What would your credit union look like if it took a picture of itself? Are you just chugging along like a rusty, 300,000 mile '72 Buick or are you quietly zipping down the Autobahn like a silent-but-speedy 2014 Tesla? Check out our list of "to do's" and see if you're ready for 2014.

Originally published on CUinsight's Community section.

Every morning on the way to school, my 13-year-old daughter flips down the passenger seat visor, opens the mirror cover, and checks her hair and makeup ensuring she’s ready for another big day on campus full of learning, laughing – and boys. (Oh yeah, she better have her homework done, too.) Before she flips up that visor, she fires up her trusty iPhone with the pink polka-dotted cover and snaps a quick “selfie” to post on Instagram for her “besties” to comment on. All this before 7:30 a.m. (PST).

This sunrise tradition is rampant among the kids her age. In a semi-narcissistic kind of way, it’s kinda cool. But it got me thinking about credit unions and their image of themselves toward their besties – a.k.a. members or even consumers. What would your credit union look like if it took a selfie?

Here’s a quick checklist, in no particular order, to take you into the New Year…

• Are you offering the latest online/mobile services?
• Are you consistently involved in community events or projects? Think “reciprocity” for these outreach efforts. Check out VanCity’s participation in Sole Foods as an example.
• How are your social media efforts? (Or do you even have an effort in this area?) If you’re still “poo-pooing” Facebook, check out Navy FCU’s recent $200 million windfall using its Facebook page.
• How does your branch look? If it’s looking a little rough around the edges, read Shari Storm’s (Verity Credit Union) post on neat and clean branches entitled: “Looks Matter”.
• How is your core processor running? Is it chugging along like an over-driven ’72 Oldsmobile? Or is it humming along like a silent-but-speedy 2014 Tesla?)
• How knowledgeable are your tellers about your products and services? Don’t let them respond to a member’s inquiry with a deer-in-the-headlights look. Prepare them for the inquiry and the cross-sell, as well. Your bottom line will thank you.
• Has your staff been trained to spot and assist financially challenged members? (see how Pelican’s Jeff Conrad had his entire staff trained as Certified Financial Counselors)
• What’s up with your website? Does it resemble an ancient, hieroglyphic DOS program or is looking resplendent in all its multi-screen-sized, “responsive” glory – sans Flash?
• How about your online and/or mobile new member, sign up app? Does it have more hurdles than an equestrian steeplechase or is it as smooth to use as a freshly “Zambonied” hockey rink? You might want to give it a test run every now and then.
• And your CEO? Is he/she set to retire in a few years? If so, how’s your succession plan look? Don’t be left in a lurch looking for top-tier talent. Your credit union and its members deserve quality, yet bold, leadership.
• Does your Board need to get a bit younger to address today’s younger generations’ needs? USC Credit Union in Los Angeles has a college student(s) on its Board for just this reason, letting the CU staff know if their services are sour or spot on. How about you?
• And speaking of younger generations, how does your credit union look to them? These folks are going to be your members pretty soon as they approach their prime earning years. What are you doing to address their needs as tomorrow’s demographics change in their favor? Can you say mobile?
• Totally switching gears here: How about your credit union advocacy efforts? Does your local representative even know what a credit union is? Do you just visit Capitol Hill during the GAC in D.C. once a year, hoping your Mr. Smith Goes to Washington senator remembers you from the previous year’s visit? He/she may not – especially during an election year. If you are complacent in contacting your representative, start your New Year off right by consistently keeping in contact with them. It will pay off when there’s a credit union issue up for a vote on the Hill.

I’m sure there are a gazillion other items to include on this “CU selfie” checklist. But these seem like pretty important ones to consider that will help launch your credit union to more prosperous 2014. So take a moment, fire up that iPhone, and snap a quick pic. What do you see?

Have any questions on how to get prepared for 2014? Give us a shout and let's connect! 
mike@dmlcommunications.com

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Transform from a transactional primary financial institution to a bonafide primary financial resource.

Originally published in Credit Union Management magazine’s Web-only “Inside Marketing” column runs the third Thursday of the month.

