations before, during, and after the games. Instead of thousands of random streams from people commenting on the games never connecting, a hashtag allows interested users to follow a single stream, #NBAFinals in this case, and contribute to the discussion.

Again, this is nothing new for social media networks like Twitter, as followers have been able to follow specific tweet streams on anything from various professional conferences, classes, and issues to movies, games, and travel tips – and tons more. A hashtag can virtually be used to connect anything. Now Facebook’s more than a billion users can leverage hashtags to:

• Search for a specific hashtag from your search bar. For example, CO-OP Financial Services’ recent THINK conference hashtagged: #THINK13.
  
• Click on hashtags that originate on other services, such as Instagram.
  
• Compose posts directly from the hashtag feed and search results.
  

According to Facebook, hashtags are just the first step to help people more easily discover what others are saying about a specific topic and participate in public conversations. The world’s largest social media network states that it will continue to roll out more features in the coming weeks and months, including trending hashtags and deeper insights, that help people discover more of the world's conversations.

So what does this mean for credit unions? Nothing if you don’t use them. But if you do – and you should, credit unions can easily leverage Facebook’s hashtags to do a number of things that will help further promote the movement:

1. Credit unions can band together and create a single hashtag that will unite the industry for a larger group to create and promote momentum regarding various issues, events, and news.
2. Segueing from the last point, specific issues, events, and news can have their own hashtags for followers to join and discuss. Bank Transfer Day (#BankTransferDay) was a perfect example. More recently, CUNA’s “Don’t Tax My Credit Union”’ movement has the hashtag: #DontTaxMyCU – which is supposed to help motivate 96 million credit union members tell Congress to keep its mitts off our not-for-profit cash.
3. Industry events can even be hashtagged for attendees to follow along regarding the latest conference news, upcoming sessions and speakers, entertainment, issues discussed, etc. CUES’ upcoming CUES School of Mortgage Lending™ will have a hashtag for its students to follow any mortgage-related discussions at: #CUESMortgage13.
4. Individual credit unions can announce new products and services (#XYZGoesRemoteDeposit), community events (#JoinXYZCUbeachcleanup), branch openings (#VisitMainStreetBranchOpening), webinars/seminars (#XYZCUinvestingseminar), or they and their members can join in the #DontTaxMyCU fray.
5. Credit union members can also participate by creating their own Facebook hashtags to discuss their experience using mobile services (#XYZCUgoesmobile).
   

The list of hashtags is literally endless. They can be serious, humorous, informative, clever, or dull – whatever the person or organization’s fancy is at the time. Just make them relative to the topic of event. The end result is that hashtags make it so easy to follow a specific conversation on a specific event or topic. Without them, these fragmented discussions would more than likely never connect.

Now that Facebook has included this feature to its wall posts, it means a world of increased opportunity for credit unions. Twitter, Tumblr, Pinterest, and Instagram are mere fractions when it comes to a user numbers comparison. As mentioned earlier Facebook has exceeded a billion users. Twitter is at 550 million, Tumblr is at 24 million, Pinterest is at 48 million, and Instagram is quickly ballooning to more than 100 million users.

For credit unions, the amplified exposure of their hashtags on Facebook – whether they originate on Twitter, Instagram, Tumblr, or Pinterest – means tapping into a whole new and much, much, much larger audience to spread their message. As Martha Stewart often cites after a successful baking or craft venture, “That’s a good thing.”

If used correctly, the results of Facebook’s new clickable hashtag feature could open the credit union name/brand to potentially millions more consumers worldwide. A simple well-constructed and well-placed hashtag has the potential to blow the doors off the credit union industry’s recent increase in growth. As credit unions, associations, vendors, and members, don’t we all want that?

What hashtags have you used in the past that resulted in successful, promotional conversations? How do you plan to leverage Facebook’s hashtag feature?

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Recently CIO magazine ran an article about 13 companies that are killing it in the content marketing world: The Content Marketing Hall of Fame: 13 Ways to Build Your Business. I found this story very appealing and timely for credit unions that may – or dare I say: “should be” – looking for new ways to get the word out about themselves without spending a fortune in advertising.