There’s a giant ocean wave that breaks on the north side of Maui each fall and winter called Pe’ahi (PAY-ah-HEE). It’s a wave so big that it would crush most credit union headquarters, leaving little left in its wake. It has been nicknamed “Jaws” by the locals because of its immense power and ferocity.

But we’re not here to discuss how Mother Nature can destroy man-made structures with one swipe of her hand; we’re here to discuss how this massive wall of saltwater can transform your credit union – metaphorically, of course. You see, everything has a “give and take”: relationships, exercise, business, food, weather, and, yes, waves.

Amazingly, surfers ride these 60-foot behemoths, skirting death each time they even try to catch one – let alone surf one. 

What the wave, Pe’ahi in this case, “gives” is that life-changing experience for the surfer: a) hopefully surviving, b) hopefully riding one (successfully), and c) ultimately getting to tell all his/her buddies about it boosting their big wave riding cred. These are “takes” for the surfer. Conversely, the surfers’ “gives” to the wave are respect, reputation, and a boatload of gratitude. Lastly, we pray that Pe’ahi doesn’t experience any “takes” – if you know what I mean.

Ok, let’s get out of the water and into your credit union.

Credit unions already give a lot to members: Low rates, free checking, nationwide ATM access through shared branching, mobile and online access to accounts and friendly staff. But what about financial guidance? Are you a resource for them? Are you their go-to money expert? 

Most members won’t need more than transactions. But do you want to stick to that superficial relationship? In this day of social media, is that all you want to be? 

Social media can be great for sharing interest rate specials, quick product promos or your CU’s funny TV commercial. I’m a big fan of social media and its real-time communication capabilities. But can you use the unique two-way conversation opportunities that social media sites provide to give members more empowering information? For every promotional post you make, try making two educational posts. Try how-to articles on such topics as retirement savings, investing, budget tips, etc.

But don’t just save the how-tos for social media. Think of ways to incorporate your financial resources into all touchpoints. What is your new member account opening process? You get them set up with a checking and savings account, right? Provide a list of ATM and branch locations, certainly. Ask about refinancing loans (I hope!). When you’re handing them that pile of brochures, why not also include an article about building wealth?

When a member applies for an auto loan (take), you could give articles about car shopping and a list of reputable mechanics.

When a member applies for a mortgage loan (take), you could give articles about the home buying process, what appraisals are all about, information about local schools and neighborhoods, plus lists of realtors and movers. 

Here’s the real take: Consumers out there in any asset category want financial assistance. And there are lots of ways you can give it.

$64 million/12,500-member Natco Credit Union, Richmond, Ind., recently opened a Community Empowerment Center, using funds it received via a Community Development Financial Institution grant. This CEC is a financial resource center to help consumers who have been hit hard by the economic downturn that devastated the area’s businesses. Natco CU has proactively constructed this center to give back to its community. In return, the CU hopes to gain a few more members who can use its other services to help regain their financial footing. Can you say “reciprocity”?

Here’s another example. At $218 million/35,000-member Pelican State Federal Credit Union in Baton Rouge, La., every employee is certified as a financial counselor. The CU’s CEO Jeff Conway, a CUES member, explains in this YouTube video why the made this step. The CU’s membership was struggling in the bad economy and they needed help. “Empower everyone” is the CU’s slogan, he says. “Being able to assist the member, that’s what it is all about … We want to be the credit union that is there to assist them.” Now, each employee is qualified to provide that assistance to members at every touch point. The credit union is truly a financial resource to its members.

Your competitors are all great at transactions. But when you can be a financial resource, you can set yourself apart and be the trusted advisor that keeps members coming back. 

And, again, like Pe’ahi, there is a boatload of gratitude. This give and take creates a need to go back. When surfers survive and thrive there, they have this digging desire to go back again and again for that addictive, life-changing experience. The reputation subsequently grows.

Don’t you want that for your credit union?


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The first question you’re probably asking yourself is: “Why would I want my credit union to become a media company? We’re not Forbes; we’re a financial services institution.”

Wait a minute. Why can’t you be Forbes? You are a financial services provider – not just a transaction provider. You are not simply an ATM; yo_u help people. Your not just a website or mobile app; you give people second chances to improve their lives. You are a financial resource, an educator, a community developer, an answer to your members’ monetary issues. These “missions” position you as a trusted leader in the marketplace.

There are millions of people out there who need financial help. They need help with financial planning, debt relief, investing, buying a house, retirement, etc. And many don’t know where to get it. As credit unions, providing this type of helpful information on a consistent basis vaults you to that trusted leadership position to be their hero. That’s slightly huge.

I’ve been kicking around this media company topic for a while now. It really hit home for me after listening to a Social Media Examiner podcast with “Your Brand: The Next Media Company” author Michael Brito, who’s been focused this subject for most of his professional career. With content being king in today’s marketing court, being a – or like a – media company can be an effective “attention getter.”

Brito identifies five media company characteristics:

1. Storytelling (know your message)
2. Content (generate it)
3. Relevance (provide relevant content according to your business)
4. Ubiquitous (be everywhere!)
5. Agile (be able to produce and post often)

Let’s get to the brass tacks here: If you know your core message, as all media companies do, you must convey this message consistently in numerous channels – not just social, not just ads, not just the news. Being the best kept secret in town is lame. It’s hiding. You want to be the best kept, best known financial institution for consumers’ first choice.

To achieve this goal, you must tell your story time and time again. Media companies, or even businesses that act like media companies, generate consistent, helpful content to their targeted audiences. They also transcend their core services.

Brito pointed out how Red Bull has become a media company. Yes, the company provides energy drinks to the masses. But that’s not its message. Its message is epic events, empowerment, and a “do anything” attitude.

Red Bull was the major supporter of the Red Bull Stratos skydiver who broke the world record last year practically jumping from the moon. Red Bull was synonymous with that “epic event.” I expected Red Bull to support that event because that’s what the company is all about. It also builds snow-covered half pipes for professional snow boarder Shaun White to help push him to new heights, so to speak – which enhances their brand each time he wins. Sounds like reciprocity.

That’s Red Bull’s core message and it spreads like wildfire in multiple channels. How can we tie in this model with credit unions?

“We’re not building half pipes for anybody or helping people jump out of a capsule from space.”

You’re probably right – but it would cool if your credit union did.

How about doing what Natco Credit Union did this summer, using a CDFI grant and building a Community Empowerment Center to help its area residents get back on their feet after experiencing the fallout of a crappy economy. Natco put the word out in the news, videos, member newsletters, social media channels, website (on the homepage!), etc. Natco not only built a highly valued center, they generated tons of content to support that effort. Now the credit union is an even more prominent leader in its community helping residents – and may get many of them to become members of their credit union.

Brito provided another example of a company that sparks its audience with in-house generated content: IBM. With thousands of employees, surely some of them can be qualified to provide objective, helpful stories for consumers – event if they don’t purchase IBM products. IBM leverages its choice employees to tell stories about cool things IBM is doing inside and outside of the company walls. It’s a kind of “behind-the-scenes” or inside look at IBM, which is called “brand journalism”. This consistent content generation from employees, again, builds trust for possible business down the road from peers.

A credit union that comes to mind, which does the same thing (but didn’t copy IBM), is Verity Credit Union. Verity is extremely progressive and aggressive in its content generation. It has more than a dozen employees generating helpful, insightful content for its members, anything from mortgage lending, HR issues, investments, financial technology, business services, and more. It even has a program called “VerityMom,” hiring a Seattle-based mom to provide relatable mom-type info and advice through daily blog posts, Twitter, Facebook, YouTube, etc. to other area moms. This program even generated more content for Verity through the Seattle media. Verity is essentially a media company.

Ok, you’re probably thinking that this is a lot and not every credit union is a Verity having a dozen or more employees able to contribute. In fact, the number one issue holding many credit unions back from generating consistent content is lack of resources. Many credit union employees wear multiple hats – even CEOs these days.