Listed below are a few choice candidates from the article and my take on how a credit union could benefit…

River Pools and Spas

In 2009, River Pools and Spas, like many firms, was struggling through the recession. Today, the Warsaw, Va.-based company has the No. 1 pool-related site in the U.S., says social media and content strategist and author of the forthcoming book Youtility Jay Baer, thanks to its helpful blog and basic "Pool 101" content. The company has grown by 15 percent but reduced its marketing expenses by 90 percent—all through content. "They write blog posts instead of buying ads," Baer adds.

This is something I have been preaching to credit unions – or any company for that matter – for a long time. Provide your audience with expert information instead of sell, sell, sell and you will reap the benefits. The proof is in River Pools and Spas’ 15 percent growth from its “Pool 101” tips and advice. This content has positioned the company as a subject matter expert, building trust with its audience by providing practical, helpful information. This trust ultimately leads to sales because everybody wants to do business with people they trust.

My Starbucks Idea

My Starbucks Idea is a website that solicits product, experience and involvement ideas from Starbucks customers. The site, which recently celebrated its fifth anniversary, has put into action more than 277 ideas submitted. My Starbucks Idea "shows the staying power of great content generated by the community," says Michele Linn, director of content development for the Content Marketing Institute. Starbucks fans have submitted more than 150,000 ideas to date.

Ok, Starbucks is the monster gorilla on every corner in the U.S. and business seems to come easy for the coffee giant. But there’s a reason for its success: Starbucks is always keeping its feelers out for new ideas to reinvent itself – and who better to listen to than its own java junkies. Even this multi-billion-dollar company has a channel to listen to its customers for new ideas to keep its offerings fresh. For credit unions, the lesson here is no matter how big or small, take time to listen to your members for new ideas to increase the value of your institution. It will pay off in the long run.

Taxi Mike

Every quarter, Taxi Mike updates and distributes copies of his printed guide to dining and bars in Banff, Alberta (a town of 7,600 within Banff National Park). This "one-man Yelp," who drives a taxi and offers computer repair services, maintains a website for his Banff recommendations, too. "This is my favorite small business example of content marketing," says Baer. Taxi Mike's tourist guide content is engaging and helpful and isn't about Taxi Mike at all. It’s about serving his target customers' interests.

This example segues from Rivers Pools and Spas but branches off to not talking about yourself but providing helpful information instead. Yes, we know that credit unions have super low rates and their service is second to none – and many even have the latest tech services to level the banking playing field. That stuff is fine to promote. But don’t just focus on those items. Offer helpful financial advice that’s not relative to your credit union’s products and services. Your members and prospective consumers will see it’s not about you; it’s about them.

Dollar Shave Club Video

The Dollar Shave Club video is "funny and appeals to a wide audience," says Brynna Baldauf, Internet Marketing Strategist for Vertical Measures, a content marketing and link building agency. "It also communicates all the necessary information in a short time, and it makes the decision to sign up something that seems to have no bad side effects. The video is written completely about the product without coming off too serious or stereotypically 'salesy.'" This viral video, viewed on YouTube more than 10 million times, helped launch the small company in a big way.

I included the Dollar Shave Club just for the sheer genius and hilarity of its video that shot this company to the top. If you’re interested in creating videos for your credit union, please watch the video to see how it’s really done. (Watch out for the bleeped expletive at the beginning, though.)

OpenView Venture Partners

OpenView is a venture capital company that has significantly increased its name recognition through content such as podcasts, videos and a highly active blog. Everyone at OpenView creates content—and compensation is partially tied to the effectiveness of their content, Baer says. "It used to be that when they called on small companies, no one had heard of them. Now people they visit say they read OpenView's blog all the time."

I like OpenView’s view on blogging. Just about everybody at the firm contributes to its content marketing in some way – which keeps everybody at the company engaged and its audience, as well. Because of the firm-wide participation, its audience is familiar with the company’s staff – which puts a face on the firm. Smart. Same thing at your credit union: If you have more than one person contributing content (mortgage lending, investing, tech services, member education, events, etc.), your members will get to know these staffers intimately and start to rely on them for helpful financial information that adds value to your credit union. Verity Credit Union is a perfect example having 14 of its employees contribute to its blog page – which is prominently displayed on its homepage. Another good move.

American Express OPEN Forum

For years, the American Express OPEN Forum has provided practical advice and helpful resources for small businesses. Recent articles have focused on Google Hangouts, tips for motivating teams, and how to be productive under pressure. "OPEN Forum is like a top-flight online magazine that happens to be sponsored by American Express," Baer says.