Here are a couple of probable resources Brito provides:

Contently and Ebyline have a network of journalists, bloggers, and influencers who will write content for you. All you need to do is write the creative brief and then hire writers to write the content on your behalf. Of course you get to review and approve it prior to posting.

So where do you start? Brito recommends keeping it simple defining your content strategy through the following questions:

• What is it that you want to say?
• How do you want to say it?
• Where do you want to say it?

To be a media company, you don’t have to change your core. You simply provide your core message to the masses on a consistent basis. You also don’t have to like Forbes or IBM or Red Bull or Verity or Natco. But perhaps you can take pieces from their efforts and tweak them to suit your content generating needs. Again, keep it simple – the best things usually are. Provide your audience with a consistent, value-add message that boosts you to a trusted leadership position for more business down the road. No time to be a best kept secret anymore.

Originally published on CUinsight.com at: http://www.cuinsight.com/can-your-credit-union-become-a-media-company.html#sthash.AzldIlBe.dpuf

CUNA Technology Council just posted a video white paper on four credit unions' stories of their natural disaster experiences and how their disaster recovery and business continuity plans helped get them back in business -- so to speak. Riveting stories all of them are.  Here's the trailer for a sneak peek...

If you want to see all four stories, visit CUNA Technology Council's website where they are posted for viewing. Enjoy!

This powerful animated piece from Chipotle Mexican Grill, whether you like them or not, is very well done – and has been viewed on YouTube more than six million times – with nary a mention of Chipotle until the very end. Nice strategy. When I watched this video, however, I didn’t see providing fresh food as a revolution; I just saw it as smart and creative to enchant the consumer.

Check it out…

Working with credit unions all these years, I also connected the dots to our industry – along with the constant lobs of banker contentions. I kept seeing the video’s guilt-ridden protagonist, the scarecrow, as our industry providing a fresh, financial revolution. This video, sans scared cows and steroid-injected chickens, has credit union written all over it. It has an oh-so a subtle undertone of Apple’s famous “1984″ Orwellian Super Bowl ad of destroying the impersonalized status quo. The Chipotle scarecrow, however, is a kinder, gentler hammer thrower.

The video’s premise, with a beautifully-done rendition of Gene Wilder’s “Pure Imagination” from Willy Wonka & The Chocolate Factory, shows the disgruntled and remorseful scarecrow working for a monster fast-food corporation “manufacturing” and serving unhealthy, fabricated food – one could easily interpret. Disgusted with his professional lot in life, the scarecrow’s guilty conscience gets the best of him and he decides to make a change. He starts his own eatery serving healthy, fresh entrees (Chipotle’s differentiator) to consumers. In the financial services arena, this is essentially credit unions’ aim.

A number of recent credit union campaigns, CUNA’s “Don’t Tax My Credit Union” for instance, have done a fine job on Capitol Hill – along with other industry association’s efforts: NAFCU’s annual Congressional Caucus – have served this aim quite well. But Bank Transfer Day has to be the closest undertaking to a consumer financial revolution in the industry’s history. Kristen Christian was our fortuitous protagonist making that bold, first move. (No, I’m not going to call her our Chipotle scarecrow; that would be plain wrong, rude, and ridiculous. But I think you get her advocate perspective.)

What I am saying is that this industry is loaded with Chipotle scarecrow storyline potential, full of “Pure Imagination,” and full of fortuitous protagonists who can make a difference and champion an industry to act for the better. This animated piece has people who mindlessly take what they are served because they may not know any better – until somebody steps up and provides them with a better way. Ahem, credit unions. Our recent efforts have generated impressive results with membership increases. But now is not the time to get complacent.

Since video is such a powerful medium, I challenge any talented animator in the credit union industry (and I know who you are) to create something similar for the credit union movement – a powerful, viral piece that can spark an even bigger “moving-to-credit unions” migration than we have experienced in the last year or so thanks to so many folks’ efforts already. I, along with others, would enjoy seeing what you can create. And we will certainly feature them on CUbroadcast for all to see. 

You up for the challenge?

Article originally posted on CUinsight.

We all know how time-strapped today’s credit union employees are. They wear many hats to make their organizations run lean and mean which ultimately contribute to better serving their members on a daily basis. Any time they can use a tool, app or workflow to ease the workload, it is a welcomed invitation.
 
Newsletters are ideal community builders with your members to promote products, educate on finances, and enhance the image of your credit union. But as any marketer will tell you, they can be a bit laborious to produce on a consistent basis. So if there’s a newsletter answer that makes the whole production process a snap, it might be an option to try.

Heard of Paper.li?

Lifting some info from its website, Paper.li allows you to automatically find, publish and promote the articles, photos, and video you follow online. It’s a “set it and forget it” application that goes out to your audience every day, while building their trust in you. Best of all Paper.li is free – although you can sign up for a pro version that provides a plethora of additional features.

Sound like a commercial, don’t I? That’s because I have been using Paper.li for at least a couple years (The Daily DML) now and I haven’t had to mess with it once during that time. I have set it up to automatically publish marketing articles, tweets and posts that I follow so my audience can benefit from top quality content every day. And, again, I don’t have to do a thing anymore. But I could if I wanted – and probably should at some point.

Yet, the feedback and retweets I receive from this daily publication are phenomenal. Not a day goes by that I don’t get a “thanks for the mention” in my Twitter feed from somebody I follow on Twitter who was automatically included in The Daily DML. It has given me heaps of exposure with very little work. So the return has been tremendous.

For credit unions, this is a no brainer. If you want to provide your members with practical, financial content, then Paper.li is something you should consider to complement your current efforts.

To set it up, all you do is sign in via your Twitter or Facebook account, and your Paper.li publication automatically aggregates your follower’s tweets and posts the most popular ones. You can also set it up to follow certain publications.

I have set up mine to follow financial newspapers, blogs, and other financial and marketing related content. Paper.li does the rest, spitting out a daily pub with practical, timely and related content that my subscribers enjoy – and can use!

Same goes for your credit union. Why not give it a look?

For the sake of this article, I created a new Paper.li newspaper based on my CUbroadcast twitter feed – aptly named The CUbroadcast Feed. This daily publication covers finance and credit union news based on my followers’ content, which are primarily credit unions and companies that focus on serving credit unions. In addition, I set it up to follow financial news from The Wall Street Journal, The New York Times, CNNMoney.com, Reuters Business, Harvard Business Review, and more.

It took me all of 10 minutes to create it. I’m done – until I need to upgrade to the pro version.

Once the online paper is automatically produced each day, it is sent to my email address and posted in my CUbroadcast Twitter feed for all to see and review. Any time one of my Twitter followers is mentioned in the publication, they know about it and many times reply or retweet – which bodes well for my Twitter feed, as it spreads the news even further, promoting more followers to join The CUbroadcast feed. This continued attraction only generates more financially related news for more followers, which fosters the cycle once again. It only gets better with time.

The same can happen with your credit union’s Paper.li feed. The more news it generates – including yours – the more followers it can attract and therefore create more content that draws even more interest. Again, it’s a cycle that only fosters more interest and more growth over time – ultimately building trust with your followers.

Some of the features a Paper.li provides include:

• scheduled updates;
• subscriptions;
• bookmarklet;
• editor’s note;
• tweeting;
• embeddable;
• custom background; and
• usage statistics.

So for credit unions looking for an answer to complement their current marketing efforts with very little effort and bigger returns, check out Paper.li to expand your presence and build additional trust with your audience – a.k.a. your members. Oh yeah, did I mention that it’s free?

Previously published in CUES Inside Marketing.

One of the hottest marketing trends right now, besides mobile this or that, is educational audio podcasts. Yes, these helpful, verbal productions have experienced quite the resurgence lately, as it seems more and more marketers in various industries are producing them to help educate their audiences in a very personal manner. People enjoy listening to these podcasts because they can work, travel, or relax and gain some insightful factoids at the same time. And, even better, they can listen to them when they want.