There’s a running theme in most of these examples: providing practical information that has immediate value for your audience. Having an online magazine, like OPEN Forum, sponsored by your credit union that’s loaded with helpful information delivered in a multimedia format is a surefire win. Again, if it’s presented in an efficient manner and the information is more than useful, your credit union will become a trusted resource for members and prospective members to do business with. It’s that simple and it works based on the sampling of companies in this article. There are thousands more success stories out there; you can be one of them. Be sure to check out the rest of the Content Marketing Hall of Fame examples at CIO.com.

What is your credit union doing to consistently create quality content that helps it become a trusted leader in the financial space?

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I recently had the privilege of seeing Harley Davidson CEO Ken Schmidt give a keynote address at the CSCU Conference in St. Petersburg, Fla. I didn’t know what to expect but liked his background of bringing Harley Davidson back from the brink of extinction to being today’s premiere motorcycle builder. But tying in his experience to credit unions would be a reach – or so I thought.

Instead of telling consumers that his motorcycles were innovative, well-built, powerful, fun to ride, and so on – as most motorcycles are, Schmidt said that he avoided those overused marketing and business labels when promoting his bikes. The above descriptions could describe any of his competition and he wasn’t going to go there with Harley Davidson. There had to be a solid reason why a motorcycle enthusiast would buy a $24,000 Harley Davidson when they could easily buy essentially the same bike made by Honda for $8,000?

Unlike most Honda motorcycle owners, however, Harley Davidson owners are passionate about their bikes – really passionate. How did they create this passion when just 20 years ago, the company nearly closed up shop? Schmidt allowed his customers to become human beings. Against all conventional wisdom, he transformed his customers into human beings who became disciples of the brand. How did this happen? He let them own their Harleys.

Well, they bought them, so they should own them, right? Yes, but he allowed his Harley disciples to build their own bikes, providing them with custom parts to individualize their rides so when they pulled up aside another Harley, each rider could compare – or simply show off in front of other motorists and pedestrians. The key ingredient in this recipe is: “me”.

Schmidt added that we all have a “look at me” complex and riding an eardrum shattering, custom chromed-out Harley Davidson is one of the ultimate ways of telling people to “look at me”. It’s unavoidable. As a result, these folks have true ownership in their bike and they are not shy about it. It’s theirs and only theirs, but they are more than happy to share what’s theirs so others will take notice of them – especially other riders. And that’s what passes on the word about Harley Davidson and creates this sought after discipleship. This discipleship is where their repeatable message occurs.

One proof-in-the-pudding note before proceeding: $24,000 Harley Davidsons outsell $8,000 Hondas 13 to 1.

So what does this message mean for your credit union?

Sure, you can boast about your tremendously low rates, excellent services, and cutting edge technology services. But nearly every other FI is saying the same thing – whether it’s true or not. Since these attributes are somewhat commonplace throughout the FI world, what’s unique about you? Here’s where you will find your repeatable message? What are you doing that will get your members talking about you?

Harley Davidson has its devote “motorhead” disciples. Apple has its loyal “think different” followers. And Las Vegas has its daring “What Happens in Vegas Stays in Vegas” audience – which ironically prompts the opposite action: people DO talk about what happened to them in Vegas. And it has obviously proven very effective for the city.

Each of those examples, and there are plenty more, represents a repeatable message that easily spreads via their disciples to create a buzz about the brand almost effortlessly. Harley riders, iPad users, and Las Vegas visitors talk relentlessly about their experiences – not how much it cost or how many features are offered or why they visited. They talk about the experience – and it’s repeated.

What experience does your credit union provide a member? Is it memorable? Is it repeatable? Will it spread?

What is your repeatable message that a member can spread to the masses?

How will a member truly take ownership of their credit union and spread the word? For example, do they really know what it means to be a member/owner? Is this important fact succinctly and effectively stressed in any marketing efforts?

As Schmidt stated in his presentation: “Don’t be the best-kept secret in town.” Provide a unique experience for your members that is shareable, repeatable, and viral. Give your members something that will fuel their passion and prompt them to become disciples and nurture that “look at me” complex that drives us all – that ultimately benefits you.

If you would like to discuss your repeatable message, let's connect today.

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