In an age when educational content is king, there are a number of credit unions pumping out this info already in a written format. That’s great, but writing nice stories about member successes aren’t enough anymore. Today, you have to do more for your member.

Sometimes doing more means doing something different. That may mean producing a financially focused podcast – which is still considered different even though this medium has been around for a while. Based on their extreme scarcity in the credit union land, they are incredibly different. Time to re-use those written member anecdotes as peer-type examples in these educational productions to complement your message and spread the word.

Expose your message to thousands

An educational business podcast is not the end all-be all, but it is another effective means in your multi-communications collection that will cost-effectively and consistently expose your message to thousands – who may share your podcast’s educational content, as well. There are overserved, underserved, and just plain served consumers out there looking for a change, looking for answers, looking for help. Your practical audio productions, conducted consistently, position you as a financial services leader with the solutions for these folks. Who doesn’t want that?

Most credit unions already host advice-laden, weekend seminars on such valuable topics as investing, debt management, mortgage lending, retirement, financial literacy, etc. These events are incredibly valuable and many members attend. But hosting a live seminar is only scratching the surface of your membership. Again, expose that same message in different channels. Create a wide-reaching, online podcast series based on the same seminar topics. Here are a few ideas you have probably already thought of:

• “5 Steps to Getting Out of Debt”
• “6 Simple Ways to Qualify for a Mortgage Loan”
• “7 Secrets to Saving for a Robust Retirement”
• “10 Vacation Tips that Won’t Sap Your Savings”

Not only do these messages resonate well with live attendees but, once more, they will resonate well with an exponentially larger audience: the thousands of members who visit your site every week – and possibly a few prospects, as well.

Since folks always seem to be short on time these days, the “series” format keeps these podcasts short and convenient. This format also creates a bit of anticipation for the next part yet to be aired, which is a good thing because it drives more traffic to your website.

But the series format is a one of many ways to generate interest for your podcast – just like any cliffhanger TV show or movie. The audio podcast’s bigger intent, however, is to create a voice for your credit union: a voice of help, education, and trust. Providing your members with this trusted voice creates future business. But don’t hide your “voice” on some remote, dusty page on your website. Post this recording on the front page where everybody can see it, listen to it, and share it.

Reasons not to do a podcast

So why isn’t your credit union producing a weekly, educational audio podcast to help your members?

We don’t have time.

We don’t have the tools.

We don’t have the staff.

We don’t have the funds to support such an endeavor.

These are excuses that stop you dead in your tracks instead of crushing them with a bold communications vehicle that generates value and interest for your credit union.

Time: A podcast doesn’t have to be 30 minutes of you articulating the virtues of proper financial responsibility. It can be a couple minutes, preferably, of you pointing out three ways to save for your child’s college education, a tip or two on teaching your kids’ the value of money, or how to get pre-approved for an auto loan. Pretty simple and short, yet highly effective and educational, financial topics.

Tools: If you have an Apple (iMac or MacBook), it comes bundled with a program called Garageband. You can easily produce your podcasts with this tool. If you have a PC, try Audacity – a free, open source, cross-platform software for recording and editing. (If you want professional quality sound, you may want to invest in a decent microphone: Sennheiser, Blue, and Rode are a few quality brands.)

Staff: All you need is one person to record, produce, and post these pieces. Again, the tools mentioned above are simple to learn and use. A requirement, however, would be that this person or people be knowledgeable about their subject matter to have credibility with your audience. It would be preferable to have multiple people doing recordings on their area of expertise to display the depth of expertise at your credit union.

Funds: Let’s see – Audacity is free for PCs or Garageband is already there if you have a Mac; the podcast is two or three minutes; the recording takes a few minutes to upload and post, a canned intro and an outro would take a few minutes to produce, and the finished product oozes with helpful coolness. Seems like a pretty minimal cost with a high return on your leadership position.

Now that you have the tools, time, and know-how, when are you going to start your podcast? If you already have one, what are doing with it?

Previously published on CUinsight.

For all you writers out there, I saw this poster on Copyblogger today and had to share...

How do you make a billion dollars in 18 months? Create a photo-sharing app that people are addicted to and have the world’s largest social network buy it. Sounds simple enough – right, Instagram?

Well, this scenario is quite the anomaly in the business world, but it sure makes a great news story – and photo-sharing site/app Instagram (130 million users) pulled it off with what seemed to be relative ease. Actually, it was just a stellar, “why-didn’t-I-think-of-that” idea with some slick engineering at a great time in our online era. Timing with talent is gold.

So what does the recent Instagram acquisition by Facebook mean for credit unions? A lot – if you’re active on Facebook. With the social media world becoming more and more visual, it will be important to share your credit union’s story in a visual medium through photos and video. And, as luck would have it, Instagram does both of those wonderfully – all connected to its gazillion users.

Everybody loves a good picture or a compelling video. It’s that simple. And Instagram is one of the best apps around to share them with your friends, family, peers, and prospects. Even the company’s Founder Kevin Systrom calls it “visual crack”. (See Fast Company story in the July/August 2013 issue.) These visuals are a fantastic way to boost more life into your credit union’s Facebook page with new comments, likes, and shares. Who doesn’t want that?

If you’re a credit union marketers looking to enhance your visuals, here are a few reasons to employ Instagram:

1.     Facebook integration – As previously mentioned, most credit unions participating in social media are on Facebook to connect with their members and reach out to prospective members in a social and educational manner. Great move. Creating compelling 15-second Instagram videos and those uber-cool, Polaroid-filtered pics ups your credit union’s cred in a big way on Facebook – especially to the generations coming up that are thoroughly addicted to Instagram (ahem, my 12-year-old daughter). So think ahead credit union marketers. Not only is Instagram tops in photo-sharing (and now videos), there’s a cool factor with younger generations who get it. And if you adopt Instagram to your marketing tools, you just might get them.

2.     Show a product or service demo – Let’s face it, not everybody knows how to use remote deposit capture. So why not leverage Instagram’s new video capabilities to show members how easy it is with a narrated, step-by-step demo. Or, if you’re really bold, create a bit where you show real-life scenarios with actors or CU employees in which remote deposit capture can be used. Make them entertaining and fun. You can do this with any product or service at your credit union cost-effectively as well. Plus, they’re fun to produce and post.

3.     Member success stories – You can use the video or photo features of Instagram for these powerful pieces. Take pics or shoot video of members getting approved for home or auto loans – perhaps in front of their home or with their new wheels. These types of testimonials make very powerful pieces for peer-type stories that are easily relatable and hopefully infectious.

4.     Highlight special product offers, events, and promotions – Creating a cool photo or compelling 15-second Instagram photo to convey your credit union’s special offers, events, and other promotions is waaaaaay better than just text. You can even add hashtags (#RDClaunch or #MainStBranchOpens or #AcmeCUMobileLaunch or #AcmeCUdonates) to track the conversation sparked by the video or photo.

5.     Invite members to submit their Instagram photos/videos – A productive way to garner audience participation is including them in your outreach efforts. Segueing from #3, member testimonials are because of their objectivity. This is where Instagram’s 15-second video capability can be of great use. Or if you want to use a pic with a short caption, that will work, as well. Create member contests for best Instagram photo or video related to an event or product at your credit union works really, well, too. Contests not only garner huge participation, but they increase interest from prospective consumers as well when they get wind of it. And, again, don’t forget about incorporating the hashtags so you can follow the conversation as well as everybody else.

6.     Humanize your credit union – Ever since social media hit us in the face like a fire hose on full a few years ago, all the pundits have been talking how it “humanizes” your brand. Very true, as it creates a conversation with the masses like no medium has before. But nothing personalizes or humanizes you, your credit union, like a photo or a video that tells a beneficial story. My first thought is create a “behind the scenes” or a “day in the life of” series for your credit union so your members can have a greater bond with not just your brand but your staff. Even producing some quick “how to” videos are most beneficial to position you as a trusted resource. Hard to lose here. And no other app can do it better than Instagram.

7.     Gen Y and Millennials – A slight repeat of #1:These guys are all over Instagram. For obvious reasons, so should you.

With Instagram’s massive and growing following – coupled with Facebook’s world domination in the social arena, the possibilities for credit unions are huge. Has your credit union created any Instagram photo or video campaigns? If so, what and what results did you see?

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Originally published on CUES Inside Marketing July 18, 2013.

I keep hearing at industry conferences, in trade publications, during webinars and such that credit unions are the "best kept secret" in their towns. Initially, this viewpoint is taken in a negative light as most of us want to be mainstream -- not flying under the radar so to speak. But is being a "best kept secret" all that bad"?  For now, I don't think so.

There are many companies/industries that are and have been kind of a secret. I remember years ago out here in San Diego before Price Club merged with rival Costco in 1993, it was the best kept secret in town. If you could get a membership, you were one of the few, the proud that could go buy stuff in bulk. So cool it was at the time.

Today, just about anybody and their pet can be a member of a Costco and buy bulk goods. No longer a secret. For a while there, it was a semi-exclusive outlet that people were talking and talking about. There was quite a buzz about the Price Club back in the day before it became Costco and became the behemoth Starbucks of buying palettes of toilet paper, shampoo, and beef jerky. Turned out Ok for those guys.

There has to be some study somewhere that I am too lazy to research that displays consumer's behavior when it comes to exclusivity or membership creating more demand.  Again, being a member of the Price Club at the time was fairly exclusive -- which in turn created interest and, thus, demand. Everybody wanted to load up the back of their SUV with a case of pork and beans, 300 Pepsi's, and three new office chairs. Americans love their stuff and Costco delivers the goods -- in bulk!

During college when we would plan our surf trips to Mexico, anybody who was a member of the Price Club at the time was more than welcome to join our weekly weekend adventures to Baja for some uncrowded waves. We could then hijack their membership and buy tons of food and other goods for our trips. I remember thinking that I had to tell my parents about this place.  Sure enough, they already knew through talking with their friends and had joined. I now had visions of hubcap-sized cheesecakes dancing in my head. Point here is word spread about this “exclusive” place like the free samples of cocktail weenies on the corner of the frozen food section.

Pardon my digression.

Instead of repelling this notion of being a "secret", I think credit unions should embrace it. They can create an air of exclusivity (aka: membership), which, like Price Club and other membership entities, promote its own, self-induced buzz. Members talk about their experiences and the rates at credit unions and people become curious as to what this thing called a credit union is -- and how they can get in on this action.

Based on the latest growth numbers the industry has experienced since Bank Transfer Day (800,000 new members in Q1 2013), people are already curious. They are looking for options and ever-slowly noticing credit unions as a fantastic option that not too many people know about. "Cool," may be their thinking, "I just scored a killer rate on my new car and saving a ton of cash each month -- and I can still deposit my check and pay my bills from my iPhone. I've gotta tell my friends and family about this."

There's something appealing about this "score" or "scoop" and not having very many people know about it. It's like telling a new joke and the latest news to your friends. You got the inside info. Now you're a trusted resource. But little do you know that your friends and family are telling their friends and family about your credit union scoop -- which is the best advertising of all.

So by being the best kept secret in town, credit unions, in theory, can create a word-of-mouth buzz much like other membership, club-like organizations. People want to know what goes on at these places. But they have to be different to get people to talk. Just having great rates and a mobile app ain't going to do it because King Kong Bank on the corner will most likely have close to the same thing.

For credit unions, being member-owned is huge. But not a lot of people care about that initially. What does that mean for them? With a bit more education, they ultimately realize that have a say in how their FI is run and they can get a little something back for their business, much like the outdoors store REI. I think this would be so appealing to Gen Y and Millennials.

What I am ultimately getting at here is that being the best kept secret is not a negative. I like it. Right now, leverage it because people gravitate toward that exclusivity feeling like they're among the few that know -- even though there are more than 96 million members in the know, as well. And who really can keep a secret when it's this good, anyway?

What are your thoughts on credit unions being the best kept secret as a marketing strategy  -- for now?

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